"JPMorgan also signed a deal with Charm Industrial, a carbon storage company that converts excess organic material such as corn stover — the stalks, leaves and cobs that remain in fields after the corn harvest, and which would otherwise decay and release carbon dioxide into the air — into a bio-oil and then put that oil into the ground in abandoned oil wells. The deal with Charm aims to remove and store the equivalent of approximately 28,500 metric tons of carbon dioxide over five years."
An American Oil Hub Is Pivoting to Offshore Wind
"The number of active projects show that the Gulf's offshore expertise, earned through decades of oil and gas operations, translates well to supporting wind farms currently under construction. Out of about 1,200 contracts signed by US companies for offshore needs like survey work, electric substations and cables, companies in the Gulf and the South have scored 23% of the total, according to a tally kept by the industry group Business Network for Offshore Wind."
Exxon Joins Hunt for Lithium in Bet on EV Boom
"Lithium production would also diversify Exxon’s portfolio and expose it to a rapidly growing market. The company is positioning other parts of its business to accommodate electric vehicles. Exxon executives have said many of its chemical products supply EV manufacturers, whose cars are made with plastics and other petroleum products."
Climate tech startup led by former Nike sustainability leader raises cash
"In the Pacific Northwest alone, there are multiple startups in the field. Muir AI, Earth Finance, Scope 5, and Carbon Direct focus on carbon accounting and reductions strategies, and some additional services. LevelTen Energy and Ever.green aid companies in forging contracts with clean energy producers."
Italy’s Enel to invest more than $1 bln in Oklahoma solar panel factory
Nichola Groom of Reuters reports that Enel is investing more than $1 billion into building a solar panel factory in Oklahoma. “Enel’s U.S. manufacturing arm, 3Sun USA LLC, selected the 300-acre site in Oklahoma because it has water and power utilities and a workforce in the region that can immediately support its large factory.” Read...
$14 Billion Deal to Create Mega-Pipeline Company
"The proposed tie-up would be by far the biggest U.S. energy deal announced so far this year. Some analysts have said the U.S. oil-and-gas sector is ripe for major corporate transactions this year, after energy prices surged last year and left companies with a large windfall of cash. In Oneok’s case, much of the cash portion would be financed through a debt offering, it said."
Clean energy startup Modern Hydrogen, previously known as Modern Electron, raises $32.8M
"The startup has pilot projects planned with NW Natural — Oregon’s largest natural gas utility — and another utility that Pan couldn’t name, but his hints suggest it’s NextEra Energy. Modern Hydrogen plans to ship its demo reactors, which will be the size of half a shipping container, to the utilities by the third-quarter of this year."
NuScale in talks to build SMR plant in S.Korea: NuScale CEO
Jae-Fu Kim of The Korea Economic Daily reports that NuScale is in talks to build a small modular reactor (SMR) plant in South Korea. “The NuScale Power Module is built based on pressurized water-cooled reactor technology and can supply power for electrical generation, district heating, desalination, commercial hydrogen production and other process heat applications, according...
The Most Valuable U.S. Power Company Is Making a Huge Bet on Hydrogen
"NextEra is placing its wager as it becomes increasingly challenging to develop renewable-energy projects. Federal and local permitting for such projects is time-consuming, supply-chain snarls have slowed progress, and opposition is mounting in communities around the country."
Ultra Safe Nuclear Corporation, Hyundai Engineering, & SK ecoplant Sign MOU for Clean Hydrogen Production
BusinessWire reports that Ultra Safe Nuclear Corporation, Hyundai Engineering, and SK ecoplant have agree to develop clean hydrogen with micro nuclear power. “The ‘Hydrogen Micro Hub’ is a facility that produces hydrogen by applying a high-temperature electrolysis process of solid oxide electrolysis cells (SOEC) to the electricity and high-temperature steam generated by USNC’s Micro-Modular™ Reactor...