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Michigan Potash Secures $1.26B DOE Loan for Fertilizer Project
Capstone Partners with Indigenous Communities on 537 MW Wind Projects
Convergent Energy Secures $584.5M DOE Loan for Puerto Rico Solar Projects
Kimbell Royalty Partners Closes $230M Midland Basin Acquisition
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In case you missed
Funding Round: Led by Hy24 and SC Net Zero Ventures, joined by Equinor Ventures, MassMutual Ventures, and others.
Expansion Goals: Scale to multi-ton reactors by 2026; advance ammonia cracking and hydrogen production globally.
Impact: H2SITE’s proprietary membrane reactors address hydrogen transport challenges, supporting decarbonization in maritime, industrial, and fuel cell applications.
Funding Focus: Five projects across industries like cement and power plants to test CO2 capture and removal technologies.
Highlights: Centers include University of Illinois for cement and Southern Company Services for real-plant evaluations.
Goal: Accelerate carbon capture deployment, enhance energy security, and support emissions reduction.
Objective: Scale carbon conversion into products like fuels, chemicals, and building materials.
Focus Areas: Biological, catalytic, and mineralization pathways to demonstrate economic and environmental feasibility.
Funding Commitment: DOE’s Loan Programs Office backs Michigan Potash with a $1.26B conditional loan guarantee.
Production Goals: Facility to produce 800,000 tons of potash and 1M tons of food-grade salt annually, leveraging the world’s purest potash reserve.
Sustainability: Facility will use emission-free electricity and recycle 90% of its water.
Strategic Importance: Reduces U.S. dependence on imported potash and strengthens food security through a partnership with ADM.
Energy Model: Combines RPower’s natural gas generators with Oklo’s advanced nuclear powerhouses.
Timeline: Natural gas deployment within 24 months, transitioning to nuclear for long-term emissions-free energy.
Focus: Reliable energy for data centers while advancing sustainability goals.
Funding: Backed by Morgan Stanley and Truist Bank to support LightReach energy plans.
Adoption: Over 20,000 households have installed solar, with 300 daily sign-ups since late 2023.
Impact: Offers no-upfront-cost solar leases, helping reduce residential emissions, which account for 42% of U.S. energy-related emissions.
Acquisition Details: KKR acquires the UK-based asset leasing firm with £250M EBITDA, marking a strategic move to decarbonize high-emission fleets.
Sustainability Goals: Plans include fleet electrification, solar energy, and battery storage solutions.
Projects: Three wind farms—Brewster (197 MW), Highland Valley (197 MW), and Mount Mabel (143 MW)—totaling 537 MW.
Energy Output: 1.4M MWh/year, powering 157,000+ homes in British Columbia.
Partnership: Indigenous communities hold significant equity, ensuring long-term economic benefits.
Project Details: Includes 100 MW solar PV paired with 55 MW battery storage in Coamo, plus standalone storage in three other cities.
Goals: Enhance Puerto Rico’s grid resilience and help achieve 100% clean energy by 2050.
Facility Details: 500,000 sq. ft. factory in Greenville, SC, producing advanced lithium-ion cells for defense and energy markets.
Timeline: Construction starts 2025, production by 2028.
DOE Support: $199M funding as part of efforts to strengthen U.S. energy storage supply chains.
Acquisition Scope: Mineral and royalty interests in Martin and Andrews Counties, producing 1,842 Boe/day.
Funding: Financed through a public offering and revolving credit facility.
Portfolio Scale: Kimbell now owns interests in over 17M gross acres and 130,000+ wells, including 51,000 in the Permian Basin.
Infrastructure Growth: Adding 400 MBbls/day water capacity, expandable to 600 MBbls/day.
Commitment: BPX Energy signs a 10-year volume agreement, supporting sustainable water management.
Strategic Advantage: Leverages LandBridge’s 273,000 acres for efficient operations.
Project Scope: Piedras Pintas Salt Dome in Texas to hold 50 Bcf of gas and 100M barrels of liquids, connected to Agua Dulce hub.
Timeline: Phase I caverns operational by 2028–2029.
Partnership: DRW anchors Phase I with plans to address energy volatility and support LNG development.
Be8 and Cemvita Partner for Circular Bioeconomy in Brazil
Focus: Converting glycerin, a biodiesel byproduct, into Sustainable Aviation Fuel (SAF) using Cemvita’s technology.
Orennia Closes Series C to Advance Ion_AI Platform
Funding: Backed by Decarbonization Partners to enhance analytics for power, renewables, and carbon capture.
Duke Energy Joins Bid for DOE SMR Grant
Grant Objective: Support design and licensing of GE Hitachi BWRX-300 SMRs to lower costs and technology risks.
AEP Pursues Grants for SMR Exploration in Indiana and Virginia
Potential Sites: Rockport Plant in Indiana and Joshua Falls site in Virginia.
Gravity Secures $13M to Streamline Carbon Reporting and Energy Optimization
Funding: $13M Series A led by Ansa Capital, bringing total funding to over $20M; Marco DeMeireles joins the board.
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.
