Airlines and energy
(AI-generated stock image)

As the markets on Bay Street and Wall Street show mixed signals, tech stocks are rallying and energy shares are lagging, the TSX is still capturing attention with its activity in various sectors. This week, three publicly listed companies have been generating significant buzz among investors.

Aviation stock Bombardier Inc. (TSX:BBDForum) is set to showcase its premier business jets, the Global 7500 and Challenger 3500, at the Catarina Aviation Show in São Paulo, Brazil. This event, running until Saturday, marks the first stop of Bombardier’s demo tour, presenting the latest advancements in its aircraft portfolio to the Latin American market.

With nearly 600 business jets operating across Latin America, Bombardier emphasizes the superior performance, cutting-edge technology and luxurious cabins of its jets. The Global 7500, capable of connecting São Paulo directly to global hubs such as Dubai, London, and New York, boasts an impressive range of 14,260 kilometres and a top speed of Mach 0.925. The Challenger 3500 offers efficient travel from São Paulo to destinations such as San Juan and Panama City and can reach most European locations with a single stop.

(Bombardier Global 7500 photographed in 2019. Source: Bombardier)

Currently more than 170 Global 7500 aircraft are in service that have accumulated more than 40 unofficial industry speed records. Similarly, the Challenger 300 series, with more than 950 jets in operation worldwide, continues to be a popular choice among business travellers.

Sonoro Energy Ltd. (TSXV:SNV, Forum), a major player in the energy sector, has announced a strategic move to acquire a significant stake in a United Arab Emirates-based company, MENACo. This transaction involves Sonoro acquiring 20 per cent of MENACo’s issued capital through the exchange of 40 million common shares at a deemed value of $0.12 per share.

MENACo specializes in well management and engineering, procurement and construction services in the Middle East and North Africa (MENA) region. It holds a master service agreement with a national oil company for managing oil and gas wells, including projects aimed at increasing production by more than 100,000 barrels of oil per day. This acquisition aligns with Sonoro’s goals of expanding its operational capabilities and market presence in the oil and gas industry.

What the “Buzz”

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Upon completion of the transaction, MENACo’s shareholders will collectively own 15.2 per cent of Sonoro’s outstanding shares. The acquisition hinges upon receiving all necessary regulatory and shareholder approvals, and it is not expected to result in the creation of new insiders within Sonoro.

PyroGenesis Canada Inc. (TSX:PYRForum), a leader in technology solutions for heavy industry decarbonization, has secured contracts worth C$2.5 million for the Varennes Carbon Recycling plant, a C$1.2 billion biofuel project under development in Québec. Pyro Green-Gas, a subsidiary of PyroGenesis, will manage the engineering, design, and fabrication of a thermal swing adsorption system to dehydrate pure oxygen produced by the plant’s electrolyzers.

The Varennes project, supported by industry giants such as Shell, Suncor, Proman, and Enerkem, aims to convert 200,000 tonnes of non-recyclable waste and biomass into 125 million litres of chemicals and biofuels annually. This facility will be Canada’s largest biorefinery, utilizing clean electricity and producing renewable green hydrogen and oxygen on-site, leading to significant emissions reductions equivalent to taking 50,000 passenger vehicles off the road each year.

(Source: Varennes Carbon Recycling)

Pyro Green-Gas’ expertise in biogas upgrading and air pollution controls positions it as a crucial player in this transformative project, with expected delivery of the contracts by Q4 2024.

Investors should keep a close watch on these TSX-listed companies as they continue to make headlines with their initiatives and innovative projects. Bombardier’s advancements in aviation, Sonoro Energy’s strategic acquisition, and PyroGenesis Canada’s contributions to a major biofuel project highlight the dynamic opportunities within the Canadian market. Staying informed on these developments can provide valuable insights for making well-timed investment decisions.

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(Top image: AI-generated file photo)

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