Energy has been making its way back from historic lows over the past three months, sometimes for reasons linked to the pandemic, sometimes linked instead to the squabbling among the major oil producers over production costs.
In New York, energy forged ahead but 0.01%, while in Toronto (for which there are no representatives in today’s column), the sector nicked up 0.1%.
One of the more exotic energy companies took over the spotlight on Monday, as Syracuse, Ind.-based Znergy, Inc. (OTC PINK:ZNRG), a leading provider of new LED lighting and turnkey LED lighting conversions for businesses, has entered into a Purchase Order (PO) Funding Agreement with FSW Funding.
The agreement provides annual funding of up to $150 million, which will speed along Znergy’s greater rate of orders, including its largest retrofit contract to-date with one of the top five largest worldwide retail clothing chains.
To quote CEO Dave Baker, “Our fast-growing company is receiving LED retrofit orders at a greater rate than ever before in the history of the company. Short-term purchase order (PO) financing supports us in meeting supplier requirements and helps bridge the gap between when purchase orders are received, project completion is accomplished, and client payment is received. We’re also glad to hear with the re-opening of many states how receptive businesses are now to this commonsense cost reduction program.”
Investors will be even gladder to hear the stock climbed 2.32 cents, or 13.9%, to 19 cents late Monday afternoon, on volume of 207,000 shares.