Hydrogen & Electrons: Wind of Change?

Wind energy players Vestas and Siemens Gamesa and supplier TPI Composites have reported underwhelming earnings and cut guidance in recent quarters due to a combination of weak revenue momentum (flattish installations globally in 2021), cost inflation (steel and resins, logistics) and supply chain issues. And Covid-linked lockdowns in China are unlikely to help in the short-term.…

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Hydrogen & Electrons: Inverters, A Major Unrecognized Component Of Decarbonization

Talking about cleantech, and more specifically about inverters which are tightly linked to solar panels, can appear quite “ambitious” given the ongoing investigation by the US Department of Commerce seeking to determine whether Chinese solar equipment producers circumvent existing tariffs and anti-dumping duties imposed on them by setting up export facilities in Vietnam, Cambodia, Malaysia…

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Hydrogen & Electrons: The Nuclear Industry Is Also Making Its Technology Transition

Amid the current energy crisis, nuclear power is making a come-back despite ongoing nuclear waste issues. The idea has gained acceptance as nuclear energy is increasingly considered essential for combating climate change, following the International Energy Agency (IEA) and the Intergovernmental Panel on Climate Change (IPCC) incorporating nuclear in their models and estimates for a…

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Fintech: Brazilian Fintech In The Spotlight

We have built a material exposure to Brazilian Fintech names over recent months, considering that Brazil was likely to accelerate its digital shift as it was and still is one of the most severely pandemic-hit countries. The bet is paying off as confirmed last night by the impressive Q2 metrics reported by StoneCo, which offers…

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Food Revolution: Unabated Growth In Online Food Delivery

HelloFresh, the leading German online mealkit provider, just pre-announced impressive figures for Q3 with revenue expected up 120% to around EUR970m (vs. EUR836m initial guidance) and EBITDA expected to rise 7x to around EUR115m (vs. EUR73m initially). The company raised its full-year guidance accordingly, now forecasting 95%-105% revenue growth vs. 75%-95% previously. The read-across is…

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Digital Security: Cybersecurity On Steroids!

Back in April, we commented that a new generation of cloud-native cybersecurity companies (Zscaler, Okta, CrowdStrike…) was likely to disrupt the actual leaders (Check Point, Palo Alto…). Clearly, the accelerated digitization of the economy in the last couple of months helped them deliver on our expectation, with several players reporting impressive earnings last week and…

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Food Revolution: Agritech M&A Just Getting Started

Leading agriculture machinery maker CNH announced yesterday the takeover of Raven Industries, a portfolio company, for $2.1bn including debt.  Raven is mainly known for its precision agriculture and autonomy technology with a range of products covering machinery guidance & steering, field computers and data management. Raven is also active in two other businesses (engineered films and…

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