U.S. Capital Goods Potentially Undervalued Small Caps

FGI Industries

Market Cap: US$7.0m

FGI Industries ltd. supplies bath and kitchen products retail, wholesale, commercial and specialty channel customers in the United States, Canada, Europe, and internationally.

Orion Energy Systems

Market Cap: US$37.9m

Researches, designs, develops, manufactures, markets, sells, installs, and implements energy management systems for commercial office and retail, area lighting, industrial applications, and government in North America and Germany.

Greenland Technologies Holding

Market Cap: US$17.3m

Designs, develops, manufactures, and sells components and products for material handling industries worldwide.

Euro Tech Holdings

Market Cap: US$9.3m

Engages in the marketing and trading of water and wastewater related process control, analytical and testing instruments, disinfection equipment, and supplies and related automation systems in Hong Kong and in the People's Republic of China.

SUNation Energy

Market Cap: US$5.6m

Engages in the design, installation, and maintenance of photovoltaic solar energy systems and battery storage systems in the United States.

flooidCX

Market Cap: US$87.5k

Operates as the licensee for harvested and thermal electrical energy collection and transmission (EET), photon lighting systems, photonic and photovoltaic energy harvesting, and thermal waste to energy conversion.

iPower

Market Cap: US$1.5m

Operates as an online retailer and supplier of consumer home, pet, garden, outdoor, and consumer electronics products for commercial and home cultivators growing specialty crops, and home goods customers in the United States.

JE Cleantech Holdings

Market Cap: US$6.2m

An investment holding company, designs, develops, manufactures, and sells cleaning systems for various industrial end-use applications in Singapore, Malaysia, and internationally.

Dewey Electronics

Market Cap: US$2.5m

Designs, develops, and manufactures military electronics.

Pioneer Power Solutions

Market Cap: US$26.3m

Pioneer Power Solutions, Inc., together with its subsidiaries, design, manufacture, integrate, refurbish, distribute, sell, and service electric power systems, distributed energy resources, power generation equipment, and mobile EV charging solutions.

Skycorp Solar Group

Market Cap: US$8.4m

Through its subsidiaries, designs, develops, manufactures, and sells solar PV products and solar power system solution services in Mainland China, rest of Asia, and internationally.