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Polestar, the premium electric performance car brand founded by Volvo Cars and Geely Holding, has set a goal of creating the first climate-neutral car by 2030. The company made the announcement in its first annual review. Environmental experts have warned that offsetting is not sustainable in the long run. Offsetting is a cop-out.
Infinium, an electrofuels solution provider, announced the close of a funding round bringing together a consortium of investors including Amazon’s Climate Pledge Fund, Mitsubishi Heavy Industries (MHI), AP Ventures, Neuman & Esser, and the Grantham Environmental Trust.
Canada-based AK Motor International Corporation, an automotive intellectual property management company, is launching a new electric vehicle brand: Maple Majestic. According to AK Motor, many electric vehicles still remain woefully ill-prepared for harsh climates.
The rapidly growing space industry may have a greater climate effect than the aviation industry and undo repair to the protective ozone layer if left unregulated, according to a new study led by UCL and published in the journal Earth’s Future as an open-access paper. The space industry is one of the world’s fastest growing sectors.
Vaekstfonden, the Danish Growth Fund, and the German engine manufacturer DEUTZ AG, are investing €15 million in methanol fuel cell company Blue World Technologies. The aim is to bring the company’s green fuel cell products and solutions to the global market. million in the company.
Members of the Corporate Electric Vehicle Alliance presented top vehicle manufacturers, including Volvo, GM, Daimler and Toyota, with a roadmap for developing the types of electric vehicles that companies plan to acquire in the US over the next five years. The analysis was prepared for Ceres by M.J.
Germany is awarding some €600 million to transport companies for the purchase of climate friendly buses. Around 1,700 buses will be procured by the transport companies with this tranche of funding from the new “Directive on the Promotion of Alternative Drives of Buses in Passenger Transport”. Funds of around €1.25
Hyundai Motor Group (the Group) announced that five key affiliate companies, including Hyundai Motor Company and Kia Corporation, will join Climate Group’s RE100 , a global initiative committed to moving toward 100% renewable energy. To be a member, a company must have significant power footprint (i.e.
Daimler Truck North America; Ford Motor Company; General Motors Company; Hino Motors Limited, Inc.; The Clean Truck Partnership, which includes Cummins, Inc.; Isuzu Technical Center of America, Inc.; Navistar, Inc.; PACCAR Inc.; Stellantis N.V.; PACCAR Inc.; Stellantis N.V.;
In late 2021, the company insourced all the production of the core fuel cell components and is currently in pre-series production. Later this year, Blue World Technologies will launch series production and with further scaling, the company expects to reach a production capacity of 500 MW within a couple of years.
Volvo Cars successfully placed its first green bond, raising €500 million from a diverse group of institutional investors and further increasing the company’s financial flexibility. A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects.
Despite these troubling findings about their climate impacts, ride-hailing services still have the potential to be part of a cleaner, low-carbon transportation future. Through electrification of vehicles and increased use of pooled rides, we can reduce the climate risks of ride-hailing services.
Essen-based energy company STEAG, Duisburg-based steel producer thyssenkrupp Steel and Dortmund-based thyssenkrupp Uhde Chlorine Engineers, specializing in electrolysis technology, are working on a joint feasibility study. At its core, our climate transformation is based on the use of hydrogen. It is important to plan ahead.
Hyundai Motor Company plans to ramp up the US commercial vehicle market entry with XCIENT Fuel Cell trucks. Our ultimate goal is to fight climate change and build a sustainable future. —Mark Freymueller, Senior Vice President and Head of Commercial Vehicle Business Innovation at Hyundai Motor Company.
an integrated castor cultivation solution company and a subsidiary of Evogene Ltd. signed a framework agreement to sell seeds of its proprietary castor varieties to one of the world’s leading oil and gas companies for cultivation in specific African territories. Casterra Ag Ltd. , Initial purchase orders, valued at an aggregate of $9.1
An analysis of near-term spending plans on renewables by the biggest oil and gas companies shows that real investments in renewable energy will continue to pale in comparison to capex plans for greenfield fossil fuel projects. BIT:ENI) recently unveiled what has been hailed as the most ambitious climate pledge yet by an oil supermajor.
It is the latest concrete step towards Volvo Cars’ ambition to have climate-neutral manufacturing by 2025, part of a wider climate plan that aims to reduce the overall carbon footprint per car by 40% between 2018 and 2025. By 2040, Volvo Cars aims to be a climate-neutral company.
The company is in discussions with the Government of Ontario regarding its support. This project is part of ArcelorMittal’s new global 25% CO 2 2030 emissions reduction target which was announced yesterday in our second climate action report. The new DRI and EAF will be in production before the end of 2028.
They are the product of Amazon’s partnership with Rivian, which the companies announced in 2019 when Amazon co-founded, and became the first signatory of The Climate Pledge—a commitment to reach net-zero carbon across its operations by 2040.
Volkswagen was one of the first car manufacturers to subscribe to the goals of the Paris Climate Agreement that aim to limit global warming to significantly less than two degrees by 2050. The company follows the principle of focusing first on the avoidance of CO 2 emissions and then on reducing emissions as far as possible.
Particularly when it comes to commercial vehicles, and above all when heavy loads have to be transported over long distances, the diesel engine will remain the preferred choice for the foreseeable future, the two companies said. Electric vehicles are climate-neutral if the charging power and hydrogen are sourced from renewables.
Enevate’s next-gen lithium-ion battery technology delivers up to 10 times faster charging than conventional lithium-ion batteries with high energy densities along with a host of other benefits, including improved safety and low-temperature operation for cold climates.
It’s no secret that we are in the midst of a rampant climate crisis. Electric vehicles are one of the most powerful climate solutions today—but also one of the most under-utilized. The heart of the company’s sustainability work is its work with lifecycle assessments. In fact, it’s all a lot of us are talking about.
Earlier this year the company announced the planned construction of a battery assembly line at its US plant outside Charleston, South Carolina. Volvo Cars’ aims to reduce its lifecycle carbon footprint per car by 40% between 2018 and 2025, as a first step towards its goal of becoming a climate-neutral company by 2040.
This commitment comes after successful pilots across different cities in 2019; learnings from these pilots have helped the company create scalable and long term EV variants to build this large fleet. Earlier post.)
Uber is adding more polluting car trips to already-clogged European cities such as London and Paris, new analysis by European NGOs suggests —contributing to air pollution and climate change and exploding the company’s sustainability claims. Source: “Europe’s giant ‘taxi’ company: is Uber part of the problem or the solution?”.
All proceeds are earmarked for funding and accelerating the company’s transformation towards becoming a fully electric carmaker by 2030 and becoming climate-neutral and circular by 2040. The successful placement shows that there is still a demand for sustainable investment opportunities, the company said.
The Swiss company Climeworks is building the world’s largest direct air capture (DAC) and storage facility for converting atmospheric CO 2 to rock in Iceland. From a scientific perspective, the adsorption of carbon dioxide from the atmosphere is an important measure in addition to reducing emissions for reaching the Group’s climate targets.
The research and development of this technology is being part funded by the German Ministry for Economic Affairs and Climate Action. Last year, Rolls-Royce announced a pathway to net zero carbon emissions and its electrical technology is one way in which the company is helping decarbonize critical parts of the global economy.
E-Fuels company HIF Global, together with partners, authorities, and community representatives, celebrated the production of the first liters of synthetic gasoline at the Haru Oni Demonstration Plant in southern Chile. We are very interested in importing climate-friendly hydrogen derivatives and fuels. Earlier post.).
And yet, super-rich super polluters are flying around like there’s no climate crisis. Despite the disproportionate climate impact, private jets are untaxed in most European nations because of exemptions from the EU’s carbon pricing scheme (EU ETS) and untaxed kerosene. One operator reported an 11.3%
This is the only way we can get people excited about climate-friendly mobility and switch them from an internal combustion engine to an electric car. The upper price limit of 44 cents per kWh was chosen taking into account both market economy and climate policy aspects. That's what we set out to do and that’s what we will deliver.
The company is entering into several partnerships for this purpose. When in use, fuel cells do not cause any climate-damaging emissions, as they only emit water vapor. The company’s product portfolio includes vans, trucks, buses/coaches and diesel and gas engines along with services related to passenger and cargo transport.
Kia EV6 ( earlier post )has achieved product carbon footprint certification and ‘ Carbon Measured ’ label from the global climate change and sustainability consultancy the Carbon Trust, becoming the first Korean vehicle manufacturer to achieve the certificate. The EV6 is the first model to be launched under this new strategy.
On the road to climate-friendly mobility, we must ensure we don’t leave any technical opportunities untapped, starting with electromobility and ending with renewable fuels. we save can help us achieve our climate targets. emissions—the existing fleet can also help achieve climate targets. Every bit of CO?
The result is a significantly lower climate impact and an important step towards a net-zero emissions value chain. Among the customers that will have fossil-free steel in some of their electric trucks are Amazon and DFDS and, through the transport company Simon Loos, Unilever. Earlier post.)
The Hong-Kong-listed company said it has been supplying electric buses to the US since 2016. school buses was remarkable not just because it was a breakthrough for the US market, but it is also the largest quantity from a single order of electric buses that the company has ever received.
Walmart will electrify and zero-out emissions from all of its vehicles, including long-haul trucks, by 2040, as part of its current goal to become a “regenerative company”. Walmart announced it is targeting zero emissions across the company’s global operations by 2040. —Doug McMillon, president and CEO, Walmart, Inc.
The company has acquired 100% of the shares of the US company ViCTORi LLC, better known as VAIREX air systems, effective 2 July 2021. VAIREX products have been on the market for more than ten years and the company has already delivered more than 15,000 air compressors to customers in 25 countries worldwide.
Porsche and Siemens Energy have joined forces with a number of international companies to build an industrial plant for the production of nearly CO?-neutral The necessary environmental permits have now been obtained by the Chilean project company Highly Innovative Fuels (HIF). neutral fuel (eFuel) in Punta Arenas, Chile.
The steel is produced by the Swedish steel company SSAB ( earlier post ) and the heavy-duty electric Volvo trucks will be the first to include it. The result is a much lower climate impact than conventionally produced steel. The world’s first truck manufacturer to do so, Volvo is now introducing fossil-free steel in its trucks.
The company will also strive for greater energy and material efficiencies to support longer-term carbon neutrality ambitions. The company’s electrification and emissions reduction efforts support the aims of the UN Paris Agreement on climate change and global progress toward carbon neutrality by 2050.
This new funding complements the initial investment of $24 million the company announced a few weeks ago, bringing the total private investment into ZeroAvia large engine development for 50+ seat aircraft to $37 million. The company currently employs about 50 people, expanding to over 100 in the next 12 months across both the US and UK.
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