President Joe Biden’s administration has said that the US will spend $7.3 billion from 2022’s Inflation Reduction Act to fund clean energy projects helmed by rural electric cooperatives. The 16 funded projects will reduce energy costs and increase reliability for rural Americans, who tend to pay more for energy, the White House said. The first
Germany’s carbon credit market is reeling from a $5 billion scandal that has cast doubt on the integrity of the country’s carbon offset programs. The controversy has exposed widespread fraud and misrepresentation in carbon-reduction projects, severely undermining the credibility of the global carbon reduction effort. The scandal centers around Upstream Emission Reduction (UER) credits, which
Argentina has taken a significant step towards diversifying its economy by joining the US-led Minerals Security Partnership (MSP), a global initiative aimed at reducing reliance on China for critical minerals. The announcement, expected during US Under Secretary of State Jose Fernandez’s visit to Argentina, underscores Argentina’s commitment to enhancing its role in the global supply
Magnom Properties, the real estate arm of Riyadh-based energy giant Rawabi Holding, plans to break ground early next year in Egypt’s new capital on a $1 billion, 50-storey office tower that aims to be the first of its kind to be powered by clean hydrogen. The sophisticated design and high price tag represent a bet
Fortescue Metals Group, one of Australia’s leading iron ore producers, has officially broken ground on its innovative Green Metal Project in the Pilbara region of Western Australia. This pioneering project is expected to commence production of green iron by 2025, marking a significant step forward in the global push towards sustainable and eco-friendly industrial practices.
Clearly, a climate intelligence platform using AI to provide fleet operators with unique and critical trip-level emission and energy insights, announced the close of its €3.9 million seed round. The round, led by Pace Ventures and Nine Realms, also saw participation from existing mobility investors Mobilion, Next Gear and M1720 alongside notable angels Lord Nash
Reliance Industries, India’s largest refiner, has resumed crude oil imports from Venezuela, utilizing a naphtha-for-crude swap arrangement. This strategic move comes after the company secured a U.S. license last month to re-engage in oil trade with the sanctioned South American nation. Under the terms of the deal, Reliance will supply naphtha, a refined petroleum product,
Axle Energy, an energy flexibility platform connecting distributed assets with energy markets, has raised €8.3 million in seed funding to accelerate its mission to decarbonise the grid. Accel led the round, with participation from existing investors Picus Capital and Eka Ventures. A number of notable angel investors also participated, including Amit Gudka (founder and CEO
In a groundbreaking discovery, the Massachusetts Institute of Technology (MIT) suggests that old soda cans and seawater could be the key to revolutionizing fuel production and creating a sustainable source of clean energy. MIT engineers have discovered that when pure aluminum from soda cans is exposed to seawater, it creates bubbles and naturally generates hydrogen.
China aims to cut carbon emission from its coal-fired power industry by launching low-carbon upgrades and applying new power generation technologies, according to a government plan. China, the world’s top energy consumer, relies largely on coal which is the most carbon-intensive source of energy. In an action plan jointly issued by the National Development and
