Pacific Green Technologies Inc (OTCMKTS:PGTK) share price has climbed to a new 52-week high at $1.54 advancing over 6% on double its average volume. There is a large momentum around clean power solutions market and PGTK is attempting to take aim and capture some of the growing market.
According to the International Economics Association market report that renewable energy will become the largest source of electricity by 2020 due to more efficiencies and advanced technologies and developments by companies. This couple with a global initiatives and eagerness to fight climate change. There report shows that clean energies show great promise due to their affordability, security, and positive impact on the environment. Faith Birol Executive Direction stated: “Renewables are poised to seize the crucial top spot in global power supply growth, but this is hardly time for complacency.”
PGTK has been making recent development advances to be a leader in the eco-friendly space. It has developed cutting edge control technology as a solution to make the earth more healthy and rely on sustainable energy versus fossil fuels. Through design and engineering excellence, PGTK has developed a new and innovative approach to turbulent wet scrubbing that is more efficient, smaller and more cost effective to build and to operate. Pacific Green Technologies have the worldwide rights to the patented emission control systems branded.
In other recent developments, PGTK signed a commercial joint venture agreement with a Chinese company called PowerChina Spem Co. The intent of the joint venture is to sell PGTK technology to the Peoples Republic of China. In order to sell in China, it must sell the technology through a local company as China requires outside companies to make investments in the country yin order to sell there.
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PGTK is currently trading at a $32.24 million market valuation. The company is a leader in eco-green technologies and the world is rallying around climate change and sustainable, eco-friendly solutions. PGTK has no revenues but with the announcement of the joint-venture, revenues should begin if the companies are able to execute and sell the technology.
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Disclosure: we hold no position in PGTK either long or short and we have not been compensated for this article.