US to spend $369B on grenn Energy, $CBLU.v to benefit? One of my clean tech/green power picks Clear Blue Technologies (CBLU.V CBUTF) jumped up on the TSXV today, closing up 8% with high volume.
Personally, I don't find this movement too surprising considering that the company is poised to benefit from the recently passed Inflation Reduction Act.
This bill includes a promise to spend $369B on climate change mitigation and energy provisions with the goal of reducing greenhouse gases by 40% in the next 8 years.
https://www.forbes.com/sites/miriamtuerk/2022/08/04/reviewing-the-us-climate-agreement--a-369-billion-supercharge-that-the-clean-tech-industry-needs/?sh=7cbfaf2345ec
The act specifically dedicates billions toward solar power spending.
CBLU specializes in cost-effective and reliable off-grid solar power. The company has several unique solar power offerings which power everything from street lights to the internet.
Because of this, I think we could likely the increased US government spending on Solar help CBLU with its continued growth
CBLU @ 0.135
MC $10.344M