Bruce Campbell (2)Anaergia Inc. Subordinate Voting SharesANRG.TOPAST TOP PICKMar 09, 2026

Excited about its prospects. New management has really turned things around. Gaining massive traction in contracts and backlog. Tailwind for many years from green energy.

Helps companies become carbon-neutral. Went public a few years ago, almost went bankrupt, was recapitalized, refocused, now really gaining traction. New orders and new contracts with global companies like PEP. Revenue has steadily ramped up. Just went EBITDA-positive last quarter, that's significant. Expects Q4 results to show improvement. 

There is competition, but this company has a real expertise. No dividend.

Recapitalized, and turned itself into a sales machine. Continues to get more, and bigger, contracts. Turns organic waste into renewable natural gas for heat or power. Backlog has grown to just under $300M. Revenue continues to go up. Just had first EBITDA-positive quarter. 

Not the most liquid stock, so when a major shareholder got out it pushed the price down. Now a real opportunity to buy. Massive insider ownership, and chairman continues to buy. Multiple years of runway, now just hitting radar of investors. No dividend.

It took on a lot of debt after the IPO in 2021 and almost failed but are now re-capitalized and can turn around. The new chairman continues to buy stock. It is in the renewable natural gas sector where organic waste is turned into energy. Has $260 million in backlog and revenue is ramping up. EBITA is negative but about to transition with the higher revenues and new institutional interest. They have signed up some big clients.
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The restructuring brought in $40.8M, but now one investment entity owns 60% of the company. It gives the company money to survive, but it may be a while before it prospers. Of course, issuing 102 million new shares (at least, with 20 million more if warrants are exercised) caused massive dilution. Even with the new shares, the company's market cap is still very small. Down 77% in a year, the (now) tight control of the shares may keep larger investors at bay. We think the best strategy is to move on from this. Cash flow remains highly negative. 
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Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. The company reported good sales growth, suggesting good adoption. Results missed estimates by $2M. There is opportunity here but expectations are high. Growing at nearly 50% and no reason for slowing growth. The stock has held well despite the miss. Unlock Premium - Try 5i Free