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 stocks appeal to a lot of investors on an emotional and conceptual level, many offer only limited investment potential. That’s because green stocks may need a long time to move from the research or concept stage to profitability. The weak economy has also cast doubt on the future of government subsidies for green stocks.
To cut your 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 stock’s products go far beyond renewable power
RuggedCom Inc. (symbol RCM on Toronto), provides an example. We updated our buy/sell/hold advice on the stock in a just-published issue of Stock Pickers Digest, our newsletter for aggressive investing.
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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
Earlier this year, 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.
Green stocks: Smart meters provide further growth opportunities
Last year, RuggedCom bought WiNetworks, which makes technology that provides wireless broadband access. This purchase is already paying off. In the latest quarter, the company formed a partnership with Itron Inc. (symbol ITRI on Nasdaq), a leading provider of smart meters, which let electric utilities collect and analyze their customers’ consumption data.
RuggedCom will install its RuggedMAX technology in Itron’s OpenWay smart meters. That will give utilities a more complete system as they turn their distribution systems into “smart grids.” These grids help customers control their usage, and make it easier for them to use power when there is less demand.
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