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Lithios raises $12mm led by Clean Energy Ventures to expand lithium supply
ExxonMobil secures largest CO2 offshore storage site in the U.S.
Form Energy raises $405mm in Series F for iron-air battery business
NineDot Energy announces over $40 million in tax equity financing
Blue Energy secures $45mm to make nuclear power commercially viable
Amazon’s Climate Pledge Fund adds investments in e-waste, carbon storage, and lower-carbon buildings
DC BLOX raises additional capital and secures $265mm green loan
Ashtrom Renewable Energy commences operation of Tierra Bonita Solar Project
The almost headlines
In case you missed
Rio Tinto has announced a definitive agreement to acquire Arcadium Lithium for US$5.85 per share in an all-cash transaction.
The deal represents a significant premium of 90% compared to Arcadium's closing price prior to the announcement and values Arcadium's diluted share capital at approximately $6.7 billion.
This acquisition aims to strengthen Rio Tinto's position as a global leader in energy transition commodities, which includes lithium.
Arcadium's current lithium production capacity is 75,000 tonnes lithium carbonate equivalent per year, with plans to more than double that by 2028.
Rio Tinto intends to leverage its financial strength and project development capabilities to maximize Arcadium's Tier 1 resource potential.
Lithios has secured $12 million to expand lithium supply and meet global electric vehicle and energy demand.
The company's Advanced Lithium Extraction technology enables extraction of over 85% of untapped lithium with a tenfold reduction in energy use.
Lithios received $10 million in seed financing led by Clean Energy Ventures along with participation from TechEnergy Ventures, GS Futures, Lowercarbon Capital, and MassCEC.
The funding will allow Lithios to scale research and development, manufacturing, and operations while developing commercial projects to produce thousands of tons of lithium carbonate annually.
Lithios is addressing infrastructure and processing challenges in remote locations and for high-contaminant lithium sources.
ExxonMobil has secured access to over 271,000 acres in Texas state waters, ideal for CO2 storage.
The agreement will directly benefit the Texas Permanent School Fund.
The lease complements ExxonMobil's onshore CO2 storage portfolio and solidifies the U.S. Gulf Coast as a carbon capture and storage leader.
ExxonMobil operates the largest CO2 pipeline network in the U.S. and is positioned to leverage its extensive infrastructure for comprehensive solutions.
Form Energy, Inc. announced a $405 million Series F financing round led by T. Rowe Price.
The company focuses on developing cost-effective, multi-day energy storage systems.
Investors in the Series F round include GE Vernova, TPG Rise Climate, Breakthrough Energy Ventures, NGP and several others.
This funding brings Form Energy's total raised funds to over $1.2 billion.
GE Vernova and Form Energy signed a Memorandum of Understanding for strategic collaboration.
The collaboration aims to enhance manufacturing operations and commercial deployment of iron-air batteries.
NineDot Energy announced the closing of its first tax equity financing of over $40 million.
The financing transaction, facilitated by Monarch Private Capital, involves seven battery storage projects in the New York City region.
The financing was made possible by the IRA, which expanded the investment tax credit to include battery storage projects.
NineDot will use the proceeds to support its growing pipeline of over 50 battery storage projects in development and operation in the New York City metro area.
NineDot has now secured approximately $450 million in total for developing and operating battery storage sites across the region.
Century is the first fully-integrated demonstration of several fusion power plant-relevant technologies, including a significant test of a plasma-facing liquid metal blanket.
It has successfully completed over 1,000 consecutive plasmas in a short duration in a chamber lined with flowing liquid metal.
Zap Energy raised $130 million in Series D funding, led by Soros Fund Management LLC and supported by several new investors.
The funding will advance plasma R&D and systems-level plant engineering, including new generations of the FuZE device and a pulsed power capacitor bank.
Blue Energy has announced a $45 million Series A funding round co-led by Engine Ventures and At One Ventures, with additional investments from various venture capital firms.
The company has introduced a modular nuclear power plant that can be manufactured centrally in existing shipyards, reducing costs and build time significantly.
The funding will help advance core engineering efforts, site development, and partnership acquisitions.
Blue Energy's design allows for costs to be reduced from $10,000 per kW to $2,000 per kW and construction time decreased from 10 years to 2 years.
The company is reactor-agnostic and partners with reactor vendors to leverage existing regulatory advancements, thus speeding up market entry for their plants.
Amazon's Climate Pledge Fund has announced three new investments in startups focused on sustainability as part of its commitment to reach net-zero carbon emissions by 2040.
The Climate Pledge Fund, established in 2020 with $2 billion from Amazon, has invested in 31 companies that are addressing climate change through innovative technology.
The new investments include Molg, which addresses e-waste through circular manufacturing with robotic solutions.
Paebbl transforms CO2 into carbon-storing building materials, aiming to make concrete a permanent carbon sink and is set to trial its products in an Amazon data center.
14Trees uses 3D printing technology to facilitate the production of lower-carbon buildings, including data centers and utilities in Europe and the United States.
Amazon has integrated technology from five CPF-funded companies into its operations to promote sustainability.
Forum Mobility develops zero-emission trucking solutions and is building a network of charging depots in California.
Glacier employs AI and robotics to improve recycling processes and aims for a future without waste by automating the sorting of recyclables.
Hippo Harvest grows organic greens in greenhouses, using significantly less water, fertilizer, and land compared to traditional farming methods.
Rivian is collaborating with Amazon to produce electric delivery vans, with a target of 100,000 vehicles by 2030, already deploying over 15,000.
Subeca has created an ultrasonic smart water meter to help monitor and improve water use efficiency in Amazon's operations without the need for traditional infrastructure.
DC BLOX, a provider of interconnected data centers, has raised incremental equity capital from existing and new investors, led by Post Road Group and Bain Capital Credit.
The funding will provide over $1 billion of total capital for future construction and development of powered-land banking opportunities.
The company secured a $265 million green Senior Secured Credit Facilities loan from First Citizens Bank, ING Capital, and Nomura Securities International, Inc.
This financing aims to develop multiple preleased hyperscale-driven edge sites and invest in energy infrastructure for a project requiring 216 MW of utility power.
TotalEnergies has signed an agreement with RWE to acquire a 50% stake in two offshore wind projects in the North Sea.
The projects, N-9.1 and N-9.2, each with a capacity of 2 GW, are located 110 km off the German coast and have 25-year licenses that can be extended to 35 years.
This acquisition complements TotalEnergies' existing offshore wind concessions, enhancing its 6.5 GW offshore wind hub in Germany.
Ashtrom Renewable Energy has commenced operations at its Tierra Bonita solar project in Pecos County, Texas.
The project has a capacity of 306 MWac and is expected to produce enough electricity for approximately 75,000 households annually.
The total investment in the project is $435 million, with Ashtrom investing $165 million in equity.
Ashtrom has entered into a 20-year Power Purchase Agreement with CPS Energy for 60% of the electricity generated with the remaining electricity sold on the free market.
Ashtrom signed an innovative agreement under the Inflation Reduction Act for the transfer of production tax credits worth $300 million over ten years.
CBRE Acquires NRG’s Renewable Advisory Group to Enhance Client Sustainability Solutions
Carbon Mapper Releases First Emissions Detections from the Tanager-1 Satellite
Colorado School of Mines and Carbon TerraVault awarded $8.9 mm in DOE funding
Submer raises $55.5mm led by M&G for sustainable immersion cooling for data centers
Walmart invests in multi-state community solar portfolio developed by Solar Landscape
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.
