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Microsoft to buy credits from 234,000 carbon credits from Toroto
Mitsubishi and Exxon sign agreement to advance low-carbon hydrogen project
Fervo announces geothermal results and $100mm debt financing
Exowatt unveils pioneering modular renewable energy for AI data centers
The almost headlines
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Check out the latest Sunya Stories podcast released today 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.
Google has announced a new deal to purchase carbon removal credits from Holocene at a record low price of $100 per ton for delivery by the early 2030s.
The partnership with Holocene is part of Google's commitment to decarbonize its operations and achieve net zero emissions.
Holocene's innovative approach combines elements of liquid and solid-based systems, which may facilitate cost reduction in the long term.
Google is providing upfront financial support and making a long-term commitment to accept credits from Holocene's lower-cost facilities.
Holocene's projects qualify for the U.S. government's 45Q tax credit, providing an additional incentive for investment in DAC.
Holocene captures CO2 using amino acids and other organic compounds, concentrating it for storage or transport after heating it to low temperatures.
This technology aims to address the high energy and capital costs associated with DAC, utilizing carbon-free or waste heat sources.
Through this partnership, Holocene aims to capture and store 100,000 tons of CO2 by the early 2030s, equivalent to the emissions from roughly 20,000 gas-powered vehicles.
Toroto has announced the sale of 234,000 nature-based carbon credits to Microsoft.
The project aims to enhance community livelihoods by restoring natural capital in one of Mexico's key rainforests.
The project is based in the Conhuás ejido within the Calakmul region and focuses on ecosystem restoration with local landowners.
Since 2021, the initiative has promoted carbon sequestration in over 47,000 hectares of tropical rainforest vital for biodiversity.
Mitsubishi Corporation and ExxonMobil have signed a Project Framework Agreement for a facility in Baytown, Texas.
The facility aims to produce virtually carbon-free hydrogen with approximately 98% carbon dioxide removed and low-carbon ammonia.
Mitsubishi Corporation plans to discuss the offtake of low-carbon ammonia and equity participation in the project.
The ammonia will be utilized in Japan for power generation, process heating, and other industrial uses.
The facility has the potential to become the largest of its kind globally, producing up to 1 billion cubic feet daily of low-carbon hydrogen.
A final investment decision is expected in 2025, with startup projected for 2029.
Mitsubishi Corporation intends to convert part of its liquified petroleum gas terminal into an ammonia terminal for transshipment.
Mitsubishi Corporation aims to handle around 1 million tons of low-carbon ammonia annually by 2030 through its hub.
The company plans to partner with Idemitsu Kosan Co., Ltd. for joint equity and ammonia offtake from the Baytown facility.
Both companies are collaborating to develop supply chains for low-carbon hydrogen and ammonia between the U.S. and Japan.
This comes a week after ADNOC buys a 35% stake in Exxon’s project.
Nevada demonstration plant integrates direct lithium extraction, concentration and conversion technologies to sustainably produce lithium at scale.
Integrated technology solution produces lithium from brine 500 times faster than conventional methods while using significantly less land, water and chemical reagents.
The solution operates at about one tenth the size of a commercial-scale facility while reaching a 96% recovery rate of lithium from brine.
It includes advanced impurity treatment and concentration technologies to produce high-purity lithium carbonate or hydroxide.
This solution uses significantly less water, energy, and fewer chemical reagents compared to other DLE-based processes.
The entire SLB process from extraction to conversion takes just hours, compared to evaporation methods which can take up to 18 months and have a lower recovery rate.
Lithium produced from this process can be utilized as lithium chloride, lithium carbonate, or lithium hydroxide for various applications, including electric vehicles.
SLB completed specific technical milestones at the pilot plant, allowing it to potentially acquire 100% ownership interest in the Clayton Valley Project.
Fervo Energy held its second annual Technology Day, announcing significant technical and commercial breakthroughs.
The company drilled 15 wells at Cape Station and achieved record-breaking commercial flow rates during its first well test.
Fervo secured a $100 million construction loan from X-Caliber Rural Capital to expedite its operations.
Cape Station is set to begin delivering 24/7 carbon-free electricity to the grid by 2026.
The site has contracted 400 megawatts of renewable power from investment grade buyers, with operations starting by 2028.
A 30-day test achieved a maximum flow rate of 107 kg/s at high temperature, enabling over 10 MW of electric production.
The output from the recent well test is triple that of Fervo's previous commercial pilot, Project Red.
The company has achieved a 70% year-over-year reduction in drilling times while advancing high temperature drilling performance.
The highest reservoir temperature achieved to date exceeds 220° C.
Fervo has leveraged a workforce primarily drawn from the oil and gas sector for its on-site operations at Cape Station.
X-ELIO will provide Google with clean energy output from its Bell Renewable Energy Plant in Texas.
The agreement will allow Google to increase the use of clean energy in its Texas operations in support of its goal to run on 24/7 carbon-free energy on every grid where they operate.
X-ELIO has signed a Power Purchase Agreement for 128 megawatts of sustainable electricity from its Bell Solar PV Plant located in Texas.
The solar farm is expected to start operations in the second half of 2025, supporting Google's operations in Texas.
The Bell PV Plant will feature a 100 MW battery energy storage system for 24/7 energy demand support.
X-ELIO is a Brookfield-owned company specializing in developing renewable energy projects with a global presence.
Exowatt has launched the Exowatt P3, a modular energy solution for data centers and energy-intensive industries.
The launch follows a $20 million seed round funded by prominent investors including a16z, Atomic, and Sam Altman.
The Exowatt P3 integrates advanced technology to harness solar energy and store it using a long-duration thermal battery.
It generates electricity at a competitive cost of under 4 cents per kWh and can save data centers up to $35 million in energy expenses while reducing CO2 emissions by 438,000 tons.
The system is modular and scalable, allowing deployment for projects of various sizes, and is designed for low operating costs.
Key advantages include on-demand dispatchable energy, built-in thermal storage, capability to meet 90% of industrial energy needs, rapid installation, and a sustainable supply chain without reliance on rare earth minerals.
Exowatt reports a backlog of demand exceeding 1.2 gigawatts from U.S. data centers, with deployments expected to begin soon.
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.
