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Cleantek Industries to Present at the Smallcap Discoveries Conference
Newsfile· 2025-09-18 11:00
Group 1 - Cleantek Industries Inc. is an innovative provider of patented clean technology solutions aimed at reducing costs and carbon intensity in wastewater management and industrial lighting sectors [1][5][6] - The company will participate in the Smallcap Discoveries Conference in Vancouver on September 29-30, 2025, where its President and CEO will present recent achievements and growth plans [1][2] - Cleantek focuses on ESG-accretive solutions, offering specialized wastewater treatment, disposal equipment, and sustainable lighting rental solutions to a diverse client base, including blue-chip companies [5][6] Group 2 - The Smallcap Discoveries Conference aims to strengthen Canada's microcap ecosystem by connecting engaged investors with select growth companies, fostering meaningful connections and access to capital [2][4] - Cleantek is well-positioned to meet the rising demand for water treatment and sustainable lighting, driven by a commitment to sustainability, safety, and operational excellence [6]
NET POWER ALERT: Bragar Eagel & Squire, P.C. is Investigating NET Power, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm
GlobeNewswire News Room· 2025-09-04 20:26
Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against NET Power, Inc. due to a class action complaint alleging breaches of fiduciary duties by the company's board of directors during the specified class period [1][3]. Company Overview - NET Power is a clean energy technology company focused on its "Net Power Cycle" technology, which aims to generate reliable and affordable electricity from natural gas while capturing nearly all emissions [2]. - The company operates a demonstration facility in La Porte, Texas, to validate its technology and is developing its first utility-scale plant, Project Permian, located in the Permian Basin of West Texas [2]. - The estimated cost for Project Permian has increased from approximately $950 million in 2023 to $1.1 billion in 2024, with expectations for the project to be operational by 2026 [2]. Allegations and Complaints - The class action complaint alleges that NET Power's management made materially false and misleading statements regarding the company's operations and prospects, particularly concerning the completion timeline and cost of Project Permian [3]. - Specific allegations include that the company is unlikely to complete Project Permian on schedule and that the project will incur significantly higher costs due to supply chain issues and other challenges [3]. - The complaint asserts that these misrepresentations have negatively impacted the company's business and financial results [3].
Comstock Announces the Purchase of All Equipment for Industry Scale Facility
Globenewswire· 2025-08-25 20:15
Core Insights - Comstock Inc. has successfully placed orders and paid deposits totaling $5.1 million for equipment for its solar panel recycling facility, which is set to be the largest in the U.S. with a capacity of 100,000 tons per year, scheduled for delivery in Q4 2025 [1] - The company aims to enhance its balance sheet and operational capabilities through a recent equity offering, which has attracted significant institutional investors [2] - Comstock's billable revenues are projected to increase eightfold in 2025 compared to 2024, reaching over $3.5 million as the company scales its operations [2] Company Objectives and Plans - The company plans to accelerate its market share in solar panel recycling and is awaiting final permits and delivery of its processing system [3] - Comstock aims to reclaim and repurpose every component of end-of-life solar panels into new raw materials [3] - Key objectives for the next 10 months include expanding local storage capacity, completing permitting for the facility by November 2025, and securing additional service agreements with customers [6] Company Overview - Comstock Inc. focuses on innovating and commercializing technologies that support clean energy systems by extracting and converting under-utilized natural resources into reusable metals from end-of-life photovoltaics [4]
Cleantek Industries Inc. Reports Strong Second Quarter 2025 Results Driven by International Growth
Newsfile· 2025-08-14 19:19
Core Insights - Cleantek Industries Inc. reported strong financial results for Q2 2025, highlighting significant international growth and increased market share in North America [2][7]. Financial Performance - Revenue for Q2 2025 increased by 39% to CAD 3,352,000 from CAD 2,411,000 in Q2 2024, driven by strong equipment sales and growing rental demand [7]. - Gross profit also rose by 39% to CAD 1,782,000, maintaining a gross profit margin of 53%, consistent with Q2 2024 [7]. - The net loss narrowed to CAD 457,000 in Q2 2025, an improvement of CAD 54,000 compared to a net loss of CAD 511,000 in Q2 2024, despite a non-cash foreign exchange loss of CAD 456,000 [7]. - Adjusted EBITDA surged by 241% to CAD 778,000 for the quarter, compared to CAD 228,000 in Q2 2024, primarily due to higher revenue [7]. Operational Highlights - The company continues to focus on enhancing equipment utilization, global market expansion, and maintaining a strong balance sheet [3]. - Cleantek's R&D team is working on improving the performance of evaporator solutions by increasing salt and solids tolerance, while also pursuing manufacturing efficiencies [4]. Capital Structure - As of June 30, 2025, total assets increased to CAD 14,537,000 from CAD 13,641,000 at the end of 2024 [8]. - The working capital deficit improved to CAD 1,242,000 from CAD 1,939,000 at the end of 2024 [8]. - Non-current debt rose slightly to CAD 7,493,000 from CAD 7,085,000 at the end of 2024 [8]. Executive Changes - The company announced that Orson Ross, the Chief Financial Officer, will be leaving Cleantek in September 2025 after contributing significantly since joining in 2022 [17].
Pomerantz Law Firm Announces the Filing of a Class Action Against NET Power Inc. and Certain Officers – NPWR
GlobeNewswire News Room· 2025-05-18 14:00
Core Viewpoint - A class action lawsuit has been filed against NET Power Inc. and certain officers for alleged violations of federal securities laws during the Class Period from June 9, 2023, to March 7, 2025, seeking damages for misleading statements regarding the company's business and financial prospects [1][7]. Company Overview - NET Power Inc. is a clean energy technology company focused on its "Net Power Cycle" technology, which aims to generate reliable and affordable electricity from natural gas while capturing nearly all emissions [4]. - The company operates a Demonstration Plant in La Porte, Texas, to validate its technology and is developing its first utility-scale plant, referred to as "Project Permian," located in the Permian Basin of West Texas [4]. Project Permian Details - Initially, NET Power projected that Project Permian would be operational in 2026, with a cost estimate of approximately $950 million in 2023, which later increased to $1.1 billion in 2024 [5][6]. - The completion of Project Permian is critical for the company's commercial operations and financial outlook, making the accuracy of timelines and cost estimates vital for investors [6]. Allegations in the Lawsuit - The lawsuit claims that throughout the Class Period, NET Power's executives made materially false and misleading statements about the company's operations and prospects, including the likelihood of completing Project Permian on schedule and the accuracy of cost estimates [7]. - Specific allegations include that the project was unlikely to be completed on time and would incur significantly higher costs due to supply chain issues and other challenges [7]. Impact of Recent Announcements - On November 14, 2023, NET Power announced a delay in the initial power generation timeline for Project Permian to between the second half of 2027 and the first half of 2028, causing an 18.54% drop in stock price [8][9]. - On March 10, 2025, the company revised the total installed cost of Project Permian to between $1.7 billion and $2.0 billion, leading to a further 31.46% decline in stock price [10]. - Following the announcement of executive departures on April 15, 2025, the stock price fell by 5.75% [11].