3 Alternative Energy Penny Stocks to Watch Today

Alternative Energy Penny Stocks

These past few weeks have been marred by massive record-breaking wildfires covering nearly the entire North American West Coast with smoke. Environmental crises like these are hammering home the need for low-carbon energy solutions and driving demand for innovative renewable energy technologies. With that in mind, let’s take a look at three alternative energy penny stocks.

3 Alternative Energy Penny Stocks to Watch: Gevo Inc. (NASDAQ:GEVO)

alternative energy penny stocks

Gevo Inc. is a biofuel and renewable chemicals company based outside of Denver, Colorado. The company specializes in the development of low-carbon renewable bio-based fuels as an alternative to fossil fuels. The company converts biomaterial into isobutanol and hydrocarbons and is working to integrate those fuels into conventional fuels like gasoline, diesel, and jet fuel to lower the carbon emissions of these fuels.

As has been the case for most green technology stocks, Gevo’s stock price took a tumble throughout the first three months of the year. On August 20, however, the company’s stock price more than tripled to $1.84 per share after the Gevo announced that it had entered into a definitive agreement for a $50 million registered direct offering. As of September 17, the company’s stock price was $0.9 per share. Gevo Inc has a market capitalization of $47.9 million.

3 Alternative Energy Penny Stocks to Watch: Taronis Fuels, Inc. (OTC:TRNF)

Taronis Fuels is a clean technology company based out of Phoenix, Arizona, focused on offering energy solutions using proprietary clean gas technology. The company’s proprietary venturi plasma arc technology sterilizes liquid waste material into metal-cutting gas, which can be used for construction, demolition, metal fabrication, and emergency extraction applications. Taronis Fuels can also use this technology for turning waste material into usable energy.

Taronis Fuels’ stock took a slide as the COVID-19 pandemic choked markets, going from $0.23 per share in early March to $0.08 on March 23. As of closing on September 17, Taronis Fuels is sitting at 0.134 per share. The company has a market cap of $23.4 million.

On August 31, Taronis Fuels announced that the company would be moving into the Houston, Texas market. Taronis said in its release that the company had secured a client relationship in this market valued at over $1 million in annual revenues and that the company will be actively pursuing other companies in the Houston market.

3 Alternative Energy Penny Stocks to Watch: EarthRenew Inc. (CSE:ERTH)

Based in Calgary, Alberta, EarthRenew Inc. is an agricultural technology company with proprietary technology that transforms livestock waste into organic fertilizer. EarthRenew accomplishes this by applying exhaust from a natural gas turbine to thermally treat livestock waste. The energy that the gas turbine generates is then sold to offset the process’s fuel costs.

alternative energy penny stocks

After taking a fall to $0.15 per share in late March, EarthRenew recovered to reach a high of $0.40 per share in mid-June. As of closing on September 17, EarthRenew’s stock price was sitting at $0.24 per share. The company has a market cap of $10.9 million.

On August 26, EarthRenew released the results from field trials conducted with Lethbridge College. These results showed that EarthRenew’s fertilizer formulations increased plant growth by up to 207% for barley and up to 49% for peas during the germination phase.

Takeaway

2020 has been a chaotic year for the market, and it hasn’t been kind to alternative energy stocks. The need for these technologies is not going away, however. As more events like the ongoing wildfires on the West Coast put carbon emissions in the spotlight, demand for green technologies is likely to grow.

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