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Good Morning. This is the Sunya Scoop. The newsletter that takes energy transition news and turns it into an easy-to-read email for you.
Here’s what we have for you today:
ENGIE pre-orders 5 million tons of nature-based carbon removal credits from Catona Climate
Technip and Turner awarded EPC contract for Exxon’s Louisiana CCUS project
Pollination launches A$150mm early stage climate venture fund in Australia
Developers of gas-fired generation apply for $5bn Texas Energy Fund loans
The almost headlines
In case you missed
ENGIE and Catona Climate collaborate to scale nature-based carbon removals.
ENGIE pre-orders 5 million tonnes of nature-based carbon removals from Catona's portfolio for 2030-2039.
The collaboration aims to reduce emissions in line with public science-based targets and address residual emissions through high-impact projects.
Long-term offtake commitments attract capital for nature-based carbon removals and scale the market.
Jérôme Malka from ENGIE emphasizes the importance of developing quality nature-based carbon removal projects to achieve Net Zero by 2045.
Technip Energies and Turner Industries awarded EPC contract by ExxonMobil Low Carbon Solutions for Louisiana CCUS project
Contract covers delivery of CCUS system handling up to 800,000 metric tons per year of CO2 from Nucor manufacturing plant
System aims to reduce emissions from Nucor's direct reduced iron (DRI) production by up to 80%
Technip Energies to oversee engineering and procurement, Turner Industries to handle construction
Project aligns with Nucor Corporation's goal of net-zero emissions by 2050
Technip Energies emphasizes expertise in delivering efficient CCUS solutions, contributing to emissions reductions in hard-to-abate industries
Turner Industries committed to innovative solutions in carbon capture and storage, supporting sustainable industrial processes and advancing net-zero emission goals
Microsoft's Datacenter Community Pledge aims to build and operate digital infrastructure for societal benefit.
The pledge focuses on three core areas:
Contributing to a sustainable future: Achieving carbon negativity, water positivity, and zero waste by 2030. Procuring 100% renewable energy globally by 2025 and replenishing more water than consumed locally by 2030.
Advancing community prosperity: Providing economic, social, and environmental benefits to local communities through education, job creation, sustainability initiatives, and public infrastructure improvements.
Operating responsibly as a good neighbor: Partnering closely with communities, respecting the environment, and designing datacenters with sustainable practices in mind. Collaborating with local stakeholders and nonprofits to expand opportunities and support social responsibility and environmental sustainability.
Fulcrum BioEnergy's waste-to-jet fuel plant in Nevada has ceased operations and laid off workers due to funding issues, with CEO Eric Pryor also departing.
The company faced challenges with its Nevada plant after defaulting on bonds and struggling to get a second facility in Indiana off the ground.
Fulcrum, early in the sustainable aviation fuel (SAF) scene, launched in 2007 but faced delays and financial difficulties, eventually starting operations in May 2022.
The Sierra Biofuels plant in Nevada was claimed to be the first commercial-scale waste-to-SAF plant in the U.S., but it faced operational and financial hurdles, including missed bond payments and ongoing negotiations with UMB Bank.
Fulcrum's Indiana project, financed with a $375 million bond, has not commenced construction and faces local opposition.
The company informed Nevada facility staff of the shutdown on May 15 due to insufficient funding for restart after the shutdown.
SkyNRG and Microsoft launched Project Runway for Sustainable Aviation Fuel (SAF) procurement.
Project Runway enables airlines to access SAF through a Book & Claim system.
Airlines can share SAF price premiums with corporates to reduce Scope 3 aviation emissions.
Microsoft is the initial buyer of Scope 3 SAF claims in this initiative.
SkyNRG provides highly sustainable SAF, facilitating airlines' SAF procurement journey.
Project Runway aims to broaden and diversify the SAF market and supports accounting frameworks.
Stakeholders like Microsoft and SkyNRG highlight the initiative's importance in decarbonizing air travel.
The Book & Claim process allows SAF purchase and use, decoupling physical fuel from environmental benefits.
Pollination launches Climate and Nature Impact Venture Fund focused on Australian climate and nature technology.
Fund seeks to invest in early-stage and early expansion climate and nature solutions, with a target close of $150 million.
Investments will range from $4-12 million in companies at Series A and Series B stage, focusing on net zero disruption in energy management, clean industries, transport, food and agriculture, carbon and nature management, and circular economy.
Queensland Investment Corporation (QIC) backs the Fund with a commitment from the Queensland Venture Capital Development Fund (QVCDF).
Developers representing over 41 GW of gas-fired generation projects plan to apply for low-interest loans through the Texas Energy Fund (TEF), with $5 billion allocated for the program.
The TEF aims to incentivize new dispatchable electric generation facilities, covering 60% of project costs for at least 100 MW connecting to ERCOT before June 1, 2029.
More than 150 projects have submitted notices of intent to apply for loans, with full applications due by July 27.
Not all projects are considered viable; TEF loans may support around 10 GW of generation.
Texas load growth forecasts are increasing, with solar and storage dominating the interconnection queue for ERCOT.
Lieutenant Gov. Dan Patrick plans to expand the TEF program in the upcoming legislative session to meet Texas's growing energy needs.
Projects applying for TEF loans include FGE Eagle Pines (3,300 MW), CPV Basin Ranch (1,350 MW), Pecos Power Generation (478 MW), Woodrock GenCo (210 MW), ENGIE's Spenser peaking power facility (483 MW), and Vistra Energy's peaker plants (up to 860 MW) and coal-to-gas conversion at Coleto Creek Power Plant (600 MW).
CNX Resources Corp. released its 13th annual Corporate Sustainability Report titled "Radical Transparency."
The report highlights CNX's commitment to transparency, innovation, environmental stewardship, and community engagement.
Key achievements from the report include:
Establishment of a unique environmental monitoring and public disclosure collaboration with Pennsylvania.
30% year-over-year decline in operational methane intensity and reduction of over 171,000 tons of methane CO₂e emissions since 2020.
Minimization of freshwater consumption and water recycling efforts.
$5.6 million invested in community initiatives in 2023, with a total pledge of $30 million through 2026.
ecoLocked raises €4M to tackle the construction industry’s carbon footprint
SUN Mobility JVs with IndianOil on battery swapping infrastructure
Sunya Stories podcast - Capturing Carbon with Carbonvert CEO Alex Tiller
You can subscribe via 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.
