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Summit Carbon Solutions secures North Dakota pipeline permit
Corteva to partner with bp to for low carbon bio-feedstock for SAF production
BlackRock, Ripple, Samsara, Block purchase SAF certificates through Watershed
Bloom Energy to provide fuel cells to AEP for AI data centers
TotalEnergies, bp, Equinor and Shell join forces to help increase access to energy
DTE Energy announces an additional $100mm investment to rebuild the electric grid
Oklo announces acquisition of Atomic Alchemy to expand into radioisotope market
Commonwealth Fusion Systems magnet success propels fusion energy
MetGen partners with NewEnergyBlue for biochemicals refined from ag waste
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Summit Carbon Solutions has received a Route Permit from the North Dakota Public Service Commission for its CO2 pipeline project.
This decision represents a significant achievement in the advancement of carbon capture and storage infrastructure.
Summit has engaged extensively with landowners and community leaders in North Dakota, incorporating their feedback into project planning.
Over 82% of the necessary easements for the North Dakota route have been secured by Summit Carbon Solutions.
The company has also obtained a permit in Iowa and plans to apply for a permit in South Dakota on November 19.
Summit Carbon Solutions is focused on expanding economic opportunities for ethanol producers and farmers while creating jobs through the largest carbon capture and storage project in the world.
Abraxas Power Corp. and EDF Group have entered into strategic development agreements for the Exploits Valley Renewable Energy Corporation green hydrogen and ammonia project in Central Newfoundland.
The project is a Power-to-X initiative that plans to include over 3 gigawatts of onshore wind capacity along with energy and molecular storage for green hydrogen and ammonia production.
It is expected to produce approximately 200,000 tons of green hydrogen and 1,000,000 tons of green ammonia annually, with dedicated port infrastructure for global export.
The objective is to reach a final investment decision by 2026, with construction scheduled from 2026 to 2030.
The project anticipates offsetting over 1.5 million tonnes of CO2 per year and contributing over CAD 5 billion to the provincial budget through stakeholder benefit agreements.
Corteva Inc. has announced a collaboration with bp to form a joint venture focused on crop-based biofuels.
The joint venture aims to produce biofuels to meet the growing demand for sustainable aviation fuel.
Countries worldwide are implementing mandates and incentives to decarbonize the aviation sector, including the EU's plan for 20% sustainable aviation fuel by 2035.
Corteva and bp have executed a non-binding memorandum of understanding to scale up to one million metric tons of biofuel feedstocks per year by the mid-2030s.
Corteva will contract with farmers in North and South America and Europe to grow proprietary crops suitable for sustainable aviation fuel production.
The joint venture intends to introduce new cropping systems that comply with EU and US low carbon intensity policies, benefiting farmers economically.
Watershed announced that it has facilitated the purchase of sustainable aviation fuel certificates on behalf of major companies including BlackRock, Ripple, Samsara, and Block.
These purchases, coordinated with the Sustainable Aviation Buyers Alliance, will provide sustainable aviation fuel for Alaska Airlines passenger flights and help offset corporate travel emissions.
This investment supports the production and use of sustainable aviation fuel, which is seen as a crucial climate technology for air travel.
The purchases are part of SABA's largest collection of deals, expected to result in $200 million worth of sustainable aviation fuel, equating to about 50 million gallons and 500,000 tonnes of carbon dioxide reduction over five years.
Watershed acts as an aggregator for SABA, boosting investment in and adoption of sustainable aviation fuel by consolidating customer demand.
Bloom Energy has signed a supply agreement with American Electric Power for up to 1 gigawatt of fuel cells, the largest commercial procurement of fuel cells to date.
AEP has placed an initial order for 100 megawatts of fuel cells, with expected expansion orders in 2025.
This agreement builds on Bloom’s previous work with AEP for deploying solid oxide fuel cells in various settings.
Bloom Energy's fuel cells provide rapid deployment, high availability, and a power density of 100 megawatts per acre.
The installation will support the immediate power demands of artificial intelligence data centers.
The fuel cell solution offers 34% lower CO2 emissions compared to current resources in PJM Interconnection.
When using natural gas, the solution virtually eliminates sulfur oxides and nitrogen oxides emissions.
Bloom's fuel cells can operate on 100% hydrogen or any mix with natural gas for continued carbon footprint reduction.
TotalEnergies, bp, Equinor, and Shell have announced a commitment to invest in support of the UN Sustainable Development Goal 7, aiming for affordable and sustainable energy access for all.
The companies are joining forces with a joint investment of $500 million to create a positive impact on energy access in key regions.
Currently, the number of people without electricity globally has increased to about 685 million, with 2.1 billion lacking clean cooking facilities.
The investment will primarily target Sub-Saharan Africa, South and Southeast Asia to support projects that improve electricity access and cooking conditions.
The committed capital will be used for solutions such as solar home systems, mini/metro grids, and clean cooking solutions.
DTE Energy announced a $100 million investment to construct three new electric substations.
The new substations aim to reduce power outage frequency by 30% and cut outage time in half by 2029.
The locations of the new substations are Northville Township, Pontiac, and Shelby Township.
Oklo Inc. has signed a letter of intent to acquire Atomic Alchemy Inc., specializing in radioisotope production, for $25 million in an all-stock deal.
This acquisition aims to combine Oklo's fast reactor technologies with Atomic Alchemy's expertise to support cancer treatment and diagnostic imaging.
The radioisotope market is projected to reach $55.7 billion by 2026, with increasing demand due to supply chain challenges.
Oklo plans to create reliable U.S.-based facilities for radioisotope production, addressing global shortages and enhancing supply stability.
The proposed strategy includes using radioisotopes as coproducts of nuclear fuel recycling, introducing complementary revenue streams.
The acquisition is expected to diversify Oklo's market reach into biotech, pharmaceuticals, and more.
Commonwealth Fusion Systems announced successful testing of the Central Solenoid Model Coil, a significant step towards clean fusion power.
The CSMC test validates high-temperature superconducting magnets necessary for the SPARC fusion machine.
The company previously demonstrated similar success with the Toroidal Field Model Coil in 2021.
The TFMC tested magnets with steady electric current, while the CSMC tested magnets with current pulses.
CFS aims to produce its first plasma for SPARC in 2026 and deliver net fusion energy shortly thereafter.
The ultimate goal is to pave the way for the ARC power plant to deliver grid energy in the early 2030s.
Commonwealth Fusion Systems, founded in 2018, is the largest private fusion company and has raised over $2 billion in capital.
NewEnergyBlue and MetGen are integrating their renewable technologies to compete with fossil-carbon products.
The collaboration aims to create a broader array of higher-value, lower-carbon biochemicals using biomass.
NewEnergyBlue's first U.S. biomass refinery is expected to begin operations in 2027 in Mason City, Iowa.
The refinery will convert locally-sourced corn stalks to produce biofuel and clean lignin.
MetGen has developed economical enzymes and lignin fraction technology over the past 18 years.
Half of New Energy Freedom's lignin could be used as a natural binder for asphalt, while the other half will produce various bio-products.
There are plans for a commercial lignin-to-chemicals project in Finland by early 2026.
Aramco, SINOPEC, and Fujian Petrochemical have broken ground on a new integrated refining and petrochemical project in Fujian Province, China.
The greenfield project is expected to be fully operational by the end of 2030.
It aims to maximize chemical output with a planned capacity of 16 million tons per year of oil refining and 1.5 million tons per year of ethylene production.
The complex will supply around five million tons per year of feedstock to the Gulei Petrochemical Base.
Aramco and SINOPEC will each hold a 25% stake in the project while Fujian Petrochemical will own 50%.
“I’ve been a lifelong environmentalist. Climate change is a real problem and I’ve been speaking on it for 20 years…”
Chris Wright will be an incredible Energy Secretary. He gave these remarks at @ACCAction’s summit in Salt Lake City last year.
— Brian Martinez (@BrianMartinezWI)
9:50 PM • Nov 16, 2024
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.
