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Nippon Steel to invest in Canadian coal company; steelmaking coal offtake agreement

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EVR), which will be spun-off from Teck as an independent publicly-listed Canadian company and will own and operate the steelmaking coal business previously conducted by Teck. The remainder of Teck’s business will be spun-off as the independent company Teck Metals, which will focus on base metals production.

Coal 273
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EIA expects significant increases in US wholesale electricity prices this summer

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The US Energy Information Administration (EIA) forecasts that prices in US wholesale electricity markets this summer will significantly increase over last summer’s prices. EIA forecasts summer electricity prices will average $98/MWh in California’s CAISO market and $90/MWh in the ERCOT market in Texas.

Price 476
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Mercedes-Benz AG and H2 Green Steel secure supply deal and an MoU to establish N American supply chain

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Mercedes-Benz has signed a supply agreement with Swedish start-up H2 Green Steel (H2GS) ( earlier post ) over approximately 50,000 tonnes almost CO₂-free steel per year for its European press shops and deepened its partnership through a Memorandum of Understanding (MoU) with the aim to establish a sustainable steel supply chain in North America.

Supplies 170
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IEA: global CO2 emissions rebounded to their highest level in history in 2021; largely driven by China

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billion tonnes, their highest ever level, as the world economy rebounded strongly from the COVID-19 crisis and relied heavily on coal to power that growth, according to new IEA analysis. Coal accounted for over 40% of the overall growth in global CO 2 emissions in 2021, reaching an all-time high of 15.3 billion tonnes. billion tonnes.

Emissions 370
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Bosch to receive €160.7M in funding to support scale-up of solid-oxide fuel cell system production

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The heart of the system is the SOFC stack, where chemical energy is converted into electrical energy. This hotbox is combined with an air and gas supply system, an electronic control unit, and an exhaust system to form an SOFC unit. The Bosch project is one of the first projects in Germany to receive this funding.

Fuel 360
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IEA: governments must act to ensure sufficient supply of critical minerals to meet net-zero goals

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A typical electric car requires six times the mineral inputs of a conventional car, and an onshore wind plant requires nine times more mineral resources than a similarly sized gas-fired power plant. The expansion of electricity networks also requires a huge amount of copper and aluminum. Source: IEA. Source: IEA. Source: IEA.

Supplies 248
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IEA: global oil demand to decline in 2020 as coronavirus weighs on markets

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Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The impact of the coronavirus on oil markets may be temporary.

Oil 300