Time is of the essence. Climate change is the most fundamental challenge of our generation. With the amendment of the Climate Protection Act 2021, Germany, for example, has tightened the requirements even further and anchored the goal of greenhouse gas neutrality by 2045. For the transformation of transport, which is responsible for around 20% of greenhouse gas emissions according to the German Federal Environment Agency, this means a tour de force that is almost impossible to implement in practice. The hurdles are particularly high in the transport sector. In addition to horrendous investments by the commercial vehicle industry, the lack of charging and refueling infrastructure is an obstacle to being able to bury the internal combustion engine in a timely manner. In a joint declaration at the end of last year, European truck manufacturers such as Daimler, Scania and MAN announced their intention to stop producing diesel trucks by 2040 in order to be climate-neutral by 2050. However, an immediate solution is offered by the Canadian company dynaCERT, which achieves significant emission reductions with its patented HydraGEN technology. With the successful completion of a pilot project, nothing now stands in the way of entry into the mass market.
For months, the Chinese technology company BYD was able to escape the general market correction. While the competition around the former top dog Tesla had to struggle with closures of their production facilities due to the Corona pandemic, the Shenzhen-based company was largely spared and secured its place in the sun in Chinese electric car sales, which it was able to expand significantly in the course of the year. However, since the sale of a block of shares by Berkshire Hathaway, the investment firm managed by Warren Buffett, became known, the BYD share price went steeply downhill, losing around 40% of its value at the end of August. Even strong figures for the third quarter could not stop the downward spiral.
Resources on earth are unequally distributed. Especially in the case of important and rare metals, many production sites are located in China and Russia. Immediately, this brings up political discussions because the strain on supply chains should not lead to dependence on the West for important supplies from geopolitically dubious zones. Recently, delivery of the US's new F35 fighter jet to the US military and allies had to be halted after key components were arguably produced in China. US procurement law prohibits military equipment from being purchased from foreign suppliers. That makes it clear: Almonty Industries is one of the upcoming key producers for the strategically important metal tungsten.
Opportunities arise for companies when copycat drugs are just as good as the original. The Canadian company XPhyto has taken a big step toward market readiness in the fight against Parkinson's disease. Over the next five minutes, we briefly explain what is important now and how great the opportunities are. We also show how XPhyto is helping to counter the opioid wave in the USA and what imagination lies in the little-noticed business field of psychedelics.
Politicians worldwide are committing themselves to increasingly ambitious and binding targets for the share of alternative energies in the overall energy mix. Corresponding green projects are being promoted with programs worth billions. For the transport and traffic sector, the European Commission has now prescribed a reduction in greenhouse gas intensity of at least 16% by 2030. The key to achieving the climate targets here lies in the switch to green hydrogen as an energy carrier. To ensure that production can start immediately, European Commission President Ursula von der Leyen announced the creation of a new "European Hydrogen Bank" and released a budget of EUR 3 billion from the existing Innovation Fund. First Hydrogen covers the complete value chain with its "Hydrogen-as-a-Service" model and is expected to benefit in all business areas.
It has happened. Varta AG from Ellwangen has had to suspend its annual targets. Even the complete guidance has been cashed in. In plain English: Varta is stuck in a cost squeeze and cannot pass on the increased manufacturing costs to its customers fast enough. As a result, this leads to temporary losses that will only be recouped when the world market price for Varta's products is again significantly higher than the production price. Specifically, Varta reported that it would no longer be able to achieve its sales and earnings targets in Q3 as well as for the current year. The share price reacted with a 50% drop. Where do we go from here?
The history of precious metal mining in Mexico goes back almost 600 years. As early as the Middle Ages, the glitter of gold exerted a strong attraction among the indigenous people and the later conquerors. Ultimately, the greed for gold was a trigger for many wars, and the advance of the Spanish and Portuguese to Latin America. Today, Mexico is one of the major mining states with a focus on gold and silver. In the state of Sonora, Tocvan Ventures is preparing to start commercial production with two very interesting projects. The prospects are bright and to soon be at the forefront in the slipstream of the big players.
In international comparison, Germany's financial center is again in danger of falling behind. The German banking summit exposes the weaknesses of our financial system, as it now needs tried and tested remedies. Against the backdrop of the current political upheavals, Germany's vulnerability as an industrial location is becoming apparent in terms of energy security, access to raw materials and the future viability of industry. SMEs are facing a cost explosion in every direction, and the necessary refinancing could also become really expensive in view of the economic parameters. After all, the spectre of insolvency is once again looming, with the government's COVID measures barely noticeable, at least in the last two years. The collapse of brands such as Hakle and Görtz, however, is alarming for the financial world. However the crisis takes its course, how will Deutsche Bank navigate its way through the storm?
This news even drowned out the disastrous start to the season of the "Big City Club" Hertha BSC in the capital: The group of companies, formerly known as wallstreet:online AG and now renamed Smartbroker Holding AG, parted company with its CEO Matthias Hach with immediate effect. According to founder and new boss, André Kolbinger, the reason was a difference of opinion regarding the future implementation of "Smartbroker 2.0". The launch of the major project has now been postponed to mid-2023, and a profit warning has already been issued. As a result, the share plummeted by more than 50%. As the new management undoubtedly expects the "online broker for the next generation" to take off, the current level could offer a long-term opportunity for disproportionate share price gains.
The quest for independence from Russian oil and gas is pushing politicians to come up with forward-looking alternative solutions. An agreement has now been concluded between Canada and Germany that is likely to represent a quantum leap for the hydrogen industry. The joint declaration of intent to invest in hydrogen and establish a transatlantic supply corridor between Canada and Germany marks the beginning of Canada's establishment as a major hydrogen producer. One of the biggest beneficiaries is likely the Canadian company First Hydrogen. CEO Balraj Mann already announced that "our 'Hydrogen-as-a-Service model' will be an emissions-free ecosystem solution for Canada and the rest of the world." The opportunities for this are excellent. At the same time, First Hydrogen is valued at a market capitalization of CAD 208.79 million and is still far from the billion-dollar stock market values of its competitors.