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ClearFlame Engine Technologies secures $17M in Series A financing

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ClearFlame Engine Technologies , a startup developing net-zero engine technology ( earlier post ), has secured $17 million in Series A financing, which will enable commercialization of the company’s innovative engine technology for the long-haul trucking, agriculture and power generation sectors.

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Universal Hydrogen secures additional $62M in financing to accelerate first test flight of hydrogen-powered regional aircraft to 2022

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Together, these will provide regional operators with unit economics that are equivalent or better than those of conventional jet fuel-powered variants of the aircraft. If we want to decarbonize the industry on the timeframe of the Paris Agreement, the world’s narrowbody airliner fleet has to become hydrogen-powered starting in the 2030s.

Hydrogen 397
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IEA: nuclear power can play a major role in transition to low emissions energy systems; Russia, China leading on new reactor starts

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As the world contends with a global energy crisis, nuclear power has the potential to play a significant role in helping countries to securely transition to energy systems dominated by renewables, according to a new special report by the IEA. However, a new era for nuclear power is by no means guaranteed.

Russia 458
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AMPLY Power saves up to 40% on energy costs for Tri Delta Transit electric buses

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Charging-as-a-service provider AMPLY Power is managing the charging of electric buses for Eastern Contra Costa Transit Authority, which is operating under the name Tri Delta Transit. This service can also provide debt financing or secure grant funding to reduce capital expenditures and implement resiliency plans as needed.

Energy 481
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DOE closes on $504M loan guarantee for world’s largest clean hydrogen and energy storage project

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The loan guarantee will help finance construction of the largest clean hydrogen storage facility in the world, capable of providing long-term low-cost, seasonal energy storage, furthering grid stability. ACES Delta is a joint venture between Mitsubishi Power Americas and Magnum Development.

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MagREEsource secures €5M in financing; opening first pilot magnet recycling facility in Grenoble

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MagREEsource, a 2020 spin-off of the CNRS-Institut Néel that is commercializing processes for recycling rare-earth magnets and then remanufacturing new magnets from the recycled powders, has secured €5 million in financing and has opened its first pilot facility in Grenoble, with a capacity of 50 tons by 2023.

Financing 243
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Octillion Power Systems debuts new EV battery-leasing plan

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Octillion Power Systems, a global provider of advanced lithium-ion storage systems for electric mobility ( earlier post ), announced a new demonstrator program for battery-leasing that allows batteries to be leased to fleet customers when they purchase vehicles. —Paul Beach, president, Octillion Power Systems.

Powered 307