Good Morning. This is the Sunya Scoop. The newsletter that takes energy transition news and turns it into an easy-to-read email for you.
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Frontier buyers signed $58.3 million offtakes with Vaulted Deep, targeting the removal of 152,480 tons of CO₂ by 2027, with 18,321 tons expected in 2024.
Vaulted's approach promises over 10,000 years of CO₂ permanence and aims for a cost under $100 per ton.
The method involves converting carbon-rich waste into a slurry and injecting it underground, offering a scalable solution with a potential for >300Mt of annual carbon removal in the US alone.
Costs are kept low through natural CO₂ capture, minimal processing, and accessible infrastructure, driving towards <$100 per ton.
Advantek's assets and expertise enable Vaulted to execute quickly and safely, with several thousand tons already delivered.
Frontier facilitated purchases for notable companies, including Stripe, Alphabet, Shopify, Meta, and McKinsey Sustainability.
bp's Archaea Energy launches its largest modular RNG plant in Shawnee, Kansas, three times bigger than its previous AMD plant in Medora, Indiana.
The plant can convert 9,600 standard cubic feet of landfill gas per minute into renewable natural gas (RNG).
Expected to provide enough RNG to heat around 38,000 homes annually, as per the EPA's Landfill Gas Energy Benefits Calculator.
The AMD design allows faster builds of RNG plants with interchangeable components, offering three sizes: 3,200 scfm; 6,400 scfm; and 9,600 scfm.
After acquiring Archaea Energy, bp becomes the largest RNG producer in the US, with an 80% increase in global biogas supply volumes in 2023.
Archaea Energy specializes in developing, constructing, and operating RNG facilities, converting waste emissions into low carbon fuel.
The U.S. Department of the Treasury and IRS released guidance on the Sustainable Aviation Fuel (SAF) Credit under the Inflation Reduction Act (IRA)
The SAF Credit incentivizes SAF production achieving a 50% or more lifecycle greenhouse gas (GHG) emissions reduction compared to petroleum-based jet fuel, with tax credits ranging from $1.25 to $1.75 per gallon.
The guidance also introduces the 40B SAF-GREET 2024 model, providing a methodology for SAF producers to calculate lifecycle GHG emissions rates for the SAF Credit.
The updated GREET model incorporates new data and modeling of key feedstocks, processes, and emission reduction strategies like carbon capture and storage, renewable natural gas, and renewable electricity.
A USDA pilot program, part of the guidance, encourages Climate Smart Agriculture (CSA) practices for SAF feedstocks, offering greenhouse gas reduction credits for specific CSA practices used in SAF production.
The pilot program credits CSA practices like no-till, cover crop, and enhanced efficiency fertilizer for corn ethanol-to-jet, and no-till and cover crop for soybean-to-jet feedstock.
Further work is planned for the Clean Fuel Production Credit (45Z), with a new 45Z-GREET model to be developed for use with the 45Z tax credit starting in 2025.
Brookfield and Microsoft signed a global framework agreement to develop over 10.5 gigawatts (GW) of new renewable energy capacity.
The agreement aims to meet Microsoft's goal of 100% zero carbon energy purchases by 2030.
Brookfield will deliver the new renewable capacity between 2026 and 2030 in the U.S. and Europe, with potential expansion to Asia-Pacific, India, and Latin America.
The collaboration supports decarbonization efforts and contributes to the global shift to renewable energy within the cloud industry.
The agreement emphasizes not only wind and solar but also new or impactful carbon-free energy generation technologies.
Brookfield's CEO highlights the scale of this agreement, nearly eight times larger than the largest single corporate power purchase agreement (PPA) ever signed.
Microsoft aims to leverage its influence to create positive impacts on energy grids globally and achieve its carbon reduction targets.
Pine Gate Renewables secured a $650 million investment from Generate Capital, HOOPP, and HESTA.
The funding will support the development of 3 GW of clean energy infrastructure in the United States by 2025.
Generate Capital's extended partnership with Pine Gate signifies confidence in clean energy assets and Pine Gate's growth trajectory.
The investment validates Pine Gate's position as a national market leader in clean energy projects.
Pine Gate aims to accelerate its mission of providing clean energy through this landmark investment.
HOOPP and HESTA express confidence in Pine Gate's leadership and the value of investing in renewable energy.
Pine Gate Renewables, founded in 2016, has closed over $7 billion in project financing and has a significant operational and development portfolio in solar and energy storage projects.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.