SAF in Spain and Hydrogen in App

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3Degrees announced a carbon removal transaction with Microsoft for over 80,000 metric tons from the Blue Creek Improved Forest Management Project in Northern California.
Managed by Western Rivers Conservancy, the project enhances forest carbon stocks and funds the creation of the Blue Creek Forest and Salmon Sanctuary.
The initiative aims to conserve 47,000 acres of temperate rainforest and repatriate land to the Yurok Tribe.
The sale of carbon credits has enabled WRC to purchase ancestral lands and donate them back to the Tribe.
The Blue Creek area, nearly 15,000 acres, is conserved as a Salmon Sanctuary, protecting vital habitats for salmon and steelhead.

Graphyte has successfully closed a $30 million Series A funding round to accelerate its carbon dioxide removal technology and operations.
The funding round was co-led by Prelude Ventures and Carbon Direct Capital, with participation from Breakthrough Energy Ventures and Overture.
Graphyte's Carbon Casting technology sequesters carbon-containing biomass waste underground, offering a low-cost solution for carbon credit buyers.
The company plans to scale its operations with the Loblolly project in Arkansas, aiming for a capacity of 50,000 metric tons of carbon dioxide removed per year by early 2025.
Proceeds from the Series A funding will enable the launch of four additional carbon removal facilities in 2025 and 2026.

IAG has reached an agreement with Repsol for the purchase of over 28,000 tons of sustainable aviation fuel (SAF), marking the largest SAF purchase in Spain to date.
This SAF provides an emissions reduction of more than 80% compared to traditional jet fuel throughout its life cycle.
As of December 31, 2023, IAG's investments in SAF totaled $1 billion, with a third of the necessary SAF secured for its 10% SAF goal by 2030.
This agreement will supply SAF to IAG airlines operating from Spanish airports, including Aer Lingus and British Airways.
Repsol started producing 100% renewable fuels at its Cartagena facility, which has a capacity of 250,000 tons per year and represents a €250 million investment.
Repsol aims to achieve a production capacity of 1.7 million tons of renewable fuels by 2027 and 2.7 million tons by 2030.

ARCH2 awarded up to $925 million to develop a clean hydrogen hub in Appalachia.
The U.S. Department of Energy selected ARCH2 for the Regional Clean Hydrogen Hubs Program, a long-term initiative.
ARCH2 received $30 million for Phase 1, expected to last up to 36 months starting July 2024.
Future federal funding will be based on achieving specific milestones.
The project will produce clean hydrogen to decarbonize manufacturing and transportation sectors.
The initiative involves collaboration among government, private industry, and community groups in West Virginia, Ohio, and Pennsylvania.

Excelsior Energy Capital has signed a multiyear agreement with Fluence Energy to develop 2.2 GWh of battery energy storage systems in the U.S.
The projects are set to commence in 2025 and aim to enhance grid stability and support domestic manufacturing.
Battery cells will be primarily sourced from Tennessee, while Fluence's battery modules will come from Utah, strengthening the domestic supply chain.

Avantus has completed an acquisition by KKR, securing a majority equity interest from investment funds managed by KKR.
Along with this acquisition, Avantus has closed a $522 million development facility arranged by KKR Capital Markets and SMBC.
The development facility will enable Avantus to support its growth and manage a development portfolio exceeding 30 gigawatts of solar energy and 94 gigawatt-hours of energy storage.
Since its inception, Avantus has developed and sold projects totaling 7.3 gigawatts of solar energy and 17 gigawatt-hours of storage.
KKR has invested over $15 billion in renewable energy and climate-related ventures from its infrastructure platform, focusing on solutions for a low-carbon economy.

I Squared Capital announced its agreement to acquire Priority Power Management, LLC, enhancing its commitment to sustainable energy solutions.
Priority Power is a leading independent provider of energy management services across over 40 U.S. states.
The acquisition will allow Priority Power to expand its services and address the challenges of energy pricing and consumption.
I Squared’s investment aims to enhance Priority Power’s growth and support the nation’s power infrastructure for economic development.

Stonepeak has formed a joint venture with American Tower subsidiary CoreSite to develop a new data center in Denver, Colorado.
The venture, named CoreSite DevCo JV, will create an 18 megawatt (MW) data center called DE3, with CoreSite managing its operations.
Stonepeak will own 85% equity in the joint venture, while CoreSite will hold the remaining 15%.
CoreSite operates an interconnection-focused data center platform across 28 facilities in 11 U.S. markets, including a prominent presence in Denver.
DE3 will be developed in three 6 MW phases with an estimated total development cost exceeding $250 million.

Silver Hill Energy Partners, LP announced the closing of its fourth partnership, Silver Hill Energy Partners IV, LP, with total capital commitments of $1.13 billion from institutional investors.
The firm focuses on direct investments in oil, natural gas, and related infrastructure properties in active basins across the Lower 48.
Their current portfolio includes over 55,000 net acres in the Haynesville Shale and approximately 86,000 net acres in the Bakken Shale.
Since August 2021, Silver Hill has completed seven large upstream acquisitions and two midstream projects while also making numerous mineral and royalty acquisitions.
Silver Hill plans to continue developing its assets in Haynesville and Bakken while exploring new opportunities for portfolio growth.