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The global geothermal industry surpassed 12,000 MW of geothermal power operational, with about 600 MW of new geothermal power coming online globally, according to a year-end update by the Geothermal Energy Association (GEA). New project announcements have increased the resource under development to about 30,000 MW.
The project will build a new plant in Chattanooga to produce 30,000 metric tons per year of graphite targeted at the electric vehicle industry. Construction is expected to begin in 2023, subject to permitting and project financing, with first production targeted for 2025.
NFI Industries—a leading third-party supply chain solutions provider—is increasing its investment in electromobility solutions with its latest order of 60 Volvo VNR Electric trucks. Twenty of the trucks will be deployed as part of the Joint Electric Truck Scaling Initiative, or JETSI project. Earlier post.).
China’s State Council has published a plan to develop the domestic energy-saving and new energy vehicle industry, which includes battery-electric vehicles, plug-in hybrid vehicles and fuel cell vehicles. 2012 Chinese Auto Industry Development Report. Developing the industrial system. L/100km (40 mpg US) or less.
Groupe Renault also consider blockchain as a vector for the transformation of the automotive industry. First appearing in finance, while respecting the ownership of the data items, it allowed real-time networked transactions that are secure since there is no risk of falsification.
Among other things, we will promote the production of hydrogen on an industrial scale in Australia with German-Australian ‘Hydrogen Hubs’ using German technology and explore possibilities for cooperation within the framework of our new international funding instrument ‘H2-Global’. Co-financing of an AUS-DEU H 2 incubator for applied research.
As part of the FUREC project, RWE plans to build a pre-treatment plant in Zevenellen, Limburg, to convert non-recyclable municipal solid waste (MSW) into solid recovered fuel pellets. The CO 2 released during the hydrogen production is captured and can be stored or possibly used as a raw material by industry in the future.
Researchers at the Fraunhofer Institute for Microengineering and Microsystems IMM are developing ammonia-based systems for a mobile, decentralized energy supply in the infrastructure, transportation and industry sectors. Several of the research projects were showcased for the first time at the recent Hannover Messe.
Northvolt’s mission is to enable the future of energy by developing battery products across multiple industries. The partnership with Mälarenergi represents our first commercial deployment, showcasing how batteries can be a part of the solution of the future grid. —Emad Zand, President Energy Solutions, Northvolt.
Audi partner Global Bioenergies (GBE) has successfully carried out its first isobutene production trial at its industrial pilot site in Pomacle-Bazancourt. A production run was initiated on 3 November, resulting in the first production of isobutene—a gaseous hydrocarbon—by fermentation in an industrial environment.
In the strategic partnership, PACCAR provides autonomous-enabled vehicles as well as aftermarket parts distribution, finance and other transportation solutions. Aurora provides industry-leading self-driving technology, including hardware, software and operational services.
million in new financing. Tesla and will address a wide range of applications from audio speakers, magnetic sensors and consumer appliances to industrial motors and automotive accessory motors. Niron Magnetics , a company developing high-performance rare-earth-free iron-nitride (FeN) permanent magnets, has raised $21.3 Background.
Globally, the battery industry needs to invest at least $514 billion across the whole supply chain to meet expected demand in 2030, and $920 billion by 2035, according to a new analysis by Benchmark. Energy storage might form a relatively small piece of the overall financing required, but it is a strategically critical piece of the puzzle.
UK Prime Minister Boris Johnson confirmed that the government will accelerate the ban on the sale of new gasoline and diesel vehicles, bringing it forward by ten years to 2030, as part of a “Green Industrial Revolution.” Johnson announced the plan as part of his outline of a 10-point plan supporting the Green Industrial Revolution.
Daimler Truck supplies industry leading transportation solutions and services to customers. Both companies operate in industries that are facing major technological and structural changes. Mercedes-Benz is the world’s most valuable luxury car brand, offering the most desirable cars to discerning customers.
Increased shareholder activism, combined with global warming policies of institutional investors and NGOs, are pushing IOCs in a corner, constricting financing options for oil companies. With less financing options for IOCs, and also oilfield services, the already existing investment gap in upstream investment worldwide will only grow wider.
billion) in France-based PSA Peugeot Citroën as part of a €3-billion (US$4.13-billion) The investment also marks a strengthening and deepening of the existing industrial and commercial partnership between PSA and DFG, China’s second largest carmaker. Industrial partnership. The French State would invest the same amount as DFG.
biofuel made from cellulose, algae, duckweed, or cyanobacteria) could mitigate the current elevated risk of investing in the industry that is retarding its advance, according to a new paper by a team from the International Council on Clean Transportation (ICCT) and Johns Hopkins University. The Renewable Fuel Standard (RFS2) in the U.S.
Faced with the compelling need for more respirators, the French government asked a group of French industrial companies led by Air Liquide to study the possibility of increasing the production of respirators so as to provide 10,000 respirators in 50 days, between the beginning of April and mid-May.
POSCO Holdings recently began construction at the Yulchon 1 st Industrial Complex in Jeollanam-do (South Jeolla Province, S. POSCO Pilbara Lithium Solution, a wholly-owned subsidiary of POSCO Holdings, will be responsible for the financing, construction, and operation of the plant. Earlier post.)
Plug Power, Chart Industries, Inc. Plug Power intends to commit €160 million ($200 million), and Chart Industries and Baker Hughes each intend to commit €50 million respectively ($60 million). The Fund will exclusively finance projects in the production, storage and distribution of clean hydrogen.
The partnership across industries will be a stepping stone in bringing the hydrogen economy closer to daily lives. The partnership is part of Korea’s Ministry of Environment’s project to install hydrogen refueling stations and subsidize privately financed infrastructure projects.
to finance the development and production of low-carbon fuels and energy transition metals. However, relative to other parts of the value chain, global investment in mining of energy transition metals is lagging. TMC and LCR have agreed to a purchase and sale agreementwhereby LCR has acquired a 2.0%
The grant will provide $10 million in the first year, which will fund the consortium members, in collaboration with more than 100 partner entities, to develop a roadmap to accelerate the growth and development of geothermal, leveraging expertise, technologies, and methods from the oil and gas industry. —John Boden of SPE
The engine block is derived from a Cursor 11 commercial vehicle engine manufactured by FPT Industrial and has already served us for five years in various research projects. The research project is co-financed by the Swiss Federal Office of Energy (FOEN). The diesel engine on the Empa test facility was tuned to DME. Image: Empa.
In a first step, this hydrogen is to substitute part of the carbon in the existing blast furnaces, later on it is to be used in new direct reduction plants. It is the key to using the great potential we have in reducing CO 2 emissions in the steel industry. At its core, our climate transformation is based on the use of hydrogen.
million grant as part of its Seeding Critical Advances for Leading Energy technologies with Untapped Potential (SCALEUP) program. Niron will use this financing to advance the commercial partnerships and pilot production of its rare earth-free Clean Earth Magnet, further demonstrating its potential to replace rare earth permanent magnets.
In this sense, the aim of this technology is to transform industries by generating an exchange of goods and services without the need to include third parties, and therefore enhance procedural security.
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).
In 2010, Tesla was awarded a milestone-based loan, requiring matching private capital obtained via public offering, by the DOE as part of the Advanced Technology Vehicle Manufacturing (ATVM) program. This is another important contribution to what the Obama Administration has done to preserve and promote America’s auto industry.
The target for first delivery is the latter part of 2015. The governor will also introduce legislation to provide financial support for the infrastructure, up to $275 million, through Alaska Industrial Development and Export Authority (AIDEA) loans and bonding authorization, and $50 million in general fund dollars. —Gov.
As part of the company's turn-key service offering, Gridtractor will provide farm operators with site and project managers to assist with implementation and liaison with utility companies and electrical contractors to ensure the technology is deployed and operating efficiently.
Stolt LNGaz intends to provide natural gas to remote mining operations and other industrial customers in northeast Canada at a substantially lower cost than diesel and residual fuel oil, which are the primary energy sources today. The transaction represents an initial investment of US$ 20 million with SNG owning 50% of the venture.
Governments, including 35 industrialized countries, also agreed to a second commitment period of the Kyoto Protocol—due to expire next year— from 1 January 2013. A Standing Committee is to keep an overview of climate finance in the context of the UNFCCC. as possible, but not later than 2015. Details of this will be taken.
Vulcan Energy Resources signed a Term Sheet agreement with Nobian GmbH (Nobian) for the formation of a 50/50 joint venture over, and equity financing of, Vulcan’s Central Lithium Plant (CLP), which forms part of Vulcan’s Zero Carbon Lithium Project ( earlier post ).
The cost of generating power from renewable energy sources has reached parity or dropped below the cost of fossil fuels for many technologies in many parts of the world, according to a new report released by the International Renewable Energy Agency (IRENA). Northeast Utilities and its subsidiary NStar had agreed to buy 27.5%
As part of the deal, MEG took over a previous order of 4,000 EV taxis from a third-party and helped facilitate the delivery of these taxis with the sales value of approximately US$50 million (RMB 356 million). The EV Taxis are supplied by Geely Auto Group and the financing for the vehicles was provided locally by Sichuan Tianfu Bank Co Ltd.
Tesla’s leadership status as king of the electric vehicle sector has been established through several years of innovation and the company’s ability to influence an entire industry. Finance to discuss what is priming companies for the future, along with where they rank in terms of preparedness. Yu joined Ya hoo!
In the automotive industry, during a once-in-a century period of profound transformation, Toyota is aiming to become a mobility company that provides wide-ranging services related to transportation.
This prize, awarded by the LUTB Transport & Mobility Systems cluster and the PFA Automotive Industry and Mobilities, as part of the Solutrans Innovation Awards, was presented to the manufacturer at the Lyon Chamber of Commerce and Industry on 21 November 2017.
The main focus will be on expanding the SUV range—in particular in the A/A0 class—as well as on modernizing part of the light commercial vehicle portfolio. Investments outside production are mainly planned for the areas of development, quality assurance, sales, genuine parts supply and information technology.
ClearFlame’s technology can be used anywhere diesel engines are used today, and leverages existing infrastructure—fuel production and distribution, engine manufacturing and remanufacturing processes, and the heavy-duty parts & services industry.
Not only has financing come from company shareholders and traditional banks, but hundreds of billions of dollars have also come from junk-bond investors looking for high returns. Without the ability to finance drilling, smaller or more indebted oil companies may not have a future. by Nick Cunningham of Oilprice.com.
Our hope is that the first industrial installation of a commercial hydrogen production system can take place in the next two to three years. The research is being financed by ENGIE, ExxonMobil, Equinor, Saudi Aramco, Shell and Total Energies. We’re certain that this technology can be scaled up even further. —Harald Malerød-Fjeld.
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