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Going Green? Go Global!
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US investors, spoilt with the world's largest selection of stocks, do not often feel the need to look offshore. But for the growing numbers of investors in the clean tech sector this would be a mistake.
The simple truth is that the United States generally lags Europe in developments in green technology. In addition, companies in Asia and elsewhere are now rapidly catching up.
Here are five foreign stocks - all also listed on US exchanges - that American clean tech investors need to know about.
Vestas Wind Systems (VWDRY.PK) - this Danish company is the world's largest supplier of wind turbines, with nearly a quarter of the global market. It is hugely profitable and it is growing, with operations in many countries. It is a core stock in many of the stock market clean tech indices that have been springing up recently, and it is a core holding in numerous green funds. The global wind energy business is expanding rapidly, and Vestas looks set to be a key beneficiary.
Sims Group (SMS) - an Australian company that is the world's largest publicly listed scrap metal recycler. Following its $1.85-billion acquisition in March this year of US metals recycler Metal Management it has moved its headquarters to the US, listed its stock on the NYSE and is promoting itself to US financial institutions. Its Sims Recycling Solutions division is the world's largest electronics recycling business, handling more than 25 million items annually, from computers and TVs to refrigerators and toner cartridges, and division profits have expanded eleven-fold in just four years.
Ballard Power Systems (BLDP) of Canada is a leader in the development of fuel cells, which are similar to batteries, but require regular supplies of fuel. In its "Clean Energy Trends 2008" report, the Clean Edge research group forecast that fuel cell business would surge from an estimated $1.5 billion in 2007 to $16 billion in 2017, a higher growth rate than for most other forms of renewable energy. Ballard operates a joint venture operation in Japan with enormous potential, supplying households with cogeneration systems, which provide heat and power from one small unit.
Suntech Power Holdings (STP) of China is the world’s largest solar module manufacturer, with sales offices worldwide. It designs, develops, manufactures and markets a wide variety of solar products for residential, commercial, industrial and public utility sectors. Such has been its success that its boss, Zhengrong Shi, was at one point China’s wealthiest citizen.
Veolia Environnement (VE) of France seems to be on just about every green fund manager’s list, sometimes as the largest holding. Founded in 1853, it is a water specialist that is also active in waste management, energy services and transportation. It operates globally. In the US it is operator of the nation's largest drinking water partnership (Indianapolis), the largest water-related design-build-operate project (Tampa Bay Water's flagship surface water treatment facility) and the largest wastewater partnership (Milwaukee). It also has a series of major contracts in China - where water infrastructure is seriously under-developed - and these are providing it with some of its strongest growth.
September 14th, 2008
* Thanks to The Personal Financier for including this posting in the Carnival of Personal Finance.
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