🌞 Energy Futures #50

Happy Monday 👋

The energy sector is seeing significant advancements in both renewable and traditional energy projects. Microsoft's $9B initiative aims to develop 5GW of renewable energy in the US, while PG&E secured a $15B loan for climate resilience infrastructure. Shell’s $5B deepwater project in Nigeria seeks to enhance oil and gas production. Additionally, a breakthrough in thermal energy storage could improve energy efficiency, while ongoing US-China trade tensions are impacting the supply of critical minerals, posing challenges for clean energy development. These efforts reflect a growing push for energy innovation and infrastructure investment. 

What's new?

HolonIQ’s new Green Skills Map and Workforce section reveal industry-wide sustainability skills and jobs, as well as workforce development initiatives, supporting upskilling for a sustainable economy.

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🌅 New Energy

🌎 Microsoft's $9B Clean Energy Initiative. Microsoft partnered with Acadia Infrastructure Capital to launch a $9B Climate and Communities Investment Coalition aimed at developing 5GW of renewable energy in the US.

⚡ Vast Hydrogen Reserves Beneath Earth Could Power Us for 200 Years. Scientists discovered vast reserves of hydrogen gas buried beneath the Earth's surface that could potentially provide enough energy to power the world for centuries and break our dependence on fossil fuels.

🌱 Breakthrough in green hydrogen production. Smoltek Hydrogen's breakthrough solution, validated by Dr. Felix Büchi, reduces iridium usage while maintaining performance, enabling more efficient green hydrogen production. This innovation is expected to lower costs and improve sustainability, driving the transition to a low-carbon economy.

🔌 Utilities

🔋 Breakthrough in thermal energy storage material. Researchers developed a new 'trimodal' material that can store large amounts of thermal energy by combining three distinct storage modes - latent, thermochemical, and sensible. This eutectic mixture of boric and succinic acids shows high reversible energy uptake and stability over many cycles.

🌍 COP29: 58 Nations Commit to Enhancing Energy Storage and Grid Infrastructure. At the United Nations COP29 climate summit, 58 out of nearly 200 participating nations officially committed to enhancing energy storage and grid infrastructure, marking significant strides towards sustainability.

🚄 SunTrain aims to transport renewable energy via battery trains. SunTrain is exploring the use of battery systems to transport energy across railways, aiming to enable more flexible and efficient energy distribution, addressing challenges related to grid infrastructure and storage. By using railways as a platform for energy transport, the project could significantly improve energy access and sustainability.

⛽ Oil & Gas

⛽ Shell Approves $5B Deepwater Project in Nigeria. Shell confirmed the advancement of a $5B deepwater oil and gas project offshore Nigeria. This initiative is set to boost production in the region, utilizing cutting-edge technology for resource extraction.

🔥 Pakistan Faces Shocking 850% Surge in Gas Prices as Inflation Soars. Pakistan is experiencing a staggering 850% increase in gas prices over the past four months, along with surging electricity tariffs under the IMF program, driving inflation higher.

🌍 ADNOC and EnBW Sign Long-Term Low-Carbon LNG Supply Deal. ADNOC, the Abu Dhabi National Oil Company, and EnBW, a German energy company, signed a 15-year agreement for ADNOC to supply 0.6 million tons per annum of low-carbon liquefied natural gas from its Ruwais project.

💎 Mining and Metals

⚔️ US-China Trade War: Impact on Critical Minerals Supply and Clean Energy. The ongoing trade tensions between the United States and China are impacting the supply of critical minerals, leading to rising costs, supply chain disruptions, and potential challenges for clean energy innovation.

🌍 New Device Produces Ammonia from Air, Reducing Carbon Emissions. Researchers at Stanford University and SLAC National Accelerator Laboratory developed a device that produces ammonia directly from air using a mesh and sunlight, aiming to lower emissions associated with synthetic fuels.

🌳 Brazil Cracks Down on Illegal Amazon Gold Mining with Forensic Technology. Brazil is using forensic technology to combat the illicit gold trade in the Amazon region. The technology helps trace the origin of gold, even after it has been melted from different sources.

🛠️ Skills and Workforce

HolonIQ is now tracking reskilling and upskilling initiatives critical in bridging workforce gaps. Impact industries are rapidly evolving, fueled by technological advancements, decarbonization, geopolitical dynamics, and socio-economic factors. To that extent, these sectors require considerable workforce/professional development initiatives to enhance workers' capabilities, boost economic growth, and promote social well-being. Read on for this week’s insights, and discover more in HolonIQ's latest Skills newsletter.

🚗 The Metropolitan Education District (MetroED) has received nearly $1 million in funding for its Silicon Valley Career Technical Education (SVCTE). The grant, part of the K12 Strong Workforce Program, will help community colleges expand career technical education and workforce training, preparing students for high-wage employment in sustainable industries such as EV technology and clean diesel technologies.

🛠️ Kinetic Green Energy and Power Solutions has signed a Memorandum of Understanding with Vishwakarma Institutes and University. This initiative aims to advance concept development, skill-based training, and education. The partnership will provide hands-on training, practical exposure, and real-world experience, while VI&U will adapt its curriculum to meet industry needs.

💰 The Albanese and Allan Labor Governments have allocated $50 million to launch the Melbourne Polytechnic Future of Housing Construction Centre of Excellence. This center will focus on advanced construction training and Modern Methods of Construction, aiming to enhance workforce productivity and serve as a hub for applied research in the sector.

HolonIQ has launched the Green Skills Map, an open-source framework initiated for cataloging, evaluating, and contextualizing the different components of the rapidly expanding field of green jobs. This comprehensive taxonomy will serve as a resource for understanding the full spectrum and complexity of green skills required across various sectors, thereby enabling a cohesive approach toward achieving net zero and decarbonizing the global economy. Green Skills Map spans 11 areas, 54 sub-areas, and 243 green skills clusters. A snippet of the map covering four areas has been included above. Explore the full map on greenskills.org.

💰 Energy Deals

🌎 PG&E secures $15B loan for climate projects. PG&E, a utility company, secured a record $15B loan from the U.S. Energy Department to fund infrastructure projects aimed at combating climate change and enhancing the electrical grid.

🌞 Neoen secures $1.4B debt financing for 1.3GW renewables. French renewable energy company Neoen secured $1.4B in debt financing to fund an additional 1.3 gigawatts of wind, solar, and energy storage projects in Australia.

🔌 EVgo secures $1.25B loan to build 7,500 EV charging stations across the USA. EVgo, an electric vehicle charging infrastructure provider, secured a $1.25B loan from the US Department of Energy to finance the construction of 7,500 public EV charging stations across the United States.

💰 rPlus Energies Secures $304M in Financing. rPlus Energies secured two major financing milestones, raising $304M in project financing for its solar projects and an additional $100 million from a strategic investor to further develop its renewable energy portfolio.

🔋 Grenergy Secures $299M Financing for Chilean Solar-Battery Project. Grenergy secured $299M in financing from BNP Paribas and other lenders for the third phase of its Oasis de Atacama solar battery project in Chile.

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