Energy Recovery is the best way to play desalination if the regime throws a hail mary at desalination plants, which have already been discussed as possible targets. The theme has about a thousandth as many stocks as energy, where low-float proxy BATL rose 27x. Energy Recovery is one of only a handful of pure plays, an optional small cap, with a fortress valuation and project backlog. x.com 

Energy Recovery is mispriced given the risk that the Iran ceasefire won't last, since any escalation would affect Middle Eastern desalination plants. Its pressure exchangers are critical to reverse-osmosis efficiency, making it probably the purest-play desalination equipment stock, and as a small cap it would move most on a demand spike. Plants needn't be hit for it to reprice, as humanitarian efforts would need clean water if energy infrastructure fails. It trades at its lows. x.com 

Water infrastructure is a completely underfollowed and underrated theme as the world enters an era of global water bankruptcy. The best plays are Ecolab, Tetra Tech, Xylem and Northwest Pipe. x.com 

Hallador Energy owns Merom Generating Station, the only major vertically integrated power asset in Sullivan County, beside the 2.1GW Fluidstack/Google campus, and data center power demand outweighs coal's environmental concerns. Pairing coal with solar and batteries makes it palatable, and a reply notes Google's investment-grade credit and completed financing. Risks are water, as a dewatering lawsuit could freeze the project for 24 months, and dilution after a $50 million equity offering. x.com  … Show more