Alternative forms of transportation have been making the news lately as many companies explore different ways of moving into the future of green technology. Though the green tech investing market dropped in Q1 of 2013, there are plenty of opportunities for technology investing. Interesting news has come out of many markets, both foreign and domestic, in the green transportation sector. Here are just a few of the companies with major green technology transportation news:
The Kandi Technologies Corp. (Nasdaq:KNDI), based in Jinhua, China, has just had a major breakthrough with the Chinese government’s approval of their JL1000BEV vehicle, a hatchback car. Consumers may now receive subsidies from the Chinese government for purchasing the vehicles. The cars are manufactured as part of a joint partnership with the Zhejiang Geely Holding Group Co., Ltd (OTCMKTS:GELYF), also based in China. KNDI closed July 12 at $4.53, up $0.05, with a market cap of $164.65 million. Its 52-week trading range is $3.08 – $8.50.
Another major government approval, this time in the US, was procured by AMP Holdings Inc.* (OTCBB:AMPD), a manufacturer of electric commercial vehicles based in Loveland, OH. The company’s class 3-6 medium-duty E-100 Workhorse walk-in electric step vans were approved by the California Air Resources Board (CARB). This means purchasers and dealers may both qualify for vouchers worth up to $60,000 per vehicle. Because the vehicles have been certified in California as zero-emission vehicles, the trucks are now part of the California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP) program. AMPD closed July 13 at $0.51, up $0.06, with a market cap of $39.85. Its 52-week trading range is $0.08 – $0.58.
Distribution in the transportation sector can be a barrier to adoption, which is why Newport Beach, CA’s Green Automotive Company’s (OTC:GACR) distribution deal with European company I’MMOVING is so important. The agreement would give Green Automotive’s GoinGreen subsidiary exclusive distribution for I’MMOVING’s range of pure electric commercial vehicles in the United Kingdom. GoinGreen offers a wide variety of all types of electric vehicles, from scooters and cars to vans and commercial trucks. GACR closed July 13 at $0.28, up $0.039, with a market cap of $78.61 million. Its 52-week trading range is $0.13 – $0.52.
Creating green technology improvements in vehicles isn’t solely limited to creating environmentally friendly vehicles. New Castle, PA-based Axion Power International, Inc* (OTCMKTS:AXPW) recently received a new purchase order to provide their PbC batteries to ePower Engine Systems LLC. The two companies are nearing the end of negotiations for a long-term contract for the batteries. ePower uses Axion’s PbC batteries to convert typical commercial trucks into series diesel electric hybrid drive train systems. If a long-term contract is unveiled, it could help convert even more trucks to diesel electric hybrids, helping improve miles per gallon in the trucking industry. AXPW closed July 12 at $0.138, down $0.007, with a market cap of $14.61 million. Its 52-week trading range is $0.13 – $0.38.
Cars and commercial vehicles may well represent the future of green technology in transportation, though they’re far from the only options. Even solar-powered planes are in development. Companies that can encourage technology investing in their products while continuing to create and manufacture new environmentally friendly wares may find themselves well-positioned to sustain change and acquire funding.
* Denotes a client of Allen & Caron, publisher of this blog.