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The report outlines measurable progress in emissions management, resource efficiency, employee engagement, and community impact across its global operations, reinforcing HPS’s commitment to sustainability and responsible growth.
GUELPH, ON (June 12, 2025) — Hammond Power Solutions (HPS), a leader in dry-type transformers and power quality solutions, has released its 2024 Environmental, Social, and Governance (ESG) Report. The report outlines measurable progress in emissions management, resource efficiency, employee engagement, and community impact across its global operations, reinforcing HPS’s commitment to sustainability and responsible growth.
“Our updated Vision and Mission are deeply aligned with our ESG priorities, simplifying electrification, shaping sustainable power solutions, and partnering with our customers and suppliers to drive meaningful environmental impact. Our 2024 ESG Report reflects the progress we are making to support a more resilient, inclusive, and low-carbon future,” said Adrian Thomas, CEO of Hammond Power Solutions
In 2024, HPS expanded operations with new and upgraded facilities, yet limited Scope 1 and 2 emissions growth by only 10 percent, meeting its internal target. The company also improved global carbon intensity by 3 percent.
Energy efficient upgrades and operational improvements led to emissions reductions at key sites including Guelph, Baraboo, Walkerton, and Aberfoyle. Notably, a redesigned shipping skid project at the Monterrey, Mexico plant saved 42 tons of wood, equivalent to 240 pine trees.
HPS’s commitment extends beyond the environment. Employees contributed nearly 3,000 volunteer hours in 2024, while corporate giving topped $322,000 CAD. The company earned Great Place to Work certification in Canada, the U.S., and India, and continues to strengthen diversity, equity, and inclusion initiatives globally.
The full 2024 ESG Report is available here detailing HPS’s ongoing efforts to build a sustainable future through innovation and responsibility.
ABOUT HAMMOND POWER SOLUTIONS INC.
Hammond Power Solutions Inc. (“HPS” or the “Company”) enables electrification through its broad range of dry-type transformers, power quality products and related magnetics. HPS’ standard and custom-designed products are essential and ubiquitous in electrical distribution networks through an extensive range of end-user applications. The Company has manufacturing plants in Canada, the United States (U.S.), Mexico and India and sells its products around the globe. HPS shares are listed on the Toronto Stock Exchange and trade under the symbol HPS.A.
Altus Group (AIF-T) marked two decades of constant growth, adaptation and technological advancements within its business when it recently celebrated 20 years as a publicly traded company.
Members of Altus Group’s executive team rang the opening bell on the Toronto Stock Exchange on May 6 to mark the date of its 20th anniversary on the exchange.
Jorge Blanco, the commercial real estate service and technology provider’s New Jersey-based chief strategy officer, was at the company’s Toronto headquarters recently and spoke with RENX about Altus’ past, present and future.
“If you look at the different chapters, the story — from the acquisition of the PricewaterhouseCoopers valuation compliance practice to the acquisition of ARGUS and the continued growth of what was the property tax business until we divested the company — has been preoccupied primarily with how we assist our clients improve their performance vis-a-vis their commercial real estate portfolio,” Blanco said.
“That’s been one constant.”
Altus has made more than 50 acquisitions since its inception, some large though the majority have been relatively small. That has helped the company enter new international markets and expand its suite of services with additional complementary capabilities.
The 2011 acquisition of ARGUS Software, Altus’ largest to that point, began the strategic pivot to serve the commercial real estate industry with technology to complement its valuation advisory services.
Other key acquisitions since then include:
Over the past four years, Altus has made significant investments in data standardization, integration and data science. This has enabled it to develop a sharper focus on leveraging its technology, analytics and expertise to elevate its global intelligence platform and assist clients with enhancing decision-making, mitigating risks and achieving higher returns.
“Altus is continuously evolving — modernizing our own capabilities, acquiring those that bolster our platform, and anticipating what’s next,” Blanco said. “We’re not just keeping pace with change, we’re helping define what’s next for commercial real estate through smarter technology, deeper data and a bold vision for what’s possible.”
Blanco left KPMG in New York City in March 2021 to join Altus as its executive vice-president and chief product officer. He was named chief strategy officer in February.
“My job is to ensure that I’m keeping the company about three or four steps ahead of the customer in what’s coming,” Blanco explained. “If I’m thinking about something that happened three days ago, I’m not doing my job. I need to be thinking three, five and 10 years out.”
Altus recently expanded its ARGUS Intelligence capabilities into benchmarking to provide access to insights to enhance acquisition, disposition and investment management strategies. It’s only available in the United States now but will soon follow into Canada.
“Analytics is a core component to that, as our clients want to do much more rapid simulation of the potential decisions that you could make,” Blanco said. “We all know these assets are not movable.
“They’re reshapable, but they’re not movable. So clients need to begin to consider all of the different factors that impact their value.”
While Altus isn’t currently contemplating taking its technology and expertise and adapting it for new industries, there are adjacent businesses related to commercial real estate where it could make future inroads.
“When you look at the full value chain, a lot of sectors that are not necessarily commercial real estate by nature — be it insurance, commercial lending, banking or debt investing — there are lots and lots of spaces that definitely are in our wheelhouse on areas that we should be supporting,” Blanco said.
“While we will remain very focused on the expertise we have around properties, assets, et cetera, there will be an expansion of these services that will become much more consumable for folks that are not necessarily directly in the commercial real estate space.”
Altus closed the $700-million sale of its property tax business to Dallas-based Ryan on Jan. 2, accelerating its transformation into a pure-play software, data and analytics platform.
Some of the sale proceeds have been reinvested in buying its own stock because leadership is bullish on Altus’ future prospects.
“The emphasis that we’ve put on free cash flow per share, combined with the capital on the balance sheet, gives us a lot of optionality to continue to grow, experiment and innovate,” Blanco said.
Altus has a market cap of approximately $2.5 billion.
“It has continued to perform, but it could always perform better,” Blanco said. “We definitely think that there are other companies out there that get better multiples than we do.”
Blanco acknowledged parts of the commercial real estate industry have struggled over the past couple of years and that economic uncertainty is impacting monetary policy and growth.
“If you look at the fundamentals of the company, we’ve been growing top line and we’ve been growing bottom line consistently for a number of years, essentially meeting all the expectations of the market.”
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Highlights
- Adriatic Metals enters a trading halt
- Speculation builds around corporate activity
- Share price shows notable momentum
Adriatic Metals (ASX:ADT), a prominent producer of critical minerals and gold, has placed its shares in a trading halt as it prepares for an announcement regarding a possible corporate transaction. The pause in trading is scheduled to remain in effect until 16 June or until further updates are disclosed by the company.
This development follows a wave of market speculation and investor interest sparked in May, when reports emerged suggesting Adriatic Metals was in discussions with Canadian mining group Dundee Precious Metals (TSX:DPM). The potential transaction has been described as being in the early stages but is believed to carry a value exceeding £700 million (approximately $935 million).
The prospective deal, though not yet confirmed, has already had a measurable impact on Adriatic Metals’ stock performance. Over the past month, the company’s shares have climbed approximately 26.9%, reflecting heightened market anticipation. As of the latest close, shares were trading at $5 on the Australian Securities Exchange and at £2.41 ($5.04) on the London Stock Exchange.
Adriatic Metals, which has built its reputation through strategic mining developments in Europe, is being closely watched by investors and analysts alike, given its strong portfolio of critical mineral assets and a growing global focus on resource security. The potential tie-up with Dundee Precious Metals could strengthen both companies’ positions in the global mining sector, particularly in the context of increasing demand for key metals used in clean energy and advanced technologies.
Market capitalization for Adriatic Metals currently stands at around $1.72 billion, underpinned by both speculation and solid fundamentals. The market’s interest is likely to stay elevated until a definitive announcement is made, potentially shaping the direction of the company’s operations and investor outlook for the coming quarters.
Until then, the spotlight remains firmly on Adriatic Metals as stakeholders await clarity on what could be a transformative corporate decision. Investors and industry observers are advised to stay tuned for official communications by or before 16 June.
Stocks wrapped up Thursday’s session on a high note, lifted by fresh signs of easing inflation, upbeat earnings from Oracle, and renewed optimism around US-China trade talks.
The Dow ended the day at 42,968, up 102 points or 0.2%, with industrials and financials leading the charge. The S&P 500 climbed 23 points to 6,045, also up 0.4%, as investors piled into technology and healthcare stocks. The Nasdaq added 47 points to finish at 19,662, with tech giants once again in the driver’s seat, though momentum cooled slightly into the close.
The Russell 2000, which tracks smaller companies, lagged behind—slipping 11 points, or 0.5%, to 2,137, as worries over borrowing costs and uneven growth weighed on sentiment.
Fueling the rally was a cooler-than-expected reading on wholesale inflation for May, echoing earlier consumer price data and reinforcing hopes that the Federal Reserve might begin cutting rates later this year. Lower inflation typically boosts investor confidence by reducing the pressure on the Fed to keep rates elevated.
Adding to the bullish tone, Oracle’s blowout earnings and optimistic cloud growth forecast gave tech stocks a boost, helping to propel both the S&P 500 and Nasdaq to fresh highs.
Meanwhile, the ongoing narrative of improving U.S.-China trade relations added another layer of support. Investors remain cautiously hopeful that negotiations are inching toward a framework that could ease global trade tensions.
All in all, a broadly positive session—with some rotation beneath the surface—as investors weigh cooling inflation and strong earnings against a still-uncertain macro backdrop.
Oracle Corp (NYSE:ORCL, ETR:ORC) shares surged more than 14% to a record high of $201.72 on Thursday, as analysts praised the software giant’s accelerating cloud growth and massive deal backlog, despite concerns over rising capital expenditures and margin pressure.
UBS analysts said the stock’s rally is justified by “bullish demand signals,” even if the company’s free cash flow outlook deteriorated.
The backlog surge caught attention across Wall Street. Jefferies analysts called it a signal of “Cloud upside in FY26,” adding that “massive RPO guide… bolsters confidence in continued OCI revenue growth.” Oracle’s infrastructure-as-a-service (IaaS) revenue is expected to grow more than 70% in FY26, up from 51% last year, while total cloud revenue is guided to rise more than 40%, according to Jefferies.
US stocks are edging higher at midday Thursday as investors sift through fresh economic signals and headline-making comments from both corporate and political heavyweights.
The Dow is up 0.1%, while the S&P 500 and Nasdaq are both up 0.3%, supported by upbeat sentiment around IPOs and corporate resilience.
Shares of fintech company Chime ($CHYM) made a splashy debut, opening at $43—an impressive 59% above its IPO price.
On the policy front, investors are watching China-US trade dynamics after Treasury Secretary Bessent suggested the current pause on China tariffs might end as soon as August.
Meanwhile, Donald Trump made headlines with comments on interest rates and his conversation with Elon Musk. Trump said Musk was “very honest” about the electric vehicle mandate but “got a little bit strange” after discussing its broader impact.
Trump also took aim at Fed policy, claiming he told Jerome Powell to hike rates if inflation resurfaces—but added, “I may have to force something” if rates stay too high.
Big news out of the biopharma sector: BioNTech (NASDAQ:BNTX) announced that it is acquiring CureVac (NASDAQ:CVAC), a fellow German mRNA vaccine developer, in an all-stock deal valued at approximately $1.25 billion.
The acquisition aims to combine the two companies’ complementary scientific capabilities, proprietary technologies, and manufacturing expertise of both companies to strengthen BioNTech’s research, development, manufacturing, and commercialization of mRNA-based cancer immunotherapy candidates.
Shares of CureVac popped almost 38% at about $5.60 on the news while BioNTech’s Nasdaq-listed shares traded up 0.2% at about $106.
US producer price data pushed the dollar lower and lifted gold prices on Thursday, offering a boost to market sentiment, according to Chris Beauchamp, Chief Market Analyst at IG.
Beauchamp noted that while Wednesday’s consumer price inflation report failed to lift markets, “the buyers are trying again in the wake of the PPI data, which has followed a similar pattern.”
Beauchamp added that fears of an immediate Israeli strike on Iran have eased somewhat, helping to calm nerves. With major economic data and earnings behind them, and no rate change expected from the Federal Reserve next week, he cautioned investors to remember the market adage: “never short a quiet market.”
Recent data showing cooler inflation and a softening labor market has made a potential Federal Reserve rate cut in 2025 more plausible, according to Bill Adams, Chief Economist at Comerica Bank.
Initial jobless claims remained elevated at 248,000 for the second week in a row, while continued claims rose to nearly 2 million—the highest since 2021.
“Reading between the lines of initial and continued claims, people who are losing jobs in 2025 are having a harder time finding new ones than in 2024 or 2023,” Adams noted, pointing to a slowdown in hiring as well.
Meanwhile, May’s Producer Price Index (PPI) data came in cooler than expected, suggesting that inflation pressures—especially from tariffs—may be less intense than business surveys had indicated. Core PPI, which excludes food and energy, rose just 0.1% on the month, while the annual rate eased to 3%.
“Tariffs were expected to add to the increase of core PPI goods…but that component registered an unremarkable moderate increase,” Adams said, contrasting PPI with hotter input cost readings from PMI surveys.
Despite these softer readings, Adams cautioned that fiscal stimulus from pending tax cuts and slower labor force growth due to stricter immigration enforcement could still keep the Fed on hold through year-end. While a rate cut isn’t Comerica’s base case, Adams said, “cooler-than-expected inflation and labor market data do make a federal funds rate cut later this year more plausible.”
US stocks indeed started lower, as predicted.
The Dow Jones dropped 0.4%, while the S&P 500 fell 0.1% and the Nasdaq 0.2%, with the worst effected being the domestically focused Russell 2000 small cap index, down 0.7%.
Boeing is a big drag on the Dow, down 4.4% now.
Oracle is the top riser in the S&P, up 11% after lifting its revenue guidance due to AI demand.
US stock futures were pointing lower as the dollar slumped to a three-year low, gold inched back towards record highs and Treasury bills attracted demand to send yields lower.
Wall Street equity futures were lower across the major indexes, led by a 1% fall for the Russell 2000, more focused on domestic small caps, while Dow Jones futures slid 0.7% and the broader S&P 500 and tech-heavy Nasdaq 100 both dropped 0.6% ahead of the opening bell.
The dollar index subsided heavily over the early hours, sinking to a three-year low of 97.8, with the dollar down 0.9% versus the euro to $1.1587, and down 0.55% against the Japanese yen and 0.3% versus the British pound.
Analysts said it followed President Trump statement that he will impose new unilateral tariff rates within the next two weeks, while this week’s deal with China left tariffs at 55%.
Trump told reporters in Washington last night that: “We’re going to be sending letters out in about a week and a half, two weeks, to countries, telling them what the deal is. At a certain point, we’re just going to send letters out, and I think you understand that, saying ‘this is the deal, you can take it or leave it’.”
More positively, US Treasury Secretary Bessent suggested that they could extend the deadline by 90 more days if they believe “good faith” efforts are being made.
Market analyst Fawad Razaqzada at City Index said: “Just when it looked like the trade uncertainty was coming to an end with the US resuming talks with China and implying several other deals were on the cards, Trump has done it again.”
Whether or not this turn out to be “another so-called TACO trade” – Trump Always Chickens Out – remains to be seen.
“But after a big rally off the April lows and without much progress on the trade front, investors are now asking questions and want to see results to justify holding expensive stocks amid all the trade uncertainty, and that’s before considering other risks that include valuations, bond market troubles, and a potential military conflict between Iran and Israel.”
Rising tension with Iraq caused WTI crude oil to rally to $67.5 a barrel overnight, while gold is higher today and oil has retreated to $66.9 a barrel.
Iran’s defence minister has warned of retaliatory strikes on US military assets in the region should hostilities break out, after Trump expressed growing scepticism over the prospect of a nuclear accord, threatening military action should diplomacy fail.
“Five rounds of talks have been held since April, but with little progress, markets are increasingly factoring in the possibility of a more serious conflict,” said Razakzada.
In individual stock news, Boeing was down 7.7% premarket after a 787 Dreamliner operated by Air India crashed on a flight to the UK.
CureVac jumped 30% after BioNTech agreed to acquire the biotech in an all-stock deal.
GameStop was down 16.5% premarket after its fundraising proposal the day before.
Voyager Technologies surged after hours on its first day of trading, with shares jumping 82% to give the defence and space technology firm a valuation of roughly $3.5 billion.
