Guillaume Toussaint

More capex investments are eagerly required for critical mineral mines to achieve our transition to net zero. Fierce battles for large Copper prepayments are starting to emerge (e.g. Mercuria & Trafi with ERG) but the scope of required metals is of course much wider. Including critical minerals in UN SDGs would be a great first step to unlock more capital investment into the sector.

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Investment Idea: US Small & Mid Caps - Time to catch up US Small and Mid (SMID) Caps have lagged large caps and especially big tech so far. The S&P 500 went up by 15.3% in H1 2024 whereas the Russell 2000 Index (small and mid cap stocks) finished only 1.7% higher.   While big tech is more driven by liquidity and adoption, SMID caps typically follows the business cycle. Data suggest that the business cycle has become consistent and more predictable than before, and that the economy is expected to expand over the coming months.   Earnings have been historically strong vs large caps and are currently improving. SMID caps have shown higher earnings growth than large caps over the past decade and are expected to post even better results as the economy continues to expand.   Catalyst – SMID caps are highly sensitive to interest rates. Small caps dedicate over 30% of their EBITDA to servicing debt, more than three times their large-cap peers. Recent cracks in the labour market and normalization in inflation point towards imminent rate cuts, which should improve the profitability of SMID caps and propel prices higher. If you wish to gain access to the full presentation of the idea, do not hesitate to contact our team: Romain Duchenne: [email protected] Hugo Poupinel: [email protected] For more information on our company, please access the website below: https://lnkd.in/eFBWjTG4

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Focusing on New Nuclear, Giuseppe J. Sangiovanni, GP and co-founder of Exergon, explains to L'AGEFI what is at stake with the #Nuclear Spring 🇪🇺 📣 Main take aways ✅ 1/ France, the world's second largest producer of nuclear electricity, is reviving its nuclear ambitions with 6 new projects in the pipeline, a figure that could more than double. ✅ 2/ This revival is accompanied by a flurry of technological activity, particularly around the mastery of nuclear fusion and the fourth generation of fission reactors. These reactors aim to improve intrinsic safety and manage nuclear waste efficiently.  ✅ 3/ The fourth generation of fission reactors must meet two major challenges: improved safety waste management. AUDACIA, pioneer in deeptech venture capital fund, has launched Exergon, a European decarbonized energy fund. Beyond impact, Exergon invests in the key energy technologies to reach carbon neutrality by 2050. In other words : "hardware” start-ups in the fields of - Hydrogen - Energy Storage and - Energy Efficiency - New Nuclear (fusion & fission) With a an initial closing of around €100 million by 2025, out of a traget of €300 million, Exergon has now completed 6 investments including STELLARIA, which specialises in fourth-generation molten-salt modular reactors. Exergon complies with art. 9 SFDR. https://www.exergon.com Do not hesitate to reach out: Romain Andrieu-Guitrancourt, Amaury Daignes, Alice Avenel, Edouard Gaurier AUDACIA, Exergon, #impact, #decarbonization, #SFDR9, #Nuclear, #Green Hydrogen, #energy price, #Europe Giuseppe J. Sangiovanni, Vincent BRILLAULT, Pauline Colin, Edmund Harm, Eléonore de Rose, Olivier de Panafieu, Charles Beigbeder

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