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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Climeworks unveiled their Generation 3 direct air capture (DAC) technology with significant improvements.
This new technology captures double the CO2 per module while using half the energy.
The sorbent materials last three times longer and the overall cost is reduced by 50% compared to previous generations.
The Generation 3 technology is based on novel structured sorbent materials housed in modular cubes.
The initial large-scale deployment of Generation 3 DAC technology will occur in Louisiana.
This plant will be part of the "Project Cypress DAC Hub," a megaton-scale initiative funded by the U.S. Department of Energy.
Construction is expected to begin in 2026.
BNP Paribas struck a deal with Swedish heat pump company Aira to make heat pumps cheaper for households.
Aira secured €200 million from BNP Paribas to install heat pumps in thousands of homes across Germany.
The partnership aims to develop an innovative asset class in Europe through heat pump securitization.
BNP Paribas provides a warehouse financing facility to bridge the financial gap for heat pump installation.
The securitization will package installment purchase agreements of up to 20,000 Aira customers in Germany.
Aira aims to serve 5 million households and raise multiple similar facilities in the coming years.
Oxy and BHE Renewables formed a joint venture to commercialize TerraLithium Extraction Technology (DLE) for lithium extraction from geothermal brine.
TerraLithium is a wholly owned subsidiary of Occidental that owns the DLE technology.
BHE Renewables operates 10 geothermal power plants in California’s Imperial Valley, processing 50,000 gallons of lithium-rich brine per minute.
The joint venture will use BHE Renewables’ Imperial Valley facility to demonstrate the feasibility of DLE for environmentally safe lithium production.
Upon successful demonstration, BHE Renewables plans to build commercial lithium production facilities in the Imperial Valley.
The joint venture also plans to license the technology and develop commercial facilities outside the Imperial Valley.
Lithium demand is projected to grow tenfold by 2030.
Two new stations opened in San Bernardino and Perris, California.
Stations provide access to Renewable Natural Gas (RNG) for heavy-duty trucks and fleets.
RNG is a low carbon-intensity transportation fuel made from organic waste.
New stations strategically located near key transportation corridors.
RNG complements Cummins' recently released X15N engine for cleaner trucks.
Clean Energy operates over 600 fueling stations across North America, 200 accessible to tractor-trailers.
Company is investing hundreds of millions in RNG production at US dairy farms to ensure a steady supply.
Xcimer Energy, a company focused on inertial fusion energy, secured a massive $100 million in Series A funding. Led by Hedosophia, this investment includes participation from major climate tech players. The funds will fuel development of a prototype laser system and team expansion.
Xcimer's technology is a game-changer. They're developing a low-cost, high-energy laser approach to inertial fusion, aiming for significantly better performance compared to existing systems. Their laser design boasts up to 10 times higher energy, efficiency, and lower cost per joule.
To lead the engineering of this innovative laser system, Xcimer brought in a heavyweight - Giovanni Greco, a seasoned leader with experience in complex aerospace systems. He joins as Senior Vice President of Engineering.
Xcimer's approach has garnered recognition from the U.S. Department of Energy. They received a $9 million award through the department's Milestone-Based Fusion Development Program.
Leeward Renewable Energy (LRE) signed a 15-year agreement with Pacific Gas & Electric Company (PG&E) for the 112.5-megawatt Sierra Pinta Energy Storage project in Yuma County, Arizona.
The battery storage project will have a capacity of 450 MWh, enough to power over 90,100 homes for four hours.
Construction is expected to begin in September 2024 and be operational by the first half of 2025.
The project will create approximately 98 jobs during peak construction and bring significant tax benefits to Yuma County.
LRE owns and operates a portfolio of 32 renewable energy facilities totaling 3 gigawatts of generating capacity.
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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.