article thumbnail

3 Oil Majors That Bet Big On Renewables

Green Car Congress

Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com.

Oil 418
article thumbnail

Mercom: battery, smart grid, energy efficiency companies raised $2.3B in VC funding in 2019; 18% lower than 2018

Green Car Congress

Mercom Capital Group, llc, a global clean energy research and communications firm, released its report on funding and mergers and acquisitions (M&A) activity for the Battery Storage, Smart Grid, and Energy Efficiency sectors for 2019. In 2019, VC funding into Battery Storage companies increased by 103% to $1.7 Smart Grid.

2019 195
article thumbnail

Jordan signs $2B oil shale investment agreement with Saudi company

Green Car Congress

The government of Jordan and the Saudi Arabian Corporation for Oil Shale (SACOS) recently signed a $2-billion agreement under which the government grants the Saudi company the right to extract and to develop the oil shale resources in the Attarat Um-AL-Ghudran region covering an area of 11 square kilometers.

Jordan 257
article thumbnail

Mercom: battery storage, smart grid, and efficiency companies raise $210M in VC funding in Q1 2019, down 55.5% YoY

Green Car Congress

A combined $210 million was raised by battery storage, smart grid, and energy efficiency companies in Q1 2019—a 55.5% Thirteen investors participated in battery storage funding this quarter with energy storage downstream companies raising the most. Smart Grid. There were four undisclosed M&A transactions in Q1 2018.

2019 170
article thumbnail

Mercom Capital: VC funding for battery storage companies up 139% YoY in 1H 2019 to $1.4B; led by Northvolt financing

Green Car Congress

VC funding in Battery Storage companies in 1H 2019 was up by 139% with $1.4 Total corporate funding (including venture capital funding, public market, and debt financing) for battery storage, smart grid, and efficiency companies in 1H 2019 was flat with $2.3 Smart Grid. million; Zenobe Energy secured $32.3 Efficiency.

2019 207
article thumbnail

Convert Oil Wells to Solve the Solar Storage Problem

Cars That Think

A possible answer, though, might lie in oil wells. The California-based Hyperlight Energy will be piloting an installation where they plan to use existing oil wells as solar thermal wellsprings, with the stored energy being converted back to clean electricity when required. But we can still reduce the carbon [cost] of that oil.”

Oil 120
article thumbnail

UC Riverside opening Sustainable Integrated Grid Initiative; integration of solar energy, battery storage and electric and hybrid vehicles

Green Car Congress

Schematic of the “New Grid Testbed” components, including renewable energy generation, energy storage, smart distribution and electric transportation Click to enlarge. Energy monitoring, management and control tools developed by UC Riverside engineering students to ensure energy grid stability, reliability and efficiency.

Grid 287