🌞 Energy Futures #54

Happy Monday 👋

This week in the global energy industry, China's 'artificial sun' set a record by sustaining plasma for 1,000 seconds, a leap toward achieving limitless clean energy. Quinbrook secured $722M to develop Australia's Supernode BESS, enhancing renewable energy storage. Iraq's Midland Oil Company announced a 2-billion-barrel oil discovery, bolstering its global prominence. Meanwhile, $18.5B has been invested globally in sustainable aviation fuel, with the UK receiving $221.7M. Palmetto raised $1.2B to expand residential solar and storage systems through cost-efficient, no upfront payment options.

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.

HolonIQ's new skills newsletter is here! Get updates on emerging skills, workforce shifts, and industry insights across impact sectors. Subscribe now to stay ahead.

🌅 New Energy

☀️ China's 'Artificial Sun' Breaks Nuclear Fusion Record. A nuclear fusion reactor in China, known as the 'artificial sun', set a new record by generating a steady loop of plasma for 1,000 seconds, bringing humanity closer to achieving near-limitless clean energy.

⚛️ Nuclear Fusion Breakthrough for Clean Energy. Scientists achieved a major nuclear fusion milestone, advancing efforts toward clean, limitless energy. The breakthrough demonstrated a net energy gain from a fusion reaction for the second time, confirming its viability as a renewable energy source. This technology, which replicates the process that powers stars, holds promise for drastically reducing carbon emissions and addressing global energy demands.

⚡️ Smoltek's Breakthrough in Hydrogen Production Technology. Swedish company Smoltek developed a breakthrough technology that enables hydrogen production using only 0.1 mg of iridium per square centimeter— a significant advancement for PEM electrolyzers, reducing the reliance on rare and expensive materials and paving the way for more sustainable and cost-efficient hydrogen production.

🔌 Utilities

💰 Quinbrook Seals Record Battery Funding Deal. Quinbrook Infrastructure Partners secured a record $722M financing deal to build a massive battery energy storage system called the Supernode BESS in Australia. This large-scale project will integrate cutting-edge energy storage technology to support renewable energy infrastructure, bolster grid stability, and accelerate the region's transition to sustainable energy.

🔋 Saudi Arabia Commission Largest Battery Storage System. Saudi Arabia commissioned its largest battery energy storage system to date, with a capacity of 2 GWh, featuring 122 prefabricated storage units designed and supplied by Chinese company BYD. This significant milestone aligns with the nation’s Vision 2030 goals to diversify its energy mix and reduce dependence on fossil fuels. 

⚡️ SolaX Unveils Groundbreaking Liquid-Cooled Energy Storage System. SolaX, a leading energy solutions provider, introduced the TRENE liquid-cooled energy storage system, a revolutionary product designed for commercial and industrial applications. This innovative system combines high energy density, long cycle life, and enhanced safety features through advanced liquid cooling technology.

⛽ Oil & Gas

⛽ Midland Oil Company Discovers Major Oil Reserves in Iraq. The Iraqi state-owned Midland Oil Company, in collaboration with China's ZhenHua Oil, announced the discovery of over 2 billion barrels of oil reserves in central Iraq's East Baghdad oil field, strengthening Iraq’s position as a major global oil producer.

⛽ Sinopec's Fuling Shale Gas Field Expands Production. Sinopec, China's largest oil refiner, brought 15 new wells into operation at its Fuling shale gas field in Chongqing, boosting the field's daily gas output by 600,000 cubic meters.

🛢️ Kuwait Oil Company Uncovers 800 Million Barrel Offshore Oil Field. Kuwait discovered a significant offshore oil field, estimated to contain 800 million barrels of oil. The discovery, reported by state news agency KUNA, could enhance the country’s oil reserves and boost its production capacity.

💎 Mining and Metals

✈️ Sustainable Aviation Fuel Industry Booming with $18.5B Global Investment. The sustainable aviation fuel industry is experiencing significant growth, with global investment nearing $18.5B. The UK has secured $221.7M in funding, making it the fourth-highest recipient of investment in this sector.

🔋 Teck Resources Invests Billions to Boost Copper Production. Canadian mining company Teck Resources plans to invest up to $3.9B to expand its copper and zinc production, shifting its focus to energy transition metals after selling its coal business. The move aims to position Teck as a major player in the global copper market.

🛫 Senators Reintroduce Farm to Fly Act to Boost Sustainable Aviation Fuel. The Farm to Fly Act was reintroduced on Jan. 16, a legislative initiative that aims to support the development of sustainable aviation fuels (SAFs) by promoting the use of agricultural feedstocks in fuel production. 

🛠️ 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.

🍃 US Department of Energy Funds Non-Profits to Develop Clean Energy Workforce. The US Department of Energy’s Clean Energy Careers for All (CEC4A) program awarded up to $300,000 to seven non-profits promoting clean energy careers through STEM education, internships, and mentorship. Key initiatives include green building workshops (California Green Building Council), Zero Emission Vehicle training (EVHybridNoire), and geothermal virtual reality training (New Mexico Institute of Mining & Technology). Top performers may receive an additional $750,000 in Phase 2 funding.

📈 UNICEF and Muslim World League Launch $1.5M Green Skills Program in Pakistan. UNICEF and the Muslim World League, supported by the Special Investment Facilitation Council (SIFC), have launched a Green Skills training program in Pakistan to equip disadvantaged youth with sustainable development and digital skills. The initiative enhances employability in green sectors, building on a 14-year partnership between UNICEF and the Muslim World League. Aligned with UNICEF’s mission, it promotes education, child welfare, and economic growth, while SIFC ensures effective implementation to address youth unemployment and bridge critical skills gaps.

🌱 Cardiff Council Unveils Ambitious Green Development Plan for 2036. Cardiff Council's new “Deposit Plan” aims to create over 32,000 jobs by 2036, aligning with the city’s One Planet Strategy. The plan emphasizes sustainable growth, including low-carbon developments, energy-efficient buildings, and renewable energy expansion. It supports diverse employment opportunities by protecting existing sites and introducing new hubs in Cardiff Central Zone, Roath Basin, and other strategic areas. The initiative also prioritizes sustainable transport, active travel, biodiversity, and ecosystem resilience.

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

🔋 Charlotte Software Company Secures $1.2B for Residential Solar and Storage. Palmetto, a Charlotte-based software company, secured $1.2B in financing to enable homeowners to install rooftop solar and storage systems without any upfront investment through its LightReach plans.

⛏️ Ioneer Secures $996M Loan for Lithium-Boron Project. Australian mineral exploration firm Ioneer, secured a $996M loan from the US Department of Energy to fund its Rhyolite Ridge Lithium-Boron project, which aims to accelerate domestic production of critical minerals.

🌞 $485M USDA Grant for Renewable Energy in Southwest US. The US Department of Agriculture awarded a $485M grant to Arizona Electric Power to boost renewable energy in rural communities in the Southwest US.

💰 Western LNG Secures $150M Funding for LNG Projects. Western LNG, backed by Blackstone and advised by Latham & Watkins LLP, raised a $150M private placement to fund its Ksi Lisims LNG and PRGT projects, aiming to enhance sustainable LNG production.

🔌 Central Virginia Electric Cooperative Gets $70M for Grid Upgrades. Central Virginia Electric Cooperative Corporation received $70M from the US Department of Agriculture to connect consumers and improve power lines, with a significant portion going towards smart grid technologies.

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