Clean energy stocks appears to be the major rage worldwide and could become a leading sector. For tech innovation in the years to come.
A clean energy revolution is working its way across the United States, highlighted by growth within the renewable energy sector.
The clean energy sector creates billions in economic activity. Looking forward, there’s tremendous economic opportunity for nations able to innovate, manufacture and export tech within the clean energy industry.
Read More: Top Biotech Penny Stocks For 2020
Below, I’ve highlighted 3 NASDAQ/NYSE penny stocks with potentially bright futures in a booming industry. Check them out.
Clean Energy Stocks: Clean Energy Fuels Corp. (CLNE)
Clean Energy Fuels Corp. provides natural gas as an alternative fuel. For vehicle fleets, primarily in the United States and Canada.
The company supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG). For light, medium, and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.
It also designs, builds, operates, and maintains fueling stations; and sells and services natural gas fueling compressors and other equipment that are used in CNG and LNG stations. Which provides assessment, design, and modification solutions to offer operators with code-compliant service. Including maintenance facilities for natural gas vehicle fleets.
Recently, the company announced new fuel agreements for its Redeem™ renewable natural gas (RNG), along with multiple station expansions to accommodate the continued demand for the ultra-low carbon fuel produced. From organic waste, across key sectors of the transportation industry.
“Despite this unprecedented challenging time that the country is experiencing with CV-19, Clean Energy continues to expand the use of a clean, ultra-low carbon fuel to fleets,” said Chad Lindholm, vice president, Clean Energy. “Many of our customers including heavy-duty trucking, refuse, and transit agencies are performing heroic duty by continuing to operate under extreme difficult circumstances. We applaud them and will support them any way we can.”
Clean Energy Stocks: ReneSola Ltd (SOL)
ReneSola Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It operates through three segments: Solar Power Project Development, EPC Services, and Electricity Generation Revenue.
The company also develops community solar gardens; but sells projects rights. In addition, its engineering, and procurement and construction business includes engineering design, procurement of solar modules, balance-of-system and other components. Including construction contracting and management services. Further, the company generates and sells electricity.
Last month, ReneSola announced the closing of the sale of a 15 MW portfolio of solar projects located in Hungary to Obton, a leading international solar investment company headquartered in Aarhus, Denmark.
The portfolio comprises 25 solar plants under construction in three municipalities of Bicske, Boldog and Cegled, with a combined capacity of 15 MW. These 25 small-scale ground-mounted projects are qualified under the Hungarian 25-year KAT feed-in tariff scheme and are expected to be grid-connected in the second quarter of 2020.
Clean Energy Stocks: Plug Power Inc. (PLUG)
Plug Power Inc. provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.
The company offers GenDrive, a hydrogen fueled PEM fuel cell system that provides power to material handling electric vehicles; GenFuel, a hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing maintenance and service program for GenDrive and GenSure fuel cells, GenFuel products, and ProGen engines; and GenSure, a stationary fuel cell solution that provides modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors.
Plug Power has helped international food business, ARYZTA, streamline its logistics with hydrogen fuel cells since 2016. The implementation of fuel cell technology has driven a tremendous increase in fleet productivity for the leader in the frozen B2B bakery industry.
Plug Power’s fuel cells increased ARYZTA’s average picks-per-hour by 100% in 2018, trending to a 133% increase in 2020. With this in mind, the company has set ambitious goals for future productivity projections to reach a 188% increase in picks per hour over the 2016 baseline. ARYZTA presents the ideal use-case for capitalizing on productivity improvements as a result of Plug Power’s innovative GenDrive hydrogen fuel cell technology.
“Our robust freezer application was draining our batteries and impacting our productivity,” said Joseph Holy, Director, Logistics at ARYZTA. “The use of the fuel cells in our Romeoville, IL distribution center has been transformative, and has made the site an example for others.”