The Top Public Companies for an Energy Transition

This data-file compiles all of our insights into publicly listed companies and their edge in the energy transition: commercialising economic technologies that advance the world towards ‘net zero’ CO2 by 2050.

Each insight is a differentiated conclusion, derived from a specific piece of research, data-analysis or modelling on the TSE web portal; summarized alongside links to our work. Next, the data-file ranks each insight according to its economic implications, technical readiness, its ability to accelerate the energy transition and the edge it confers on the company in question.

Each company can then be assessed by adding up the number of differentiated insights that feature in our work, and the average ‘score’ of each insight. The file is intended as a summary of our differentiated views on each company.

The screen is updated monthly. At the latest update, in October-2021, it contains 220 differentiated views on 120 public companies.

The Top 40 Private Companies for an Energy Transition

This data-file presents the ‘top 40’ private companies out of several hundred that have crossed our screens since the inception of Thunder Said Energy, looking back across all of our research.

For each company, we have used apples-to-apples criteria to score economics, technical readiness, technical edge, decarbonization credentials and our own depth of analysis.

The data-file also contains a short, two-line description follows for each company, plus links to our wider research, which will outline each opportunity in detail.

Wind turbines: screen of resin and polymer specialists?

This data-file tabulates details for 20 companies that make epoxy- or polyurethane resins and adhesives, especially those that feed into the construction of wind turbines.

We think there are 5 public companies ex-China with 5-35% proportionate exposure to this sub-segment of the wind industry, which could therefore be exposed to an acceleration of wind capacity-building. 3 companies stood out in particular and our highlighted in the data-file.

For each example, we have tabulated their approximate size, geography, patent filings, employee-county and estimated their exposure to wind turbine polymers.

Glass fiber: screen of leading companies?

This data-file aims to provide an overview of the world’s largest glass fiber manufacturers, quantifying company size, production volumes (in kTpa), proportionate exposure to the theme (% of revenues), plant locations, employee counts and patent filings. Summary notes are also provided for each company.

The industry is opaque, so our analysis has simply aimed to triangulate between publicly available data-sources and make informed estimates.

Three of the largest five companies in the industry are now based in China, but increasingly expanding internationally.

Axial flux motors: leading companies and products?

This data-file profiles leading companies and products in the space of axial flux motors, in order to highlight ‘who they are’ and ‘what they do’.

One tab compiles the details of ten leading axial flux motor designs, with an average power density of almost 8kW/kg, which is even higher than the PMSRMs used in the latest Teslas, and around 10x higher than a typical AC induction motor in heavy industry. Other technical parameters of these motors are also compiled.

Leading companies are also profiled later in the data-file, based on reviewing over 1,200 patents, the companies’ size and their recent news flow. The pace of patent activity has been rising at a CAGR of 16% over the past decade, including traditional cap goods, autos and motors companies, plus pure-plays in axial flux motors (see diagram above).

Variable frequency drives: leading companies?

This data-file outlines the top twenty companies producing variable frequency drives to precisely control electric motors. In each case, we have quantified the companies’ size, market share, percentage exposure to the theme and important notes about their positioning. The top three companies are European capital goods players. High-quality VFDs may protect against growing competition from lower-cost Chinese and Asian manufacturers.

Insulation materials: leading companies?

This data-file profiles companies that make thermal insulation materials, as 50-75% of all buildings standing today will likely need insulation upgrades on the road to ‘net zero’, while the pace of progress should be amplified in times of energy shortages.

A dozen companies are compared, including their size, revenues, percent exposure to thermal insulation and a brief summary of their products.

Cobalt: leading producers?

Our global decarbonization models effectively burn through the world’s entirely terrestrial cobalt resources (data file here), mostly in EV batteries, making it one of the most crucial materials for an energy transition (data file here).

Hence this data-file reviews c25 mines around the world, and the resultant positions of 25 global cobalt producers. In each case, we tabulate the mine’s output, ore grade, processing technique and ownership details.

Two-thirds of global supply currently comes from the Democratic Republic of Congo, as a by-product of copper production, where the Katangan copper belt which has unique, stratiform sediment-hosted Copper-Cobalt ores.

The remainder is co-produced with nickel, in countries such as Australia, Canada, Cuba, Finland, Madagascar, Philippines, PNG, Russia, et al.

Full details are in the data-file, including our notes from an excellent, recent technical paper.

Copper: leading producers?

This data-file is a screen of the world’s largest copper miners and producers, covering 16 companies that produce half of all global output.

We have tabulated each company’s size, type, headcount, patent count, production, reserves, RP ratio, relative exposure, key assets and other notes.

The average company produces around 0.8MTpa of copper, has a 30-year reserve life, and derives 30% of its EBITDA from copper.

Small-scale wind turbines: leading companies?

This screen compares the offerings of a dozen small-scale wind turbine providers, with power ratings in the range of 30kW of lower, for residential energy generation. Costs range from $1,000-6,000/kW.

For each company, we have tabulated their size, experience to-date, turbine parameters, estimated costs and system reliability.

The three key challenges are performance, relaibility and cost. We believe that resolving these issues creates a material opportunity for small-scale wind generation.