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IEA: COVID-19 crisis causing the biggest fall in global energy investment in history

Green Car Congress

The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year—from fossil fuels to renewables and efficiency—the International Energy Agency said in a new report.

Global 344
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GM and Vacuumschmelze (VAC) to build a new magnet factory in US to support EV growth

Green Car Congress

GM and Vacuumschmelze (VAC) of Germany announced plans for VAC to build a plant in the US that will manufacture permanent magnets for the electric motors used in the GMC HUMMER EV, Cadillac LYRIQ, Chevrolet Silverado EV and more than a dozen other models using GM’s Ultium Platform. Earlier post.). Erik Eschen, CEO of VAC.

GM 186
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Chemours investing $200M to expand Nafion production in France

Green Car Congress

Chemours’ investment builds on the existing efforts in the US to have a reliable supply chain and robust capacity to enable the hydrogen economy. Our society has a tremendous opportunity to build a more sustainable future, and that must include transitioning to cleaner energy. Earlier post.).

France 218
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SGH2 building largest green hydrogen production facility in California; gasification of waste into H2

Green Car Congress

It also solves our plastics and waste problems by turning them into green hydrogen, and does it cleaner and at costs far lower than any other green hydrogen producer. Bloomberg New Energy Finance reports that clean hydrogen could cut up to 34% of global greenhouse gas emissions from fossil fuels and industry. Rex Parris.

Waste 448
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US, Canada, Japan, Netherlands, and EC launch new hydrogen initiative

Green Car Congress

At the 10th Clean Energy Ministerial (CEM10) meeting, a new international hydrogen partnership was announced under the leadership of the United States, Canada, Japan, the Netherlands and the European Commission with participation of several other CEM member countries.

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1 in 5 new car sales globally were EVs in 2023, and that’s curbed oil demand – IEA

Baua Electric

Photo: Tesla Without EVs, solar, wind, and nuclear, the global rise in emissions in the last five years would have been three times larger, new International Energy Agency (IEA) analysis shows. Clean energy’s impact over the last 5 years From 2019 to 2023, growth in clean energy was twice as large as that of fossil fuels.

Global 52
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Volkswagen Group and Canada aim to advance sustainable battery supply chain in North America

Green Car Congress

Both parties will investigate opportunities for Canada to contribute to Volkswagen’s global and regional battery supply chains. PowerCo SE is responsible for all global Group activities along the battery value chain, securing battery cell supply for Volkswagen’s e-mobility push.