TESLA SAYS A MILLION-MILE BATTERY COULD OFFER A MAJOR ENVIRONMENTAL BENEFIT

Inverse | June 09, 2020

Tesla could soon introduce a battery that can last for one million miles over the course of its lifetime, and that could have a big effect on reducing carbon emissions. A Bloomberg report this week revealed that Chinese battery firm Contemporary Amperex Technology, also known as CATL, believes it is ready to start production on a battery that can run for 1.2 million miles. The new battery would be designed to last for 16 years. CATL started providing batteries to Tesla in February alongside its other clients. A report in May claimed the firm's million-mile battery project would be used in Tesla vehicles.

Spotlight

The term “geothermal” means “Earth heat” or “heat of the Earth.” Energy from geothermal resources has benefited humankind from its earliest origins. Prehistoric civilizations used hot springs and steam discharges (fumaroles) for cooking, heating, and therapeutic bathing; in modern terms, these uses are known as geothermal direct-use applications. In the United States, geothermal energy has provided affordable, reliable, and renewable energy since the 1890s, when the city of Boise, Idaho, began using geothermal resources for direct heating of commercial and residential buildings (Mink 2017). Since then, use of geothermal energy in the United States has expanded to include utility-scale electricity production, distributed heating and cooling applications, and the augmentation of various industrial processes.


Other News
SUSTAINABILITY

Wien Energie and RIDDLE&CODE Extend Their Partnership to Support and Accelerate Global Decarbonisation Efforts

Wien Energie | December 16, 2021

RIDDLE&CODE Energy Solutions, a subsidiary firm of the leading European blockchain interface company RIDDLE&CODE, announced a joint venture partnership with the largest energy provider in Austria, Wien Energie. The signing of the agreement took place on 9 December, with the objective of accelerating global decarbonisation efforts and distributing solutions that have proven effective in Vienna to customers worldwide. Under this agreement, Wien Energie and RIDDLE&CODE will share financial and technological resources to provide cutting-edge services and continue shaping the future of the energy market. A joint venture of two companies that have collaborated for years will leverage Wien Energie’s technical, commercial and legal expertise in the energy sector and access to more than two million customers, and RIDDLE&CODE’s know-how in asset tokenization. The energy market is complex, and the complexity further increases with decentralisation.Wien Energie has long-standing experience of decarbonising energy production portfolios. RIDDLE&CODE helps bring more transparency and traceability into the system, while incentivising sustainable business models, such as our dynamic Citizen Solar Power Plant. We are looking forward to strengthening our collaboration with our signature today and opening the next successful chapter for this young company." Michael Strebl, Wien Energie CEO Citizen Solar Power Plant utilises energy tokenization platform MyPower, patented Trusted Gateway and the regulatory-compliant Token Management Platform, which provides the foundation for trusted data sharing. Upcoming MyPower releases will focus on creating data market interfaces for all machines connected to the energy grid and offering tokenized green power purchase agreements. It will also focus on opening the platform’s capabilities to the automotive industry to create a “Green Mobility Chain of Trust”, which will provide a chain of evidence between green energy sources, charging stations and battery electric vehicles (BEVs). Wien Energie Wien Energie is one of Austria’s largest utility providers, responsible for ensuring the reliable supply of electricity, natural gas and heating to around two million people, 230,000 businesses and industrial facilities, and 4,500 farms in the Greater Vienna metropolitan area. RIDDLE&CODE Energy Solutions RIDDLE&CODE Energy Solutions, a subsidiary firm of the leading European blockchain interface company RIDDLE&CODE, provides the blockchain-powered infrastructure that enables resilient, low-cost and green electricity production and builds a foundation for a decentralised urban energy marketplace.

Read More

ENERGY

Nabors Invests in Ultra-Deep Geothermal Drilling Technology Innovator, GA Drilling

Nabors Industries | March 30, 2022

Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) adds to its clean energy portfolio with a USD $8 million investment in GA Drilling, a.s. ("GA Drilling"). This strategic investment expands Nabors' commitment to deep-drilling technologies tapping super-hot, ultra-deep rock reservoirs. GA Drilling, a geothermal technology company with headquarters in Bratislava, Slovakia, is a pioneer in plasma drilling. By integrating its innovative, contactless PLASMABIT® drilling tool into Nabors' industry-leading automated and lower-emission drilling operations, the collaboration aims to accelerate field commercialization and eliminate traditional economic barriers of ultra-deep projects to expand global access to geothermal energy. This agreement complements the pre-series investment round recently concluded by GA Drilling, with the total value of those new investments exceeding USD $20 million. Nabors has continued to implement its energy transition strategy targeted at high growth potential, lower-carbon energy markets. Through its investments in multiple clean energy ventures, Nabors has started to establish several ecosystems of complementary technologies that can benefit from synergies with Nabors' existing operations and competencies. GA Drilling joins Nabors' geothermal ecosystem, which is comprised of three other prior venture investments in geothermal companies. These technologies were purposefully assembled to help make geothermal energy widely accessible across geographies, while reducing cost per unit of energy generated to match the cost of other energy sources. Meeting Decarbonization Goals Geothermal energy is one of the only clean, renewable and reliable baseload energy sources; however, due to the limited geographical distribution of high-temperature gradients and high legacy drilling costs, its full potential remains largely untapped. PLASMABIT® is engineered to enable ultra-deep drilling in high-temperature hard formations at a cost comparable to unconventional horizontal drilling. Using an electric arc with a chemically assisted plasma pulse, this laboratory-proven bit aims to penetrate crystalline rock at high penetration rates, at depths exceeding 10 km (6.2 miles). Clean electricity is generated by producing water heated in the earth's crust and converting it to power at the surface. Building on a common technology ecosystem and infrastructure, and the ability to access geothermal almost anywhere, this solution should speed up and expand the availability of carbon-free fuel options for power generation. Management Comments "Now is the time to invest in innovative and bold geothermal solutions that have the potential to unlock terawatts of clean, renewable and reliable energy on a truly global scale. Given the expected sharp growth in global energy consumption over the next decades, the world will require an even sharper growth in sustainable energy supply. I am convinced that geothermal energy will be a key contributor to the necessary increase in clean energy generation. With our unmatched portfolio of drilling, automation and digitalization technologies, Nabors intends to become a key player in the upcoming expansion of geothermal energy. We look forward to leveraging the GA Drilling Centre of Excellence and integrating their technologies into our ecosystem." -Anthony G. Petrello, Nabors Chairman, CEO and President "We welcome Nabors not only as an investor but also as a strategic partner. The present agreement will allow us to move faster through the final stages of PLASMABIT® development, leveraging the synergies to integrate this revolutionary drilling tool into the systems of the rig. Nabors will introduce European high-technology capacities into the U.S. market. Together, we will work toward meeting imminent demand to rapidly diversify the global energy mix. With this collaboration, we have made another big step toward delivering on our promise of 'Geothermal Anywhere'." -Igor Kočiš, Founder and CEO of GA Drilling About Nabors Industries Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With operations in more than 15 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. About GA Drilling GA Drilling, with its patented PLASMABIT® technology, offers a solution for a local and independent source of electricity, heating, clean water, and food production in an unstable world. The company will provide scalable, modular, solutions to zero-carbon emissions energy production. Geothermal energy is the only renewable source of clean and baseload energy, available 24/7/365. It works regardless of weather conditions or the day-night cycle. PLASMABIT® brings a significant reduction in operational time and cost savings, drilling faster, deeper, and cheaper through any material, including hard rock and steel. The technology is the result of years of R&D, with 23 registered patents, supported by a full-time team of over 50 engineers and researchers, industrial funding, investors, some 20 EU research grants, and strategic technology development partnerships with drilling industry leaders from Europe, US, and Asia

Read More

SOLAR+STORAGE

SunPower Corporation Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - SPWR

Robbins Geller Rudman & Dowd LLP | February 21, 2022

The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers of SunPower Corporation securities between August 3, 2021 and January 20, 2022, inclusive have until April 18, 2022 to seek appointment as lead plaintiff in Jaszczyszyn v. SunPower Corporation, No. 22-cv-00956. Commenced on February 16, 2022, the SunPower class action lawsuit charges SunPower and certain of its top executives with violations of the Securities Exchange Act of 1934. Case Allegations SunPower is a solar energy company that provides hardware, software, and financing options for customers. The SunPower class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) certain connectors used by SunPower suffered from cracking issues; (ii) as a result, SunPower was reasonably likely to incur costs to remediate the faulty connectors; (iii) consequently, SunPower's financial results would be adversely impacted; and (iv) thus, defendants' positive statements about SunPower's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. On January 20, 2022, SunPower announced that it had "identified a cracking issue that developed over time in certain factory-installed connectors." SunPower "expects approximately $27 million of supplier-quality related charges in fourth quarter 2021 and approximately $4 million in the first quarter of 2022" to replace the faulty connectors. On this news, SunPower's share price fell nearly 17%, damaging investors. The Lead Plaintiff Process The Private Securities Litigation Reform Act of 1995 permits any investor who purchased SunPower securities during the Class Period to seek appointment as lead plaintiff in the SunPower class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class action lawsuit. An investor's ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. About Robbins Geller Rudman & Dowd LLP With 200 lawyers in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the largest U.S. law firm representing investors in securities class actions. Robbins Geller attorneys have obtained many of the largest shareholder recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for recovering $1.6 billion for investors that year, more than double the amount recovered by any other securities plaintiffs' firm.

Read More

PRODUCTS

Hyundai Partners with One Tree Planted to Restore Forests Nationwide

Hyundai | April 26, 2022

Hyundai Motor America announced a partnership with One Tree Planted, a nonprofit organization that focuses on global reforestation. Hyundai's donation will assist in the planting of 150,000 trees across the country throughout 2022, with the partnership kicking off on April 23 during a tree planting event at the iconic Golden Gate Park in San Francisco. The initiative is the latest to underscore Hyundai Motor's commitment to sustainability, mitigating environmental impacts caused by climate change and advancing its Progress for Humanity company vision. Hyundai is making significant investments in its journey toward electrification leadership, with plans to have 23 eco-friendly vehicles globally and one million electric vehicles by 2025, and a fully electrified vehicle lineup by 2040. "Hyundai is committed to the environment and innovative mobility solutions, This means creating a more sustainable future for everyone. It's critical to take care of our planet and One Tree Planted is a natural partner for us to further this mission." -Dana W. White, chief communications officer, Hyundai Motor North America. "One Tree Planted is proud to continue our partnership with Hyundai, which includes two IONIQ 5's they have generously donated to be part of the One Tree Planted fleet, With Hyundai's support, we are restoring vital ecosystems and empowering local communities across the United States. As the trees grow, they will combat the effects of climate change and create a brighter future for the next generation." -Matt Hill, Founder & Chief Environmental Evangelist at One Tree Planted. Hyundai Motor America Hyundai Motor America focuses on 'Progress for Humanity' and smart mobility solutions. Hyundai offers U.S. consumers a technology-rich lineup of cars, SUVs, and electrified vehicles. Our 820 dealers sold more than 620,000 vehicles in the U.S. in 2020, and nearly half were built at Hyundai Motor Manufacturing Alabama. About One Tree Planted One Tree Planted is a 501(c)(3) nonprofit on a mission to make it simple for anyone to help the environment by planting trees. Their projects span the globe and are done in partnership with local communities and knowledgeable experts to create an impact for nature, people, and wildlife. Reforestation helps to rebuild forests after fires and floods, provide jobs for social impact, and restore biodiversity. Many projects have overlapping objectives, creating a combination of benefits that contribute to the UN's Sustainable Development Goals.

Read More

Spotlight

The term “geothermal” means “Earth heat” or “heat of the Earth.” Energy from geothermal resources has benefited humankind from its earliest origins. Prehistoric civilizations used hot springs and steam discharges (fumaroles) for cooking, heating, and therapeutic bathing; in modern terms, these uses are known as geothermal direct-use applications. In the United States, geothermal energy has provided affordable, reliable, and renewable energy since the 1890s, when the city of Boise, Idaho, began using geothermal resources for direct heating of commercial and residential buildings (Mink 2017). Since then, use of geothermal energy in the United States has expanded to include utility-scale electricity production, distributed heating and cooling applications, and the augmentation of various industrial processes.

Resources