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The global geothermal industry surpassed 12,000 MW of geothermal power operational, with about 600 MW of new geothermal power coming online globally, according to a year-end update by the Geothermal Energy Association (GEA). New project announcements have increased the resource under development to about 30,000 MW.
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
Pinnacle Engines, developer of a highly efficient 4-stroke, spark-ignited (SI), opposed-piston, sleeve-valve architecture engine ( earlier post ), has appointed five industry leaders to its newly formed Asian Business Advisory Board.
Porsche is investing US$75 million in HIF Global LLC, a holding company of internationally active project developers of eFuel production facilities. In total, an amount in the low nine-figure USD range is flowing into HIF Global LLC. AME remains the majority shareholder of HIF Global LLC. Earlier post.).
The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2022 and by an additional 1.6
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. Financing Project VGV: the Green Redemption Fund. The fund would also encompass an industrial development plan. Click to enlarge.
SafeAI, a global leader in autonomous heavy equipment, announced a collaboration with Siemens today to create an autonomous, zero emission heavy vehicle fleet for Obayashi Corporation. In partnership with pioneers like SafeAI and Obayashi Corporation, we can imagine a more sustainable future for these industries.
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. Global investment in technologies to help the energy transition reached a record $1.3 trillion in 2022, IRENA said.
Although on paper, capacity in the pipeline appears sufficient to meet this demand growth, Roskill expects challenges and set-backs in developing, financing and commissioning lithium mining and refining operations. In 2019, rechargeable batteries accounted for 54% of total lithium demand, almost entirely from Li-ion battery technologies.
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.
million Series A financing round led by prominent Silicon Valley venture fund, Playground Global, with the investor syndicate comprising Fortescue Future Industries, Coatue, Global Founders Capital, Plug Power, Airbus Ventures, JetBlue Technology Ventures, Toyota AI Ventures, Sojitz Corporation, and Future Shape.
Global Bioenergies will soon be receiving €2.6 Global Bioenergies will soon be receiving €2.6 Financing a first of its kind plant, based on an innovative technology is always a challenge. —Marc Delcourt, CEO of Global Bioenergies. Global Bioenergies and Cristal Union created the joint venture IBN-One.
EnergyX) has secured commitments of $20 million in financing. Rising global demand for electric vehicles and economic energy storage systems has led to projections showing an orders-of-magnitude increase in demand for lithium. In 2020 global supply was roughly 315k tons; this is expected to rise to 5.5M Earlier post.)
China’s State Council has published a plan to develop the domestic energy-saving and new energy vehicle industry, which includes battery-electric vehicles, plug-in hybrid vehicles and fuel cell vehicles. 2012 Chinese Auto Industry Development Report. Developing the industrial system. L/100km (40 mpg US) or less.
Among other things, we will promote the production of hydrogen on an industrial scale in Australia with German-Australian ‘Hydrogen Hubs’ using German technology and explore possibilities for cooperation within the framework of our new international funding instrument ‘H2-Global’. Co-financing of “HydrogenHubs”.
Cummins has entered into a definitive agreement to acquire Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. Meritor is an industry leader in axle and brake technology. Under the terms of the agreement, Cummins will pay $36.50
This will be the first volume production of fuel cells in Norway and a hub for the Norwegian hydrogen industry. We combine a best-in-class fuel cell solution with a long history of being a trusted engineering partner to leading companies in the global maritime industry. Financing alternatives are being evaluated.
Leading banks and the United Nations on Sunday launched the Principles for Responsible Banking , with 130 banks collectively holding US$ 47 trillion in assets—one third of the global banking sector—signed up. The Principles create the accountability that can realize responsibility, and the ambition that can drive action.
million in new financing. Surging global demand for electric vehicles (EVs) and other motorized devices has highlighted global dependency on the unsustainably-produced rare earth materials currently required for the magnets needed in electric drivetrains and motors.
As the world contends with a global energy crisis, nuclear power has the potential to play a significant role in helping countries to securely transition to energy systems dominated by renewables, according to a new special report by the IEA. —IEA Executive Director Fatih Birol.
Strategy Analytics’ Automotive Connected Mobility service released its H1 2021 Global Ride-Hailing Market Update and its associated Global Ride-Hailing Forecast , tracking more than 140 unique operators across 119 different countries. over the next 10 years, with a global market recovery expected toward the end of 2022.
A group of leading shipping industry companies are taking the next step to develop new fuel types and technologies by launching the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping. Møller - Mærsk, Cargill, MAN Energy Solutions, Mitsubishi Heavy Industries, NYK Lines and Siemens Energy.
In addition to new investors BlackRock and Sinobioway, existing investors also participated in this financing. This new and significant financing will help accelerate our growth and further expand project development and implementation. BlackRock operates globally with 70 offices in 30 countries and clients in 100 countries.
The funding is led by the venture arm of MANN+HUMMEL (a global market leader in filtration and separations), Energy Revolution Ventures from the UK, Volta.VC Hydrogen production is also a major emitter of CO 2 , generating approximately 1000 million tons or more than 2% of global O 2 emissions. Source: DiviGas.
Current levels of investments in low-carbon technology and infrastructure are substantially lower than the $500 billion per year deemed necessary by the International Energy Agency (IEA) to hold the increase of global average temperatures below 2 °Celsius—the target agreed to in Cancun last year.
PACCAR and Aurora have signed a global, strategic agreement to develop, test and commercialize autonomous Peterbilt and Kenworth trucks. In the strategic partnership, PACCAR provides autonomous-enabled vehicles as well as aftermarket parts distribution, finance and other transportation solutions.
As part of a cross-industry initiative, the BMW Group, BASF SE, Samsung SDI and Samsung Electronics have launched a joint cobalt pilot project in the Democratic Republic of the Congo. This fully privately financed project seeks to pilot an approach to address challenges in artisanal mining.
Demand is expected to initially build on the decarbonization of existing industrial uses of hydrogen (95 MtH 2 eq), most notably for fertilizer production. Decarbonizing current and developing new end-uses, it can abate up to 85 GtCO 2 eq in cumulative emissions by 2050, more than twice global CO 2 emissions in 2021.
By Luvhrtz As a management consultant, I spend most of my working life playing with numbers and math in the areas of business development and finance. My analysis goals have always been to make use of data and computer models to better understand industry trends. With BEVs starting to go mainstream, we now have enough […]
START is a significant step forward for the aluminum industry as the first offering of this kind, setting a new standard on transparency, traceability and responsible production from mine to market. The START sustainability label is now available for aluminum purchased from Rio Tinto’s managed operations globally.
China supplied roughly 85% of global total refined rare earth production in 2020, though for Dy alone, this increases to around 95% of global production. In 2020, Chinese mine production of rare earths is expected to reach 110kt, falling back from 2019, though continuing to represent >55% of global mine output.
Global Bioenergies has received 13 letters of intent from French and international industrial leaders for purchases totaling 49,000 to 64,000 tons of isobutene and derivatives annually. The letters of intent come from the cosmetics, specialty fuels, road fuels and air transport industries.
An estimated 387GW/1,143GWh of new energy storage capacity will be added globally from 2022 to 2030, according to the forecast—more than Japan’s entire power generation capacity in 2020. The US and China are set to remain the two largest markets, representing more than half of global storage installations by the end of the decade.
Niron will use this financing to advance the commercial partnerships and pilot production of its rare earth-free Clean Earth Magnet, further demonstrating its potential to replace rare earth permanent magnets. One of the top 5 global wind turbine OEMs. Earlier post.). Today, these magnets rely on rare earth elements. 2019.165962.
The road transport sector could still reach net-zero emissions by 2050 through electrification, but urgent action would be required from policymakers and industry participants, according to research company BloombergNEF’s (BNEF) latest annual Long-Term Electric Vehicle Outlook (EVO). Last ICE in 2038.
The global push to convert the world to electric vehicles will cause supply chain complexities that could undermine the alternative energy transition in the United States, according to a new report from Rice University’s Baker Institute for Public Policy. Global Nickel Trade and Chinese Dominance.
The committee calls for an “Ocean Fund” for the period from 2023 to 2030, financed by revenues from auctioning allowances under the ETS, to make ships more energy-efficient and to support investment in innovative technologies and infrastructure, such as alternative fuel and green ports, to decarbonize the maritime transport sector.
The A$300 million (US$193 million) Advancing Hydrogen Fund will be administered by the Clean Energy Finance Corporation (CEFC). Hydrogen has the potential to make a substantial contribution to our clean energy transition, reducing emissions across the economy while underpinning the development of an important domestic and export industry.
In September 2020, oneworld became the first global airline alliance to announce a target of carbon neutrality by 2050, establishing its commitment to long-term sustainability for the industry. Gevo estimates that the agreement should generate approximately $2.75
The two will cooperate globally in credit financing, retail lending, and international business. The post Polestar enters into strategic partnership with Industrial Bank in China appeared first on CnEVPost. For more articles, please visit CnEVPost.
UK Prime Minister Boris Johnson confirmed that the government will accelerate the ban on the sale of new gasoline and diesel vehicles, bringing it forward by ten years to 2030, as part of a “Green Industrial Revolution.” Johnson announced the plan as part of his outline of a 10-point plan supporting the Green Industrial Revolution.
Plug Power, Chart Industries, Inc. Plug Power intends to commit €160 million ($200 million), and Chart Industries and Baker Hughes each intend to commit €50 million respectively ($60 million). The Fund will exclusively finance projects in the production, storage and distribution of clean hydrogen.
The facility also manufactures seamless pipe for the energy sector, as well as wire rod and coiled reinforcing bar for construction, automotive and specialty industries. Lightsource bp financed, owns and operates Bighorn Solar and sells the electricity it generates to Xcel Energy under a 20-year power purchase agreement.
The findings of this joint research on ammonia cracking will help support industry-wide efforts to decarbonize transport and heavy industrial processes and lower carbon emissions to meet global climate goals.
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