it's on us Capital Markets Story February 2026 We are the playmaker of the green energy transition in Europe ~76% Adj. EBITDA share1 Energy Networks We operate the largest energy distribution grid in Europe and are the backbone of the green energy transition with the most critical infrastructure for society. Top-3 markets Regulated asset base4 ~8% Adj. EBITDA share1 Energy Infrastructure Solutions Industries and cities face major energy supply challenges on their way to climate neutrality. We provide infras ...

In a move that has sent shockwaves through the mining industry, the Trump administration has blocked what would have been the largest copper, gold, silver, and molybdenum extraction site in the United States, after the DOJ filed a 143-page brief late Tuesday defending the Biden Environmental Protection Agency's (EPA) 2023 veto of the controversial Pebble Mine project in Alaska's Bristol Bay region.Workers with the Pebble Mine project test drill in the Bristol Bay region of Alaska, near the village of Iliamm ...

Core Viewpoint - BP's $5.4 billion write-down on renewable energy assets signals a significant setback in the company's green transition efforts, leading to a suspension of share buybacks and a renewed focus on upstream oil operations [1]. Group 1: Financial Performance - BP reported a $5.4 billion write-down in 2025, including $3.5 billion related to solar developer Lightsource bp and renewable natural gas producer Archaea [1]. - The company's underlying replacement cost profit decreased to $7.5 billion in 2025 from $8.9 billion in 2024, attributed to weak oil trading and capital misallocation into low-return renewable projects [1]. - Year-to-date performance through February 11, 2026, shows Exxon Mobil's stock surged 29.27% and Chevron's gained 21.92%, while BP's stock only increased by 11.00% [1]. Group 2: Market Trends - Oil majors that focused on traditional operations have outperformed those that invested heavily in renewable projects, with a performance gap of nearly 3-to-1 [1]. - The green energy transition for major oil companies appears to be faltering, as the market still heavily relies on oil, with electric vehicles capturing a limited market share and aviation remaining dependent on jet fuel [1]. - TotalEnergies reported $0.7 billion in impairments on offshore wind activities in Q4 2025, indicating similar struggles among other companies in the sector [1]. Group 3: Strategic Shifts - BP's CEO emphasized a return to the company's "distinctive opportunity set in upstream business," indicating a strategic pivot back to oil exploration and production [1]. - The Trump administration's energy policies have contributed to a reversal in focus towards fossil fuels, with new regulatory scrutiny on offshore wind projects [1]. - Companies that concentrate on drilling, refining, and paying dividends have delivered stronger returns compared to those diversifying into renewable energy [1].

Core Viewpoint - Fathom Nickel Inc. has announced an upsized private placement financing of up to C$3,750,000 due to strong demand, alongside a planned drilling program at the Gochager Lake project to explore favorable geological conditions [1][2]. Financing Details - The upsized offering will consist of charity flow-through units priced at C$0.048 and hard dollar units at C$0.031 [1]. - Crescat Capital LLC has committed to invest at least 10% of the upsized offering [1]. Drilling Program - A 3,000-4,000 meter diamond drilling program is set to commence in mid to late February 2026 at the Gochager Lake project [1][6]. - The program aims to drill a minimum of 10 holes to test areas with favorable geology and geochemistry along the historic Gochager Lake deposit [2][6]. Geological Insights - Recent surface work has expanded the geological footprint of the Gochager Lake deposit, with mineralized gabbro identified up to 3.5 km northeast of the historic deposit [2]. - The exploration will focus on areas with robust multi-element soil geochemical anomalies to understand the underlying geology [2][11]. Ni-tenor and Mineralization - Ni-tenor values at the Gochager Lake deposit range from 2% to 5%, with outcrop samples showing values between 4.23% and 4.79% [5][6]. - The drilling will target high-grade Ni-Cu-Co sulphide mineralization zones, particularly in areas where Ni-tenor exceeds 3% [6][20]. Exploration Strategy - The company will utilize borehole electromagnetic (BHEM) surveys to identify zones of conductivity off the drillhole trace, which have previously indicated high-grade mineralization [6][11]. - Existing BHEM and historical survey results will inform the drillhole design and targeting process [11]. Company Overview - Fathom Nickel Inc. is focused on magmatic nickel sulphide discoveries to support North American critical mineral supply and the global green energy transition [14]. - The company has three exploration projects in the Trans Hudson Corridor, including the Gochager Lake project, which hosts the historic Gochager Lake deposit [14][15].

Company Overview - Libra Energy Materials Inc. is a Canadian mineral exploration company focused on discovering and developing critical minerals essential for the green energy transition [5] - The company has projects in Ontario and Quebec, including Flanders North, Flanders South, and SBC, under a $33 million earn-in deal with KoBold Metals Company [5] - Libra holds 100% ownership of four lithium projects in Canada and has additional projects in Brazil, including twenty-one lithium projects, eight graphite projects, and one cobalt project [5] Recent Developments - The company announced the issuance of 305,810 common shares at a deemed price of CAD$0.1635 as part of an asset purchase agreement for the Stimson lithium-cesium project in Ontario, with a total purchase price of CAD$50,000 [4] - The vendors of the project opted to receive the purchase price in common shares, which are subject to approval by the Canadian Securities Exchange [4] Industry Context - The Vancouver Resource Investment Conference, where Libra will participate, has been a key event for junior mining investment in Canada for 25 years, attracting over 5,000 mining investors annually [2] - The conference will feature over 120 expert speakers and a marketplace of over 300 investment opportunities in the mining industry, highlighting the growing interest in mining investments [2]

Core Insights - CHAR Technologies Ltd. is advancing its sustainable energy solutions and has made significant progress in its development portfolio as it enters 2026 [1] Group 1: Corporate Developments - The company listed on the Frankfurt Stock Exchange under ticker symbol 68K, enhancing access to European investors and improving trading visibility [2] - CHAR Tech completed a $2 million equity investment from The BMI Group and received approximately $8 million for the Thorold project [6] Group 2: Project Updates - The Thorold Renewable Energy Facility is nearing commissioning in January 2026, with Phase 1 construction focused on biocarbon production, targeting 5,000 tonnes per year [3][7] - The PFAS destruction demonstration project in Baltimore has completed its operational program, with data analysis underway to validate CHAR Tech's High Temperature Pyrolysis technology [4][7] - Development of the Lake Nipigon project is ongoing, with construction targeted for 2026, contingent on completing necessary development activities and securing financing [5][7] Group 3: Strategic Initiatives - The company is expanding its partnership with The BMI Group to include feasibility work for the Espanola clean-energy initiative, assessing site infrastructure and project concepts [6][8] - The CEO emphasized the transition to commercial operations and the importance of partnerships in driving tangible projects forward [9]

Core Viewpoint - CHAR Technologies Ltd. is initiating a non-brokered private placement to raise up to CDN$1,000,000 by offering 5,000,000 units at CDN$0.20 per unit, which includes common shares and warrants [1][2]. Group 1: Offering Details - Each unit consists of one common share and one share purchase warrant, with warrants allowing the purchase of one share at CDN$0.30 for 24 months post-closing [2]. - The offering is available to purchasers outside Canada under an exemption from the prospectus requirement, and the securities will not have resale restrictions [3]. - The offering is not classified as a Related Party Transaction and is subject to final acceptance by the TSX Venture Exchange [3]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated for general working capital, ongoing project development, and capital advisory and investor relations services [4]. - The company may pay finder's fees in connection with the offering, adhering to TSXV policies and applicable securities legislation [4]. Group 3: Closing Timeline - The closing of the offering is anticipated to occur around the week of December 16, contingent upon receiving necessary approvals, including from the TSXV [5]. Group 4: Company Overview - CHAR Technologies Ltd. specializes in high temperature pyrolysis technology, converting unmerchantable wood and organic waste into renewable natural gas or green hydrogen, along with a solid biocarbon product [7]. - The company's technology supports the global transition to green energy by diverting waste from landfills and generating sustainable energy for heavy industry decarbonization [8].

Core Viewpoint - Fathom Nickel Inc. has initiated winter trail access to the Gochager Lake project, which is expected to enhance exploration efficiency and reduce costs significantly [1][4]. Group 1: Project Development - The company has received permission to utilize the access road to the Roy-Lloyd mine, allowing crews to prepare a trail to Benjamin Lake by Christmas [2]. - Following the holiday break, work will continue on historic trails and ice roads to facilitate the transportation of drilling equipment by mid-February 2026 [2]. - A low-frequency electromagnetic geophysical survey will commence in early January to expand the geochemical footprint of the Gochager Lake deposit [3]. Group 2: Cost Efficiency - The winter trail access is expected to reduce reliance on helicopter transport and winter fixed-wing air support, leading to lower overall exploration costs [4]. - The combination of using ice roads and historic trails will allow for more extensive drilling operations at the project [4]. Group 3: Exploration Potential - The Gochager Lake project is part of Fathom's strategy to target magmatic nickel sulphide discoveries, contributing to North American critical minerals supply and supporting the green energy transition [6]. - Historical data suggests an exploration target of 4-5 million tons grading 0.3%-0.4% Ni and 0.08%-0.09% Cu at the Gochager Lake deposit, although this estimate is not well documented [11]. - Fathom has confirmed Ni-Cu grades comparable to historical reports through its drilling efforts, indicating the presence of a significant deposit [11].

Core Viewpoint - Euro Sun Mining Inc. has received a positive outcome from the European Commission regarding its Rovina Valley Project, affirming the project's strategic importance and dismissing allegations made by NGOs as unfounded [1][2]. Company Overview - Euro Sun Mining Inc. is a Toronto Stock Exchange-listed mining company focused on the exploration and development of its 100%-owned Rovina Valley Project in Romania, which is noted to host the second largest copper and gold deposit in Europe [3]. - The Rovina Valley Project has been granted European strategic status, which is expected to facilitate investment and job creation in Hunedoara County, while also providing critical minerals necessary for Europe's green energy transition [3]. Response to Allegations - The European Commission's internal review found eleven allegations made by NGOs to be partially inadmissible and unfounded, which the company views as an affirmation of its asset [1][2].

Core Viewpoint - The U.K. government under the Labour Party is shifting its energy policy towards stricter regulations on fossil fuel companies while maintaining the use of oil and gas as part of the energy mix for the foreseeable future [1][4]. Group 1: Government Policy Changes - The Labour government has introduced stricter environmental regulations for fossil fuel companies operating in the North Sea, requiring them to account for the environmental impact of emissions from the fuels extracted [1]. - The government will not issue any new oil and gas licenses, marking a departure from the previous Conservative government's support for U.K. oil and gas operations [2]. - Existing oil and gas projects can continue but will be subject to higher taxes, with companies taxed at around 78 percent, including the Energy Profits Levy introduced in 2022 [2]. Group 2: Industry Response and Future Outlook - Prime Minister Kier Starmer emphasized a pragmatic approach to the energy mix, stating that oil and gas from the North Sea will remain essential for many years while also integrating renewable energy sources [4]. - U.S. President Donald Trump highlighted the potential of North Sea oil, suggesting that the U.K. has significant assets that could be utilized under the current administration [3].