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At the moment, the Caucasus nations dont produce enough renewable electricity to export it, so they would have to build at least three times more capacity. In 2016, for example, the country set a goal of sourcing 20 percent of its energy from renewables by 2020. A 2022 road map from the World Bank, the International Finance Corp.,
Meanwhile, production planning has been carried out as companies make cutbacks. While some companies look to cut operating costs, others are continuing to invest in development projects. Renaults CEO Fabrice Cambolive told Autocar the company will focus on full hybrids (HEVs). billion globally.
Polestar is also renewing a European Green Trade Finance Facility (TFF) for 480 million euros, or approximately $499 million at current exchange rates. In a press release, Polestar said it had secured a 12-month loan facility of up to $450 million, following an $800 million 12-month facility locked in by the automaker in December.
Tesla also announced a 0% APR financing program for new Model 3 orders in the United States. The Model 3 Performance even received an extra incentive, with the company offering premium paint colors such as Deep Blue Metallic and Pearl White for free with every vehicle purchase. 0% APR financing for new Model 3 orders.
Much of US road infrastructure is financed by taxing gasoline. Energy Institute alum, Chris Knittel , along with Gib Metcalf and Shereein Saraf , have a new working paper , which takes a swing at one of the less thrilling, but wildly important, topics in public finance: how we pay for roads when no one’s buying gas anymore.
Cool Planet Energy Systems, a renewable fuels and biochar company ( earlier post ), closed on its targeted $100 million Series D financing. By creating renewable fuel and sequestering the biochar in the ground as soil enhancer, the process permanently removes atmospheric CO 2 for hundreds of years. Click to enlarge.
Global renewable energy investment increased between 2013 and 2018, reaching its peak at US$351 billion in 2017, according to a new report by the International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI). Renewable energy investment slightly declined in 2018, with modest growth through 2019.
ClearFlame Engine Technologies , a startup developing net-zero engine technology ( earlier post ), has secured $17 million in Series A financing, which will enable commercialization of the company’s innovative engine technology for the long-haul trucking, agriculture and power generation sectors.
FuelCell Energy intends to use the net proceeds from the offering for project development, project finance, working capital support and general corporate purposes. The company’s project finance subsidiaries may draw on the facility to finance the construction of projects through the commercial operating date (COD) of the power plants.
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. Project VGV uses surplus electricity generated by renewable and nuclear sources to produce hydrogen via electrolysis.
Global investment in renewable energy totaled $226 billion in the first half of 2022, setting a new record for the first six months of a year, according to Renewable Energy Investment Tracker 2H 2022, a new report published by research firm BloombergNEF (BNEF). Wind project financing was up 16% from 1H 2021, at $84 billion.
a leading renewable technology, chemical products, and next generation biofuels company, has closed a private debt financing with Whitebox Advisors LLC consisting of a senior secured term loan exchangeable into senior secured convertible debentures. million in convertible debentures within 90 days of closing of the Financing.
Tesla in Berlin, Northvolt in northern Germany and Italvolt near Turin are among the projects that stand to lose the greatest volumes of their slated capacity as the companies weigh up investing in the US instead. Battery investment in the US and China continued to grow, and European companies have already signalled expansion in America.
Start-up Liquid Light, a developer of process technology to make major chemicals from low-cost, globally-abundant carbon dioxide ( earlier post ), has closed a $15-million Series B financing. New investors include Sustainable Conversion Ventures, which focuses on renewable fuels and chemicals investments.
In addition to new investors BlackRock and Sinobioway, existing investors also participated in this financing. In November 2017, Enerkem received approval from the US Environmental Protection Agency (EPA) to sell cellulosic ethanol produced at its Edmonton facility under the US Renewable Fuels Standard (RFS). Earlier post.).
Düsseldorf, Germany-base E.ON, one of the world’s largest investor-owned power and gas companies, is adopting a new strategic direction under which is will split itself in two. itself will focus on renewables, distribution networks, and customer solutions. will take necessary preparatory steps for the New Company’s public listing.
OXCCU, a company spun-out from the University of Oxford in 2021 that is focused on converting carbon dioxide and hydrogen into industrial and consumer products ( earlier post ), completed an £18-million (US$22.8 million) Series A financing round.
And what I myself need from our next Representative in the House is the person who will most effectively help me drive the South Bay to 100% renewable energy as we transition off of fossil fuels in the next decade. And under less dire climate circumstances I could endorse and vote for Marianne Williamson, but that is not the world we live in.
This figure includes investment in projects—such as renewables, storage, charging infrastructure, hydrogen production, nuclear, recycling and CCS—as well as end-user purchases of low-carbon energy devices, such as small-scale solar systems, heat pumps and zero-emission vehicles. from the year prior.
billion in the third quarter of 2018, down 6% from the same period last year, according to the latest Clean Energy Investment Trends report from research company Bloomberg NEF (BNEF). We’re seeing more companies raising funds as they look to make the jump from concept cars to high-volume manufacturing. —Colin McKerracher.
Nissan Motor is launching a sustainable finance framework to help fund its next-generation electrified vehicles, batteries, environmental technologies, and new mobility services. The Nissan Sustainable Finance Framework will enable Nissan to raise funds needed to further enhance its sustainability efforts. Management of the Proceeds.
Global investment in renewable power and fuels (excluding large hydro-electric projects) was $270.2 Global investment in renewable power and fuels (excluding large hydro-electric projects) was $270.2 A key feature of the 2014 result was the rapid expansion of renewables into new markets in developing countries. billion.
has completed a $5-million capital raise to begin construction of its demonstration-scale plant for the production of synthetic, renewable diesel fuel from woody biomass using licensed technology. It produces a renewable diesel that has the potential to meet ASTM standards (ASTM D975 & D396). PwC Corporate Finance Inc.
Renewable chemicals and fuels company Amyris, Inc. In addition, Amyris announced its purpose-built industrial fermentation facility in Brazil has successfully begun production of Biofene, Amyris’s brand of renewable farnesene. has completed a $42.25 million private placement of its common stock.
LevelTen Energy , a renewable energy procurement platform, closed a $20.5-million This latest round of funding brings the company’s total investment to $27.3 As part of the financing, Tim Woodward, managing director at Prelude Ventures, will join LevelTen Energy’s board of directors. Salesforce and Workday.
IFC, a member of the World Bank Group, and the largest global development institution focused exclusively on the private sector, together with the Westly Group, a venture capital firm based in Menlo Park, California, led the financing.
Hydrogen development, given its application across various industries, is indispensable to attaining energy transition, meeting decarbonization goals, and positioning leading companies as market experts. On the other hand, venture finance deal values also grew from $595.23 Last year, mergers and acquisitions (M&A) deals reached $24.4
SolarCity and Honda have renewed their partnership with a new fund expected to finance $50 million in solar projects. The $50-million fund is a follow-up to a $65-million fund the companies created in 2013. Earlier post.) MW of solar generation capacity. MW of solar generation capacity. Earlier post.)
Global Bioenergies, an industrial biology company developing light olefin bioproduction processes ( earlier post ), closed its capital increase launched 27 June 2013, raising a final gross value of €23 million (US$30 million). The capital increase originally resulted in a total order for 1.15 The initiation of new programs.
At the current pace of research and development, replacing gasoline and diesel with renewable fuel alternatives could take some 131 years, according to a new University of California, Davis, study using a new sustainability forecasting approach based on market expectations. The forecast was published online 8 Nov.
Seven companies from the GET H2 initiative in Europe want to build a cross-border pipeline for green hydrogen. The companies want to push ahead with the development of a hydrogen economy. The companies are convinced that the draft passed by the Federal Cabinet at the beginning of February does not go far enough.
The plant will be the first of what the company expects to be several bio jet fuel plants throughout the country. the parent company of Fulcrum Sierra BioFuels, LLC, and has negotiated a long-term supply agreement with Fulcrum for 375 million gallons of sustainable aviation fuel over 10 years. In 2013, Fulcrum was awarded a $4.7-million
TAE Technologies , the world’s largest private fusion energy company, has spun-out a new subsidiary, TAE Power Solutions. TAE Power Solutions intends to deliver a novel technology to improve fundamentally the reliability, efficiency, longevity, and affordability of electric-powered products, from vehicles to renewable energy storage.
With this level of cell energy efficiency—well above International Renewable Energy Agency’s (IRENA) 2050 target and significantly better than existing electrolyzer technologies—hydrogen production cost could be well below US$1.50/kg. 2 and 85 °C of only 1.51 V, equating to 98% energy efficiency, with an energy consumption of 40.4
Through the intermediary, products are sold to German and European companies through short-term auctions at the highest possible price, which can thus drive their decarbonization. The contracts are processed via the intermediary HINT.CO. is a subsidiary of the H2Global Foundation founded by the private sector.
Ford Motor Company and its financing subsidiary, Ford Motor Credit Company, introduced the North America auto industry’s first sustainable financing framework, focusing on and paying for ambitious plans in vehicle electrification and other environmental and social areas. Vigeo Eiris, an arm of Moody’s Corp.,
Eos Energy Storage, a developer of zinc-air grid-scale battery technology, completed its $15-million Series B financing round with participation from a syndicate of 21 strategic and financial investors. The company is in advanced discussions with several states regarding the location of its pilot manufacturing facilities.
The US Department of Energy (DOE) has released a new Request for Information (RFI) on the scale-up and demonstration of renewable fuels. BETO recognizes the availability of financing for first-of-a-kind process systems can be a barrier to commercializing advanced biofuels.
In its Form 10-K (annual report) filed with the SEC on 17 March, cellulosic renewable fuels company KiOR said it has “ substantial doubts about [its] ability to continue as a going concern ”. Other than that commitment, however, Kior said it has no other near-term sources of financing. Earlier post.).
has reached agreement with trucking firms to lease or purchase more than 250 new heavy-duty trucks, fueled by its Redeem RNG (renewable natural gas). In addition, truck fleets financed or purchased through Zero Now will be able to purchase Redeem fuel with a fixed discount to diesel at a significant spread. Clean Energy Fuels Corp.
Vulcan Energy Resources has agreed to acquire an operational geothermal renewable energy power plant in the Upper Rhine Valley at Insheim, Germany, through the acquisition of 100% of the shares in the entity which owns and operates the plant. Purchased for approximately €31.5 The geothermal power plant in Insheim, Upper Rhine Valley, Germany.
Agrisoma Biosciences, an agricultural company that has commercialized carinata, a non-food oilseed crop designed for sustainable production of biofuels, has closed a $15.4-million million Series B financing round, co-led by new investor Groupe Lune Rouge and current investors Cycle Capital Management, and BDC Venture Capital.
The pilot demo marked the first ever genset demonstration for our company. All eyes now focus on the second pilot, where our engine will power a real customer with a renewable low carbon fuel. All eyes now focus on the second pilot, where our engine will power a real customer with a renewable low carbon fuel. Earlier post.)
has awarded an engineering services contract to Worley for the Aemetis “Carbon Zero” renewable jet and diesel plant in Riverbank, California. The Aemetis Carbon Zero renewable jet and diesel project is designed to hydrotreat renewable oils with hydrogen from orchard and forest wood waste. Aemetis, Inc.
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