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Volvo Cars successfully places first green bond, raises €500M

Green Car Congress

Volvo Cars successfully placed its first green bond, raising €500 million from a diverse group of institutional investors and further increasing the company’s financial flexibility. A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects.

Volvo 514
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SK E&S, SK Plug Hyverse partner with Korea South-East Power for green hydrogen & green ammonia production

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SK E&S and SK Plug Hyverse—a joint venture (JV) formed in January of this year by SK E&S and Plug Power—will work with Korea Southeast Power Generation (KOEN) to cooperate with green hydrogen and green ammonia projects based on renewable energy resources in Korea and abroad.

Green 284
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Using blockchain traceability to build a circular battery economy

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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.

Economy 330
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BMW Group plans to source steel produced with green power and hydrogen from H2GS in Sweden

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From 2025 on, the company plans to source steel produced with up to 95% less CO 2 emissions and without requiring fossil resources such as coal. The BMW Group has now reached an agreement to this effect with the Swedish startup H2 Green Steel (H2GS), which uses hydrogen and only green power from renewable energies for steel production.

Sweden 341
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Cummins & Sinopec launch JV to produce and promote green hydrogen technologies in China

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The joint venture will accelerate the affordability and availability of green hydrogen through increased technological innovation, research and development, and manufacturing capacity. This joint venture brings together Cummins’ and Sinopec’s innovative spirits and pursuit of a more sustainable tomorrow, enabling a carbon-free economy.

Hydrogen 321
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RENK supplies special gear units for compressors for production of green steel

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Germany-based RENK Group, a manufacturer of mission-critical drive technologies, is supplying three high-speed special gear units via RENK-Maag GmbH , a group company, for compressors for the production of green steel to Siemens Energy Compressors GmbH as part of the “SALCOS” (Salzgitter Low CO2 Steelmaking) project of the Salzgitter AG steel group.

Supplies 195
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Nacero to invest $6B in low- and zero-carbon fuels plant in PA; Nacero Blue and Nacero Green

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Texas-based fuel company Nacero ( earlier post ) will build its second low- and zero-carbon fuels plant in Newport Township, Pennsylvania. Nacero Green Gasoline is made from renewable natural gas and captured flare gas. Nacero Green can reduce the lifecycle carbon footprint of a vehicle’s fuel down to zero or below.

Carbon 321