Mr. Stine: I definitely cover a pretty broad grouping of companies, but can separate them into a few subsets. First would be alternative vehicles and fuels, and my coverage here includes Clean Energy Fuels. They are the leading supplier of compressed and liquefied natural gas as a transportation alternative to gasoline and diesel. I cover Fuel Systems Solutions (FSYS), which provides alternative fuel systems and components for the conversion of light-duty vehicles to bi-fuel, enabling a vehicle to run on either propane or CNG and then have gasoline or diesel as a backup. The company also sells fuel systems for industrial applications, such as power generation and forklifts. I cover Westport Innovations, which is a dominant provider of natural gas engines. On the medium-duty side in transit and refuse vehicles, this is through a joint venture with Cummins (CMI). Then on the heavy-duty side, they sell LNG fuel systems, and those would be for heavy-duty Class 8 trucks. The last company in this grouping is Chart Industries . It's a little bit different than the others. They provide cryogenic process equipment, and also cryogenic distribution and storage equipment for hydrocarbon and industrial gases. So it's very much tied to the global growth of LNG. Chart also sells LNG onboard fuel tanks for vehicles, and also tanks and dispensers for natural gas fueling infrastructure.
The next subset I would talk about is distributed generation. There are two companies here. One is Capstone Turbine (CPST), which manufactures and sells microturbines for on-site power generation and thermal energy. These products have significantly lower emissions, much lower maintenance costs and multiple applications, including hybrid electric vehicles. I also cover PowerSecure (POWR), specializing in distributed generation for commercial and industrial customers for peak-saving and backup power. They've also got a utility infrastructure business where they work closely with their utility partners, and they've also got a very high-growth LED lighting business.
I cover two water companies. One is Badger Meter. They manufacture and sell water meters, basic meters and automated meter reading meters, and they also sell specialty flow measurement products for industrial applications. The second in the water grouping would be Insituform . Their primary business has been trenchless sewer rehabilitation on a global basis. But they also do work and have exposure to energy and mining end markets.
Then I cover three other companies. One is Apogee Enterprises (APOG), which sells very high-end, energy efficient glass for buildings, including office, hotel and institutional buildings. Flow International manufactures and sells water jet cutting systems, which are an alternative to more traditional cutting methods, such as saws, plasma and lasers. And then lastly, LSB Industries (LXU), which has a geothermal heat pump business for both residential and commercial use, and also a chemical business, which sells nitrogen-based products for industrial mining and agricultural applications.
Tickers included in this excerpt: BMI, CLNE, ECA, FLOW, GTLS, INSU, R, T, UPS, VZ, WPRT
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