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Energy Transition Pivot Point, Tech Maturation Model, & More

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View: Q2 2021 Review

By Ron Pernick

The second quarter of 2021 will be remembered for several significant events in the energy transition (more on that topic below). As the United States and other large economies began to emerge from COVID-19 lockdowns, prospects for increasing economic growth supported strong total returns in the S&P 500, which rose 8.55%, and in the traditional energy-focused IXE index, which increased 11.11% on the expectation of higher fuel consumption. Among the Nasdaq-Clean Edge indexes, those with an emphasis on infrastructure also produced meaningful results. Prospective significant investments going into the electrical grid and water systems in the U.S. and elsewhere supported an 8.32% return in QGRD (global smart grid and grid infrastructure) and a 7.18% return in HHO (U.S. water) on a total return basis. The Nasdaq-Clean Edge indexes that focus on the clean energy and wind sector, CELS (U.S. clean energy) and GWE (global wind), had more modest results as the indices continued to recover from corrections from record highs. For the quarter, CELS returned 1.09% and GWE -3.39%, both on a total return basis.

Year to date (YTD), the Nasdaq-Clean Edge indexes centered on the electrical grid and water infrastructure outperformed the S&P 500’s 15.25% result. QGRD increased 15.88% and HHO was up 16.29%. Indexes focused on renewable energy continued to correct from high levels experienced at the end of 2020 and the start of 2021. CELS declined -1.14% and GWE fell -6.30%. IXE experienced a significant 45.22% increase fueled by optimism about a return to more normal economic activity. All results are on a total return basis.

Over the past 12 months, CELS was the best performer of the Nasdaq-Clean Edge indexes, increasing 135.06%. The remaining Nasdaq-Clean Edge indexes also produced robust results on a total return basis. QGRD rose 72.49%; GWE and HHO increased 53.61% and 51.55%, respectively. Over the same period, the S&P 500 experienced a 40.79% return and IXE had results of 49.84% on a total return basis.

See Complete Stock Index Performance & Trends Here 

Q2 2021 Nasdaq-Clean Edge Index Performance (Total Return)


Data Dive: Tech Maturation Model

Clean Edge recently released its inaugural Tech Maturation Model, drawing on the team’s collective industry experience to analyze 30 clean energy technologies. We hope this model is useful for investors, governments, and other stakeholders to assess the market availability and cost competitiveness of these technologies over the next 10 years.

Technologies at the top right of the chart, such as solar PV, onshore wind, and LEDs, are both widely available and cost-competitive with their established counterparts today or in the next 1-3 years. Those at the bottom left, such as all-electric long-haul air travel, are at least 10 years from maturity in our view. In future model updates, we expect less established technologies (such as green hydrogen, solid-state batteries, and bidirectional grids) to gain traction, becoming more commonplace and moving toward technological maturity. We welcome your feedback on our model, which we plan to update annually.


Quarterly Insight: Energy Transition Pivot Point

At Clean Edge we believe that the second quarter of 2021 will be widely viewed as a central pivot point in the global transition from fossil fuels to clean energy. On May 17th, the IEA (once very conservative on energy shifts) issued its Net Zero by 2050 report, saying, among other things, that investors should stop funding all new oil, gas, and coal supply projects if the world wants to reach net zero emissions by mid-century. Near the end of May, a district court in The Hague ordered Shell to slash its CO2 emissions by 45% by 2030 from 2019 levels. Then on the very same day, activist shareholders led by investment firm Engine No. 1 gained two ExxonMobil board seats in an unprecedented win in their bid to push the company to finally make a climate strategy change (a third board seat was later confirmed for activist investors in June).

At the G7 June summit in the U.K., the seven world leaders pledged to increase climate finance and called for an end to all new coal investments by the end of this year. “International investments in unabated coal must stop now and we commit now to an end to new direct government support for unabated international thermal coal power generation by the end of 2021,” said the G7 communique. Then three weeks later, an Australian court issued an unprecedented ruling ordering the federal government to halt a major coal mine expansion until it fully assesses the mine’s potential emissions and their climate impact (Australia is the world’s fifth-largest producer of coal).

These are seismic shifts, and it’s clear that governments and investors are moving their focus away from fossil fuels to net-zero ambitions and clean-energy targets. We are already seeing this dramatic change playing out and new fossil fuel initiatives, we believe, will become increasingly “unbankable.” Investors are calling for more transparency from oil and gas companies, weighing the risks of their potential stranded assets as both climate regulations and market demands move the energy supply faster toward decarbonization. These trends have been accelerating for years, and we believe they have just passed a key pivot point.

Nasdaq Clean Edge Green Energy Index. Licensed to First Trust as an exchange traded fund (QCLN).


Nasdaq OMX Clean Edge Smart Grid Infrastructure Index. Licensed to First Trust as an exchange traded fund (GRID).

Access our latest report.

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Source: https://www.ethicalmarkets.com/energy-transition-pivot-point-tech-maturation-model-more/

Crunchbase

Egyptian ride-sharing company Swvl plans to go public in a $1.5B SPAC merger

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Cairo and Dubai-based ride-sharing company Swvl plans to go public in a merger with special purpose acquisition company Queen’s Gambit Growth Capital, Swvl said Tuesday. The deal will see Swvl valued at roughly $1.5 billion.

Swvl was founded by Mostafa Kandil, Mahmoud Nouh and Ahmed Sabbah in 2017. The trio started the company as a bus-hailing service in Egypt and other ride-sharing services in emerging markets with fragmented public transportation.

Its services, mainly bus-hailing, enables users to make intra-state journeys by booking seats on buses running a fixed route. This is pocket-friendly for residents in these markets compared to single-rider options and helps reduce emissions (Swvl claims it has prevented over 240 million pounds of carbon emission since inception).

After its Egypt launch, Swvl expanded to Kenya, Pakistan, Jordan and Saudi Arabia. The company also moved its headquarters to Dubai as part of its strategy to become a global company.

Swvl offerings have expanded beyond bus-hailing services. Now, the company offers inter-city rides, car ride-sharing, and corporate services across the 10 cities it operates in across Africa and the Middle East.

Queen’s Gambit, the women-led SPAC in charge of the deal, raised $300 million in January and added $45 million via an underwriters’ overallotment option focusing on startups in clean energy, healthcare and mobility sectors.

The statement also mentions a group of investors — Agility, Luxor Capital and Zain Group — which will contribute $100 million through a private investment in public equity, or PIPE.

Per Crunchbase, Swvl has raised over $170 million. From an African perspective, Swvl features as one of the most venture-backed startups on the continent. The company has been touted to reach unicorn status in the past and will when this SPAC merger is completed.

The company will aptly trade under the ticker SWVL. The listing will make it the first Egyptian startup to go public outside Egypt and the second to go public after Fawry. It will also make the mobility company the largest African unicorn debut on any U.S.-listed exchange, beating Jumia’s debut of $1.1 billion on the NYSE. Swvl joins music-streaming platform Anghami as the second startup in the region to go public via a SPAC merger in the Middle East.

Swvl had annual gross revenue of $26 million in 2020, according to the statement, and the company expects its annual gross revenue to increase to $79 million this year and $1 billion by 2025 after expanding to 20 countries across five continents.

On why Queen’s Gambit picked Swvl for this deal, Victoria Grace, founder and CEO, said in a statement that the company fit the profile of what she was looking for: “a disruptive platform that solves complex challenges and empowers underserved populations.”

“Having established a leadership position in key emerging markets, we believe Swvl is ready to capitalize on a truly global market opportunity,” she added.

In May, TechCrunch wrote that SPACs didn’t target African startups for several reasons, including a lack of global appeal and private capital and market satisfaction. Judging by Grace’s comments, Swvl has that global appeal and is ready to venture into the public market despite being in operation for just four years.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://techcrunch.com/2021/07/28/egyptian-ride-sharing-company-swvl-plans-to-go-public-in-a-1-5b-spac-merger/

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Crunchbase

Egyptian ride-sharing company Swvl plans to go public in a $1.5B SPAC merger

Published

on

Cairo and Dubai-based ride-sharing company Swvl plans to go public in a merger with special purpose acquisition company Queen’s Gambit Growth Capital, Swvl said Tuesday. The deal will see Swvl valued at roughly $1.5 billion.

Swvl was founded by Mostafa Kandil, Mahmoud Nouh and Ahmed Sabbah in 2017. The trio started the company as a bus-hailing service in Egypt and other ride-sharing services in emerging markets with fragmented public transportation.

Its services, mainly bus-hailing, enables users to make intra-state journeys by booking seats on buses running a fixed route. This is pocket-friendly for residents in these markets compared to single-rider options and helps reduce emissions (Swvl claims it has prevented over 240 million pounds of carbon emission since inception).

After its Egypt launch, Swvl expanded to Kenya, Pakistan, Jordan and Saudi Arabia. The company also moved its headquarters to Dubai as part of its strategy to become a global company.

Swvl offerings have expanded beyond bus-hailing services. Now, the company offers inter-city rides, car ride-sharing, and corporate services across the 10 cities it operates in across Africa and the Middle East.

Queen’s Gambit, the women-led SPAC in charge of the deal, raised $300 million in January and added $45 million via an underwriters’ overallotment option focusing on startups in clean energy, healthcare and mobility sectors.

The statement also mentions a group of investors — Agility, Luxor Capital and Zain Group — which will contribute $100 million through a private investment in public equity, or PIPE.

Per Crunchbase, Swvl has raised over $170 million. From an African perspective, Swvl features as one of the most venture-backed startups on the continent. The company has been touted to reach unicorn status in the past and will when this SPAC merger is completed.

The company will aptly trade under the ticker SWVL. The listing will make it the first Egyptian startup to go public outside Egypt and the second to go public after Fawry. It will also make the mobility company the largest African unicorn debut on any U.S.-listed exchange, beating Jumia’s debut of $1.1 billion on the NYSE. Swvl joins music-streaming platform Anghami as the second startup in the region to go public via a SPAC merger in the Middle East.

Swvl had annual gross revenue of $26 million in 2020, according to the statement, and the company expects its annual gross revenue to increase to $79 million this year and $1 billion by 2025 after expanding to 20 countries across five continents.

On why Queen’s Gambit picked Swvl for this deal, Victoria Grace, founder and CEO, said in a statement that the company fit the profile of what she was looking for: “a disruptive platform that solves complex challenges and empowers underserved populations.”

“Having established a leadership position in key emerging markets, we believe Swvl is ready to capitalize on a truly global market opportunity,” she added.

In May, TechCrunch wrote that SPACs didn’t target African startups for several reasons, including a lack of global appeal and private capital and market satisfaction. Judging by Grace’s comments, Swvl has that global appeal and is ready to venture into the public market despite being in operation for just four years.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://techcrunch.com/2021/07/28/egyptian-ride-sharing-company-swvl-plans-to-go-public-in-a-1-5b-spac-merger/

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HRTech

Google will require vaccines as workers return to the office

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Coronavirus

In the coming weeks, Google will start requiring workers to be vaccinated before coming into the office, the company announced Wednesday. The tech giant is also extending its voluntary work-from-home policy through late October, as the Delta variant of the Covid-19 virus spreads. 

The vaccination requirement will roll out across US offices first and then expand to other regions. The implementation of the policy will vary depending on local conditions and regulations, as well as the availability of the vaccine. 

Google’s decision follows similar vaccination requirements by a growing number of government agencies and entities like the Mayo Clinic. 

Google first closed its offices in March 2020 and previously said its employees would work remotely until at least September 2021. After announcing it would adopt a “hybrid workforce model” that asked employees to spend at least some time in the office, Google in May said that it expects around 20 percent of its employees to work from home permanently. 

Some of the company’s campuses have started reopening. Google said it will give employees at least 30 days’ notice before implementing its full return-to-office plans. 

“It’s encouraging to see very high vaccination rates for our Google community in areas where vaccines are widely available,” CEO Sundar Pichai wrote in an email to employees Wednesday. “This is a big reason why we felt comfortable opening some of our offices to employees who wanted to return early.”

Prior and related coverage: 

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://www.zdnet.com/article/google-will-require-vaccines-as-workers-return-to-the-office/#ftag=RSSbaffb68

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Techcrunch

Score a free month of Extra Crunch with your TC Sessions: SaaS 2021 pass

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Whether you’re just starting to build your SaaS empire or you’re further along in your journey, you don’t want to miss TC Sessions: SaaS 2021 on October 27. This day-long virtual event, dedicated to the increasingly sophisticated world of software-as-a-service, features some of the sector’s biggest names, plenty of actionable advice and ample opportunity to network for, well, ample opportunities.

Learn how to scale, how to manage growth — of your business and of the massive amount of data it generates — and how to keep your products and services safe in an increasingly cyber-hostile world. And that’s just for starters.

Bonus Alert: Buy a TC Sessions: SaaS pass and receive a free, one-month subscription to Extra Crunch, our members-only program featuring exclusive daily articles for founders and startup teams.

Extra Crunch membership gives you the inside scoop and helps you stay ahead of the tech, business and investing trends every startup founder needs to know. Since Extra Crunch launched in 2019, we’ve posted more than 2,000 articles.

You’ll have access to exclusive articles on topics like market analysis, growth and fundraising. Here’s a quick peek at just some of the recent titles available to Extra Crunch subscribers:

Your membership also includes access to our weekly virtual event series, Extra Crunch Live. We hosted more than 40 events during 2020, and we built more interactivity into our 2021 format. We added a bunch of new stuff, too — like Pitch Deck Teardowns. Check out what’s going on with Extra Crunch Live in 2021.

We’re not quite ready to share the TC Sessions: SaaS event agenda, but register for updates and you’ll know when we announce new speakers, add events and offer ticket discounts.

TC Sessions: SaaS 2021 takes place on October 27. Join your global SaaS community to learn, inspire, connect and grow a stronger business. Buy your SaaS pass here and scoop up a free month of Extra Crunch goodness on us.

Is your company interested in sponsoring or exhibiting at TC Sessions: SaaS 2021 – Marketing & Fundraising? Contact our sponsorship sales team by filling out this form.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://techcrunch.com/2021/07/28/score-a-free-month-of-extra-crunch-with-your-tc-sessions-saas-2021-pass/

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