Sunya

Microsoft builds first datacenters with wood to slash carbon emissions - Microsoft is constructing its first datacenters using superstrong ultra-lightweight wood to reduce reliance on steel and concrete, significant sources of carbon emissions. - The hybrid approach incorporates cross-laminated timber, a fire-resistant wood material that decreases embodied carbon footprint by 35 percent compared to steel and 65 percent compared to precast concrete. - These hybrid datacenters illustrate Microsoft's commitment to decarbonizing its operations, aiming to be carbon negative by 2030 and remove all emitted carbon by 2050. - Microsoft achieved a 6.3 percent reduction in direct emissions over three years, though indirect emissions rose significantly due to datacenter growth. - The company is implementing various strategies, including updating contract language for low-carbon materials and requiring suppliers to use carbon-free electricity by 2030. - Investments in low-carbon building materials are being increased to accelerate supply and to include innovations like hydrogen-powered steel production. - Microsoft launched a $1 billion Climate Innovation Fund to invest in companies developing climate solutions, having already committed $761 million to transformative technologies. - The fund seeks to enhance commercial availability of low-carbon materials across key areas like carbon-free electricity and advanced materials. - Microsoft is also investing in companies like Sweden’s Stegra and Boston Metal, which focus on new methods of steel production with significantly reduced emissions. - Investments in low-carbon concrete technologies include CarbonCure, which injects CO2 into concrete, and Prometheus Materials, which uses microalgae for zero-carbon cement. - Cross-laminated timber is being used in Microsoft's new datacenters, promoting its benefits as a strong and stable alternative to conventional materials. - The installation of prefabricated CLT can be more efficient and safer compared to traditional materials, despite its higher costs. - Microsoft is positioned uniquely to influence the adoption of green building technologies due to its scale and sustainability priorities. - Ongoing planning reflects the complexities of integrating low-carbon technologies into datacenter construction while aiming for a net-zero carbon future. - Microsoft's strategy emphasizes a comprehensive approach across the entire value chain to ensure the effectiveness and durability of new materials. https://lnkd.in/g8EHbvD2

Normative.io expands Nordic carbon accounting leadership with acquisition of EIVEE™ - Normative has acquired Eivee, a premier carbon accounting solution provider in Denmark. - The terms of the transaction have not been disclosed. - This acquisition strengthens Normative’s leadership in the Nordic carbon accounting market. - Integrating Eivee’s expertise and client base allows Normative to expand its market reach. - The move enhances Normative's ability to serve major corporations in Europe comprehensively. - Eivee's customers include some of Denmark's largest companies who will now have access to Normative’s platform. - Normative aims to streamline carbon emissions collection, reporting, and understanding for its new clients. - The acquisition enhances Normative’s ability to provide expert, tailored carbon guidance by region and industry. - It also reinforces Normative's commitment to localized carbon accounting solutions across Europe. - The deal addresses challenges related to the Corporate Sustainability Reporting Directive for their customers. - Normative's client base expands to include influential Danish companies. - It reinforces Normative's position in providing comprehensive carbon accounting and reduction solutions. - Normative demonstrates its capability to offer tailored, audit-ready solutions supported by expert guidance. - The acquisition furthers Normative’s mission to lead in CSRD compliance. - Eivee clients will benefit from Normative's extensive experience and robust carbon accounting platform. - Normative's in-house climate experts will provide unparalleled resources and expertise in emissions reduction. https://lnkd.in/gh_tmEpP

Mizuho invests $20 million for partial equity stake in climate fund, Pollination - Mizuho Bank and Pollination Global Holdings have formed a strategic partnership to support clients in decarbonisation efforts. - Mizuho Bank has invested US$20 million for a partial equity stake in Pollination. - Pollination is a specialist climate change investment and advisory firm established in 2019. - The partnership aims to support clients with climate and nature transition strategies, providing advisory support and investment access. - Focus areas include natural capital, biodiversity strategies, and carbon market participation. - Mizuho is committed to helping clients transform organizations and implement next-generation technologies for sustainable growth. - By combining expertise, Mizuho and Pollination will enhance client support to tackle complex climate change issues. - Pollination’s CEO highlighted Mizuho as a sophisticated partner in sustainable finance, marking the beginning of a significant strategic partnership. - The importance of finance in addressing climate change solutions, especially in Asia, was emphasized by Pollination's Executive Chair. - Mizuho's Chief Sustainability Officer underscored the necessity of providing proven strategies to clients amidst evolving sustainability challenges. https://lnkd.in/gcN82Tfn

Talen Energy Statement on FERC Order Rejecting Susquehanna ISA - Talen Energy released a statement regarding the FERC order rejecting the amended Susquehanna Interconnection Service Agreement. - The rejected agreement aimed to increase co-located load capacity at Talen's Susquehanna nuclear facility from 300 megawatts to 480 megawatts. - Talen believes FERC erred in its decision and is evaluating options focused on commercial solutions. - Talen asserts that the amendment is just, reasonable, and beneficial for consumers. - The FERC decision is expected to negatively impact economic development in Pennsylvania, Ohio, and New Jersey. - The existing agreement allows for 300 megawatts, permitting the first phases of the AWS data center campus to proceed while pursuing approval of the amendment. - Talen's co-location arrangement with AWS is presented as a solution for issues discussed at the recent FERC technical conference on large co-located load. - The company emphasizes that this arrangement offers quick service without the need for costly transmission upgrades. - Talen is exploring multiple commercial solutions to meet the demand from large loads, including various co-location models. - The firm advocates for an all-of-the-above approach to address the increasing demand from the data center economy. - Talen Energy operates approximately 10.7 gigawatts of power infrastructure across the United States. - The company is positioned to cater to the growing needs of the digital infrastructure revolution, especially with the rise of AI data centers. https://lnkd.in/gdmCaDcA

ADNOC Group and 44.01 to Scale Up Carbon-to-Rock Project Following Successful Pilot - ADNOC and 44.01 announced plans to scale up their carbon-to-rock project in Fujairah after a successful pilot. - The pilot converted 10 tonnes of carbon dioxide into rock within 100 days. - The first phase of the scale-up will inject more than 300 tonnes of carbon dioxide. - The project aims to demonstrate carbon mineralization on a commercial scale in the UAE. - The Fujairah Natural Resources Corporation and Masdar partnered in the initiative. - The pilot started in 2023, utilizing Fujairah's peridotite rock formations. - Peridotite naturally reacts with carbon dioxide to mineralize it. - Scaling up could potentially eliminate billions of tons of carbon emissions. - ADNOC's Chief Technology Officer emphasized the importance of technology in decarbonization. - 44.01 is competing for the Carbon Removal XPRIZE and is recognized as a Top 20 project. - The pilot was powered by renewable energy from Masdar. - Carbon dioxide was captured from the atmosphere, dissolved in seawater, and injected into peridotite. - ADNOC targets a carbon capture capacity of 10 million tonnes per annum by 2030. - This capacity is equivalent to removing over 2 million internal combustion vehicles from the road. - ADNOC's investment in carbon capture projects aims to reach almost 4 million tonnes per annum. https://lnkd.in/gWKc2jtA

Emeren Group and Arpinge Partner to Develop 300 MW Battery Storage Portfolio in Italy - Emeren Group Ltd announced a partnership with Arpinge to develop a 300 MW Battery Energy Storage System portfolio in Southern Italy. - This collaboration strengthens Emeren's presence in Italy's battery energy storage market, which already has a permitting pipeline of approximately 1.37 GW. - The partnership aligns with Italy's clean energy goals and accelerates the permitting and development process for energy transition. - Emeren's CEO, Yumin Liu, highlighted the importance of partnerships with top-tier investors to capture early market opportunities. - Arpinge’s CEO, Federico Merola, emphasized the role of this collaboration in supporting sustainable infrastructure and enhancing grid stability. - Emeren Group specializes in solar project development and has a significant global battery storage capacity. - Arpinge is a permanent capital vehicle dedicated to sustainable infrastructure investments, operating under ESG principles across various energy transition segments. https://lnkd.in/g4sQHqJp

SolarEdge Announces First Section 45X Credit Sale - SolarEdge Technologies, Inc. announced the sale of §45X Advanced Manufacturing Production Tax Credits for approximately $40 million. - The credits are from the sale of U.S. made inverters in the first half of 2024. - Ronen Faier, Interim CEO of SolarEdge, highlighted the impact of the Inflation Reduction Act on U.S. energy manufacturing. - The sale of tax credits marks a milestone in the §45X credit transfer market. - Ariel Porat, CFO, noted that the sale enhances cash position, strengthens the balance sheet, and allows for investment in U.S. manufacturing. - The credits were generated from inverters produced at SolarEdge's Austin, Texas facility, which met production targets. - The Austin facility produced over 500 MW of inverters in the third quarter and expects increased production in the fourth quarter. - SolarEdge's second facility in Tampa, Florida began shipping Power Optimizers in Q2 2024 and aims for a production capacity of two million per quarter. - This transaction was facilitated by the Crux Climate platform. - SolarEdge is recognized for its engineering and innovation in smart energy technology, including intelligent inverter solutions for photovoltaic systems. - The company aims to address various energy market segments with its diverse product offerings. https://lnkd.in/gMaZ9724

Volvo Cars initiates process to take full ownership of NOVO Energy - Volvo Cars has notified Northvolt AB of its intention to invoke redemption rights to acquire Northvolt's shares in NOVO Energy. - This decision follows a breach of the shareholders' agreement due to Northvolt AB's failure to meet its financing obligations. - Volvo Cars is assessing the potential impact of these developments on NOVO Energy and is exploring future scenarios to safeguard its investment. - The NOVO Energy facility may become multifunctional, with various options being considered assuming Volvo Cars achieves full ownership. - Battery production at NOVO Energy will depend on involvement from third parties or other partners. - The transition to full ownership is not expected to affect Volvo Cars' other investments or cash flow targets. - Volvo Cars maintains a diversified and resilient battery supply chain, ensuring vehicle rollout plans remain unaffected. - The company aims to engage in constructive dialogue with Northvolt regarding this matter. - This information is disclosed in compliance with the EU Market Abuse Regulation and was made public on October 30, 2024. https://lnkd.in/g2cyY4_v

Avangrid Secures Two Lease Areas in Gulf of Maine Floating Wind Auction - Avangrid has secured two lease areas in the Gulf of Maine for offshore wind development. - The lease areas OCS-A 0564 and OCS-A 0568 cover approximately 98,565 acres and 124,897 acres. - Avangrid was named the provisional winner in an auction held by the Bureau of Ocean Energy Management, with a total bid of $11.1 million. - These areas have the potential to deliver approximately 3 Gigawatts of clean energy to the New England region. - The development will support the U.S. target of 30 Gigawatts of offshore wind. - The lease areas are positioned 30 nautical miles from the shore and are favorable for floating wind technology. - Avangrid's CEO, Pedro Azagra, emphasized the company’s commitment to providing reliable, clean energy for New England. - ISO New England has projected the need for approximately 34 Gigawatts of offshore wind power by 2050 to meet energy needs and climate goals. - Avangrid has a projected offshore wind pipeline of over 5 Gigawatts on the East Coast. - Their existing projects include the Vineyard Wind 1 project and fully owned developments like New England Wind 1, New England Wind 2, and Kitty Hawk Wind South. - With these new lease areas, Avangrid has the largest offshore development portfolio in the Northeast region by acreage. - Avangrid plans to leverage Iberdrola's global expertise in floating offshore wind developments. - The company has a renewable energy portfolio generating enough power for over 2.8 million homes in the U.S. - Avangrid was selected by Massachusetts for the New England Wind 1 project in a multi-state offshore wind solicitation. - The company has been recognized as one of the top corporate citizens in the U.S. and ranked among the World’s Most Ethical Companies. - Avangrid operates in 24 U.S. states and serves over 3.3 million customers. https://lnkd.in/ggf8XjsY

Cox Enterprises Backs Socium Ventures with a Second $300 Million Fund - Cox Enterprises announced a second fund for Socium Ventures, investing $300 million and raising total managed capital to $600 million. - Socium Ventures focuses on investments in durable and compounding companies. - The firm targets investments in the range of $3 million to $25 million across various rapidly growing sectors. - These sectors include software, advanced computer tools, public sector solutions, healthcare, fintech, B2B marketplaces, and sustainability. - Socium Ventures aims to provide portfolio companies with strategic, operational support, and long-term capital. - Dallas Clement, president of Cox Enterprises, emphasized the importance of partnering with innovative thinkers for future prosperity. - Launched in June 2023, Socium Ventures leverages Cox’s extensive capital base and expertise. - The current portfolio includes companies like Carbyne, Knowde, and Crisp. - Andrew Davis, managing partner of Socium Ventures, highlighted the firm’s successful investment strategy and future ambitions. - David Yang was appointed as a Partner, marking a significant addition to the team with extensive growth technology investment experience. - Yang expressed excitement about joining Socium Ventures to support companies focused on innovation and growth. - For more details about Socium Ventures and its investments, visit their official website. - Cox Enterprises focuses on empowering future generations through leadership in broadband, automotive, and media industries. - The company has a significant presence in emerging technologies related to agriculture, renewable energy, and healthcare. - Cox Enterprises has a history of over 125 years and generates $23 billion in annual revenues. - Socium Ventures aims to build lasting partnerships with founders by supporting companies at every development stage. https://lnkd.in/gEuz4rC9