Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

Hyundai Motor Company manufactures, sells, and exports passenger cars, trucks, and commercial vehicles. The Company also sells various auto parts and operates auto repair service centers throughout South Korea. Hyundai Motor provides financial services through its subsidiaries.

<ul><li>Micron is sampling MRDIMMs for AI and HPC applications, exploring innovative solutions for data processing needs.</li><li>Hyundai Motors plans to add 300 new charging stations to support the expansion of their hydrogen bus fleet, promoting eco-friendly transportation options.</li><li>German electrification struggle worsens with supplier bankruptcy up 60%, hindering the widespread adoption of electric vehicles and renewable energy technologies.</li></ul>

Micron is sampling MRDIMMs for AI and HPC applications, exploring innovative solutions for data processing needs.Hyundai Motors plans to add 300 new charging stations to support the expansion of their hydrogen bus fleet, promoting eco-friendly transportation options.German electrification struggle worsens with supplier bankruptcy up 60%, hindering the widespread adoption of electric vehicles and renewable energy technologies.

Tech Supply Chain Tracker (20-Jul-2024): Micron samples MRDIMMs for AI, HPC.

Founder, CEO, GSBR Research

Garvit Bhandari

Founder, CEO

Leading Provider of Equity and Investment Research

GSBR Research

We are an independent equity research provider focused on covering global markets. The aim of the research is to provide an unbiased view of the fundamentals of the company.

Jericho Energy Ventures  / Equity Bottom-Up

Jericho Energy Ventures Inc. is focused on advancing the low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture, and new energy systems. Jericho Energy Ventures operates worldwide.

<ul>
<li>JEV announced plans to separate its Hydrogen Platform into a separate public company (SpinCo), potentially via a spin-off . The parent will retain the oil &amp; gas business.</li>
<li>The spin-off makes sense given the lack of synergy between the businesses. The transaction provides each business with access to equity and debt capital markets to fund their growth strategies.</li>
<li>We anticipate the spin-off to be  value accretive for shareholders. We expect re-rating as the green energy business will receive higher multiple compared to the hydrocarbon assets.</li>
</ul>


JEV announced plans to separate its Hydrogen Platform into a separate public company (SpinCo), potentially via a spin-off . The parent will retain the oil &amp; gas business.
The spin-off makes sense given the lack of synergy between the businesses. The transaction provides each business with access to equity and debt capital markets to fund their growth strategies.
We anticipate the spin-off to be  value accretive for shareholders. We expect re-rating as the green energy business will receive higher multiple compared to the hydrocarbon assets.


Spin-Off Analysis - Jericho Energy Ventures Inc. (TSXV: JEV; OTC Pink: JROOF)

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>Weaker-Than-Expected job openings data prompted hopes for Fed rate cuts, pushing Treasury yields down for the fourth consecutive day</li>
<li>A coalition of over 400 Japanese companies plans to establish a $1 billion fund by September to enhance hydrogen supply chains</li>
<li>UNIQLO's May 2024 same-store sales in Japan, including online, rose by 8.4% year-on-year, attributed to strong business during the Golden Week holiday</li>
</ul>


Weaker-Than-Expected job openings data prompted hopes for Fed rate cuts, pushing Treasury yields down for the fourth consecutive day
A coalition of over 400 Japanese companies plans to establish a $1 billion fund by September to enhance hydrogen supply chains
UNIQLO's May 2024 same-store sales in Japan, including online, rose by 8.4% year-on-year, attributed to strong business during the Golden Week holiday


Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Plug Power, Inc. designs, develops, manufactures and commercializes fuel cell systems for electric lift trucks and materials handling equipment.  The Company offers its products globally to retail, grocery, and institutional food distribution centers as well as manufacturing facilities.

<ul><li>Plug Power reported its first quarter 2024 earnings and the quarter was identified as one with key strategic decisions focused on enhancing cash management strategies and intensifying sales growth.</li><li>To reinforce its leadership in the green hydrogen economy, significant strides were made in scaling up operations.</li><li>The company's production facilities in Georgia and Tennessee were reported to be operating at full capacity, while the commissioning of a new plant in Louisiana was eagerly expected.</li></ul>

Plug Power reported its first quarter 2024 earnings and the quarter was identified as one with key strategic decisions focused on enhancing cash management strategies and intensifying sales growth.To reinforce its leadership in the green hydrogen economy, significant strides were made in scaling up operations.The company's production facilities in Georgia and Tennessee were reported to be operating at full capacity, while the commissioning of a new plant in Louisiana was eagerly expected.

Plug Power Inc.: A Tale Of Ongoing Expansion in the Green Hydrogen Production! - Major Drivers

Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Ceres Power Holdings plc engages in the development and commercialization of fuel cell technology in the United Kingdom, Asia, and Europe. The company offers Ceres Steel Cell, a fuel cell technology that converts natural gas or hydrogen directly into electrical power. It provides its products for use in the distributed energy products for home and business customers. Ceres Power Holdings plc was founded in 2001 and is based in Horsham, the United Kingdom.

<p>Ceres Power Holdings’ innovative technology uses electrolysis to produce green hydrogen and solid oxide fuel cells to generate power. In a year where it moved to the Main Market of the London Stock Exchange, it recorded revenue growth of 13% and gross margin expansion to 61% (the highest in the sector, according to management), but is yet to record an operating profit (FY23 operating loss of £59.4m versus £54.0m in FY22). Ceres continued its strategy to drive innovation and technology across solid oxide fuel cells (SOFC) and hydrogen electrolysers (SOEC), increasing its R&D spending by 11% y-o-y to £54m (FY22: £48.5m). Management guides for FY24 revenue to be double that achieved in FY23, based on existing contacts. Net cash, including short term investments, was £140m at the end of FY23.</p>

Ceres Power Holdings’ innovative technology uses electrolysis to produce green hydrogen and solid oxide fuel cells to generate power. In a year where it moved to the Main Market of the London Stock Exchange, it recorded revenue growth of 13% and gross margin expansion to 61% (the highest in the sector, according to management), but is yet to record an operating profit (FY23 operating loss of £59.4m versus £54.0m in FY22). Ceres continued its strategy to drive innovation and technology across solid oxide fuel cells (SOFC) and hydrogen electrolysers (SOEC), increasing its R&D spending by 11% y-o-y to £54m (FY22: £48.5m). Management guides for FY24 revenue to be double that achieved in FY23, based on existing contacts. Net cash, including short term investments, was £140m at the end of FY23.

Ceres Power Holdings - Strategic partnerships powering growth

Hydrogen Economy
Future of Energy

Tech Supply Chain Tracker (20-Jul-2024): Micron samples MRDIMMs for AI, HPC.

Micron samples MRDIMMs for AI/HPC, Hyundai adds 300 charging stations for hydrogen buses, German electrification woes, India's semiconductor...

Tech Supply Chain Tracker

Spin-Off Analysis - Jericho Energy Ventures Inc. (TSXV: JEV; OTC Pink: JROOF)

JEV to separate Hydrogen Platform business into a separate publicly listed company (SpinCo), potentially via a spin-off. Anticipated to be value...

GSBR Research

Ohayo Japan | Commodities Smoked

Weaker job openings data prompts hopes for Fed rate cuts, Japanese companies plan $1 billion hydrogen fund, UNIQLO sees 8.4% sales increase in Japan.

Mark Chadwick

Plug Power Inc.: A Tale Of Ongoing Expansion in the Green Hydrogen Production! - Major Drivers

Plug Power reported its first quarter 2024 earnings and the quarter was identified as one with key strategic decisions focused on enhancing cash...

Baptista Research

Ceres Power Holdings - Strategic partnerships powering growth

Ceres Power Holdings’ innovative technology uses electrolysis to produce green hydrogen and solid oxide fuel cells to generate power. In a year...

Edison Investment Research

Tech Supply Chain Tracker (20-Jul-2024): Micron samples MRDIMMs for AI, HPC.

Micron samples MRDIMMs for AI/HPC, Hyundai adds 300 charging stations for hydrogen buses, German electrification woes, India's semiconductor...

Tech Supply Chain Tracker

Spin-Off Analysis - Jericho Energy Ventures Inc. (TSXV: JEV; OTC Pink: JROOF)

​JEV to separate Hydrogen Platform business into a separate publicly listed company (SpinCo), potentially via a spin-off. Anticipated to be value...

GSBR Research

Ohayo Japan | Commodities Smoked

​Weaker job openings data prompts hopes for Fed rate cuts, Japanese companies plan $1 billion hydrogen fund, UNIQLO sees 8.4% sales increase in Japan.

Mark Chadwick

Plug Power Inc.: A Tale Of Ongoing Expansion in the Green Hydrogen Production! - Major Drivers

Plug Power reported its first quarter 2024 earnings and the quarter was identified as one with key strategic decisions focused on enhancing cash...

Baptista Research

Ceres Power Holdings - Strategic partnerships powering growth

Ceres Power Holdings’ innovative technology uses electrolysis to produce green hydrogen and solid oxide fuel cells to generate power. In a year...

Edison Investment Research

JEV to separate Hydrogen Platform business into a separate publicly listed company (SpinCo), potentially via a spin-off. Anticipated to be value...

Weaker job openings data prompts hopes for Fed rate cuts, Japanese companies plan $1 billion hydrogen fund, UNIQLO sees 8.4% sales increase in Japan.