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MagREEsource secures €5M in financing; opening first pilot magnet recycling facility in Grenoble

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MagREEsource, a 2020 spin-off of the CNRS-Institut Néel that is commercializing processes for recycling rare-earth magnets and then remanufacturing new magnets from the recycled powders, has secured €5 million in financing and has opened its first pilot facility in Grenoble, with a capacity of 50 tons by 2023.

Financing 243
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European electrolyzer manufacturers commit to boosting capacity tenfold by 2025

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It will improve Europe’s sustainable and secure energy supply and reduce EU’s reliance on Russian gas. Today, industry agreed to a tenfold increase in electrolyzer manufacturing capacities in Europe. Clean hydrogen is indispensable to reduce industrial carbon emissions and contribute to our energy independence from Russia.

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Amogy and Trafigura to research ammonia cracking technology as a facilitator to global hydrogen supply chains

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Trafigura deploys infrastructure, logistics and financing to connect global producers and consumers of oil and petroleum products, metals and minerals and power and renewables. Our work with Amogy will help us understand the economics of this supply chain, to deliver the most competitive low carbon hydrogen to our customers.

Hydrogen 186
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IHS Markit: global commercial vehicle production to drop 22% in 2020 in wake of COVID-19

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IHS Markit is forecasting that global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 will be down 22% (more than 650,000 units) to 2.6 decline in global real GDP in 2020. million units, in the wake of the COVID-19 pandemic. China slowly gaining momentum after shutdown.

2020 191
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BNEF forecasts global energy storage market to grow 15-fold by 2030 to 411 GW/1194 GWh

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An estimated 387GW/1,143GWh of new energy storage capacity will be added globally from 2022 to 2030, according to the forecast—more than Japan’s entire power generation capacity in 2020. Europe, however, is catching up with a significant ramp-up in capacity fueled by the current energy crisis.

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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. Global demand for refined products dropped substantially in 2020 as a result of the COVID-19 pandemic. The refinery’s return is likely to decrease petroleum product prices and increase supply, particularly in south and southeast Asian markets.

Global 448
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IONITY orders 324 350kW EV chargers from ABB for second phase of expansion

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The chargers are to be rolled out in 24 countries by the end of 2020 as part of the second phase of the IONITY network expansion. ABB was already commissioned in 2018 as technology partner to deliver 340 high-power chargers to IONITY and was the first to market in Europe with 350 kW chargers featuring liquid cooled cables.

Europe 243