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The report, A Paradigm Shift Towards Sustainable Low Carbon Transport , finds that more than $1.5 trillion is spent annually on transport globally, mostly in ways that exacerbate rather than solve the problems associated with traffic growth, including congestion, health-harming air pollution, accidents, energy insecurity, and climate change.
The road transport sector could still reach net-zero emissions by 2050 through electrification, but urgent action would be required from policymakers and industry participants, according to research company BloombergNEF’s (BNEF) latest annual Long-Term Electric Vehicle Outlook (EVO). million sold in 2021 to 21 million in 2025.
has closed a $68,155,000 “Green Bond” private activity bonds offering to finance the construction of its renewable natural gas (RNG) project in Northwest Iowa. Gevo fully funded the RNG Project’s development costs and 100% of its equity capital from cash reserves. The RNG Project will generate RNG captured from dairy cow manure.
A new study published by US Department of Energy’s (DOE) Argonne National Laboratory offers the most complete understanding yet of the costs of owning and operating a vehicle, and how those costs vary by powertrain, from the conventional to the cutting-edge. United States: N. doi: 10.2172/1780970.
Project Volt Gas Volt is based on a long-term financing plan and the use of existing technologies for the large-scale conversion of surplus renewable electricity to methane, with subsequent reuse. This would help speed up the return on investment in VGV for the development costs of the energy transition. Diagram: Isabelle Plat.
Denmark leads the way when it comes to putting zero-emission urban buses on the streets in Europe, with 78% of new vehicles being electric, according to the latest data from green NGO Transport & Environment. However, Germany is now financing 80% of the higher purchase cost of e-buses.
A bi-partisan Congressionally-created commission has recommended a shift from motor fuel taxes to direct fees charged to transportation infrastructure users—i.e., a federal mileage fee—as a way to reform financing of the US transportation infrastructure. The nation faces a crisis. Paying our Way”. of GDP today. Click to enlarge.
million and 4 million vehicle sales respectively), according to research company Bloomberg New Energy Finance (BNEF). However, achieving such growth level will be dependent on two key factors: aggressive reductions in battery costs and rising gasoline prices. However, actual sales will be much lower and limited by vehicle availability.
Loop Energy, a provider of fuel-cell-electric range-extenders for medium- and heavy-duty transport applications, has received an additional cash investment from Cummins Inc. The further investment was made following Loop’s successful completion of milestone requirements established at the time of Cummins initial investment in September 2019.
a manufacturer of electric-mobility solutions to the transportation sector ( earlier post ), closed a $35-million financing with Marathon Asset Management. Workhorse Group Inc., —Workhorse CEO Steve Burns. In addition to closing the Marathon loan facility, Workhorse continues working in partnership with Duke Energy Corporation.
Calysta Energy completed a Series A financing round totaling $3 million. The financing was led by Pangaea Ventures Ltd., Calysta intends to use the Series A investment to advance development of biological routes to high value industrial chemicals and fuels based on methane, an advantaged feedstock from natural gas. Earlier post.).
Cost of carbon abated for transport applications. This saving is similar for both conventional heating and transport applications. Cost of carbon abated. Strategically the UK needs to consider the most cost effective approach for decarbonizing, the report notes. Click to enlarge.
Consumers who purchase an electric vehicle will find that lifetime costs to own the vehicle are competitive with conventional and hybrid vehicles, according to an analysis conducted by the Electric Power Research Institute (EPRI). —“Total Cost of Ownership for Current Plug-in Electric Vehicles”.
The EV Policy Showroom features databases, calculators, guidance and tools that provide free, easy access to up-to-date transportation-electrification policy information, with an emphasis on state-level policies. It also discusses strategies to reduce the upfront costs of EVs and EV infrastructure by pooling demand and promoting competition.
SolarCity and Honda have renewed their partnership with a new fund expected to finance $50 million in solar projects. The new commitment will make solar power more affordable and available to Honda and Acura customers and dealerships in the US. The $50-million fund is a follow-up to a $65-million fund the companies created in 2013.
Electreon, a provider of wireless and in-road electric vehicle (EV) charging technology, signed an agreement of cooperation with Israel public transportation company Electra Afikim. The cost of the deal is $1.9 In addition, Electra Afikim will bear the cost of the electricity. million in the project.
The cost of new-build onshore wind has risen 7% year on year, and fixed-axis solar has jumped 14%, according to the latest analysis by research company BloombergNEF (BNEF). The global benchmark levelized cost of electricity, or LCOE, has retreated to where it was in 2019.
The board of De Lijn, the public transport authority and operator in Flanders, Belgium, has approved the order of 60 electric buses from Van Hool and VDL. They best met the awarding criteria and offered the best price-quality terms relating to total cost of ownership, zero-emission range, technical quality and look & feel.
Within the Netherlands transport sector, inland navigation accounts for 5% of carbon dioxide emissions. By switching from diesel-fueled propulsion to fully electrically powered transport, an important step can be taken towards realizing the Paris Climate Agreement goals.
The US has up to now adhered to the user-fee principle in financingtransportation infrastructure—i.e., The demand for new roads and the cost of expanding and maintaining the transportation system have increased with population and economic growth. States use similar mechanisms. —Huang et al.
The report, Destination Sustainability: Reducing Greenhouse Gas Emissions from Freight Transportation in North America , looks at the continental freight transportation network, a key component of the transportation sector, which is the second-largest source of greenhouse gas (GHG) emissions in North America, after electricity generation.
For proft, not-for-proft, or nonprofit contractors that have the capacity to sell clean school buses, zero-emission buses, charging or fueling infrastructure, or other equipment needed to charge, fuel, or maintain clean or zero-emission school buses; or arrange financing for such a sale. Non-profit school transportation associations.
With this level of cell energy efficiency—well above International Renewable Energy Agency’s (IRENA) 2050 target and significantly better than existing electrolyzer technologies—hydrogen production cost could be well below US$1.50/kg. This leads to inherently bubble-free operation at the electrodes. Hodges et al.
The most popular segment today for ultracapacitor modules in the transportation market is for use in stop-start vehicles, and early-stage applications for ultracapacitors also include grid-scale energy storage and wind turbines. Skeleton is currently preparing a launch of Round A financing at the end of February.
The San Francisco Bay ARea Metropolitan Transportation Commission (MTC) announced that its 511 Rideshare program is partnering with Lyft to launch a new carpooling option for Bay Area commuters. Lyft’s new carpooling service will allow commuters to offset the costs of driving on their regular commute routes.
GE Capital’s TransportationFinance business and Clean Energy Fuels Corp., the largest provider of natural gas fuel for transportation in North America, have entered into a strategic alliance to accelerate the conversion of heavy-duty trucking fleets from diesel to cleaner-burning, less-expensive natural gas.
Germany’s Federal Ministry of Transport and Digital Infrastructure (BMVI) is awarding €80 million to the Fraunhofer-Gesellschaft’s National Action Plan for Fuel Cell Production. —Andreas Scheuer, Federal Minister for Transport and Digital Infrastructure. I am firmly convinced that we will make Germany a hydrogen country.
The board may also decide not to move forward with the transportation project altogether. The last two companies up for the project are Elon Musk’s tunneling company and Bexar Automated Transport (BAT). Tesla vehicles would transport riders between the international airport and downtown. Bexar Automated Transport’s Plans.
—Frost & Sullivan Automotive and Transportation Senior Research Analyst Prajyot Sathe. Currently, inductive charging is offered as an aftermarket solution with attractive financing options. As a result, inductive charging will soon be available in cars either as an additional feature or as an inbuilt feature.
Toyota is collaborating with Joby Aviation (Joby), an aerospace company that is developing and commercializing all-electric vertical take-off and landing (eVTOL) aircraft to enable the deployment of fast, quiet and affordable air transportation services. Joby’s eVTOL. —Toyota Motor Corporation President and CEO Akio Toyoda.
We have instead elected to pursue private financing opportunities to support the execution of our business plan. Smith produces zero-emission vehicles that are designed to be an alternative to traditional diesel trucks, providing higher efficiency and lower total cost of ownership. —Bryan Hansel, Smith’s CEO.
As part of a comprehensive reform plan to simplify the Commonwealth of Massachusetts’ transportation system, Governor Deval Patrick is proposing a fuel tax increase of $0.19 A 2007 report issued by the TransportationFinance Commission stated: “ The cost of this neglect will be felt in our regional economy and in our way of life.
Among the review’s conclusions is that a cautious approach to the use of biofuels in surface transport is also appropriate until and unless sustainability concerns are resolved. before costs of other technologies have fallen), justifying significant investment if safety concerns can be addressed. Renewable transport.
GE and Better Place have formed a technology and financing partnership to accelerate the global deployment of electric vehicle infrastructure through collaboration in four key areas: standards-based technology development; battery financing; joint fleet electrification programs; and consumer awareness. GE’s WattStation.
Speaking this week at the Bloomberg New Energy Finance conference in New York, Total SA’s chief energy economist, Joel Couse, forecasted that EVs will make up 15 to 30 percent of global new vehicle sales by 2030. Oil demand for transportation fuel see its “ demand will flatten out ,” after 2030, Couse said. Maybe even decline. ”.
Reducing the cost of electric vehicles. 10,000/KWh with an increase in cap from 20% to 40% of the cost of the vehicle from 11th June 2021, thus enabling the cost of Electric two-wheelers at par with that of ICE two-wheeler vehicles. The demand incentive for electric two-wheelers has been increased to Rs. 15,000/KWh from Rs.
The first phase of the project is supported and financed by half by the Swedish Transport Administration and the EU. As both the size and cost of batteries decrease, battery operation becomes a very exciting alternative to traditional fuels for shipping, as emissions to air can be completely eliminated.
Under the WEO 2011 central scenario, oil demand rises from 87 million barrels per day (mb/d) in 2010 to 99 mb/d in 2035, with all the net growth coming from the transport sector in emerging economies. Oil and the Transport Sector: Reconfirming the End of Cheap Oil. World transportation oil demand by mode in the New Policies Scenario.
AFIG grants are an annual solicitation, providing financial incentive for a variety of transportation projects with the result of reducing air emissions in Pennsylvania. The Act 13 Natural Gas Vehicle grants are financed by impact fees paid by natural gas operators. This year, AFIG grants focused on medium- to light-weight vehicles.
Sorghum will extend the ethanol production season by as many as 60 days or more, according to most experts, thereby expanding fuel supplies and lowering the cost of financing mill construction.
Latest data shows that the EU imports 53% of its energy at a cost of around €400 billion (US$454 billion), making it the largest energy importer in the world. 94% percent of transport relies on oil products, of which 90% is imported. —Maroš Šef?ovi?, the Vice-President responsible for the Energy Union.
A new study by Bloomberg New Energy Finance (BNEF) forecasts that sales of electric vehicles will hit 41 million by 2040, representing 35% of new light duty vehicle sales worldwide. Lithium-ion battery costs have already dropped by 65% since 2010, reaching $350 per kWh last year. Although some 1.3
The researchers also found that a binding fuel economy standard, combined with a cap-and-trade (CAT) policy, increases the cost of meeting the GHG emissions constraint by forcing expensive reduction in passenger vehicle gasoline use, displacing more cost-effective abatement opportunities.
Clean Energy’s Zero Now program makes the cost of leasing or purchasing a new natural gas heavy-duty truck equal to the price or even lower than that of the same truck equipped with a diesel engine. Kenan Advantage Group will be deploying its natural gas tractors in the company’s Merchant Gas Group that transports industrial gases.
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