Standard & Poor’s and the TMX Group, which operates the Toronto Stock Exchange, recently launched the S&P/TSX Clean Technology Index. This new index consists of 21 TSX-listed green technology stocks that provide products and services that help solve environmental problems.
Focus on quality when investing in green technology stocks
A number of the companies on the S&P/TSX Clean Technology Index are speculative in nature. (However, the index does contain one established company that may have found a profitable niche in wind and solar-power generation. Read on for further details.)
We continue to recommend a number of companies that are now involved in, or are planning to expand into, green technology and green power production.
However, while green technology stocks appeal to a lot of investors on an emotional and conceptual level, many offer only limited investment potential. That’s because they may need a long time to move from the research or concept stage to profitability. The recession has also cast doubt on the future of government subsidies for green stocks.
To cut risk in green stocks, we recommend focusing on established firms that have a sound base of other operations, or whose products have a number of different uses.
This green technology stock’s products go far beyond renewable power
RuggedCom Inc. (symbol RCM on Toronto), provides an example. We cover the stock (which is on the new S&P/TSX Clean Technology Index), in Stock Pickers Digest, our newsletter for aggressive investing. We recently updated our buy/sell/hold advice on RuggedCom in a Stock Pickers Digest hotline.
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At first glance, RuggedCom’s connection to clean technology is not immediately clear. The company makes computer-networking equipment that is used in harsh environments.
Its products are designed to reliably operate under high levels of electromagnetic interference. They can also cope with wide variations in temperature and humidity, as well as vibration and exposure to dust. They also work while exposed to such things as corrosive gases and water.
The company’s products include Ethernet switches that connect computers together and let them exchange data at high speeds. It also makes Internet-based communications networks that are faster and more functional than systems that are now used in harsh environments.
RuggedCom’s highly reliable equipment is perfect for renewable power generation
The durability of RuggedCom’s products is what’s caught the attention of renewable-power companies. That’s because these companies’ projects, such as solar and wind farms, tend to be located away from heavily populated areas.
In January 2010, RuggedCom sold over $2.1 million U.S. of equipment for use in wind farms in China. That was a record order for the company.
The Ethernet switches for the Chinese contract are highly resistant to electromagnetic interference and heavy electrical surges. They can also operate in temperatures ranging from -40 degrees C to +85 degrees C (with no fans). Moreover, the switches are designed to be highly reliable, and include a number of cyber-security features.
We’ll keep you updated on RuggedCom’s renewable-energy expansion
RuggedCom’s move to profit from wind and solar power is what got the company a place on the S&P/TSX Clean Technology Index. This could be an added source of future growth for the company. We’ll keep you up to date on RuggedCom’s progress in our Stock Pickers Digest newsletters and hotlines.
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