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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. Energy storage might form a relatively small piece of the overall financing required, but it is a strategically critical piece of the puzzle.

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Chinese steel group Tsingshan investing $375M to build lithium plant in Argentina with Eramet

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China’s Tsingshan , the world’s largest producer of stainless steel, will invest $375 million to build a lithium plant in Argentina with French multinational mining and metallurgy company Eramet. interest, and will retain operational management responsibility; its partner Tsingshan is financing the plant construction in exchange for 49.9%

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DOE awards $165M GEODE grant to consortium to accelerate development of geothermal by leveraging oil and gas industry

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The grant will provide $10 million in the first year, which will fund the consortium members, in collaboration with more than 100 partner entities, to develop a roadmap to accelerate the growth and development of geothermal, leveraging expertise, technologies, and methods from the oil and gas industry. —John Boden of SPE

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The Metals Company and Low Carbon Royalties form strategic partnership

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to finance the development and production of low-carbon fuels and energy transition metals. We are not naïve to the potential risks of pioneering new industries such as deepsea minerals and we are closely following NORI’s ongoing assessment of environmental and social impacts of their offshore operations.

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Calysta completes $3M Series A financing; biological conversion of methane to fuels and chemicals

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Calysta Energy completed a Series A financing round totaling $3 million. Calysta intends to use the Series A investment to advance development of biological routes to high value industrial chemicals and fuels based on methane, an advantaged feedstock from natural gas. The financing was led by Pangaea Ventures Ltd.,

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“Project Volt Gas Volt” proposes long-term financing plan to support widespread implementation of power-to-gas systems

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Project Volt Gas Volt is based on a long-term financing plan and the use of existing technologies for the large-scale conversion of surplus renewable electricity to methane, with subsequent reuse. Audi, along with ETOGAS, is building the first commercial-scale demonstration plant (6.3 Financing Project VGV: the Green Redemption Fund.

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MHI invests in Electric Hydrogen to accelerate efforts to produce clean hydrogen at scale

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Mitsubishi Heavy Industries, Ltd. MHI) has invested in Electric Hydrogen (EH2), a clean hydrogen startup headquartered in Natick, Massachusetts, to support its efforts in developing cost-competitive, fossil-free hydrogen. The investment was part of a $198-million financing.

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