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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.
These include the financing and construction of an oil refinery in the DRC to be owned jointly by both countries to meet regional demand for refined petroleum products, along with the construction of storage facilities for refined products. West-Central Coastal Province, West Africa.
The oil and gas boom in the United States was made possible by the extensive credit afforded to drillers. Not only has financing come from company shareholders and traditional banks, but hundreds of billions of dollars have also come from junk-bond investors looking for high returns. by Nick Cunningham of Oilprice.com.
The legislation also proposes numerous actions against financing and support for fossil fuel industries. Among the financing provisions of the legislation are: Price on carbon. Bernie Sanders (I-Vt.) and Barbara Boxer (D-Calif.) The legislation would enact a fee of $20 per ton or carbon or methane equivalent, rising at 5.6%
During a campaign speech, Alberta Premier Alison Redford proposed a $3-billion government-funded research agency to support oil sands environmental research. Redford said she would revive the Alberta Oil Sands Technology and Research Authority (AOSTRA) as AOSTRA 2. Globe and Mail.
Brightmark Energy , a San Francisco-based waste and energy development company, closed a $260-million financing package for the construction of the US’ first commercial-scale plastics-to-fuel plant, which will be located in Ashley, Indiana. The finished product generated by the RES Polyflow process is a light, sweet liquid known as pygas.
which is commercializing olefin metathesis technology for renewable fuels and chemicals, has raised $100 million in its Series C financing round. Its manufacturing platform integrates its proprietary technology in novel combinations with established industrial processes (metathesis, transesterification, hydrogenation). Earlier post.).
The grant will provide $10 million in the first year, which will fund the consortium members, in collaboration with more than 100 partner entities, to develop a roadmap to accelerate the growth and development of geothermal, leveraging expertise, technologies, and methods from the oil and gas industry.
The number of states with geothermal projects under development also increased, from 12 to 14 over the past six months, with the addition of two oil-field co-production projects in Louisiana and Mississippi. The recession, as the report confirms, is having an impact on the industry, according to the GEA. million people.
The Pacific Northwest has the diverse feedstocks, fuel-delivery infrastructure and political will needed to create a viable biofuels industry capable of reducing greenhouse gases and meeting the future fuel demands of the aviation industry, according to a newly-released study by Sustainable Aviation Fuels Northwest (SAFN).
A subsidiary of Valero Energy Corporation will provide financing to Diamond Green Diesel LLC, a previously announced joint venture project between Darling International and Valero Energy Corporation ( earlier post ), for the construction of its renewable diesel facility in Norco, Louisiana. Darling International Inc.
an agricultural biotechnology and seed company enabling the production of high quality, low-cost and sustainable plant oil, protein and biomass, announced success in its program to create hybrid Jatropha which has both high yield and rapid time to maturity. Jatropha oil can be used as a biofuel feedstock.
EnergyX) has secured commitments of $20 million in financing. EnergyX, along with its new partners and strategic investors including Obsidian Acquisition Partners, Helios Capital, and the University of Texas, hope to build a strong platform that binds together industry, academia, and natural resource management.
An article in the latest issue of IEA Energy: The Journal of the International Energy Agency reports that Estonia, which has the most developed oil shale industry in the world, is collaborating in pursuing wider use of oil shale in a cleaner, more sustainable manner. Different that shale oil—i.e., million (US$12.8
The focus on fuels without the chemicals is missing the point, and missing the model that has worked for over 200 years, and that’s the oil companies. In July, BME closed a series A financing round, with the lead investor, Rajiv Shah, joining the board. Kelly Ogilvie, speaking at the Algae Biomass Summit. Kelly Ogilvie.
About 63% of today’s nuclear generating capacity comes from plants that are more than 30 years old, since many were built in the aftermath of the 1970s oil shocks. And the nuclear industry must quickly address the issues of cost overruns and project delays that have bedevilled the construction of new plants in advanced economies.
Cool Planet Energy Systems, a renewable fuels and biochar company ( earlier post ), closed on its targeted $100 million Series D financing. Cool Planet’s green fuels are chemically identical to fossil fuels, with one of the lowest capital costs in the industry. The private placement has been jointly led by UBS and Goldman Sachs.
The point is, with volumes languishing (and probably poised to decline) tied to a flat oil futures price curve and with economics marginal at $60 per barrel, many E&P operators find themselves running through hedges in 2015 and still in need to finance their already reduced capital spending.
Solazyme produces tailored oils using heterotrophic algae grown in industrial fermenters. Algae-based renewable oil company Solazyme, Inc. Algae-based renewable oil company Solazyme, Inc. will have an expected annual production capacity of 100,000 metric tons of oil. Source: Solazyme. Click to enlarge.
GE Oil & Gas announced the development of a Micro LNG integrated plant that meets the small-scale liquefied natural gas (LNG) requirements of powering remote industrial and residential locations and fueling motor vehicles. The product introduction was among the opening day highlights of the 2012 GE Oil & Gas Annual Meeting in Florence.
Change in primary oil demand by sector and region in the central New Policies Scenario, 2010-2035. Under the WEO 2011 central scenario, oil demand rises from 87 million barrels per day (mb/d) in 2010 to 99 mb/d in 2035, with all the net growth coming from the transport sector in emerging economies. Click to enlarge. billion in 2035.
Lux Research has investigated the trends of corporate financing of alternative fuels from oil majors, based on a non-exhaustive database of more than 1,000 deals and partnership engagements from 2000 through September, 2014. Less active oil majors in this space include ExxonMobil and ConocoPhillips.
With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely, it now appears that oil prices could remain below $50 a barrel for a year or more. A stripper is a small operator of very old oil wells that frequently produce less than five barrels per day of oil.
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). million barrels of oil demand per day.
Increasing oil demand is requiring increasing imports; since 2009, China has been importing more than half of its petroleum needs. Additionally, in 2012 the Chinese Ministry of Finance announced it would provide annual subsidies up to two billion yuan ($323.6 China Electric (Battery) Fuel Efficiency Oil Policy'
growth in the industry over the next decade, Pike expects production volumes to fall short of an estimated 71.8 despite huge demand for biofuels from transportation end-markets, access to inexpensive feedstocks and financing hurdles remain challenging obstacles for biofuels production trying to keep pace with emerging mandates.
a bio-based specialty chemicals company, closed $13 million in Series A financing led by IA Ventures and OS Fund. Most specialty chemicals manufactured from oil today can also be made using Lygos’ technology of engineered microbes with sugar and water. This is the Industrial Revolution of synthetic biology. Lygos , Inc.,
The engine block is derived from a Cursor 11 commercial vehicle engine manufactured by FPT Industrial and has already served us for five years in various research projects. In cooperation with a major European supplier, a new oil-lubricated common-rail pump had therefore been developed. Image: Empa. —project leader Patrik Soltic.
biofuel made from cellulose, algae, duckweed, or cyanobacteria) could mitigate the current elevated risk of investing in the industry that is retarding its advance, according to a new paper by a team from the International Council on Clean Transportation (ICCT) and Johns Hopkins University. Miller et al. Click to enlarge.
million) financing from Bpifrance on the isobutene program. Bpifrance granted Global Bioenergies a “Zero Percent Interest Innovation Loan” (Prêt à Taux Zéro Innovation) to adapt its isobutene process to certain specific industrial environments. million (US$1.6-million) million interest-free loan over seven years.
I’m talking about the people who work for and represent E&B oil. These are the people who in the face of science that says we must transition from fossil fuels to renewable energy or destroy the futures of our children and all who come after them, still want to drill for oil that should never be burned.
million Series B financing round, co-led by new investor Groupe Lune Rouge and current investors Cycle Capital Management, and BDC Venture Capital. Like other oilseed crops, such as canola, soybean and corn, carinata oil is extracted when the harvested seed is crushed.
US-based biotech startup Amfora and CSIRO (Commonwealth Scientific and Industrial Research Organisation, the federal government agency for scientific research in Australia) signed an agreement to advance development and commercialization of technology to produce oil in the leaves and stems of plants as well as the seeds. Source: CSIRO.
million Series C round of financing. Schlumberger, a new investor from the oil and gas industry, led the round with participation from GM Ventures and Osceola Capital Management, LLC. Existing investors TPG, Claremont Creek Ventures and the California Clean Energy Angel Fund also participated.
Associated sanctions on Russia—with more than 5 million b/d in crude oil processing capacity—disrupted exports of Russia’s refined products into the global market, and will likely continue to do so as import bans in the European Union and United Kingdom come into full force. million b/d in 2022 and by an additional 1.6
The oil majors reported poor earnings for the fourth quarter of last year, but many oil executives struck an optimistic tone about the road ahead. The collapse of oil prices forced the majors to slash spending on exploration, cut employees, defer projects, and look for efficiencies. by Nick Cunningham of Oilprice.com.
million Series A round of financing, led by Cottonwood Technology Fund (CTF). million in funding, and plans to leverage the new financing to launch an HVAC-specific, fully-integrated motor. Expansion into Electric Vehicle and Oil and Gas segments are next in line for Infinitum. To date, Infinitum has received a total of $2.7
BASF Venture Capital has led a $3-million Series A financing with a $1.5 The Swiss entrepreneur and private investor Hansjörg Wyss has also participated in the financing. TPUs are used in a variety of applications such as sports and leisure footwear, industrial cables as well as specialty films.
In a three-year Business Finland BioFlex project, VTT—the Finnish state-owned research agency—and partners are exploring how suitable fuel oils made from biomass and waste plastics are for power plants and ship diesel engines. We are also conducting experiments to examine the suitability of the oils for applications.
Estimated consumption subsidies, industrial and developing countries, fossil fuels and renewables. GSI, in collaboration with the National Institute for Public Finance and Policy (NIPFP) and The Energy Resource Institute. Oil demand would be reduced by 3.7 Source: Worldwatch. Click to enlarge. in 2020 and 5.8%
Even as financial commentators on CNBC are starting to come around to the idea of a bottom in oil prices, the key question for US oil producers remains one of timing. How long will the oil price slump last? After the oil price crash in 1985, it took almost twenty years for prices to revert to previous levels.
Founded in 2006, Algenol converts CO 2 from industrial emitters into transportation fuels through its Direct-To-Ethanol process. Founded in 2006, Algenol converts CO 2 from industrial emitters into transportation fuels through its Direct-To-Ethanol process.
whereby Vitol would purchase 100% of the gasoline produced from MBFP’s industrial gasification and liquefaction facility located near. MBFP says it plans to sequester the CO 2 that is captured from the facility by selling the CO 2 for enhanced oil recovery (EOR). Medicine Bow, Wyoming. Earlier post.) We have received front end.
One casualty of the oil price downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. The collapse of oil prices, however, could kill off the megaproject.
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