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In Seoul, Hyundai Motor Company unveiled a strategic roadmap to accelerate its electrification ambition as it pursues sustainable progress for the company. The company also unveiled targets for sales and financial performance to be achieved by 2030. Under the new plan, the company aims to boost annual global BEV sales to 1.87
Direct lithium extraction (DLE) technology company Energy Exploration Technologies Inc. The company said that the funding makes it the highest-valued direct lithium extraction technology company on the market. In 2020 global supply was roughly 315k tons; this is expected to rise to 5.5M Earlier post.) tons by 2040.
Cummins and Canada-based Buhler Industries , a leading tractor manufacturer under the Versatile brand, signed a letter of intent for plans to integrate the Cummins 15-liter hydrogen engines in Versatile’s equipment to lead the decarbonization of the agriculture market. —Adam Reid, Versatile’s Vice-President of Sales and Marketing.
Hyundai Motor Company plans to ramp up the US commercial vehicle market entry with XCIENT Fuel Cell trucks. Our ultimate goal is to fight climate change and build a sustainable future. We are running out of time to limit global warming. million km as of 30 April 2022.
Unifrax, a global manufacturer of high-performance specialty materials, plans to build its first large-scale SiFAB (silicon fiber anode material) manufacturing line at its north central Indiana facility. The Indiana plant will be the first to begin building SiFAB long-term manufacturing capacity.
Vaekstfonden, the Danish Growth Fund, and the German engine manufacturer DEUTZ AG, are investing €15 million in methanol fuel cell company Blue World Technologies. The aim is to bring the company’s green fuel cell products and solutions to the globalmarket. million in the company.
Our ambition is to build an advanced innovation center combined with a giga factory, meaning that we will produce fuel cells with a capacity of 1200 megawatts, or 1.2 We combine a best-in-class fuel cell solution with a long history of being a trusted engineering partner to leading companies in the global maritime industry.
Allison brings more than 100 years of experience in building reliable and valued propulsion solutions, including two decades of electrified propulsion systems development and commercialization. Together, the companies will further define product portfolio scope, manufacturing locations and supporting resources to be provided by each party.
ABIC), a special purpose acquisition company (SPAC), have entered into a definitive business combination agreement under which ABIC will combine with LiveWire, Harley-Davidson’s electric motorcycle division ( earlier post ), to create a new publicly traded company. Harley-Davidson and AEA-Bridges Impact Corp.
Each company will invest in the joint venture. In accordance with the Technology Roadmap for Energy-Saving and New Energy Vehicles announced by China in 2016, the FCEV market, primarily for commercial vehicles, is growing at a pace not seen anywhere else in the world. Plans call for FCRD to be established in Beijing during 2020.
A new report from IDTechEX forecasts the solid-state battery market will grow to $8 billion by 2031. The car plug-in market will take the largest share (66%) in 2031, followed by smartphone applications. The car plug-in market will take the largest share (66%) in 2031, followed by smartphone applications. Source: IDTechEx.
As part of this effort, by the early 2030s every all-new Nissan vehicle offering in key markets—Japan, China, the US and Europe—will be electrified. The company will also strive for greater energy and material efficiencies to support longer-term carbon neutrality ambitions.
Ford has produced its 150,000 th Mustang Mach-E electric vehicle since starting production nearly two years ago, a significant milestone as the company scales EV production to a rate of 600,000 annually by late 2023 and more than 2 million annually by 2026.
Energy storage installations around the world are projected to reach a cumulative 411 GW (or 1,194 GWh) by the end of 2030, according to the latest forecast from research company BloombergNEF (BNEF). The “Inflation Reduction Act” will drive roughly 30GW/111GWh of energy storage build from 2022 to 2030, according to BNEF.
Deepsea mining company TMC The Metals Company ( earlier post ) announced a strategic partnership with Low Carbon Royalties Inc. This transaction also offers TMC shareholders exposure to a royalty company that I am confident under Brian’s leadership will become a market leader.
Australia-based Lynas Rare Earths Limited entered into an agreement with the US Government to build a commercial Light Rare Earths separation plant in the United States, through a wholly owned subsidiary, Lynas USA LLC. Lynas will also be expected to contribute approximately US$30 million under the agreement.
Lightning eMotors, a leading provider of commercial electric vehicles for fleets, announced a $45-million order for its zero-emission powertrain systems from Faribault, Minnesota-based motorcoach supplier ABC Companies. —Roman Cornell, president and chief commercial officer of ABC Companies. —Roman Cornell.
Ford Motor Company, LG Energy Solution and Koç Holding signed a non-binding memorandum of understanding (MoU) to form a new joint venture subject to final agreement by all the parties to create one of Europe’s largest commercial electric vehicle battery cell facilities near Ankara, Turkey. Earlier post.)
Japan is the next market to follow. The sooner and more exactly the energy suppliers and power grid operators know what customers’ infrastructure requirements will be, the faster and more efficiently they can build them up. Global electric truck portfolio at Daimler Trucks.
Ricardo has partnered with UK-based technology company Brightec to develop a smartphone app which will enable hybrid vehicles to sense that they have entered a clean air zone and encourage a switch to electric mode. The project addresses both the existing vehicle fleet and also extends to long-term improvements in air quality.
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. —Dr Fatih Birol, the IEA’s Executive Director.
ABC Companies, a leading provider to the motorcoach, transit and specialty passenger transportation market in the United States and Canada, will soon be the first to offer a motorcoach-diesel-to-electric-repower program for North American operators. —Roman Cornell, president and chief commercial officer of ABC Companies.
billion (assuming no redemptions) for the combined company, which will be renamed “TMC the metals company Inc.” and operate as The Metals Company upon closing. We looked at over 100 companies, many of them in the EV and renewable energy space. DeepGreen Metals Inc., Seafloor polymetallic nodule. Transaction overview.
Li-Cycle Holdings, the leading lithium-ion battery recycler in North America, and Vines Energy Solutions ( VinES ), a Vingroup company that specializes in the research, development and manufacturing of advanced batteries for mobility and energy storage applications, launched a global recycling partnership. Earlier post.)
of cars on the road globally are electrified, which begs the question: How do we fulfill the promise of EVs to deliver sustainable mobility? That’s why Polestar set itself three climate targets: to become climate neutral company by 2040; to halve emissions per sold car by 2030 compared to 2022; and create a climate neutral car by 2030.
The Nikkei reports that Japan-based motor maker Nidec is planning to invest an estimated ¥100 billion (US$715 million) to build an e-axle plant in Mexico. The company is currently producing e-axles in China and Europe but will start making them in North America as well ahead of an expected surge in demand. million e-axles.
Cummins will provide hydrogen fuel cell electric powertrains integrated into selected OEM partners’ heavy-duty trucks for Air Products, as Air Products begins the process of converting its global fleet of distribution vehicles to hydrogen fuel cell vehicles. Cummins and Air Products expect the demonstration phase to begin in 2022.
Energy company SGH2 is bringing the world’s biggest green hydrogen production facility to Lancaster, California. The technology has been vetted and validated, technically and financially, by leading global institutions including the US Export-Import Bank, Barclays and Deutsche Bank, and Shell New Energies’ gasification experts.
Linde will build , own and operate a 24MW PEM (Proton Exchange Membrane) electrolyzer plant at the Leuna Chemical Complex in Germany. The new 24-megawatt electrolyzer will produce green hydrogen to supply Linde’s industrial customers through the company’s existing pipeline network.
The global capacity for carbon capture in 2030 is set to increase sixfold from today’s level, to 279 million tons of CO 2 captured per year, according to research company BloombergNEF’s (BNEF) newly released 2022 CCUS Market Outlook. of global emissions. Companies are already becoming more ambitious in their projects.
million to build a hydrogen development and test facility at its Shoreham Technical Centre in the UK. Designed to support the company’s existing work in hydrogen, fuel cells and green alternative fuels, the new facility will deliver state-of-the-art test and development to advance capability in both alternative fuels and electric vehicles.
Austria-based OMV, an international, integrated oil, gas and chemicals company, announced its intention to become a net-zero (Scope 1, 2 and 3) company by no later than 2050. The business segment Chemicals & Materials will instead be the growth engine of the company. The company can build on a strong position.
A sluggish overall market, held down by pandemic-related restrictions, meant that overall sales fell by 15.5% The plant already builds the XC40 Recharge, the company’s first fully electric car, as well as a plug-in hybrid version of the XC40. In Europe, the share of Recharge cars of overall sales was 29%.
The FLITE (Fuel via Low Carbon Integrated Technology from Ethanol) consortium, led by SkyNRG and with LanzaTech as the technology provider, will build the first-of-its-kind LanzaJet Alcohol to Jet (AtJ) facility. The facility will convert waste-based ethanol to sustainable aviation fuel (SAF) at a scale of more than 30,000 tons/yr.
Enel X and MGL will provide an innovative electrification planning and analysis solution that will help inform the MBTA’s electrification strategy and has the potential to be applied in other markets. Enel is a multinational power company and a leading integrated player in the global power, gas and renewables markets.
Topsoe is currently a global leader in hydrogen technology, catalysts, and services that enable efficient production of hydrogen. Development of the automated manufacturing facility that will be the largest of its kind is ongoing. Construction will commence in 2022 in order for the facility to be operational by 2023.
Wolfspeed, a global leader in Silicon Carbide technology, will build a new multi-billion-dollar Materials manufacturing facility in Chatham County, North Carolina. Between 2024 and the end of the decade, the company will add additional capacity as needed, eventually occupying more than one million square feet on the 445-acre site.
To build on a partnership first announced in October 2022, VinES and Li-Cycle will also continue to explore global recycling solutions for VinFast (also part of Vingroup), the first global electric vehicle (EV) manufacturer in Vietnam and Southeast Asia.
Wipro Limited, a global information technology, consulting, and business process services company, announced the successful implementation of a blockchain-based small-scale liquefied natural gas (ssLNG) trading/fulfillment platform for Uniper Global Commodities SE and its 100% LNG-for-trucks subsidiary Liqvis GmbH.
Cepsa—the Spain-based multinational oil and gas company—will invest more than €3 billion to establish the Andalusian Green Hydrogen Valley, creating the largest green hydrogen hub in Europe in southern Spain. The company will build two plants with a total capacity of 2 GW to produce green hydrogen.
Volvo Cars will build a third manufacturing plant in Europe, positioning the company well to meet the continued demand from its customers for electric cars and capture future growth potential. million cars by mid-decade, which it aims to meet with a global manufacturing footprint spanning Europe, the US and Asia.
Hyundai Motor Company announced an updated roadmap for its future business Strategy 2025 at the 2020 CEO Investor Day’ forum held virtually in Seoul. trillion (US$55 billion) by 2025, securing an 8% operating margin in the automotive sector and achieving a 5% range of global automotive market share. Updated Strategy 2025.
Global technology and power solutions leader Cummins Inc. The HyLYZER PEM electrolyzer technology is the result of more than 20 years of development by Hydrogenics, a Canadian company that was acquired by Cummins in September of 2019, a company which Air Liquide retains a 19% stake.
Aker Solutions is already a leading supplier to oil and gas companiesglobally and will continue to maintain this market position. In parallel, the company will rapidly grow activities for sustainable energy production. The plant NBC plans to build at Herøya Industrial Park will have a “significant capacity”.
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