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Global renewable energy investment increased between 2013 and 2018, reaching its peak at US$351 billion in 2017, according to a new report by the International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI). Renewable energy investment slightly declined in 2018, with modest growth through 2019.
Despite the much-vaunted megatrend involving the global electrification drive and shift to renewable energy , the most ambitious pledges by Big Oil to pursue net-zero agendas remain weak at best. BIT:ENI) recently unveiled what has been hailed as the most ambitious climate pledge yet by an oil supermajor. 2 Total SA.
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.
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.
The Volvo Cars manufacturing plant in Chengdu, the company’s largest in China, is now powered by 100% renewable electricity, taking the company’s global renewable electricity mix in its manufacturing network to 80%. By 2040, Volvo Cars aims to be a climate-neutral company. Hydropower station dam in Chengdu.
Chevron USA kicked off a road trip across the US Gulf Coast to showcase an innovative new gasoline blend with more than 50% renewable content. During the tour, Chevron representatives will talk with members of the public about the benefits of lower carbon fuels such as biofuels and renewable gasoline blend.
The new fuel, called Blue Gasoline, similarly contains up to 33% renewables, ensuring a well-to-wheel reduction in carbon emissions of at least 20% per kilometer driven. 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.
This clearly shows the positive role America’s existing energy infrastructure can play in creating a sustainable future and fighting climate change. It enhances Neste’s leading position, building on the company’s more than 15-year head start in creating an end-to-end renewable product value chain.
Arcadia’s technology matches home energy consumption with renewable energy sources from a variety of US wind and solar projects using renewable energy certificates, all without any installation or disruptions to their utility service. The company has set itself the goal of reducing vehicle-specific CO 2 emissions by 30% by 2025.
General Motors plans to source 100% renewable energy to power its US sites by 2025—five years earlier than previously announced, and 25 years ahead of its initial target that was set in 2016. Sourcing renewable energy is a critical component of GM’s plans to decarbonize its portfolio.
In a commentary in the journal Joule , Rob McGinnis, founder and and CEO of Prometheus , a company that is developing technology to remove carbon dioxide from the air and turn it into fuels, discusses the technology advances that could lead to the potential price-competitiveness of renewable gasoline and jet with fossil fuels.
Ecology, a transportation and logistics company in California, has switched its fleet of more than 600 trucks to run on Neste MY Renewable Diesel and is reporting cleaner fuel filters, fewer maintenance problems and reductions in tailpipe emissions. Neste MY Renewable Diesel reduced climate emissions by 8.3
Eleven companies have formed Hydrogen Forward , a new coalition focused on advancing hydrogen development in the United States. These companies believe that accelerating investment in hydrogen will help the US deliver on its climate goals while creating a stronger economy with new, good-paying jobs.
Seeking to slash CO 2 emissions from its North American manufacturing operations, Honda has entered into long-term virtual power purchase agreements (VPPAs) for renewable wind and solar power that will cover more than 60% of the electricity that Honda uses in North America. will deliver to the grid by the end of 2020.
The new “Green Hydrogen Catapult” initiative will see green hydrogen industry leaders target the deployment of 25 gigawatts through 2026 of renewables-based hydrogen production, with a view to halve the current cost of hydrogen to below US$2 per kilogram. —Paddy Padmanathan, CEO of ACWA Power. ºC campaign. degrees Celsius.
Raven SR, a renewable fuels company ( earlier post ), announced the closing of a strategic investment from Samsung Ventures, expanding Raven SR’s reach into the global market, especially in Asia-Pacific region. Raven SR’s technology is designed to produce more green hydrogen per ton of waste than competing processes.
Suncor Energy, a Canadian integrated energy company that is one of the top oil sands producers in the country, will strengthen its focus on hydrogen and renewable fuels to accelerate progress towards its objective to be a net-zero company by 2050. In 2002, Suncor partnered with Enbridge to build one of the first renewable.
Efforts to shift away from fossil fuels and replace oil and coal with renewable energy sources can help reduce carbon emissions but do so at the expense of increased inequality, according to a new study by researchers at Portland State University (PSU) and Vanderbilt University. —Julius McGee.
While NuStar has handled conventional jet fuel at its Selby Terminal for decades, the companies are now working together to establish the facility as a hub for low-emission renewable fuels and to make it easier for businesses and cities to access renewable diesel and sustainable aviation fuel. million trees. million trees.
Neste Corporation has made the final investment decision to invest into new renewable products production capacity in Rotterdam. The decision is based on demand for renewable products growing substantially with customers’ higher climate ambitions. million ton capacity for renewable products in Rotterdam is the largest in Europe.
Neste and Scania are piloting a digital solution that enables easy follow-up and verification of each truck’s usage of renewable fuels. Customers can compare the climate impact of their use of Neste’s renewable fuels to fossil fuels and track their continuous progress towards climate targets.
Four key Hyundai Motor Group affiliate companies—Hyundai Motor Company (Hyundai Motor), Kia Corporation (Kia), Hyundai Mobis, and Hyundai Wia—are now members of Climate Group’s RE100 , a global initiative committed to large corporates moving toward 100% renewable electricity.
General Motors and Shell, through its wholly owned subsidiary MP2 Energy, LLC, are collaborating to provide comprehensive energy solutions programs to GM’s customers and supply chain partners, including fixed-rate home energy plans backed by 100% renewable energy resources. of EV charging. of EV charging.
(TTSI) is replacing its entire diesel trucking fleet with near-zero emission natural gas trucks, which it plans to fuel with carbon-negative renewable natural gas (RNG). In addition, when fueled with renewable natural gas the trucks will reduce greenhouse gas emissions by more than 80%. Southern California Gas Co.
The fuel, jointly developed by Volkswagen, the Coburg University and other project partners, contains up to 33% renewable components based exclusively on residual and waste materials and enables CO 2 savings of at least 20% compared to conventional diesel thanks to the use of biofuels. Volkswagen employees tested the new fuel initially.
Mining giant Rio Tinto will invest around $1 billion over the next five years to support the delivery of its new climate change targets and a company objective for net zero emissions from operations by 2050. Enhance resilience to physical climate risks. Rio Tinto’s new 2030 climate targets are linked to executive remuneration.
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. We believe that there is no way around hydrogen to realize the energy transition towards renewables. million km as of 30 April 2022.
Synthetic fuels are a decisive factor in energy transition and the use of renewable energies. In other words, we will be electrifying the entire system for propulsion and energy purposes, including the fuel, by producing it with renewable energies in a climate neutral. —Andreas Schell, CEO of Rolls-Royce Power Systems.
This figure includes investment in projects—such as renewables, storage, charging infrastructure, hydrogen production, nuclear, recycling and CCS—as well as end-user purchases of low-carbon energy devices, such as small-scale solar systems, heat pumps and zero-emission vehicles. from the year prior.
Project AIR will demonstrate a highly innovate, integrated process concept for low-carbon, renewable and circular methanol production within the European energy-intensive chemical sector. Project AIR aims to substitute all the 200,000 tons of fossil methanol that Perstorp uses annually in Europe as a raw material for chemical products.
The funding will help Sierra Energy further develop and commercialize its FastOx gasification technology, which converts virtually any waste into clean, renewable energy and fuels without burning. BNP Paribas SA, Twynam Investments Pty Ltd, Formica Ventures AB, and The March Fund I LP. —Mike Hart, Sierra Energy’s CEO.
Synthetic fuels for passenger vehicles, commercial trucks or even marine applications could play an important role in achieving a near-zero emissions mobility, by using renewable energy sources, such as solar or wind power, to create a closed CO 2 cycle when viewed from a holistic “well-to-wheel” perspective.
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.
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.
Preem has chosen Haldor Topsoe’s HydroFlex renewable fuel hydrotreating technology to produce clean renewable diesel and jet fuel at its Gothenburg refinery in Sweden. This volume of renewable fuel can reduce emissions from cars and planes by 2.5 million tons CO 2 every year.
Porsche, Siemens Energy and partners are developing and implementing a pilot project—the “Haru Oni” project—in Chile that is expected to yield the world’s first integrated, commercial, industrial-scale plant for making synthetic climate-neutral fuels (eFuels). Electrolyzers will use wind power to produce green hydrogen.
LanzaJet, a sustainable fuels technology company and renewable fuels producer, has secured financing for its Freedom Pines Fuels plant in Soperton, Georgia ( earlier post ), through the Microsoft Climate Innovation Fund. LanzaJet produces SAF and renewable diesel from low-carbon, sustainable ethanol sources.
Neste, the world’s largest producer of renewable diesel and sustainable aviation fuel (SAF) produced from waste and residue raw materials, has delivered its first batch of sustainable aviation fuel to San Francisco International Airport (SFO) via pipeline, where it will be used by major airlines committed to reducing carbon emissions.
GTI has released a site-specific engineering design titled “ Low-Carbon Renewable Natural Gas (RNG) from Wood Wastes ”. These companies are world experts in gasification, gas clean-up, and conversion technologies. A biomass power plant in Stockton, California, was the host site for the engineering design effort. Source: GTI.
Fisker aims to produce a climate-neutral vehicle by 2027. The company seeks to utilize only climate-neutral materials in products and use only climate-neutral services to support the business. The company recognizes the challenges of producing and delivering products without creating greenhouse gas (GHG) emissions.
QIA is one of six founding members of the One Planet Sovereign Wealth Fund Initiative, which is building climate change into financial decision making, and the proposed investment further highlights QIA’s growing focus on the development of green technologies.
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.
Over the past year and a half, the company has invested around €10 million at Rolls-Royce Solutions in Augsburg in test bench modernization, hydrogen infrastructure and other measures as part of its ‘Net Zero at Power Systems’ climate protection program.
Germany’s Federal Ministry of Economic Affairs and Climate Protection (BMWi) has approved €900 million for the innovative funding instrument H2Global. —Robert Habeck, Federal Minister of Economic Affairs and Climate Protection. The contracts are processed via the intermediary HINT.CO.
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