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Despite some criticism, money is still pouring into environmentally and socially conscious stocks. In just the first week of 2023 alone, Goldman Sachs Group Inc.'s asset management division collected more than $1.6 billion from clients for a fund that adheres to the strictest ESG rules in the European Union. One cannot ignore the interest in ESG and socially responsible investing.
Not all ESG investments are created equal, however. Investors that are on the fence about this new area still have plenty of options to dip their toes into the landscape. Though ESG funds and stocks often come with high premiums, a good play to benefit from environmentally conscious investments is to look at the burgeoning renewable energy sector.
According to the latest report by Spherical Insights & Consulting, the global renewable energy market was worth USD 881.70 billion in 2021 and is expected to reach USD 1930.60 billion by 2030, growing at a CAGR of 8.50% from 2021 to 2030.
A great deal of innovation takes place at the grassroots level in renewable energy, which is why in this article we will focus on renewable energy stocks under $5.00.
Viking Energy Group Inc. (OTC: VKIN) continues to diversify its portfolio with green technologies, sustainable investments, and environmentally friendly intellectual properties, all while providing a solid foundation through investments in the oil and gas fields, offering a unique investment for shareholders.
Viking Energy Group is uniquely positioned in its sector. Even though renewables are seen as the way forward, oil and gas are still around for the time being. Viking Energy's oil and gas holdings in the US are worth about $96 million.
VKIN stands to gain from the combination of higher energy costs and a greater push toward renewable sources of power.
This dual investment strategy makes them a smart play in today's volatile market.
Viking Energy CEO James Doris says, "We are a clean energy company which uses an IP license from Clean Energy, LLC, to generate clean energy”
“We initially invested in oil and gas assets. Now, VKIN offers investors the best of both worlds: green, clean energy, and oil and gas assets.”
The clean energy assets in the VKIN portfolio encompass a broad spectrum, ranging from carbon capture to sustainable biodiesel production. VKIN's diversified business model allows them to succeed even if oil demand drops as countries work to meet climate change accords or inflation slows.
Three of VKIN’s major investments in sustainable technology include:
VKIN’s patent for intellectual property and other rights licensed by VKIN from ESG pertaining to a Bottoming Cycle Power System associated with its carbon capture technology. The new patent covers the invention of an exhaust-gas-to-exhaust-gas-heat exchanger. VKIN is therefore better positioned to capture carbon and use it for advantageous purposes.
VKIN has invested in a Reno, Nevada processing plant designed to produce renewable diesel. VKIN has entered into a Membership Interest Purchase Agreement with RESC Renewable Holdings, LLC., to buy the membership interests of New Rise Renewables, LLC.
VKIN received a Notice of Allowance from the United States Patent & Trademark Office for a patent titled "Multi-Chamber Medical Waste Ozone-Based Treatment Systems and Methods" Through its majority-owned subsidiary, Viking Ozone Technology, LLC, VKIN offers its revolutionary VKIN-6000, a medical waste treatment system utilizing ozone. VKIN is able to offer an environmentally sustainable and cost-effective solution for biohazardous waste.
VivoPower International (NASDAQ: VVPR) is a sustainable energy solutions company that focuses on electric solutions for fleet applications, battery and microgrid technology, and solar and critical power technology and services. VivoPower creates turnkey decarbonization solutions that enable customers to move toward net-zero carbon status.
Last week, VivoPower announced the appointment of Eduardo Nebot to the VivoPower Advisory Council. Australian-based Eduardo Nebot is a renowned and highly respected expert in mining safety, field robotics, and mine automation, with over 35 years of experience advising leading mining and mining services companies.
That same day, VVPR also announced they had secured further bridge financing from its major shareholder, AWN Holdings Limited (AWN), of US $3 million for their wholly owned subsidiary, Tembo e-LV B.V. (Tembo).
Gevo, Inc. (NASDAQ: GEVO) is a renewable fuels company focused on the production of sustainable aviation fuel (SAF).
GEVO has continued to perform well following the announcement that the GEVO Board of Directors has appointed Carol Battershell as a new independent director.
Carol is a seasoned executive with nearly 40 years in the energy sector in the United States and internationally. She is currently the Chief Executive Officer at Battersea Energy LLC, an energy consulting company, and she previously served as Principal Deputy Director in the Office of Policy at the U.S. DOE.
Last September, Gevo broke ground in Lake Preston, South Dakota, on its first commercial-scale sustainable aviation fuel (SAF) facility, Net-Zero 1 (NZ1). In an update to shareholders, GEVO said that the NZ1 project is still on track to start up in 2025 as planned.
Keep GEVO on your watchlist, as the stock has started off the year trending in the right direction.
Sunworks, Inc. (NASDAQ:SUNW) engages in the provision of photovoltaic and battery-based power and storage systems for the residential and commercial markets. It operates through the Solcius and Sunworks business segments. The Solcius segment focuses on residential projects. The Sunworks segment deals with commercial projects, including commercial, agricultural, industrial, and public works projects.
SUNW’s share price is 112% higher than it was three years ago. In the last month, the share price has gained 17%.
According to a recent article from Simply Wallstreet, the company is currently not profitable, but it has grown its revenue by 37% annually over the last three years, making this a stock to watch.
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