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DOE announces $127.5mm for carbon capture, removal, and conversion test centers
Marsh launches insurance solution for global CO2 transport and storage projects
Fortera secures $85mm Series C for low-carbon cement production
Infinium and Borealis to turn carbon emissions into plastics
Google to invest $1bn expanding Dallas data centers, signs 375MW in solar PPAs
Arevon and Meta announce long-term contract for Heirloom solar project in Indiana
D. E. Shaw Renewable and EPE announce solar and storage groundbreaking in NM
Jupiter Power announces operations of 400MWh of dispatchable power in Houston
Ormat signs tolling agreements for two 60MW/120MWH TX energy storage facilities
Quantum Capital Group acquires assets from Caerus Oil and Gas for $1.8 Billion
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The U.S. Department of Energy’s Office of Fossil Energy and
Carbon Management announced up to $127.5 million in federal funding for carbon dioxide capture, removal, and conversion test centers.
This initiative aims to support cement manufacturing facilities and power plants in achieving net-zero emissions by 2050.
The funding opportunity announcement will focus on three key areas:
A Carbon Capture, Removal, and Conversion Test Center at an Electric Generating Unit for post-combustion testing.
Enabling improvements at existing carbon capture test facilities for enhanced capabilities.
A test center at a Cement Manufacturing Facility for representative flue gas testing.
Marsh has launched an innovative insurance solution for carbon dioxide transport and storage projects globally.
This solution addresses significant insurance gaps hindering the advancement of the carbon capture and storage industry.
Created by Marsh’s Energy & Power team and underwritten by Canopius, it offers comprehensive coverage for operational financial security obligations.
The solution features a new non-damage trigger for geological leakage of CO2, covering costs for corrective measures and business interruption.
It includes indemnification for acquiring carbon credits related to leaked CO2, applicable across the entire removal chain.
Fortera secured $85 million in Series C funding to scale its low-carbon cement technology.
The investment will help deploy Fortera's ReCarb technology, which decarbonizes cement production using existing infrastructure.
Fortera's process captures CO2 emissions from cement production and converts it into low-carbon cement.
Full-scale ReCarb plants are projected to mineralize 165,000 tons of industrial CO2 and produce about 375,000 tons of low-carbon cement annually.
The funding round included returning investors like Khosla Ventures and Temasek, along with new investments from Wollemi Capital, NOVA by Saint-Gobain, Presidio Ventures, and Alumni Ventures.
Fortera's first ReCarb Plant operates in Redding, California, and aims to develop additional plants for producing ReAct green cement.
The ReAct cement has 70% less CO2 per ton than traditional cement and can be blended or used in replacement of ordinary cement.
Infinium and Borealis have partnered to produce low-carbon-footprint plastics from waste carbon dioxide emissions.
These plastics, known as polyolefins, are utilized in consumer goods such as packaging, appliances, apparel, and medical devices.
Infinium eNaphtha serves as a sustainable alternative to traditional fossil-based naphtha.
The eNaphtha is produced at Infinium's Project Pathfinder facility in Corpus Christi, Texas.
Commercial shipments of eNaphtha are being sent to Borealis' facility in Porvoo, Finland.
Plastics made from eNaphtha can be manufactured and recycled using conventional equipment used for naphtha-based products.
Infinium aims to decarbonize the world through various electrofuels, including eNaphtha, eSAF jet fuel, and eDiesel.
Google has announced plans to invest $1 billion in new data centers in Dallas, Texas.
The investment will take Google's total spending in Texas to $2.7 billion.
This expansion aims to meet the growing demand for Google Cloud, AI, and other digital products and services.
Google will sign long-term power purchase agreements with Elawan, Engie, Grupo Cobra, and X-ELIO for solar projects in Texas.
The agreements are expected to provide 375MW of carbon-free energy capacity to support Google's operations in the state.
Local energy firm AES has partnered with Google to develop hybrid wind and solar energy solutions totaling 727MW.
Arevon Energy and Meta Platforms have signed a long-term Environmental Attributes Purchase Agreement for the Heirloom Solar Project in Pike County, Indiana.
The Heirloom Solar Project is a 60 megawatt project that recently commenced construction, targeting full operation by the third quarter of 2025.
Arevon will own and operate the solar project, which will generate economic benefits for the local area.
Prior to the Heirloom Solar Project, Arevon and Meta announced two Environmental Attributes Purchase Agreements in March 2024 for the Kelso Solar Project in Scott County, Missouri, which will deliver 349 MW of power.
D. E. Shaw Renewable Investments and El Paso Electric announced the construction of the Carne Solar and Storage project in New Mexico.
The Carne project will have a capacity of 130 MWac solar and 260 MWh storage.
This is DESRI's second solar facility in Luna County, following the Alta Luna project that began operations in 2017.
Carne will help EPE work towards its 80% clean energy goal by 2035 and 100% by 2045.
The project is projected to generate enough energy to power approximately 37,600 homes yearly.
It has a 20-year power purchase agreement with EPE and is expected to commence commercial operations in 2025.
SOLV Energy will act as the engineering, procurement, and construction contractor and manage ongoing operations and maintenance.
Jupiter Power LLC announced the achievement of commercial operations of 400MWh of dispatchable power in Houston, Texas.
The power is supplied to the ERCOT grid from the Callisto I battery energy storage facility.
Callisto I is a 200MW/400MWh battery energy storage system located in central Houston, near major landmarks.
There is potential for the site to accommodate an additional 400MW/800MWh of battery energy storage.
The company is developing more than 11,000 MW of projects across the United States, with offices in multiple cities including Austin and Houston.
Ormat Technologies has signed two seven-year tolling agreements with Equilibrium Energy for energy storage facilities in Texas.
The facilities include the Lower Rio 60MW/120MWh and Bird Dog 60MW/120MWh projects.
These agreements secure seven years of fixed revenues for the energy and ancillary services provided by the facilities.
By 4Q 2025, both facilities are expected to come online.
Both projects are entitled to receive a 40% investment tax credit under the Inflation Reduction Act.
Caliche Development Partners has announced a major backing from Sixth Street, a global investment firm.
The investment by Sixth Street includes Caliche's Golden Triangle Storage facilities in Beaumont, TX, and Central Valley Gas Storage facilities in Princeton, CA.
This partnership will provide Caliche with resources to explore new opportunities and expand the Golden Triangle Storage complex.
Caliche recently received a blanket certificate to develop two natural gas caverns.
Caliche aims to meet the growing demand for the storage of natural gas and industrial gases, while focusing on safety and environmental impact.
Sixth Street's Infrastructure team will support Caliche's growth as it capitalizes on trends in global energy and electricity delivery.
Quantum Capital Group has acquired Caerus Oil and Gas for approximately $1.8 billion, including the assumption of liabilities.
Two new portfolio companies, QB Energy and KODA Resources, will operate the assets acquired from Caerus.
QB Energy will manage the Piceance Assets, which comprise the producing upstream and midstream assets along with about 600,000 acres.
KODA Resources will take over the Uinta Assets, which consist of similar asset categories across approximately 160,000 acres.
Quantum partners highlighted the significance of natural gas in the U.S. energy grid, expected to address energy shortages in western markets.
China's cabinet has approved five nuclear power projects according to state news agency Xinhua.
This project is being developed by a subsidiary of China National Nuclear Power.
The Jiangsu Xuwei project has a designed capacity of 2,866 megawatts.
The company announced that this project is currently in the preparation stage.
Paces raises $11 million Series A to accelerate clean energy development
Sirius Aviation AG and Marathon Group join forces to develop zero-emission airports
LanzaTech and LanzaJet announce new project with Wagner Sustainable Fuels in Australia
GAS Entec and AG&P to Build a Strategic LNG Terminal in the Kingdom of Jordan
Canadian Solar announces $200 million private placement of secured convertible notes with PAG
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.
