Ripasso EnergyOn track, but cash uncertainty
In its first quarterly report, Ripasso Energy said that: 1) discussions with ferrochrome producer Glencore were progressing according to plan; and 2) more extensive security routines than first expected had caused a slight delay in its initial PWR BLOK delivery. We see a heightened risk to the investment case as the company’s current cash burn rate implies a need for a capital injection by Q1 2019, we believe. Still, we have raised our fair value to SEK10–15 (6–12) as we note brighter growth prospects for the PWR BLOK offering.Swedish Stirling AB, formerly Ripasso Energy AB, is a Sweden-based clean tech company active in the energy industry, which aims to convert heat energy to electricity. The company offers a variety of solutions enabling power generation. Its engine can handle a wide range of fuels, such as industrial residual and flare gases and convert them into electrical energy.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.