Energy Storage
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Intersect Power Secures $837 Million In Project Financing To Build 1 Gwh Of Battery Energy Storage Systems (Bess) In Texas
Intersect Power announced the closing of two separate transactions representing an aggregate of $837 million of financing commitments for the construction and operation of three standalone Battery Energy Storage Systems (BESS) in Texas. The transactions cover portfolio-level construction debt, tax equity, and term debt financing with industry-leading partners. All three BESS — Lumina I, Lumina
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Quidnet Energy Announces 300 MW Strategic Partnership and $10M Investment from Hunt Energy Network
Quidnet Energy, a pioneer in long-duration energy storage solutions, has announced a strategic partnership with a $10 million investment from Hunt Energy Network (HEN), a leader in energy storage and part of an affiliation of companies with experience in subsurface development. The two Texas-based companies will collaborate on a build-transfer program for 300 MW of storage projects utilizing Quidnet
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Aramco and Rondo Energy Agree on GW-scale Thermal Storage Deployment, Hydrogen and Carbon Capture.
Aramco, one of the world’s leading global energy and chemicals company, yesterday entered into a Memorandum of Understanding (MoU) with Rondo Energy, a provider of lower-carbon industrial heat and power. The companies have started engineering studies for a first industrial scale deployment of Rondo Heat Batteries that would contribute to reduction of emissions from Aramco
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Sustainable Clean Future Possible With Innovative High-Energy-Density Capacitors
In the quest for more efficient and sustainable energy solutions, a multi-university research team has reached a significant milestone in capacitor technology. Researchers from the University of Houston, Jackson State University and Howard University have developed a new type of flexible high-energy-density capacitor, which is a device that stores energy. Though the prototype device is
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Ara Partners acquires majority interest in USD Clean Fuels
Ara Partners (“Ara”), a private equity and infrastructure firm that specializes in industrial decarbonization investments, today announced that it has acquired a majority interest in USD Clean Fuels, LLC (“USDCF”), a developer of logistics infrastructure in North America for the renewable fuels value chain. As part of the transaction, USDCF has also acquired the West Colton Rail
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Greentown Labs Names Kevin Knobloch as Chief Executive Officer
Greentown Labs, the largest climatetech incubator in North America, announced its Board of Directors had appointed Kevin Knobloch as the organization’s next Chief Executive Officer, effective September 5, 2023. Knobloch was formerly Chief of Staff of the U.S. Department of Energy in President Obama’s second term, working with Secretary of Energy Ernest Moniz from June
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Wintershall Dea awarded second storage license for CO2 in Norway
Wintershall Dea and its partner Altera have been awarded the Havstjerne CO2 storage licence in the Norwegian North Sea by the Norwegian Ministry of Petroleum and Energy, according to a news release. According to a news release, the licence is located 135 kilometres southwest of Stavanger and will be operated by Wintershall Dea, holding 50
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Indonesia Energy provides updates on discovery wells onshore in Indonesia
According to World Oil, Indonesia Energy Corporation, an oil and gas exploration and production company focused on Indonesia, has updated its discovery wells drilled in 2022 and its ongoing development activities and plans for 2023 and beyond, including a potential contract extension for its Kruh Block. To maximize the production at Kruh Block, IEC is
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AI Solutions for the Oil and Gas Industry with Changsu Lee of Allganize
Changsu Lee has spent his career working on the front edge of innovation. Educated in South Korea at the Korea Advanced Institute of Science and Technology, where he holds a master’s degree in computer science, Lee is currently the founder and CEO of Allganize, an AI (Artificial Intelligence) document understanding platform. “This (Allganize) is
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Agreement Made Between Energean, Shell to Collaborate on Egypt Decarbonization Project
An oil and gas major has formed a significant partnership on a decarbonization project. According to MarketWatch, Energean PLC, an international hydrocarbon exploration and production company, said it has arrived at a preliminary agreement with Shell to explore a decarbonization solution in Egypt. The company said the agreement will address a major carbon capture and
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$706M Deal to Build Unmanned Offshore Platform ‘Of the future’ Awarded to Aibel
A Scandinavian firm has landed a massive deal to build the offshore platform “of the future.” According to Offshore Engineer, oil and gas company Aker BP has awarded Aibel, a Norwegian engineering and construction firm, a contract worth around 7 billion crowns ($706.1 million USD) to build the Munin offshore platform (formerly Krafla) in the
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GE Cuts Targets as Wind Energy Struggles Push 2022 Goals Out of Reach
General Electric is reassessing its near-term goals for wind energy. According to Bloomberg (via EnergyNow), General Electric Co. will cut its full-year profit target despite strong cash performance in the past quarter, as higher costs in the struggling wind operations add to ongoing challenges with supply chain and labor. Adjusted earnings per share will be
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