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Microsoft builds first datacenters with wood to slash carbon emissions
Meta’s potential nuclear project rumored to be halted by rare bees (FT)
Japan Airlines and Sumitomo to purchase $500mm in Archer’s electric aircrafts
H&M Group signs solar PPA with Lightsource bp for 125 MW project in Texas
FREYR Battery announces acquisition of Trina Solar’s U.S. manufacturing assets
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Microsoft is constructing its first datacenters using superstrong ultra-lightweight wood to reduce reliance on steel and concrete, significant sources of carbon emissions.
The hybrid approach incorporates cross-laminated timber, a fire-resistant wood material that decreases embodied carbon footprint by 35 percent compared to steel and 65 percent compared to precast concrete.
Microsoft achieved a 6.3 percent reduction in direct emissions over three years, though indirect emissions rose significantly due to datacenter growth.
The company is implementing various strategies, including updating contract language for low-carbon materials and requiring suppliers to use carbon-free electricity by 2030.
Microsoft launched a $1 billion Climate Innovation Fund to invest in companies developing climate solutions, having already committed $761 million to transformative technologies.
Microsoft is also investing in companies like Sweden’s Stegra and Boston Metal, which focus on new methods of steel production with significantly reduced emissions.
Investments in low-carbon concrete technologies include CarbonCure, which injects CO2 into concrete, and Prometheus Materials, which uses microalgae for zero-carbon cement.
Meta's plans to build a nuclear-powered AI data center in the US were disrupted due to the discovery of a rare bee species near the intended location.
Meta sought a deal with a nuclear power plant operator for emissions-free electricity to support its AI goals, but faced environmental and regulatory obstacles.
Rivals Amazon, Google, and Microsoft have secured nuclear power deals for energy-intensive AI data centers; one AI query uses up to 10x the energy of a Google search.
Meta continues exploring options for carbon-free energy, including nuclear, despite setbacks.
Nuclear energy is considered a stable power source for AI, though it involves high costs, long build times, and reliance on Russia for fuel.
Other tech giants' recent nuclear moves include Microsoft’s Three Mile Island project, Amazon’s $650 million investment at Susquehanna, and Google’s order of small modular reactors.
Zuckerberg has expressed frustration over the limited nuclear options in the US compared to China, which is rapidly advancing nuclear power infrastructure.
Meta has achieved net-zero emissions in operations since 2020.
Carbon TerraVault received approval from the Kern County Board of Supervisors for conditional use permits for the Carbon TerraVault I CCS project.
The company signed a Brownfield MOU for the potential sequestration of up to 1.5 million metric tons per annum of CO2 emissions.
Carbon TerraVault is targeting final Class VI permits for the CTV I – 26R reservoir by late 2024 and plans to make a Final Investment Decision shortly thereafter.
The total potential CO2 injection rate for all projects under consideration is now 4.2 million metric tons per annum.
The company secured approximately $27 million in funding from the U.S. Department of Energy for a project under the Carbon Storage Assurance Facility Enterprise initiative.
In partnership with the Colorado School of Mines, Carbon TerraVault was awarded $8.9 million from the DOE for a feasibility study on a carbon storage project in California.
They became the official carbon management partner for the Los Angeles Rams, launching a new initiative to reduce carbon emissions from team operations.
An MOU was established with Sage Geosystems to explore projects related to subsurface energy storage and geothermal power in California.
Sumitomo SHI FW and Capsol Technologies announce a carbon capture demonstration campaign at Mälarenergi’s bio-CHP plant in Västerås, Sweden.
The demonstration unit will begin operations in November 2024 under a rental agreement between SFW and Capsol.
SFW will provide a mobile carbon capture demonstration facility to be operated by Mälarenergi at their biomass plant.
The campaign aims to gather data on the performance of the technology in Mälarenergi's specific flue gas conditions to optimize a full-scale capture plant.
The planned full-scale capture plant is expected to reduce emissions by approximately 400,000 tons of CO2 annually.
The HPC process captures more than 90% of CO2 and produces high-purity CO2 while being eco-friendly and safe for residential areas.
In October 2023, SFW and Capsol agreed to two CapsolGo demonstration campaigns to be executed within SFW’s client base, following a previous campaign at Växjö Energi AB’s plant.
The University of Oklahoma is leading an $18.7 million project to research carbon storage funded by the U.S. Department of Energy.
The project, known as The Oklahoma Carbon Hub, will evaluate three sites in Osage and Kay Counties for CO2 injection.
The plan aims to store approximately 54 million metric tonnes of carbon dioxide over 20 years.
Three customers for CO2 storage are already committed, including the CVR Fertilizer Plant, the Azure Sustainable Aviation Fuel Production Facility, and the Heimdal Direct Air Capture Units.
Archer Aviation Inc. and Soracle Corporation, a joint venture between Japan Airlines and Sumitomo Corporation, signed agreements to focus on advanced air mobility services in Japan.
Soracle plans to launch air mobility operations using Archer's Midnight electric aircraft to provide air taxi flights in urban areas.
Soracle has the right to order up to 100 Midnight aircraft, amounting to approximately $500M, with partial pre-delivery payments tied to milestones.
The company intends to establish flight routes in popular areas like Tokyo, Osaka, and Okinawa, enhancing mobility in congested regions.
Soracle and Archer will collaborate with the Japanese Civil Aviation Bureau to acquire permissions and certifications, with initial discussions already underway.
BETA Technologies has raised $318 million in Series C equity capital to fund growth and commercialization.
QIA led the investment round, joined by significant participation from long-time BETA investors.
United Therapeutics has also joined this funding round as an investor.
BETA has successfully raised over $1 billion in total equity capital to date.
The funding will support the production, certification, and commercialization of BETA’s all-electric aircraft and infrastructure.
BETA is developing aircraft optimized for payload and range, with plans to certify both cargo and passenger configurations.
The company is focused on making air transportation more reliable, greener, and cost-effective.
H&M Group has been working to increase renewable electricity in the world's power grids through Power Purchase Agreements.
In 2021, H&M Group partnered with Lightsource bp to commit to a multi-year power contract for renewable energy projects.
H&M Group signed a virtual power purchase agreement for the 125MW Second Division solar project in Texas.
The solar farm is under construction in Brazoria County and will support local energy independence.
H&M Group aims to source 100% renewable electricity by 2030 and achieve net-zero emissions by 2040.
The group targets for at least 50% of renewable electricity to come from new renewable energy generation through power purchase agreements.
FREYR Battery has entered an agreement to acquire the U.S. solar manufacturing assets of Trina Solar Co Ltd.
The acquisition includes a 5 GW solar module manufacturing facility in Wilmer, Texas, which began production on November 1, 2024.
FREYR is also planning to develop a new 5 GW solar cell manufacturing facility, with production expected to start in the second half of 2026.
Total consideration for Trina Solar is valued at $340 million, which includes cash, loan repayments, common stock, and convertible notes.
The acquisition is set to establish a vertically integrated U.S. solar manufacturing footprint, creating up to 1,800 direct jobs.
Check out the latest Sunya Stories podcast with JP Morgan’s Rama Variankaval.
Rama Variankaval is Global Head of Corporate Advisory & Sustainable Solutions at J.P. Morgan. This group combines the capabilities of Corporate Finance Advisory, Center for Carbon Transition, Sustainable Solutions, and Infrastructure Finance Advisory.
We talk energy transition, carbon reduction, and the impact of AI on energy.
This episode is audio-only and you can find it on Spotify or Apple Podcasts as well.
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
