Low-carbon fuels in Louisiana

PLUS: Oklo-FANG, Bloom's $75mm, e-NG, methane capture tech, ION's $45mm raise from Chevron and Carbon Direct

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.

Here’s what we have for you today:

  • ION Clean Energy raised $45 million from Chevron New Energies and Carbon Direct Capital.

  • Chevron New Energies led the investment round, highlighting ION's post-combustion point-source capture technology using its ICE-31 liquid amine system.

  • The funding will support ION's organizational growth and the commercial deployment of its carbon capture technology for hard-to-abate emissions.

  • ION's technology features high capture efficiency, low energy use, and minimal emissions, distinguishing it from competitors.

  • Chevron and Carbon Direct Capital's investments signify confidence in ION's technology and potential impact on commercial and environmental fronts.

  • Timothy Vail has been appointed as the new Chief Executive Officer of ION Clean Energy to drive the company's growth and accelerate the deployment of its carbon capture technology.

  • Windfall Bio raised $28 million in Series A funding.

  • The funding round was led by Prelude Ventures and included participation from Amazon’s Climate Pledge Fund, Global Brain, Incite Ventures, and Positive Ventures, as well as existing investors like B37 Ventures and Breakthrough Energy Ventures.

  • The capital will support Windfall Bio's efforts to commercialize its methane-to-value solutions across methane-intensive industries like agriculture, oil and gas, and waste management.

  • The funding will also be used to expand pilot deployments, build the team and manufacturing capacity, and meet growing customer demand for methane mitigation solutions.

  • Windfall Bio's solution captures methane at a low cost and produces high-quality fertilizer on-site, addressing methane emissions while creating value for customers.

  • Strategic Biofuels receives strategic investment from Magnolia Sustainable Energy Partners (M-SEP), a Japanese-based consortium formed by SCOA and JX.

  • Investment to advance Louisiana Green Fuels (LGF) project, an ultra-low carbon negative sustainable aviation fuels (SAF) plant.

  • JX brings carbon capture and sequestration (CCS) expertise from Petra Nova CCUS project near Houston to LGF project.

  • LGF project converts forestry waste into SAF with CCS component for onsite carbon capture and storage.

  • SCOA provides investment support for LGF project, plans 20-year offtake for renewable fuels and credits.

  • LGF project aims for Financial Investment Decision and construction commencement in early 2025.

  • Bia Energy Operating Company announces updates for low carbon methanol project at Port of Caddo-Bossier in Louisiana.

  • Planned $1.2 billion facility to produce 550,000 metric tons of blue and bio-methanol annually.

  • Agreement with Macquarie Group for commercialization and marketing of methanol.

  • Partnership with CapturePoint to capture and transport CO2 from the site.

  • Facility designed to reduce carbon emissions by over 92% compared to traditional methanol production.

  • FEED study and major permits complete for the $1.2 billion facility.

  • Collaboration with Macquarie to seek fixed-price offtake agreements.

  • Collaboration with CapturePoint to transport CO2 to a class VI well site in central Louisiana.

  • Financial close expected in 2024, with construction starting thereafter and commercial operations in late 2026.

  • Tree Energy Solutions (TES) successfully raises €140 million in its third fundraising round.

  • Strong support from existing shareholders like AtlasInvest, Reggeborgh, Zhero, Zodiac Maritime, and new investors like Azimut Group.

  • Funds will be used for developing global e-NG (electric natural gas) production projects and an import terminal in Wilhelmshaven, Germany.

  • e-NG is a hydrogen-based green molecule similar to natural gas, aiding in decarbonization efforts.

  • TES has partnerships with TotalEnergies, Osaka Gas, Toho Gas, Tokyo Gas, Fortescue, and ADNOC for large-scale e-NG projects worldwide.

  • Developing a green energy hub in Wilhelmshaven to facilitate import/export of natural gas and e-NG, CO2 export, and green hydrogen/power production.

  • Oklo signed a non-binding letter of intent (LOI) with Diamondback Energy to collaborate on a 20-year Power Purchase Agreement (PPA).

  • The LOI outlines Diamondback's intent to purchase 50 megawatts (MW) of power from Oklo's Aurora powerhouses to supply reliable and emission-free electricity to its operations in the Permian Basin.

  • Oklo intends to license, build, and operate powerhouses capable of generating 50 MW of electric power for Diamondback near Midland, Texas.

  • The agreement includes options to renew and extend the PPA for an additional 20-year term.

  • Oklo's design-build-own-operate business model simplifies power purchasing for customers like Diamondback, without complex ownership issues or additional capital requirements.

  • This collaboration supports emissions reductions and national energy security by providing reliable access to electricity for domestic energy operations.

  • Bloom Energy awarded up to $75 million in federal tax credits for Fremont manufacturing plant.

  • Award under Qualifying Advanced Energy Project 48C initiative by DOE, Treasury, and IRS.

  • Bloom committed to expanding domestic manufacturing, fuel cell, and electrolyzer production.

  • Funding part of $4 billion tax credits for clean energy manufacturing and emissions reduction.

  • Funds to invest in operational efficiency, expand stack capacity at Fremont facility.

  • Facility can produce over 1 gigawatt annually, equivalent to adding a nuclear power plant yearly.

Trade is realpolitik, and the recent cancellation of future liquified natural gas (LNG) projects is a good example of this fact. The projects were delayed mainly for political reasons — to pacify those who believe that gas is bad and that oil and gas projects should simply be stopped. This is not only wrong but also enormously naïve. One of the best ways to reduce CO2 for the next few decades is to use gas to replace coal. When oil and gas prices skyrocketed last winter, nations around the world — wealthy and very climate-conscious nations like France, Germany and the Netherlands, as well as lower-income nations like Indonesia, the Philippines and Vietnam that could not afford the higher cost — started to turn back to their coal plants. This highlights the importance of safe, secure and affordable energy. Second, the export of LNG is a great economic boon for the United States. But most important is the realpolitik goal: Our allied nations that need secure and affordable energy resources, including critical nations like Japan, Korea and most of our European allies, would like to be able to depend on the United States for energy. This now puts them in a difficult position — they may have to look elsewhere for such supplies, tuning to Iran, Qatar, the United Arab Emirates or maybe even Russia. We need to minimize anything that can tear at our economic bonds with our allies.

The strength of our domestic production of energy gives us a “power advantage” — cheaper and more reliable energy, which creates economic and geopolitical advantages.

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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.

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