Chesapeake explores geothermal for the DoD
PLUS: Dominion's 4.6 GW solar expansion, bp's Archaea's new RNG plant, Google's dynamic electric consumption, Regent's $60mm Series A, Amperon's $20mm Series B, APA methane reduction
Eavor Inc. has been awarded a contract by the U.S. Air Force to provide geothermal energy through its Eavor-Loop™ technology to Joint Base San Antonio in Texas.
Chesapeake Energy will partner with Eavor and provide technical and operational expertise.
The Air Force Office of Energy Assurance will oversee the prototype program, focusing on extracting energy from deep hot rock using a closed-loop system to enhance defense infrastructure and ensure reliable clean energy during grid disruptions.
A feasibility study, funded by the Department of Defense, will begin immediately to characterize the geothermal resource.
The project aims to provide a constant supply of clean energy directly for the base, enhancing energy resiliency.
The partnership is seen as innovative and could serve as a model for future military bases, promoting energy independence and security.
Dominion Energy plans to increase solar power generation in Virginia to 4,600 MW to benefit from federal clean energy incentives.
The proposal involves adding six solar plants and 13 power purchase agreements with a total capacity of 772 MW.
Federal incentives are provided under the $430 billion Inflation Reduction Act, offering tax credits and direct payments for renewable energy sources like solar and wind.
The estimated cost of these projects is expected to raise the average residential customer's monthly bill by about $1.54.
Construction is anticipated to be completed between 2024 and 2026.
Dominion Energy is also progressing with its $10 billion Coastal Virginia Offshore Wind project, set for completion in late 2026.
bp's Archaea Energy starts its first renewable natural gas (RNG) plant in Medora, Indiana, converting landfill gas into RNG.
This plant reduces emissions, improves air quality, and provides renewable fuel for homes, businesses, and transportation.
It represents an industry first by streamlining and accelerating RNG plant construction.
Part of bp's plan to increase biogas supply volumes by about six times by 2030, aiming for approximately 70,000 barrels of oil equivalent per day.
The plant captures landfill gas from Rumpke's landfill and converts it to electricity, heat, or RNG, offering cleaner energy compared to fossil fuels.
The Medora plant can process 3,200 cubic feet of landfill gas per minute, sufficient to heat around 13,026 homes annually.
The Archaea Modular Design (AMD) allows for standardized, modular construction, leading to faster build times.
bp is now the largest RNG producer in the US after acquiring Archaea, enhancing its support for decarbonization goals.
Bioenergy is one of bp's strategic growth engines, aiming for substantial EBITDA and capital expenditure growth in this area by 2030.
bp plans to invest up to $8 billion more in transition growth businesses this decade, targeting a significant share of its capital expenditure by 2025 and 2030.
Google data centers have developed a demand response system to reduce electricity consumption during high-stress periods on the power grid.
This system shifts non-urgent compute tasks to differe
nt times and locations without affecting Google's everyday services.
Google aims to run its data centers efficiently and has used carbon-intelligent computing to align energy consumption with carbon-free energy availability.
Demand response is seen as a crucial tool for grid operations, reducing the need for new carbon-intensive resources and supporting renewable energy growth.
Google's approach involves activating an algorithm to limit non-urgent tasks at data centers when alerted by a grid operator about supply constraints.
Some tasks can be rerouted to data centers on different power grids, all without the need for additional hardware or impacting Google's services.
Google has tested this demand response approach in Europe, Asia, and the U.S., helping support grid reliability during extreme events.
The company plans to continue improving this capability and collaborating with partners to maximize its impact.
Collaboration with partners and policy makers is also aimed at
incentivizing large energy users to operate more flexibly, making grids more efficient and clean.
Regent, a startup developing electric seagliders for transportation, secured $60 million in a series A round of venture funding.
The funding round was co-led by 8090 Industries and Peter Thiel’s Founders Fund, with participation from Japan Airlines Innovation Fund and Point72 Ventures.
The company also partnered with Japan Airlines to explore bringing its electric ferries to Japan's waterways.
Regent's seagliders are designed for clean and efficient travel, offering a battery-powered 12-seat model called the Viceroy, which can fly up to 180 mph with a range of about 180 miles.
Regent has built prototypes and a full-scale mockup of the Viceroy, creating an immersive experience for visitors at its headquarters.
The company has received orders for over 500 seagliders, representing approximately $8 billion in future revenue, from customers in various sectors, including airlines, ferry operators, cargo transport, search and rescue, offshore logistics, and security and defense services.
Regent will use the funding to continue development, testing, and hiring for its seaglider technology.
They plan to have the 12-seat Viceroy in production and service within two to three years, with larger 100-seat seagliders called the Monarch expected to be in service by 2030.
Regent's seagliders have the potential to reduce greenhouse gas emissions in aviation and maritime transportation, contributing to decarbonization efforts.
8090 Industries Partner Rayyan Islam sees a new industrial revolution underway, one in which every sector will need to pursue “decarbonization” in a way that makes good business sense.
He also envisions the technology used for offshore energy development and maintenance.
Amperon Holdings, Inc. secures $20 million in Series B funding led by Energize Capital.
Other participants in the round include the D. E. Shaw group, Veriten, and existing investor HSBC Asset Management.
Long-time Amperon customers Ørsted and another strategic utility partner also joined the funding round.
The funding will enable Amperon to evolve from an electricity demand forecasting platform to a comprehensive data analytics solution.
Amperon's goal is to help businesses navigate the energy complex and accelerate grid decarbonization.
This brings Amperon's total funding to $30 million.
The energy industry faces challenges due to extreme weather events, climate change, variable energy resources, and surging demand growth.
Amperon's advanced data analytics software is crucial for mitigating systemic risk in turbulent power grids.
The funding will allow Amperon to leverage AI models for data and asset optimization, including on-site solar, commercial load management, and microgrid deployment.
Energize Capital Partner Tyler Lancaster joins Amperon's board of directors, emphasizing the importance of software tools for the energy transition.
Amperon has experienced significant growth, with revenue increasing by 5x since 2021 and a 4x growth in headcount.
The company plans to hire more engineers, data scientists, customer support, and sales roles as it expands into new markets.
Amperon's expertise in data management helps companies measure their carbon footprint, optimize load, integrate carbon into business models, and accelerate decarbonization efforts.
APA Corporation achieved its ESG goal to convert over 2,000 pneumatic devices to lower-emission technologies in its U.S. operations.
This goal was accomplished three months ahead of schedule.
The conversion results in an estimated annualized reduction of 1,000 tonnes of methane emissions or 25,000 tonnes of carbon dioxide equivalents.
APA's CEO, John J. Christmann IV, emphasized the company's commitment to ESG and its focus on environmental stewardship.
Field-focused teams at APA used a bottom-up approach, starting with an inventory assessment and feedback from vendors to identify effective solutions.
They collaborated to trial various techniques and identified champions in the field before implementing changes across the U.S. onshore operation.
Depending on the situation, they removed devices, converted methane-driven devices to compressed air, or replaced them with non-vent devices to reduce emissions.
Reliance Industries, led by Mukesh Ambani, showcased swappable and multipurpose battery storage technology for electric vehicles (EVs).
These batteries can be used for EV mobility and powering household appliances through an inverter.
The idea is to enable users to use a single battery for both purposes.
Reliance plans to offer battery swap stations and the option for households to recharge batteries using rooftop solar panels.
The company has not specified when it will start selling these batteries.
Reliance's green energy push includes a $10 billion investment in clean energy projects to reduce dependence on oil-to-chemical business and achieve net-zero carbon by 2035.
The company acquired two battery companies in 2021 and 2022: Faradion (UK-based, sodium-ion batteries) and Lithium Werks (lithium iron phosphate batteries).
They are working on customizable batteries for business and individual use, intelligent swap stations, and integrated charging networks.
Reliance intends to partner with EV manufacturers rather than enter EV manufacturing itself.
The company secured incentives to set up a 5 GWh battery manufacturing facility by 2026 under India's $2.4 billion program to boost local battery cell production.
India is promoting clean auto technology, including swappable batteries, to reduce pollution and achieve climate goals, as EV adoption is currently limited due to high battery import costs and a lack of charging infrastructure.
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