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Bison Low Carbon Ventures Inc. announces Mizuho Bank's investment in Alberta CCS projects.
Mizuho, Japan's third-largest bank, is investing through its Transition Investment Facility to support CCS technology implementation and deployment.
Mizuho's investment aims to co-create value and contribute to environmental sustainability by supporting Bison's CCS projects in Alberta.
Bison is developing the Meadowbrook CCS Hub Project (MCSH Project) near Edmonton, targeting a storage capacity of 3 million tons of CO2 per annum.
The MCSH Project will contribute to Canada's and Alberta's 2050 carbon neutral goals and support industries in reaching decarbonization targets.
Mizuho's investment includes participation in the North Drumheller CCS Project and other Bison-developed energy transition initiatives.
The Science Based Targets initiative (SBTi), a leading watchdog for corporate climate goals, approved the use of carbon credits to reduce emissions from value chains, known as Scope 3 emissions.
This decision is expected to energize the voluntary carbon market, which has faced controversies and challenges.
SBTi's new guidance allows for the use of credits beyond residual emissions, marking a shift from previous guidelines.
SBTi will not validate the quality of carbon credits but will provide clear access to rules for organizations that validate credits.
Investors are increasingly seeking validation of emission-cutting plans by SBTi, with over 5,000 companies and financial institutions having their plans approved so far, and this number is growing rapidly.
EverWind Fuels, based in Halifax, Nova Scotia, completed the Front-End Engineering Design (FEED) and Front-End Loading Engineering (FEL-3) for its Phase 1 Green Hydrogen to Green Ammonia project in Point Tupper, Nova Scotia.
The FEED completion, involving over 110,000 hours of engineering, is a significant milestone and the first announced completion for a large-scale green hydrogen and green ammonia production facility in North America.
The project will use cutting-edge PEM electrolyzers and ammonia synthesis technology from Casale S.A. to convert water and energy primarily from wind farms into green hydrogen and green ammonia, with a capacity of 240,000 tonnes per annum of green ammonia in the first phase.
The Project meets global green fuel requirements and has been pre-certified by CertifHy™, contributing to economic and environmental benefits in the region.
The completion of FEED paves the way for construction to begin later this year, with production expected to start in 2026.
DG Fuels selected Johnson Matthey (JM) and bp's Fischer Tropsch (FT) CANS™ technology for its first sustainable aviation fuel (SAF) plant in Louisiana, USA.
The plant will have a capacity of 13,000 barrels per day, capable of producing enough SAF for over 30,000 transatlantic flights annually after blending to 50%.
DG Fuels has secured offtake agreements with Delta Air Lines and Air France-KLM and has a strategic partnership with Airbus to scale up SAF globally.
The project is part of Catalyst Technologies' initiatives, with JM and bp as partners for future SAF production plants across the United States.
The SAF will be produced from waste biomass, particularly sugar cane waste, with the FT CANS technology converting synthesis gas to synthetic crude for SAF production.
The plant is expected to start production by 2028 and aims to contribute significantly to reducing aviation emissions.
Brightmark RNG Holdings LLC completes the Eloy Renewable Natural Gas (RNG) center in the US Southwest, producing RNG from dairy manure using anaerobic digestion technology.
The Eloy Circularity Center operates lagoon anaerobic digesters at Caballero Dairy in Eloy, Arizona, converting animal manure into RNG, fertilizer, and water for recycling in agricultural and energy systems.
The project is a joint venture between Chevron U.S.A. Inc. and Brightmark Fund Holdings LLC, focusing on RNG projects capturing methane for beneficial use as pipeline fuel.
The Eloy RNG project aims to reduce greenhouse gas emissions by harnessing solar heating, equivalent to planting over 37,000 acres of forest annually.
The project benefits the environment, creates jobs, enhances soil stabilization, and mitigates odors at Caballero Dairy.
Chevron emphasizes the importance of renewable natural gas projects in creating lower carbon-intensity solutions for transportation and industry.
The Eloy RNG project is the joint venture’s first initiative in the Southwest and contributes to Brightmark's nationwide system of RNG projects, reducing carbon emissions through anaerobic digestion technology.
Toyota Ventures, the venture capital arm of Toyota, announced two new $150 million funds: Toyota Ventures Frontier Fund II (TVFF II) and Toyota Ventures Climate Fund II (TVCF II), bringing their total assets under management to over $800 million.
The funds will focus on investing in startups developing disruptive technologies and solutions in areas like AI, robotics, mobility, cloud, quantum computing (TVFF II), and climate change, environmental sustainability, renewable energy, and hydrogen solutions (TVCF II).
Toyota Ventures has already invested in over 75 startups across various sectors since its founding in 2017, with portfolio companies in North America, Europe, the Middle East, and Asia-Pacific.
Toyota Ventures aims to leverage Toyota's global network, technical expertise, and partnerships to assist startups beyond just providing capital, offering guidance in product development, business scaling, fundraising, and marketing.
Nexamp, a solar developer, raised $520 million in a capital raise led by Manulife Investment Management, along with existing investors Diamond Generating Corporation and Generate Capital.
The investment will be used to expedite the deployment of Nexamp's national project pipeline, accelerate expansion and developer partnerships in new and existing markets, and fuel the growth of its generation and consumer-driven offerings.
This investment reflects the growing demand for renewable power and recognition of the need for both utility-scale infrastructure and reliable distributed power solutions in the clean energy transition.
Nexamp's unique business model focuses on every aspect of the solar asset lifecycle, from development to operations and customer engagement, delivering clean energy and creating jobs in the communities it serves.
Arcadia, a global utility data and community solar platform, has closed a growth round, raising $50 million to support its market-leading community solar program and fuel product innovation leveraging AI.
The round includes a new equity investor, Macquarie Asset Management, joining existing investors such as Energy Impact Partners, J.P. Morgan Asset Management, BoxGroup, G2 Venture Partners, Camber Creek, Triangle Peak Partners, and Broadscale Group.
Concurrent with the growth round, Arcadia closed a $30 million credit facility with J.P. Morgan, providing financing flexibility at a lower cost of capital, alongside an amendment to its existing facility with TriplePoint Capital.
In 2023, Arcadia achieved milestones such as reaching 2 gigawatts (GW) under management. The financing aims to support continued growth and innovation across business lines in 2024 and beyond.
Source: BloombergNEF
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