Energy Tech Stock Charges Higher on Contract Win

Eguana Technologies Inc. (TSXV:EGT), an energy tech stock, surged after entering into a development contract with a renewable energy company

Sean Mason | January 21, 2020 | SmallCapPower

A million dollar plus contract award powered a small energy tech stock sharply higher Tuesday. Here’s some small stocks making big moves on Tuesday, January 21, 2020 (as of 4 pm EST):

Eguana Technologies Inc. (TSXV:EGT), an energy tech stock, continued to move higher Tuesday, up 32% to $0.125 following a 19% gain on Monday, after announcing that it has entered into a development contract with a leading renewable energy company to develop and certify proprietary residential storage systems for distribution through its sales channels across global markets. Eguana has confirmed the contract value of +$1 million and has received upfront payments of over $750,000 with the balance due upon successful product certification.

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As well, shares of Cipher Pharmaceuticals Inc. (TSX:CPH) slipped 16% to $1.09 as the specialty pharmaceutical company said it has received a Notice of Termination from Bausch Health in connection with the License, Development and Commercialization Agreement of Trulance (plecanatide).

exactEarth Ltd. (TSX:XCT), meanwhile, reported that it has reached agreement on updated terms to the original Satellite-AIS Business Agreement with L3Harris Technologies, Inc. entered into in 2015, which the Company says will reduce and simplified the cost structure for its Satellite-AIS data services going forward, while opening up additional growth opportunities for both parties. exactEarth stock popped 39% to $0.43 following the announcement.

Finally, Prophecy Development Corp. (TSX:PCY) shares gained as much as 14% after the resource junior announced the first step-out diamond drilling results from its 100%-controlled Pulacayo silver project in Bolivia, which included 10 meters of mineralization grading 147 g/t silver, 9.8% zinc, and 2.0% lead (539 g/t silver equivalent).

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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