Rare Earth News - Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) announces completion of infrastructure geotechnical field data collection in support of Wicheeda Project; @defensemetals

 

Vancouver, British Columbia – December 28, 2023 (Investorideas.com Newswire) Rare earth metals news -Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) announces that it has completed all infrastructure geotechnical field data collection in support of the preliminary feasibility study (“PFS”) for its 100% owned Wicheeda Rare Earth Element (“REE”) Project located near Prince George, B.C., Canada.

 

Read this news, featuring DEFN In full at https://www.investorideas.com/news/2023/mining/12281DEFN-Wicheeda-Project.asp

 

Craig Taylor, CEO of Defense Metals, commented:

 

“We are very excited to have completed our 2023 Phase 3 geotechnical program. I would like to congratulate the APEX and SRK teams for their safe and professional execution of this work. These multi-phase programs started in early summer and we now have all field geotechnical data in hand necessary for the completion of our PFS study which we expect to be finished in Q2 2024.”

 

Highlights of the 2023 Wicheeda REE Project infrastructure geotechnical programs include:

 

·        16 helicopter and track sonic overburden geotechnical drill holes totalling 225.5 metres (Image 1and Image 2);

 

·        20 excavated overburden geotechnical test pits totalling 76.8 metres (Image 3);

 

·        6 diamond drill holes totalling 1,182 metres within the Wicheeda REE deposit pit shell; inclusive of 4 open pit geochemical drill holes totalling 920 metres, and in pit exploration holes totalling 262 metres;

 

·        Shipment of a 2,700 kg metallurgical sample, collected from drill core, to SGS Lakefield, Ontario for continued flotation and hydrometallurgical optimization test-work;

 

·        Initiation of humidity cell testwork on 17 samples, and 250 kg sample selection for on-site kinetic leach (barrel) testing of samples representative of anticipated mine waste rock to assess metal leaching and acid rock drainage potential in support of environmental assessment.

 

The geotechnical work was completed by SRK Consulting (Canada) Inc. (“SRK”) with the support of APEX Geoscience Ltd. (“APEX”).

 

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), Principal and Consultant of APEX Geoscience Ltd. of Edmonton, Alberta, who is a “Qualified Person” as defined in NI 43-101. 

 

About the Wicheeda Rare Earth Element Project

Defense Metals’ 100% owned, 8,301-hectare (~20,534-acre) Wicheeda REE Project is located approximately 80 km northeast of the city of Prince George, British Columbia; population 77,000. Wicheeda is readily accessible by all-weather gravel roads and is near infrastructure, including hydro power transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia.

 

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration and development company focused on the development of its 100% owned Wicheeda Rare Earth Element Deposit located near Prince George, British Columbia, Canada. Defense Metals Corp. trades on the TSX Venture Exchange under the symbol “DEFN”, in the United States, trading symbol “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

 

Defense Metals is a proud member of Discovery Group. For more information please visit: http://www.discoverygroup.ca/

 

For further information, please visit www.defensemetals.com or contact:

Todd Hanas, Bluesky Corporate Communications Ltd.

Vice President, Investor Relations

Tel: (778) 994 8072

Email: todd@blueskycorp.ca

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

 

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, the expected completion of the PFS and the expected timeline, the receipt of assays from drilling, continued optimization test-work, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, accuracy of assay results, performance of available laboratory and other related services, future operating costs, interpretation of geological, engineering and metallurgical data, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration, engineering and metallurgical results, risks related to the inherent uncertainty of exploration, metallurgy and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedarplus.ca. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations),  risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological, metallurgical and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 and other viruses and diseases on the business of the Company, the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

 

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Breaking Solar News: SinglePoint (Cboe: $SING) Successfully Lists on Cboe; Welcomes Tony Thomas as New Board Member in Expansion of Board Bolstering Company's Commitment to Strategic Growth in the Solar Sector; @_Singlepoint_

Breaking Solar News: SinglePoint (Cboe: $SING) Successfully Lists on Cboe; Welcomes Tony Thomas as New Board Member in Expansion of Board Bolstering Company's Commitment to Strategic Growth in the Solar Sector; @_Singlepoint_

 

PHOENIX, AZ - December 28, 2023 (Investorideas.com Newswire) SinglePoint Inc. (Cboe:SING) ("SinglePoint" or "the Company") a provider in renewable energy, energy supply and healthy building solutions is delighted to announce the appointment of Tony Thomas to its Board of Directors.

 

Read this news featuring SING in full at https://www.investorideas.com/news/2023/renewable-energy/12281SING-Tony-Thomas.asp

 

Mr. Thomas brings a wealth of experience and expertise in strategic advisory, investment, and board governance. Mr. Thomas serves as a Managing Director and Head of the financial advisory and asset management practice of Harbor Bankshares Capital Corporation (HBCC), a wholly owned subsidiary of Harbor Bankshares Corporation.

 

Before joining Harbor Bankshares, Mr. Thomas was a founding Managing Director of SCI Ventures, a family office investing primarily in media, communications and technology companies and a General Partner of Syncom Venture Management, a manager of institutional venture capital funds. As a senior member of the management teams at SCI Ventures and Syncom Venture Management, Mr. Thomas was integral in managing over $500 million in investments. His responsibilities have spanned from sourcing investments to serving on the Boards of Directors of portfolio companies, providing comprehensive management services, and stepping in as an interim executive when needed.

 

Over the course of his career, Mr. Thomas has demonstrated exceptional skill in managing portfolio company investments and leading advisory clients across various sectors, including technology, media, and telecom as well as banking, healthcare, cybersecurity, and energy. His work and guidance has been instrumental in guiding companies through capital raising, mergers and acquisitions, deal structuring, and post-transaction strategy execution.

 

With over [29] years of investing and advisory experience, Mr. Thomas has developed a reputation for being a hands-on, execution-oriented partner. His approach has earned him the trust and loyalty of portfolio companies, clients, and investors alike. His tenure in these positions showcases his ability to identify and nurture investment opportunities, particularly in minority entrepreneur-led firms and those serving underserved communities.

 

Mr. Thomas holds a B.B.A. in Accounting from Loma Linda University and an M.B.A. in Finance and International Business from Pennsylvania State University.

 

"Our commitment to transparency and continued execution of our acquisition strategy aligns perfectly with Tony's proven track record in strategic growth and value creation," said Wil Ralston, CEO of SinglePoint Inc. "His extensive experience and unique perspective will be invaluable as we continue to navigate the evolving landscape of our industry."

 

The entire team at SinglePoint is excited to welcome Mr. Thomas to the board and looks forward to his contributions in driving the company forward.

 

About SinglePoint Inc (SING)

SinglePoint Inc. is a renewable energy and sustainable lifestyle company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is focused on building the largest network of renewable energy solutions and modernizing the traditional solar and energy storage model. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies and appliances that enhance sustainability and a healthier life. For more information, visit the Company's website (www.singlepoint.com) and connect on social media for the latest updates.

 

Forward-Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, the use of proceeds, anticipated growth and future expansion, are forward-looking statements that involve risks and uncertainties.

 

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

 

Contact

SinglePoint Inc
investors@singlepoint.com
888-682-7464

 

SOURCE: Singlepoint, Inc. via PRISM Mediawire, LLC

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact management and IR of each company directly regarding specific questions. Disclosure: SinglePoint (Cboe:SING) is a paid featured solar stock on Investorideas - news publication and content creation effective December 21,2023 More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

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Breaking Metals Stock News -Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Completes Geotechnical Field Data Collection for Wicheeda Rare Earth Element Project Preliminary Feasibility Study; @defensemetals

Breaking Metals Stock News -Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Completes Geotechnical Field Data Collection for Wicheeda Rare Earth Element Project Preliminary Feasibility Study; @defensemetals

 

Vancouver, British Columbia – December 27, 2023 (Investorideas.com Newswire) Rare earth metals news -Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) announces that it has completed all infrastructure geotechnical field data collection in support of the preliminary feasibility study (“PFS”) for its 100% owned Wicheeda Rare Earth Element (“REE”) Project located near Prince George, B.C., Canada.

 

Read this news, featuring DEFN In full at https://www.investorideas.com/news/2023/mining/12271DEFN-Wicheeda-Field-Data-Collection.asp

 

Craig Taylor, CEO of Defense Metals, commented:

 

“We are very excited to have completed our 2023 Phase 3 geotechnical program. I would like to congratulate the APEX and SRK teams for their safe and professional execution of this work. These multi-phase programs started in early summer and we now have all field geotechnical data in hand necessary for the completion of our PFS study which we expect to be finished in Q2 2024.”

 

Highlights of the 2023 Wicheeda REE Project infrastructure geotechnical programs include:

 

·        16 helicopter and track sonic overburden geotechnical drill holes totalling 225.5 metres (Image 1and Image 2);

 

·        20 excavated overburden geotechnical test pits totalling 76.8 metres (Image 3);

 

·        6 diamond drill holes totalling 1,182 metres within the Wicheeda REE deposit pit shell; inclusive of 4 open pit geochemical drill holes totalling 920 metres, and in pit exploration holes totalling 262 metres;

 

·        Shipment of a 2,700 kg metallurgical sample, collected from drill core, to SGS Lakefield, Ontario for continued flotation and hydrometallurgical optimization test-work;

 

·        Initiation of humidity cell testwork on 17 samples, and 250 kg sample selection for on-site kinetic leach (barrel) testing of samples representative of anticipated mine waste rock to assess metal leaching and acid rock drainage potential in support of environmental assessment.

 

The geotechnical work was completed by SRK Consulting (Canada) Inc. (“SRK”) with the support of APEX Geoscience Ltd. (“APEX”).

 

Image 1: Heli-Sonic Overburden Drilling in PFS Tailings Option Study Area

 

Image 2: Temporary Bridge Installation to Access Tailings Study Area

 

Image 3: Excavated Overburden Test Pits Underway in Tailings Study Area

 

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), Principal and Consultant of APEX Geoscience Ltd. of Edmonton, Alberta, who is a “Qualified Person” as defined in NI 43-101. 

 

About the Wicheeda Rare Earth Element Project

Defense Metals’ 100% owned, 8,301-hectare (~20,534-acre) Wicheeda REE Project is located approximately 80 km northeast of the city of Prince George, British Columbia; population 77,000. Wicheeda is readily accessible by all-weather gravel roads and is near infrastructure, including hydro power transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia.

 

About Defense Metals Corp.

 

Defense Metals Corp. is a mineral exploration and development company focused on the development of its 100% owned Wicheeda Rare Earth Element Deposit located near Prince George, British Columbia, Canada. Defense Metals Corp. trades on the TSX Venture Exchange under the symbol “DEFN”, in the United States, trading symbol “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

 

Defense Metals is a proud member of Discovery Group. For more information please visit: http://www.discoverygroup.ca/

 

For further information, please visit www.defensemetals.com or contact:

Todd Hanas, Bluesky Corporate Communications Ltd.

Vice President, Investor Relations

Tel: (778) 994 8072

Email: todd@blueskycorp.ca

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

 

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, the expected completion of the PFS and the expected timeline, the receipt of assays from drilling, continued optimization test-work, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, accuracy of assay results, performance of available laboratory and other related services, future operating costs, interpretation of geological, engineering and metallurgical data, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration, engineering and metallurgical results, risks related to the inherent uncertainty of exploration, metallurgy and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedarplus.ca. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations),  risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological, metallurgical and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 and other viruses and diseases on the business of the Company, the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure   this  DEFN news is a paid news release on investorideas.com – learn more about costs and services https://www.investorideas.com/News-Upload/

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Solar Stocks Gain momentum from analysts (Cboe: $SING) (NASDAQ: $FSLR) (NASDAQ: $ARRY) (NASDAQ: $NXT) @_Singlepoint_ @FirstSolar @Arraytechinc @NEXTracker

Solar Stocks Gain momentum from analysts (Cboe: $SING) (NASDAQ: $FSLR) (NASDAQ: $ARRY) (NASDAQ: $NXT) @_Singlepoint_ @FirstSolar @Arraytechinc @NEXTracker

 

December 27, 2023 – Investorideas.com, a leading investor news resource covering renewable energy stocks releases a special news report on the future of the renewable energy sector and solar stocks featuring SinglePoint Inc. (Cboe:SING), a company with a portfolio of renewable energy-focused companies in solar, EV charging and energy storage.

 

Read this article, featuring SING in full at https://www.investorideas.com/news/2023/renewable-energy/12271SING-Solar-Stocks.asp

 

Analysts are seeing bullish signs for the solar sector and a possible turn-around as interest rates lower. Jefferies analyst Dushyant Ailani moved solar stocks to the upside with his recent buy ratings on First Solar, Inc. (NASDAQ: FSLR), Enphase Energy, Inc. and Sunrun Inc.

 

Other analysts are in agreement. In a recent sector news article, CIBC Capital Markets analyst Mark Jarvi said that valuations for clean energy stocks have crashed since their peak in early 2021. However, for 2024 Jarvi commented that “Overall, we believe lower rates/yields could have both a qualitative and quantitative benefit on the sector.”

 

The sector is also being fuelled by the recent COP28 plan as 118 countries pledged to triple the world's clean power.

 

So, if the analysts are correct, the timing is right on the money for companies like SinglePoint Inc. (Cboe:SING). SinglePoint, a diversified holding company specializing in renewable energy solutions and energy-efficient applications is paving a clear path to growth, having recently finalized its underwritten public offering of 800,000 shares of common stock at a public offering price of $5.00 per share. The gross proceeds from the offering, anticipated to be $4,000,000 before underwriting discounts, commissions, and estimated offering expenses payable by the Company, were successfully closed. Additionally, the company has granted the underwriters a 45-day option to purchase up to 120,000 additional shares of common stock at the public offering price, less the underwriting discount.

 

On December 15, 2023, the shares commenced trading on the BZX Exchange, a division of Cboe Global Markets, under the ticker symbol "SING." The net proceeds from the public offering are earmarked for general corporate purposes. The company also participated in the iconic opening bell ringing ceremony on the same day.

 

Wil Ralston, Chief Executive Officer of SinglePoint, commented, "The chance to be the inaugural US Company listed on the Cboe BZX Exchange marks a momentous and historic occasion. Our interactions with the Cboe team have been exceptional, characterized by their responsiveness, attention, and support. These qualities were pivotal in our decision to transition to the Cboe. This listing move is strategically sound, as we believe Cboe's international reach will help facilitate our expansion into other markets and support our acquisitions worldwide. This capability of Cboe is a significant step in implementing our global strategy and represents a watershed moment for our company. Achieving this historic milestone is truly remarkable, aligning perfectly with our long-standing ambition and focus."

 

SinglePoint, Inc., formerly trading on the OTCQB under the "SING" trading symbol, experienced significant revenue growth, surpassing $30 million in trailing twelve-month revenue while listed. The company continues this growth trend into 2023, achieving consistent quarter-over-quarter growth.

 

This uplisting enables SinglePoint to execute its aggressive and disciplined acquisition strategy, creating a streamlined network of services related to renewable solar energy production and storage. The company aims to provide solutions for healthier living, offering a suite of products that enhance living standards and empower Americans with greater control over their independence and well-being.

 

One of the primary advantages of migrating to the Cboe exchange is the immediate exposure to a broader investor base. The Cboe, known for its robust liquidity and widespread market participation, provides SING with a platform that facilitates increased trading volumes and improved liquidity. This heightened visibility can attract a more diverse range of investors, from institutional players to retail traders, potentially leading to a more dynamic and active market for the company's shares.

 

SING’s decision to move from the OTCQB to the Cboe exchange reflects a strategic commitment to unlocking new horizons of growth, visibility, and market credibility. This transition positions the company for a more dynamic and secure trading environment, setting the stage for an exciting chapter in its journey toward continued success.

 

Others within the renewable energy space such as Array Technologies (NASDAQ: ARRY), a leading provider of tracker solutions and services for utility-scale solar energy projects, recently announced financial results for its third quarter ended September 30, 2023.

 

“Despite the near-term secular challenges which impacted our volume when compared to the prior year, Array again delivered another strong quarter across all of our key metrics. Revenue for the quarter was $350.4 million which was in-line with our expectations, and adjusted EBITDA was $57.4 million, which exceeded our expectations as we once again delivered better than anticipated gross margin of 26.0% on an adjusted basis. We also continued to deliver positive free cash flow, generating $69.4 million in the quarter, bringing our year-to-date total to $126.4 million, which puts us well on track to achieve our full-year target of between $150 million and $200 million. On the back of this cash flow generation, we elected to make a $50 million prepayment on our term loan as we begin to execute on the deleveraging we discussed in previous quarters,” said Kevin Hostetler, Chief Executive Officer.

 

Mr. Hostetler continued, “On the demand side, we continue to see positive momentum heading into 2024. We are seeing a steady increase in our domestic pipeline, which has more than doubled from the second quarter. This increase is a key early indicator of the expected momentum in our order book. That said, we have continued to be impacted by short-term delays in project timing driven by customer pushouts, which has reduced our revenue outlook for the full year. However, despite these project timing challenges, we continue to be encouraged by our operational execution, in particular our efforts to expand our non-tracker offerings which will drive better than anticipated margins for the second half of the year. Accordingly, we expect our Adjusted EBITDA and Adjusted EPS outlook to remain largely unchanged.”

 

According to one recent news piece, “Shares of renewable energy stocks have jumped over the past week, and there's one big reason. Falling interest rates have not only pushed the market higher, they could make renewable energy companies more profitable in 2024.”

 

Nextracker (Nasdaq:NXT), a leading global provider of intelligent solar tracker and software solutions, made an announcement similar to SING earlier this year, when it raised $638 million in its US IPO, pricing it slightly higher than its indicated target range.

 

Nextracker sold 26.6 million shares of its Class A common stock at $24 apiece, according to the statement, giving the Fremont, California-based company a valuation of over $3.5 billion. This comes at the upper-end of their indicated range of $20 to $23 per share.

 

NXT recently announced surpassing a corporate milestone of 10 GW of smart solar trackers either operational or under fulfillment for projects located in the Middle East, Africa, and India. In parallel timing with the United Nations COP28 Climate Change conference held in Dubai over the last two weeks, this milestone was achieved this month after securing significant orders in the region.

 

Dan Shugar, Nextracker founder and CEO said, "This is a region marked by a wide range of energy transition needs and opportunities, and we’re proud to have reached this significant milestone. We continue to invest in these markets with sales, engineering, and professional services teams to better serve our customers throughout the entire solar project lifecycle. The company is laser focused on anticipating our customers’ needs and delivering the industry’s most reliable solar tracker and software solutions with unmatched wind design engineering and proven performance."

 

All over the sector we are seeing renewed growth such as with First Solar, Inc. (NASDAQ: FSLR) who recently announced an agreement to supply Swift Current Energy with 500 megawatts (MW) of advanced Series 7 thin film modules. Swift Current Energy, a Boston-headquartered developer, owner, and operator of utility-scale clean energy assets, has previously placed orders for 3.3 gigawatts of First Solar modules in 2022. This latest order, which was booked prior to the release of First Solar’s Q3 2023 results on 31 October, will see modules delivered between 2027 and 2028.

 

Swift Current Energy has commercialized more than 2.5 GW of renewable energy projects, has a project pipeline of more than 10 GW of solar, wind and energy storage, and owns 1.4 GW of renewable energy projects currently in operation or in advanced construction.

 

"As we continue to progress our US development pipeline, certainty of pricing and supply is essential to ensuring that we deliver capacity as planned," said Eric Lammers, co-founder and Chief Executive Officer, Swift Current Energy. "This latest agreement with First Solar supports our effort to build a resilient, competitive value chain, while supporting investments in domestic manufacturing, along with the jobs and economic benefits that come with it."

 

The initial hype period for the renewable and solar sector following the Biden administration’s commitments to renewable energy created a scenario where stocks were overvalued and investors had unrealistic expectations. But now, as technology improves, cost goes down and prime rates are set to lower, the renewable energy sector is poised for a much more realistic year of growth in 2024.

 

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