With a new $370 billion clean energy and climate deal, keep an eye on green stocks. Analysis “suggests the measures would reduce US carbon emissions by up to 40% by 2030. Strong climate regulations from the Biden administration and action from states would be needed to get to Biden’s goal of cutting emissions 50% by 2030,” says CNN. “The bill also contains many tax incentives meant to bring down the cost of electricity with more renewables, and spur more American consumers to switch to electricity to power their homes and vehicles.” That could also be beneficial for companies, such as Northstar Clean Technologies (TSXV: ROOF) (OTCQB: ROOOF), which is focused on the sustainable recovery and reprocessing of asphalt shingles. Other shingles stocks to be aware of in the market include Owens Corning (NYSE: OC), Builders FirstSource Inc. (NYSE: BLDR), Beacon Roofing Supply Inc. (NASDAQ: BECN), and Home Depot Inc. (NYSE: HD).
Look at Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) For Example
Northstar Clean Technologies Inc. just announced that it has completed a non-brokered private placement with Renewable U Energy Inc. for 1,250,000 common shares at a price of $0.40 per Share for gross proceeds of $500,000.
Concurrent with the Private Placement, the Company and Renewable U have signed a non-binding and non-exclusive term sheet covering the Company’s phase 1 expansion program of three asphalt shingle reprocessing facilities. With this stand-alone strategic equity investment, Renewable U has agreed to a twelve-month hold period, during which time the Shares may not be traded. There are no finder’s fees payable pursuant to the Private Placement.
While the Company has received conditional approval of the Private Placement from the TSX Venture stock exchange, closing remains subject to final acceptance. The Company intends to use the proceeds from the Private Placement for general corporate purposes.
Other related developments from around the markets include:
Owens Corning “delivered another outstanding quarter while advancing our enterprise strategy which accelerates our growth, strengthens our earnings power, and creates additional value for our shareholders. Our global teams continue to execute at a high level as we make strategic investments to expand our total addressable markets and enhance our market-leading positions,” said Chair and Chief Executive Officer Brian Chambers. “For the second half of the year, we remain focused on delivering strong financial results and positioning the company for long-term success.”
Builders FirstSource Inc. reported its results for the first quarter ended March 31, 2022. Dave Flitman, President and CEO of Builders FirstSource, commented, “We started the year out strong achieving another quarter of record net sales, gross margin and Adjusted EBITDA, while also producing strong core organic sales growth of 15%. In addition, we continue to make progress investing prudently in our operations and delivering outstanding service to our customers as we work to overcome the supply chain constraints that persist throughout our …….