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.
Lumen Energy | July 14, 2022
Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) announced the launch of its newest strategy, Bridge Solar Energy Development (“Bridge Solar”), in partnership with Lumen Energy Inc. (“Lumen”).As companies move to decarbonize their operations, onsite renewable energy is increasingly economical. Commercial rooftop solar technology costs have fallen 69% over the last 10 years, while retail electricity prices increased 10% nationally just since 2020; however, onsite commercial solar deployment has remained slow due to complex utility building data, supply chain issues, financing complexities and diverse state-specific incentives. For one-off projects, the unfamiliar process overhead and capital expenditure remain high compared to direct benefits, yet too small for utility-scale investors. Bridge believes that its national footprint and local expertise, combined with Lumen’s data-driven technology, will streamline the analysis and implementation of solar in a high-demand market that has been largely untapped. Only 4.5% of the approximately six million commercial properties in the United States currently have solar arrays, leaving more than 145 gigawatts of onsite solar potential.
“We expect Bridge Solar to provide an unmet need for green energy, via the provision of clean energy at a discount to market rates by deploying renewable energy infrastructure equipment on existing buildings, By partnering with Lumen Energy, a leader in the clean energy software and energy project development process technology space, we will offer best in class design, procurement, construction and operation of solar projects on properties owned by Bridge-managed funds and third-party assets.”
-John Ward, Chief Executive Officer, Bridge Solar, and Chief Investment Officer, Bridge Office.
This unique partnership enables Bridge Solar to evaluate thousands of new property addresses at once, and make decisions in minutes. Building on technology pioneered at U.S. National Labs, Lumen’s technology quantifies the economically ideal “clean energy stack” unique to each property, inclusive of financing and incentives, then automates the deployment process.
“We are excited to partner with Bridge on the next phase of growth for Lumen, Together, our scale, precision, and automation allow us to deliver profitable decarbonization with speed and ease. By building solar-powered energy systems on existing buildings, Bridge Solar will utilize unused space to meet the growing demand for green energy, while simultaneously providing owners and tenants a discount to market energy prices.”
-Peter Light, Chief Executive Officer of Lumen
About Bridge Investment Group
Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $38.8 billion of assets under management as of March 31, 2022. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics properties, net lease and real estate-backed credit.
About Lumen Energy
Lumen Energy is a leading software platform that empowers commercial real estate owners to profitably select and deploy renewable energy across many properties at once. Lumen Energy’s software fuses supercomputer outputs and energy market data into investment-grade financial models, enabling building owners to easily evaluate which clean energy solutions enhance the value of their buildings. The Lumen platform connects owners with a marketplace of qualified local installers, automating clean energy deployment from start-to-finish.
Solar FlexRack | July 01, 2022
Solar FlexRack announced it has provided dependable, cost-effective solutions and engineering expertise to Tucson Electric Power (TEP) for an innovative community solar project in southern Arizona. TEP's 15 megawatt (MW) Raptor Ridge solar array was commissioned this month at a 100-acre site in Tucson, Arizona. The project utilizes Solar FlexRack's single-axis trackers to support 35,500 bifacial modules, which increase energy production by up to 30 percent compared to monofacial modules.
The new array will supply power for the TEP GoSolar Home program, which provides a renewable energy option for renters and homeowners, including those whose rooftops are shaded by trees or nearby buildings. Participants can buy clean solar energy without installation or equipment maintenance costs.
We selected Solar FlexRack from many solar racking options because of their engineering expertise and solar tracker architecture with minimal backside shading design, well suited for bifacial modules. In a challenging market environment where supply chain issues have delayed other large solar projects, Solar FlexRack demonstrated their commitment to customer service by honoring agreements and delivering product on time. We are excited to bring this community-scale solar project online and Solar FlexRack is a big part of TEP's success at Raptor Ridge."
Jeff Krauss, TEP's Manager of Community Scale Renewable Resources
According to the National Renewable Energy Laboratory, nearly 50 percent of households and businesses are not able to host rooftop solar systems. For reasons such as this, the U.S. community solar market continues to grow and enable greater access to solar energy, with expectations that it will add more than 4.5 GW of total capacity over the next five years.
"We are pleased to have been selected by Tucson Electric Power to participate in this benchmark project," said Mike Herman, Director of Operations at Solar FlexRack. "We look forward to providing our engineering expertise and reliable and time-tested trackers in additional impactful community solar projects in 2022 and the years to come."
About Solar FlexRack
Solar FlexRack, a division of Northern States Metals, is an integrated solar company that offers custom-designed, fixed tilt ground mount and single-axis solar tracking systems in the commercial and utility-scale solar mounting industries. Solar FlexRack also offers full turnkey packages, including engineering, geotechnical, pullout testing, field, layout, and installation services to address the actual site conditions of an installation and provide a full scope of services from design to delivery and installation. Solar FlexRack has completed over 3 GW of solar racking installations in nearly all 50 states across America and five countries globally.
Koch Separation Solutions | June 27, 2022
Koch Separation Solutions (KSS) announced the acquisition of LIONEX technology from Chemionex Inc. The acquisition serves as the foundation for the launch of their Li-PRO™ process featuring a proprietary global solution for Direct Lithium Extraction (DLE).
"The launch of the Li-PRO process, coupled with the broader EPC capabilities of our parent, Koch Engineered Solutions, will deliver complete end-to-end solutions for DLE customers, The innovative and patent-pending aspects of the Li-PRO solution will be synergistic with KSS' world-class capabilities in ion exchange and sorptive technologies, membrane filtration, and thermal separations. This combination will deliver superior lithium recovery and purity, chemical consumption, water efficiency, and simplified system configurations, optimizing CAPEX and OPEX to lithium producers"
- Manny Singh, President of KSS.
The Li-PRO™ process is an optimized DLE process configuration combining specialized lithium selective extraction media and leading KSS equipment including robust PURON® membrane-based pretreatment, Recoflo® packed bed lithium extraction, Recoflo softening, and high-recovery reverse osmosis (RO) concentration operations to generate a purified lithium chloride solution. The solution is geared towards customers seeking an optimized solution to developing lithium battery materials to keep up with the growing demand for lithium batteries, primarily in electric vehicles.
KSS will offer the Li-PRO process as a complete offering or as standalone separation processes, depending on customers' unique needs. Their team will initially engage developers in a piloting phase to refine the process design of each step, and work collaboratively to implement small to large-scale operations at optimized performance specifications.
About Koch Separation Solutions
Koch Separation Solutions (KSS) is transforming the landscape of separations by leveraging synergistic technology such as membrane filtration, ion exchange, evaporation, and drying. With over half a century worth of experience, KSS offers solutions for the most demanding applications across food and beverage, life science, and general industrial markets. KSS aims to create more value to their customers around the world by offering complete solutions to recover high-value product, eliminate waste, reduce footprint, increase productivity, and lower costs.