ENERGY
Volvo Energy | June 17, 2022
Volvo Energy invests in the UK-based, second-life battery energy storage specialist Connected Energy in order to further accelerate Volvo Group's battery business and sustainability opportunities.
In its mission to support and secure an attractive and sustainable circular business model for batteries, Volvo Energy is investing approx. SEK 50 M for 10 percent in the UK-based second-life battery energy storage specialist Connected Energy.
"There is a great deal of untapped potential in the second-life use of batteries. This forward-leaning investment aims to facilitate the scaling-up of second-life battery energy storage systems and further secure circular business opportunities for the forthcoming ramp-up in Volvo Group's second-life battery returns, Together with Connected Energy, we will minimize the environmental impact of the batteries that has powered Volvo Group vehicles. By repurposing the batteries, we obtain the full value from them – from a climate, environment and business perspective."
-Joachim Rosenberg, President Volvo Energy.
"We couldn't be more pleased to welcome our new investor Volvo Energy on board and look forward to forging a path to increasing the sustainability of both electric vehicles and grid connected energy storage. Our collaboration will enable us to optimize the potential for battery reusage and ensure that the resources in the batteries are used effectively,"
- Matthew Lumsden, CEO Connected Energy.
Volvo Energy is one of five new investors including Caterpillar Venture Capital Inc., the Hinduja Group, Mercuria, OurCrowd to join existing investors of Connected Energy; Engie New Ventures, Macquarie, and the Low Carbon Innovation Fund.
Facts Volvo Energy
Volvo Energy is a business area within the Volvo Group dedicated to providing essential support and infrastructure during the first-life, i.e. when batteries are mounted on vehicles, whilst subsequently securing reliable and sustainable second-life opportunities prior to battery recycling. Consequently, Volvo Energy supports to optimize first-life, creates and prolongs the second-life opportunities and thereby expanding the value creation from a climate, environment and business perspective.
Facts Connected Energy
With its headquarters in Newcastle upon Tyne, Technical Centre in Norfolk and systems operational in the UK, Belgium, Germany and Netherlands, Connected Energy is one of only a handful of companies in the world to have proven that second life vehicle batteries can be used in commercial battery storage systems. Connected Energy has sixteen operational systems across Europe: Belgium, Germany, the Netherlands and the UK with its largest at Cranfield University in Bedfordshire, England.
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ENERGY
PPL Corporation | June 02, 2022
PPL Corporation (NYSE: PPL) today announced it has joined Climate READi, a three-year initiative launched by the Electric Power Research Institute (EPRI) to address energy system climate resilience and adaptation as extreme weather events continue to increase.
"As we strive to address climate change and achieve a net-zero future, we've made significant progress in hardening our systems and deploying smart grid technology to make our energy networks more resilient to severe weather that may become more frequent with climate change,"
- Gregory Dudkin, chief operating officer of PPL Corporation.
Across its Pennsylvania and Kentucky operating companies, PPL has invested more than $20 billion over the past decade on infrastructure improvements, much of that focused on incorporating new technology and hardening transmission and distribution systems. These improvements have reduced the number of outages our customers experience by an average of 35% over the past decade despite recent increases in storm activity and severity. As PPL expands its operations to Rhode Island with the recent acquisition of The Narragansett Electric Company, now Rhode Island Energy, the corporation is focused on replicating this success.
Climate READi will enable global energy companies, climate scientists, regulators and other stakeholders to proactively analyze and apply climate data, allowing for the planning, design and operation of resilient energy systems of the future. EPRI's collaborative model will convene the global thought leaders and scientific researchers necessary to build an informed and consistent approach. PPL is one of 13 anchor companies that have joined the initiative.
About PPL Corporation
PPL Corporation (NYSE:PPL), based in Allentown, Pennsylvania, is a leading U.S. energy company focused on providing electricity and natural gas safely, reliably and affordably to 3.5 million customers in the U.S. PPL's high-performing, award-winning utilities are addressing energy challenges head-on by building smarter, more resilient and more dynamic power grids and advancing sustainable energy solutions.
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FOOD SYSTEMS
AlsoEnergy | June 08, 2022
AlsoEnergy, a Stem (NYSE: STEM) company and a leading edge-to-cloud clean energy optimization platform provider, has launched a premier distribution channel to further accelerate the adoption of clean energy assets. Building on the success of its direct sales, AlsoEnergy is leveraging Stem’s proven channel sales model and relationships with global distributors to begin offering its edge-to-cloud platform more broadly across the U.S. The new distribution channel provides Engineering, Procurement and Construction (EPCs) and developers with streamlined access to AlsoEnergy’s platform that unlocks improved economic and operational opportunities for a range of systems, including solar Commercial and Industrial (C&I) systems. The channel launched with a leading North American distributor and is expected to expand to other distributors.
Designed for C&I projects up to 3 megawatts (MW), the platform includes edge solutions that collect and log data about onsite conditions from various clean energy hardware. The data is then securely transmitted to PowerTrack, AlsoEnergy’s cloud application for optimization of clean energy assets, providing insights into weather-adjusted, expected site performance. Accompanying 5-year PowerTrack subscriptions, three of AlsoEnergy’s edge solutions will now be offered through its distribution channel, including AlsoEnergy’s Power Light Commercial Solution 400, Power Light Commercial Solution 600 BASE, and Power Light Commercial Solution 600 PLUS.
“For more than a decade, AlsoEnergy has consistently delivered reliable edge-to-cloud solutions to empower energy stakeholders to realize higher returns in the evolving energy market, By launching a distribution channel, we are able to serve a larger market in the U.S. and more diversified energy asset portfolios by improving access to our industry-leading solutions. As a new part of Stem, we are excited to continue to grow this channel to accelerate the clean energy transition.”
-Bob Schaefer, President of AlsoEnergy.
“Three years ago, the Stem Partner Program pioneered bringing energy storage to the distribution channel and established successful relationships with national and global distribution leaders, As a key post-acquisition milestone for Stem and AlsoEnergy, this new distribution channel is an important step for the companies’ business goals to create an inclusive energy economy by delivering synergistic, market-leading solutions.”
-Alan Russo, Chief Revenue Officer at Stem.
As a newly combined company, Stem and AlsoEnergy are uniquely positioned to meet the increasingly complex needs of the energy market as it matures, reinforcing their commitment to their partner network. Since 2019, the Stem Partner Network has yielded more than 500 active partners and more than 48GWh of active projects.
About Stem
Stem (NYSE: STEM) provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena®, a world-class AI-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation, and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility, and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter. With the acquisition of AlsoEnergy, Stem is a leader in the solar asset management space, bringing project developers, asset owners and commercial customers an integrated solution for solar and energy storage management and optimization.
About AlsoEnergy
From its founding, AlsoEnergy has led the market in edge-to-cloud portfolio management solutions that make clean energy more resilient, manageable, and scalable. With the clean energy economy offering unprecedented opportunities, AlsoEnergy empowers businesses to rapidly scale and confidently optimize their clean energy portfolios with distributed assets in utility, C&I, and aggregated residential. PowerTrack, AlsoEnergy’s flagship portfolio management application for users throughout the value chain, drives insightful decisions that improve business efficiencies and financial and energy performance. Our dedicated team with deep industry expertise provides tailored solutions throughout the lifetime of clean energy assets. AlsoEnergy was recently acquired by Stem, the leader in smart energy storage.
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PRODUCTS
Enlight Renewable Energy | July 07, 2022
Enlight Renewable Energy (TASE: ENLT) has signed an agreement for the acquisition and joint development of a 525 MW portfolio of renewable energy projects in Croatia, across various stages of development. The portfolio comprises five projects, four of which are solar, totaling 386 MW and one of which is wind, totaling 139 MW. Enlight projects that the projects will commence construction from the end of 2023 through 2025, subject to the successful completion of the development phase for each project.The portfolio is one of the largest and most advanced portfolios of renewable energy projects in Croatia, and will enable Enlight to diversify its activity in Croatia to include significant solar projects, alongside its existing operational high-quality Lukovac wind project. As a member of the European Union, Croatia has adopted a far-reaching National Energy and Climate Plan (NECP) to increase the generation of electricity from renewable sources from 28% to over 36% by 2030 and 66% by 2050. Croatia benefits from one of the strongest solar resources in Europe and untapping the potential of its solar resources will be key to achieving the country's 2030 and 2050 renewable targets.
The acquisition also reinforces Enlight's already strong presence across Central and Eastern Europe, where the Company owns a 1.2 GW portfolio of renewable energy projects between Hungary, Kosovo, Serbia and Croatia, including 316 MW of operational projects.
Enlight Renewable Energy
founded in 2008 and traded on the Tel Aviv 125 Index is 98% publicly held. It is among the Israeli leaders in initiation, development, funding, construction and operation of ventures for generation of clean electricity from renewable energy sources. The company operates in Israel and Europe, benefits from a diverse portfolio of revenue-generating projects that are under construction, leading up to construction and with a signed agreement for the sale of electricity (PPA) with an output of approximately 3,800 MW, approximately 1, 200 MW in advanced development stages and an additional approximately 12,200 MW in various stages of development. The company has a growing revenue pipeline from long-term agreements for the sale of electricity and is also working to expand its footprint in additional clean energy markets and segments.
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