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Volkswagen launches PowerCo for global battery business; €20B investment; standard factories

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With immediate effect, responsibility for global battery business is to be held by the newly created company “PowerCo”. The Volkswagen Group is bundling its global battery activities in the European company (SE) PowerCo. Looking ahead, further products such as major storage systems for the energy grid are planned.

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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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International Copper Association pledges to achieve net zero carbon emissions by 2050

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In a new roadmap launched by the International Copper Association (ICA), members have aligned on an ambition to reach net zero in Scope 1 and Scope 2 emissions by 2050, and work toward the same goal for Scope 3 emissions. The Copper—The Pathway to Net Zero roadmap builds on previous best practice guidelines by ICA.

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ARPA-E awarding $9.4M to 4 projects focused on removing sulfur hexafluoride from US grid

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million to develop technology focused on removing sulfur hexafluoride (SF 6 )from the US power grid. However, SF 6 is also an extremely potent greenhouse gas with 23,500 times the comparative Global Warming Potential of CO 2 and a lifetime of 3,200 years in the atmosphere. GE Grid Solutions, LLC in Charleroi, Pa.;

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

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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.

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Polestar, Rivian report concludes automotive industry tracking to overshoot IPCC emissions target by 75%

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The report, which uses existing, open-source data to model the current trajectory for emissions stemming from the car industry, was carried out by global management consulting firm Kearney. … —Pathway Report Passenger vehicles currently account for 15% of all greenhouse gas (GHG) emissions globally.

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GM expanding into new commercial applications for its HYDROTEC fuel cell systems

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These fuel cell generators could ultimately replace gas- and diesel-burning generators with fewer emissions at worksites, buildings, movie sets, data centers, outdoor concerts and festivals. They could also back up or temporarily replace grid-sourced electricity for residential and small commercial enterprises at times of power disruption.

GM 448