FERC rules clean energy must pay higher market price in New York

Economic Times | February 21, 2020

The Federal Energy Regulatory Commission on Thursday issued a suite of orders that will require subsidized energy storage and renewable power resource providers to meet a price floor in New York state's capacity market, making it harder for them to compete with fossil fuel plants. The move, which environmental groups said effectively bolsters fossil fuel generators by forcing renewable resource providers to pay a premium in the capacity market, follows a similar FERC order in December that applied to PJM Interconnection, the largest U.S. power grid operator. In a press release, FERC said the orders protect competition by narrowing exemptions from the price floor rules.

Spotlight

As of 2014, there are more than 645,000 homes throughout the U.S. with solar power units. Solar power can help a homeowner to save money on their energy bill, and while they are expensive to install, prices are dropping. Also, installing solar can help a homeowner to reduce their carbon footprint. As the technology continues to advance, solar power will only become more efficient. Tax breaks offered by the government currently make solar more affordable, so now is a great time to consider installing solar.


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ENERGY

Climate-Technology Company Colossus Announces $36 Million Series-A Round, Taking Total Funding to $41 Million

Colossus | January 19, 2022

Colossus announced a $36 million Series A funding round, led by investors BuildGroup and including participation from Capital Creek, RTP Global, CEAS, & Poplar Ventures. This capital raise will bring total funding for the solar software start up to $41 million, including $5 million in seed funding from 2020. Colossus is a software and service company focused on accelerating the clean-energy movement. Colossus's innovative solar software and marketplace model helps companies of all sizes integrate, optimize, and digitize their workflows to foster business growth and the adoption of clean energy at scale. Our driving force at Colossus is to reimagine the fragmented and rapidly evolving solar marketplace through a unique portfolio of technologies and services that work together to streamline the deployment of clean energy. Solar energy installers are reporting increasing customer acquisition costs even as sales shift to online modes and confidence in the solar industry is at an all-time high. Our innovative software and marketplace model supports the rapid evolution of the solar + storage industry by developing tools that help drive sustainable business growth while accelerating solar adoption at scale." Walid Halty, CEO and Founder of Colossus Since its founding in 2017, Colossus (formerly Dvinci, Inc.) has rapidly grown its company, building a world-class executive leadership team with extensive experience in solar, software, demand generation, and workflow management. "We were drawn to Colossus's leadership and vision to accelerate the transition to renewable sources of energy, which is inevitable for the future of our planet," said Lanham Napier, Co-Founder and CEO of BuildGroup. "Colossus is uniquely positioned to create software solutions that help level the playing field for clean-energy professionals and companies of all sizes, opening up possibilities to modernize the industry while effectively responding to growing consumer demand." About Colossus Colossus is an enterprise software and service company focused on accelerating the clean-energy movement. Founded by industry leaders, Colossus aims to reimagine the fragmented and rapidly evolving solar marketplace through a unique portfolio of technologies, services, and partnerships that work together to streamline the deployment of clean energy. Colossus helps solar companies across the nation reach more customers and lower their soft costsby leveraging proprietary data and technology. Colossus's innovative solar software and marketplace helps companies of all sizes integrate, optimize, and digitize their workflows to foster business growth and the adoption of clean energy at scale.

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STRATEGY AND BEST PRACTICES

Electreon Signs a Commercial Agreement With Electra Afikim––Israel's Fourth Largest Bus Operator

Electreon | May 17, 2022

Electreon (TASE: ELWS.TA), the leading provider of wireless and in-road electric vehicle (EV) charging technology, has signed an agreement of cooperation with the public transportation company Electra Afikim. As part of the agreement, Electreon will provide Electra Afikim with wireless charging infrastructure that will enable simultaneous charging of 30 buses, 24 hours a day. The deal is a result of a call for proposals issued by Israel’s National Public Transportation Authority in the Ministry of Transportation to public transport operators, to procure and establish infrastructure to electrify buses. The ministry was a partner in arranging the parking lot for electric charging with the Rosh HaAyin municipality, and invested about $2.9 million in the project. As part of the agreement Electreon will provide maintenance, support and operation services for the next 12 years. The cost of the deal is $1.9 million; it will cover the fleet's activity, and includes 30 buses. In addition, Electra Afikim will bear the cost of the electricity. Electra Afikim is the fourth largest bus operator in Israel with roughly 1,400 buses. The municipality of Rosh Hain played a key role in the agreement as part of it policy to promote clean electric transportation in the rapidly growing city This is the second commercial deal signed by Electreon in Israel. The previous, with Dan bus company in October 2021, and includes the sale of wireless charging services for 200 buses. The company estimates that the Electra Afikim agreement has potential for future expansion, including a significant chance of replication with other operators from Israel and abroad. The deal was done in accordance with the Ministry of Transportation's decision to change the face of public transportation in Israel, as part of its ban on the introduction of polluting buses from 2025. The support of the Ministry of Transportation is important especially since the ministry is the entity that finances the public transportation activity in Israel, and the entity that approved the use of Electreon’s wireless charging. The approval given will allow Israeli public transportation operators to duplicate the project and quickly promote green transportation in Israel. “As a leading public transportation company, we are turning towards green energy, Since the transition to electrification depends on the allocation of infrastructure, powerful grid connections and prolonged bureaucracy, we were happy to partner with Electreon, which offers a more cost-effective and accessible alternative to charging electric buses. Electra Afikim already operates 25 electric buses on unique BRT lines in the city of Ashdod as part of a sustainable city project and strives to expand the use of green energy buses. This strategy is in line with Electra Group's sustainable activities on various levels over the past years. We thank the National Public Transport Authority for promoting the agreement as part of its e policy to electrify public transportation." -Oded Cohen, CEO of Electra Afikim. Electreon's activity in Israel is in line with the company's business model, as part of its process to promote public transport operators and other commercial fleet operators in the US, Europe, Germany and France with Electreon's strategic partner, the infrastructure company, Vinci. Over the past weeks Electreon has announced several international deals including: Development agreement for commercial wireless charging projects with Destia, Finland's leading infrastructure services company. As part of the agreement the parties will promote commercial public charging projects in Finland, with trucks and wireless distribution vehicles. USA - The company announced collaboration with the leading wireless charging research center ASPIRE in Utah. As part of the project, which will be launched this summer, ASPIRE will set up a demonstration of a wireless electric road in their test track. The project will demonstrate the company's system for the U.S. Department of Transportation, additional U.S. authorities and potential customers and partners from across the United States. Jacobs, Electreon’s strategic partner, is engaged in promoting commercial transactions with its various customers to operate bus and truck transportation throughout the U.S. In addition, Jacobs partnered with Ford in the U.S. first electric road project, in which the City of Detroit announced its plans to invest heavily and become a leader in infrastructure for charging electric vehicles while driving. Sweden - The company recently updated that the Swedish Ministry of Transportation has added a budget of €2 million ($2.17 million) to extend its project in Gotland - the world’s first wireless electric road for trucks and buses. Which will strengthen its position ahead of the tender for the construction of the first 42 km long electric road in Sweden. “2022 is Electreon’s year of transition from planning, development and construction of supply chains towards large-scale production and sales, The wireless static charging project signed with Electra Afikim is a model that the company intends to replicate in many cities around the world, along with dynamic wireless charging. Electreon continues to significantly increase its production capacity in order to be ready for the rapid construction of projects in the pipeline and future projects.” -Oren Ezer, CEO of Electreon. About Electreon Electreon is the leading provider of wireless charging solutions for electric vehicles (EVs), providing end-to-end charging infrastructure and services to meet the needs and efficiency demands of shared, public and commercial fleet operators and consumers. The company’s proprietary inductive technology dynamically (while in motion) and statically (while stopped) charges EVs quickly and safely, eliminating range anxiety, lowering total costs of EV ownership, and reducing battery capacity needs—making it one of the most environmentally sustainable, scalable, and compelling charging solutions available today. Electreon works with cities and fleet operators on a charging as a service (CaaS) platform that enables cost-effective electrification of public, commercial, and autonomous fleets for smooth and continuous operation. For more information, visit electreon.com. About Electra Afikim \Electra Afikim is the transportation division of the Electra Group, and expresses the vision of the group Electra to establish its position as a leading player in the transportation industry in Israel. Afikim was established in 2008 as part of one of the Ministry of Transportation's reforms that allowed private companies to bid in tenders to operate public transportation clusters. In 2009, the company won the operation of Samaria.cluster, In 2013, it expanded its operations through the acquisition of Veolia Transportation. In 2020. Control of the company was acquired by the Electra Group and about a year later, Electra Afikim acquired Egged Transport Company. Today, the company, which is managed by Oded Cohen, operates about 1,400 buses on about 450 service lines, which operate in five transportation clusters. The company covers about 60 million kilometers and transports more than 60 million passengers a year.

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Next Earth and SEE Turtles Collaborate on Metaverse Charity Game for Earth Day

Next Earth | April 23, 2022

Our planet is in crisis, but you can help make a difference, even from the comfort of your home. Next Earth , the third largest metaverse, is teaming up with SEE Turtles to launch a new game with a cause: players can purchase land in the metaverse, with a portion of the proceeds going to real-life environmental projects. Having already allocated $1 million to environmental issues, Next Earth is committed to making a difference. Users can now buy land in select metaverse territories, with a chance to win $200,000 worth of NXTT or five unique NFTs. In each transaction, 20% of the proceeds will go to SEE Turtles, which will use the funds to implement plastic removal projects in the same locations in the real world. How to participate in the game In this campaign, players can help clean up the environment by purchasing land on one of the designated territories. In the game, you will participate in a treasure hunt by looking for prizes hidden under the garbage. Next Earth placed $200,000 worth of NXTT in various denominations under the tiles, along with 5 unique NFTs made by TinyWasteland. The campaign will launch in May, and Next Earth will announce the exact date soon. Noemi Magyar , Head of CSR at Next Earth, and Brad Nahill , President of SEE Turtles, joined forces for a live stream on April 21 to discuss their partnership and how donations turn into aid real. TinyWasteland artist Peter Csakvari also joined them to discuss his art and how NFTs can be used in these campaigns. A “metaverse for doing good” project The collaboration between Next Earth and SEE Turtles illustrates how the metaverse can be used for good causes and for social responsibility. Together they have a positive impact on the environment and help endangered species recover. As a metaverse that already donates 10% of proceeds to environmental initiatives, Next Earth is thrilled to launch its latest social responsibility campaign in partnership with its community.

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ENERGY

Heliogen Awarded Exclusive Right to Lease Brenda Solar Energy Zone for Green Hydrogen Production

Heliogen | February 09, 2022

Heliogen, Inc., a leading provider of AI-enabled concentrated solar energy, announced that the United States Bureau of Land Management has awarded the Company the exclusive right to lease land in the Brenda Solar Energy Zone (SEZ). Heliogen intends to develop a green hydrogen facility on the Brenda site, capable of producing approximately 20,000 metric tonnes of hydrogen per year. The Brenda SEZ is situated on 3,343 acres of land in La Paz County, Arizona on the California border. The site has direct access to Interstate 10 for distribution of hydrogen to nearby natural gas pipelines for blending and transport, as well as to the Phoenix metropolitan area and the Port of Los Angeles for domestic and international shipping. The Brenda SEZ is an ideal location for commercial-scale green hydrogen production due to the ample local water supply and its close proximity to potential offtake partners and key distribution channels. We look forward to providing updates on our plans to develop the facility and will leverage our proprietary, AI-enabled concentrated solar power technology to produce cost-effective green hydrogen. We are grateful to the Bureau of Land Management for their support and clarity throughout the process and are looking forward to continuing our work together.” Bill Gross, Chief Executive Officer of Heliogen As previously announced, Heliogen and Bloom Energy successfully generated green hydrogen by integrating the companies’ technologies – Heliogen’s concentrated solar energy system and Bloom Energy’s Electrolyzer. The successful hydrogen production demonstration in Lancaster, California, completed in November 2021, showcased the many benefits of combining the companies’ complementary green power and hydrogen production technologies. Heliogen’s AI-enabled concentrated solar energy system is designed to create non-intermittent, carbon-free steam, electricity, and heat from sunlight. When combined with Bloom Energy’s proprietary solid oxide, high-temperature electrolyzer, hydrogen can be produced 45 percent more efficiently than with low-temperature polymer electrolyte membrane (PEM) and alkaline electrolyzers. Electricity accounts for nearly 80 percent of the cost of hydrogen produced from electrolysis, and by using less electricity, hydrogen production is more economical, accelerating its adoption. In addition, the ability to use heat, which is a much lower cost source of energy than electricity, further improves the economics of green hydrogen production. Project development is one of the many ways Heliogen can support customers looking to deploy its novel solar technology. Heliogen leverages its in-house expertise, led by Chief Commercial Officer Tom Doyle, to develop project sites on behalf of customers who take an owner/operator role. About Heliogen Heliogen is a renewable energy technology company focused on eliminating the need for fossil fuels in heavy industry and powering a sustainable future. The company’s AI-enabled, modular concentrated solar technology aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, or green hydrogen fuel at scale – for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996.

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Spotlight

As of 2014, there are more than 645,000 homes throughout the U.S. with solar power units. Solar power can help a homeowner to save money on their energy bill, and while they are expensive to install, prices are dropping. Also, installing solar can help a homeowner to reduce their carbon footprint. As the technology continues to advance, solar power will only become more efficient. Tax breaks offered by the government currently make solar more affordable, so now is a great time to consider installing solar.

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