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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.

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Biden Administration launching offshore wind offensive

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The Biden Administration announced a series of measures to support rapid offshore wind deployment, including designation of a new wind energy area and targeting the deployment of 30 GW of offshore wind by 2030. New Wind Energy Area. Deploying 30 GW of Offshore Wind by 2030.

Wind 199
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RWE and ArcelorMittal intend to build and operate offshore wind farms and hydrogen facilities for low-emissions steelmaking

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Energy company RWE and steel producer ArcelorMittal have signed a memorandum of understanding to work together to develop, build and operate offshore wind farms and hydrogen facilities that will supply the renewable energy and green hydrogen required to produce low-emissions steel in Germany.

Wind 195
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Liquid Wind raises €4M in equity to produce eFuel

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Liquid Wind has closed its Series A funding round, securing €4M in equity investment. The investment will be used for the development of Liquid Wind’s first eMethanol production facility, and support plans for further facilities. To meet growing demand for cleaner fuel, Liquid Wind are designing the business to scale rapidly.

Wind 186
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Benchmark: global battery industry needs to invest $514B to meet demand in 2030; $920B by 2035

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Globally, the battery industry needs to invest at least $514 billion across the whole supply chain to meet expected demand in 2030, and $920 billion by 2035, according to a new analysis by Benchmark. This includes spending on renewables such as wind and solar as well as grid and other infrastructure. trillion in 2022, IRENA said.

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Porsche strengthens commitment to industrial production of eFuels with $75M investment in HIF Global

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Initiated by Porsche and implemented with partners including Siemens Energy and ExxonMobil, production of eFuels from hydrogen and CO 2 using wind energy is expected to start there in mid-2022. By investing in industrial eFuel production, Porsche is further expanding its commitment to sustainable mobility.

Porsche 243
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EU Innovation Fund grants €108M to RWE’s waste-to-hydrogen project FUREC

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The feedstock pellets from the pre-treatment plant will then be converted into hydrogen in a second RWE plant which the company is to build at the Chemelot industrial park in Limburg. For comparison: This is equivalent to the output of a 700-megawatt offshore wind farm with coupled electrolyzers.

Waste 448