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Austin Energy explores potential game changer for geothermal energy in Texas

Austin Energy explores potential game changer for geothermal energy in Texas November 14, 2024 Continuing as a leader in clean energy innovation, Austin Energy is partnering with Exceed Energy Inc. to pilot a first-of-its-kind advanced geothermal project near its Nacogdoches biomass-generating facility. The pilot is expected to be online and producing carbon-free electricity in 2025 and could signal the next green energy innovation in Texas. With new technology and exciting opportunities to scale up energy production, the geothermal effort has the potential to change the energy landscape in Texas and create a more reliable pathway to a cleaner, greener grid. While Austin Energy is already the most environmentally sustainable utility in Texas, far exceeding statewide and national averages for carbon-free energy, it always seeks new ways to provide clean, reliable energy to the grid. “Geothermal technology for energy generation holds great promise and we are excited to advance innovation
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Tokamak Energy raises $125m to commercialize transformative fusion and magnet technologies

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Tokamak Energy raises $125m to commercialize transformative fusion and magnet technologies : PRINCETON, NJ , Nov. 19, 2024 /PRNewswire/ -- Tokamak Energy has raised $125 million to accelerate ambitious plans to commercialize fusion energy and grow its transformative high temperature superconducting (HTS) technology solution, TE Magnetics. The round was co-led by East X Ventures and Lingotto Investment Management with participation from new investors including Furukawa Electric Company, British Patient Capital, global maritime company BW Group and U.S.-based Sabanci Climate Ventures. The investment from new strategic partners alongside existing shareholders is recognition of the world-class talent and expertise at Tokamak Energy, the only private fusion company with more than 10 years' experience designing, building and operating tokamaks. It brings the total raised since forming as a spin-out from UK Atomic Energy Authority in 2009 to $335m , comprising $275m from p
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Rawbank and Vitol Invest $2 Million in Two Cookstove Projects in the DRC, Aiming to Reduce 6 Million Tonnes of CO₂ over 10 Years

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Rawbank and Vitol Invest $2 Million in Two Cookstove Projects in the DRC, Aiming to Reduce 6 Million Tonnes of CO₂ over 10 Years : November 20, 2024 04:00 AM Eastern Standard Time KINSHASA, Congo--( BUSINESS WIRE )--Rawbank, the leading bank in the DRC, announces a historic $2 million investment in two cookstoves projects in partnership with Vitol, aiming to reduce 6 million tonnes of CO₂ over ten years. As COP29 opens in Baku, with strengthened commitments from multilateral development banks to mobilise $120 billion a year in climate finance by 2030, this project marks a turning point to maximise environmental and social impacts in Africa. This commitment by Rawbank illustrates how private banks can play a decisive role in the transition to a sustainable economy, by mobilising resources for projects with a high environmental impact and supporting global climate goals. A pioneering governance model in the DRC for climate finance In 2024, Rawbank is introducing a new governance model in
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LG Chem and ExxonMobil sign MOU for lithium offtake

LG Chem and ExxonMobil sign MOU for lithium offtake : Offtake agreement for up to 100,000 tons of lithium carbonate Aims to strengthen the U.S. critical mineral supply chain Contributes to domestic energy security, manufacturing, jobs and emission reductions Lithium production contingent on supportive regulatory frameworks, among other factors November 20, 2024 06:00 AM Eastern Standard Time SPRING, Texas & SEOUL, South Korea--( BUSINESS WIRE )--Exxon Mobil Corporation (NYSE: XOM) and LG Chem have signed a non-binding memorandum of understanding (MOU) for a multiyear offtake agreement for up to 100,000 metric tons of lithium carbonate. The lithium will be supplied from ExxonMobil’s planned project in the U.S. to LG Chem’s cathode plant in Tennessee, which LG Chem expects to be the largest of its kind in the U.S. “America needs secure domestic supply of critical minerals like lithium,” said Dan Ammann, president of ExxonMobil Low Carbon Solutions. “ExxonMobil is proud to lead the wa
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Willis Sustainable Fuels Selects McDermott for Sustainable Aviation Fuel Facilities in the UK

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Willis Sustainable Fuels Selects McDermott for Sustainable Aviation Fuel Facilities in the UK : HOUSTON , Nov. 20, 2024 /PRNewswire/ -- McDermott has been awarded a master services agreement (MSA) by Willis Sustainable Fuels (UK) Limited (WSFL) for sustainable aviation fuel (SAF) facilities in the UK. Under the scope of the agreement, McDermott will perform early engineering, procurement and construction (EPC) related services for the facilities. The initial phase of the agreement is the early engineering of a planned SAF facility in Teesside with capacity of producing 50,000 litres per day of SAF. The project is supported by the UK Government's Advanced Fuels Fund. The intent is for the parties to enter a sole-source negotiation of the EPC scope in 2025. WSFL intends to deploy technology which produces next-generation SAF, either Biogas-to-Liquid (BtL) or Power-to-Liquid (PtL), depending on the feedstock. "Our partnership with McDermott on one of the UK's most
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AMPYR Energy USA Announces Power Purchase Agreements for Two Utility Scale Solar Projects in South Carolina

AMPYR Energy USA Announces Power Purchase Agreements for Two Utility Scale Solar Projects in South Carolina : November 20, 2024 08:00 AM Eastern Standard Time LONG BEACH, Calif.--( BUSINESS WIRE )--Today, AMPYR Energy USA ("AEUSA") announced the signing of long-term power purchase agreements for two projects totaling 195 peak megawatts (MWp) of utility scale solar energy generation in South Carolina. The PPAs were executed with Duke Energy and include four hours of energy storage for one of the projects. The execution of these contracts further demonstrates AMPYR Energy USA’s commitment to the US market and the Southeast region. These projects advance the company’s goal to strengthen and grow its US renewable energy project pipeline. Both projects will have a positive impact on the local economy by creating a significant number of construction jobs and also contributing to the local tax base for more than thirty years over their operating life. “AMPYR Energy USA is proud to b
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Aquaria Raises $112M to Bring Sustainable Water from the Sky to Communities and Cities Around the World

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Aquaria Raises $112M to Bring Sustainable Water from the Sky to Communities and Cities Around the World : Over 2 billion people lack access to safe drinking water Investors include Mistletoe, Soma Capital and more NEW YORK , Nov. 20, 2024 /PRNewswire/ -- Aquaria , the company building communities and cities supplied with water from the sky, today announced it has secured $112 million to build the future of water infrastructure. Investors include Mistletoe, Ciri Ventures, Soma Capital, HF0, Bow Capital, Umami Capital and former House Majority Leader Dick Gephardt . As part of the investment, Aquaria has signed an agreement with Upwell Water to provide $100 million to facilitate deployment of Aquaria's solutions to qualifying projects. With this new funding, the company will actively seek out sustainable atmospheric water investment projects, and continue to expand its footprint into new regions. "Our air not only supplies us with the oxygen we need to breathe, it
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