AIR Stock

2010 is barely upon us, yet some stocks in the TSX and TSXV Cleantech Index are out to a roaring start. In fact, the top company on this list has already tacked on almost 93% to its 2009 closing price. The editors of Cantech Letter give you the top five Cleantech gainers so far this year. The Cleantech Five: 1. Cleanfield Alternative Energy Inc. TSX-V: AIR Shares: 27,296,901 Price: $0.27 Market Cap: $7.37 million 2010 Gain: 92.9% Cleanfield develops and commercializes renewable energy technologies primarily for urban applications including small wind, solar and inverters. This company is very early stage with TTM Revenue well under $1 million. The company has little cash, the balance sheet needs improvement and so this must be classified as highly speculative. Regardless, it posted the number one percent gain in the CleanTech sector so far this year. 2. Bennett Environmental Inc. TSX: BEV Shares: 27,498,676 Price: $2.51 Market Cap: $69.02 million 2010 Gain: 79.3% Bennett Environmental has been a publicly traded company for many years and the shares hit a historical high in 2004 of $28 per share and a historical low in 2008 of $0.10. Since 2008, The Company has made a dramatic recovery and announced impressive Q3 profits of $8.9 million this past November. Bennett is a recognized North American leader in high temperature treatment services for the remediation of contaminated soils and other PCB contaminated debris. 3. Biorem Inc. TSX-V: BRM Shares: 11,978,299 Price: $0.80 Market Cap: $9.58 million 2010 Gain: 50.9% Biorem, recently added as a Cantech Letter Profile Company, is a CleanTech company that designs, manufactures and distributes advanced biofiltration systems. These systems effectively control air emissions in a variety of industrial applications including greenhouse gas emissions. Biorem sells primarily in the U.S. and Canada. Revenue has been growing steadily, TTM revenue is $18.9 million, and the company has been operating in the black for the last two quarters. Biorem weathered the 2009 financial meltdown relatively unscathed. 4. Innergex Renewable Energy Inc. TSX: INE Shares: 23,700,000 Price: $7.90 Market Cap: $187.23 million 2010 Gain: 43.6% Innergex owns and operates electricity production facilities located in North America, leveraging run-of-river hydroelectric power generation and wind farms. On February 1st, 2010 the company announced a definitive agreement to undertake a strategic combination with its affiliate Innergex Power Income Fund effecting at the same time the conversion of the fund into a corporation. This combination will create one of the largest independent renewable power producers in Canada with estimated annual revenues of $75 million and profits estimated at $30 million. The market has responded well to the news lifting Innergex's share price. 5. Seair Inc. TSX-V: SDS Shares: 28,855,617 Price: $1.61 Market Cap: $46.45 million 2010 Gain: 34.1% Seair is a provider of proprietary diffusion technologies in North America and internationally. The technology allows for the diffusion of gases into liquids. The technologies cover a wide variety of applications in numerous industries including: waste/water treatment, aquaculture, pulp & paper, and oil & gas. On December 29th, 2009 Seair reported a large annual loss of $4.51 million on $3.75 million in revenue (declining 15.5% YOY). In January, 2010 the company first announced a new sales representative in Alberta targeting ground water treatment to the oil sands industry; and then, announced a 58% increase in Q1 revenue of $1.14 million and a $265,000 loss.

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