🌆 Infra Futures #18

Happy Monday 👋

At COP29, global port leaders pledged to enhance climate resilience and adaptation measures for port systems. Eco Wave Power received approval to install the US’s first onshore wave energy system at the Port of Los Angeles, which will be operational by Q1 2025. The system aims to harness wave motion for renewable energy generation, advancing its role as a viable power source. In Delhi, severe air pollution levels led to a ban on most construction and demolition activities. The European Investment Bank (EIB) committed $345M to improve Armenia's transport and social infrastructure. Additionally, LuxWall raised $51M in Series B funding, led by Climate Investment and Barclays Sustainable Impact Capital, to reduce energy use and carbon emissions in buildings.

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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🏗️ Energy Infrastructure

🌊 US's First Onshore Wave Energy Project Gets Green Light. Eco Wave Power secured the final permit to install an onshore wave energy system in the Port of Los Angeles, marking a first for the US and expected to be operational by Q1 2025. The system will harness wave motion to generate renewable energy, advancing its potential as a mainstream power source.

⚡ Ukraine's Energy Infrastructure Devastated by Russian Attacks. Russian attacks have destroyed 65% of Ukraine's energy production capacities, leaving the nation facing a harsh winter, and risking further displacement and humanitarian crises. The UN warns of the critical need for aid to support vulnerable populations amid escalating psychological and physical tolls.

🔒 Offshore Wind Industry Unites to Strengthen Cybersecurity. DNV and Siemens Energy have launched a joint project to provide cybersecurity guidance for offshore wind, addressing growing threats to the sector. The initiative aims to standardize practices and strengthen offshore wind supply chain resilience.

🚘 Transport Infrastructure

⛵ COP29 pledge aims to build climate resilience in port systems. The COP29 pledge brings together global port actors to highlight the importance of building climate resilience and adaptation measures for port systems.

🚆 Hitachi and Nvidia Launch AI Platform for Rail Infrastructure. Hitachi Rail and Nvidia launched HMAX, an AI-powered digital management platform, to improve trains, signaling, and infrastructure management.

🛣️ Philippines secures $2.8bn funding for major motorway projects. The Philippines secured nearly $2.8B in loans to fund the construction of a 26-kilometer motorway along one of the country's busiest corridors.

🏛️ Buildings

🏗️ Construction Work Banned in Delhi Due to Severe Air Pollution. New restrictions have been imposed in Delhi, banning nearly all forms of construction and demolition work due to severe air pollution levels described as 'severe plus' smog.

🏙️ South Korea will finalize leading districts for urban reconstruction in five cities. Five cities in South Korea are finalizing proceedings ahead of announcing the first districts for urban reconstruction. This initiative will provide regulatory benefits to 26,000–39,000 households, with Bundang leading in competition and public contributions as the policy aims to modernize aging urban areas.

🏫 Social Infrastructure

👥 EIB to Invest $345M in Armenia's Transport and Social Infrastructure Development. The European Investment Bank (EIB) signed agreements totaling $345M for the development of transport and social infrastructure in Armenia.

💰 EIB finances $524M for Helsinki Hospital. The European Investment Bank (EIB) approved a $106M tranche of funding for the Laakso hospital complex in Helsinki, bringing the total amount loaned to $524M for the project.

🛠️ 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.

🌳 Egypt Champions Green Jobs and Skills Development at COP29. Egypt's Minister Rania Al-Mashat, at COP29, spotlighted green job creation as a cornerstone of the global climate agenda. Emphasizing the critical need for skill development in renewable energy, sustainable agriculture, and circular economy sectors, Al-Mashat called for equitable climate finance to enable the Global South to bridge employment and sustainability gaps. Her address underscored the transformative potential of green skills in fostering economic resilience and environmental sustainability.

🏢 University of Tennessee Secures Funding for Green Jobs Initiative. The University of Tennessee, Knoxville, has been awarded a $750,000 grant for East Tennessee Works, a regional green jobs initiative focused on Knoxville’s inner-city and rural Southern Appalachian communities. Over the next three years, the program aims to place 5,000 East Tennesseans into green economy jobs by collaborating with community partners, industry, labor organizations, and educational institutions to provide training in advanced manufacturing and green construction.

🔋 Newcastle Energy Hub to Create Thousands of High-Impact Green Jobs. A new energy hub in Newcastle, led by Britishvolt, is set to create over 2000 green jobs, revolutionizing the local economy. The project focuses on advanced battery production, supporting the UK’s clean energy goals while driving job growth in manufacturing, technology, and sustainability. By prioritizing workforce development and renewable innovation, this initiative underscores the transformative potential of green technologies to generate sustainable employment opportunities and bolster regional economic 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.

💰 Infra Deals

💰 LuxWall Raises $51M in Series B Funding. LuxWall, a company focused on reducing energy consumption and carbon emissions from buildings, closed a $51M Series B funding round led by Climate Investment and Barclays Sustainable Impact Capital.

🤝 Raleigh-based McAdams acquires Florida engineering firm. McAdams, a design and engineering firm headquartered in Raleigh, acquired AVID Group, a civic engineering firm based in Florida.

📈 Relevant Industrial Acquires Control Specialists. Relevant Industrial, LLC, a provider of industrial equipment and services, acquired Control Specialists, LLC.

📈 White Cap Acquires Midstream Supply & Rental. White Cap, a leading distributor of construction supplies and safety products, acquired Midstream Supply & Rental.

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Thank you for reading. Have a great week ahead!
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