Ameresco Inc (AMRC) stock faced negativity on Monday, April 12, 2021. AMRC stock lost 1.01% in the morning session and it lost a further 4.40% in the after-hours trading. As of this writing, it has lost 4.62% in Tuesday’s pre-market session. AMRC shares have gained 177.56% over the last 12 months, and over the past three months, the stock has lost 19.88%.
AMRC ranked No 1
On April 12, 2021, Guidehouse Insights ranked Ameresco Inc number one in their Q1 2021 Energy as a Service (EaaS) Leaderboard report.
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Ameresco was recognized for its ambitious vision for EaaS, expertise in technology solutions, track record of success across customer segments and ability to provide financing for EaaS projects.
Commencing phase 2 investigation of flow battery technology
On April 7, 2021, Ameresco Inc said that it has begun the 2nd phase of investigation into how to flow battery technology could support microgrids. Department of Defense (DoD) is providing funding for the investigation and phase one investigation was completed in April 2020.
In Phase 2, the investigation will be carried out to physical validation and evaluation of flow batteries at the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) in Golden, CO.
Partnership with Holy Cross Energy and Colorado Mountain College
On April 6, 2021, Ameresco Inc said that it has signed a partnership agreement with Holy Cross Energy (HCE) for a solar and battery energy storage project, Colorado Mountain College will provide the land lease at its Spring Valley Campus for the project.
Expanding health and safety initiatives
On March 29, 2021, Ameresco Inc said that it’s going to include a global safety ambassador program that will expand its health and safety initiatives.
Ameresco has historically utilized an integrated safety management approach to make sure that everyone is safe on its working sites and holds a variety of current OSHA, Environmental, and USACE EM 385-1-1 certifications.
Commencing of commercial operations
On March 22, 2021, Ameresco Inc reported the commencing of commercial operation at its solar energy site in Tiverton, Rhode Island, and mechanical completion at its site in Cumberland, Rhode Island.
Ameresco installed over 12,000 modules with an electricity generation capacity of 4.95 MW at a former cornfield which will provide a cost savings of approximately $380,000 in the first year alone.
Conclusion
Despite the quite impressive business developments, AMRC stock facing negativity which is a bit strange. We can assume a recovery in the coming days.
