Clean energy companies in an August fog

The Australian clean energy index fell slightly in August, pulled down by geothermal and waste stocks - namely Transpacific Services and Tox Free Solutions – although solar firms rose.

The Australian CleanTech Index fell slightly in August 2014 and underperformed both the Small Ordinaries and the ASX200.

The Australian CleanTech Index fell from 38.9 to 38.6 over the month of August recording a 0.8 per cent loss. This compared to the S&P ASX200 loss of 0.1 per cent and the S&P ASX Small Ordinaries Index gain of 2.1 per cent. The Australian CleanTech 20 recorded a 0.9 per cent loss.

The 12 month performance of the index remains ahead of its benchmarks, with an 11.9 per cent gain.

The best performing sub-indices for the month were the ACT Environment Index, with a gain of 33 per cent – led by Coffey's 37 per cent gain – and the ACT Solar Index with a 13 per cent gain.

The two weakest sub-indices through August were the ACT Waste Index which recorded a loss of 7 per cent and the ACT Geothermal Index recording a loss of 1.8 per cent.

Graph for Clean energy companies in an August fog

The market capitalisation of the 65 stocks in the Australian CleanTech Index is $15.2 billion falling from its peak of $16.3 billion in July 2007 but up from its low of $6.2 billion in July 2012.

The month’s performance was driven by eight companies with losses of more than 10 per cent. The greatest percentage losses were recorded by Quantum Energy (QTM), Eden Energy (EDE) and Greenearth Energy (GER) and the greatest market capitalisation losses were recorded by Transpacific Industries (TPI), Mighty River Power (MYT) and Tox Free Solutions (TOX).

These losses were partially offset by 16 companies recording gains of more than 20 per cent led by Actinogen (ACW), SWW Energy Limited (SWW) and CMA Corporation (CMV).

These best and worst performers are shown in the table below.

Graph for Clean energy companies in an August fog

Graph for Clean energy companies in an August fog

The Australian CleanTech Index is published each month on the Australian CleanTech website at www.auscleantech.com.au, in the Ethical Investor magazine, WME’s Environmental Management News, the Clean Energy Council website, the SIM Venture Securities Exchange website and the London-based Cleantech Investor.  

Monthly performance reports can be emailed directly by signing up to the distribution list at http://www.auscleantech.com.au/Pages/cleantech.html.

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