etasca on LinkedIn: #etasca #energy #renewables #hydrogen #doe #h2americas2024 (2024)

🎱 etasca’s 8 🎱 – Weekly Roundup1️⃣ TotalEnergies and Air Products signed a 15-year agreement to supply 70 000 tonsof green hydrogen annually to Europe from 2030, aiming to decarbonize TotalEnergies’ Northern European refineries and cut CO2 emissions by 700 000 tonsper year. 2️⃣ OMV has launched a newbrand focusing oncircularity and sustainability. CEO Alfred Stern emphasised that this transformation underscores OMV's ambition to achieve net-zero emissions by 2050 and implement a circular business model by 2030.3️⃣ Pittsburgh International Airport (PIT) and SkyClean US Energy Inc. will build a major sustainable aviation fuel (SAF) facility, making PIT the first US airport with on-site SAF production. It will initially produce 25 million gallons annually, potentially increasing to 75 million. PIT CEO Christina Cassotis stated, "SAF is of the utmost priority. Pittsburgh is leading the way toward a more sustainable future."4️⃣ Vecoplan AG has formed a strategic partnership withPla.to Technology to boost its plastic recycling expertise. At, IFAT, Vecoplan shared plans to improve the shredding andcleaningof used plastics, crucial for chemical recycling, using its 50-year experience as explained byMartina Schmidt, Head of recycling at Vecoplan. This partnership supports the EU’s goal to recycle 65% of packaging waste by 2025 and 70% by 2030.5️⃣ Siemens andBASF are collaborating to produce theSiemensSIRIUS 3RV2 circuit breaker using biomass-balanced plastics from BASF, potentially reducing emission by 720 tons annually. Siemen's CEO Andreas Matthe, expressed the partnership's vision in enhancing sustainability with BASF President Martin Jung emphasizing their mass balance approach, which replaces fossil raw materials with renewable alternatives, supporting the circular economy.6️⃣ Yara International has opened Europe’s largest electrolysis plant in Heroya, Norway, with a 24 MW capacity. Using renewable hydrogen, it will produce 20,000 metric tons of ammonia annually and reduce emission by 41000 metric tons per year compared to natural gas.7️⃣ TAE Technologies, Inc, a nuclear fusion pioneer, has partnered with Oxy's subsidiary, OXY-LOW B.V., to explore using fusion energy for direct air capture of CO2. TAE, backed by over $1 billion from investors like Goldman Sachs, and Chevron, aims to commercialize fusion energy. Occidental views fusion as key to powering its emissions-free direct air capture facilities.8️⃣ Neste, Covestro, and Boralis BV collaborate to recycle tires into premium plastics for the automotive industry using chemical recycling. During the process, tires are converted into base chemicals and polycarbonates essential for manufacturing headlights and grilles. Dr. Guido Naberfeld of Covestro highlights the circularity of the project, turning car waste into new components, meeting EU End-of-Life Vehicles directives effectively.

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etasca was privileged to be in attendance at TXF Global 2024 in Athens this week, where the gods of export finance gathered and energy transition topics were at the fore.Here’s etasca’s 8 conference takeaways:1️⃣ Multiple ECAs indicated that they are now willing to finance projects with reduced or zero domestic content, if shown to benefit domestic exports or in the case of Export and Investment Fund of Denmark reduce domestic scope 3 emissions.2️⃣ Likewise, many ECAs such as Korea Trade Insurance Corporation (Ksure) and EKN Exportkreditnämnden they will raise the coverage limit where the project aids the energy transition, lowering the bankability hurdle.3️⃣ Andreas Klasen interrogated the heads of the net-zero ECA alliance (NZECA) whose members will end direct support for the fossil fuel sector by next year – Peter Boeskov declared the importance to lead by example, whilst Magnus Montan wondered what the other ECAs were waiting for to join?🤔 4️⃣ Eng. Saad Alkhalb of Saudi EXIM Bank and Raja Al Mazrouei of Etihad Credit Insurance (ECI) outlined how the ECAs of these historically fossil fuel-reliant countries are focussed solely on non-oil sectors.ECI has committed $500 million in credit insurance to African projects as part of the UAE's Africa Green Investment Initiative.5️⃣ Global finance heads agreed that Europe will remain the main destination for ECA finance for now, however Manav Futnani of HSBC was adamant the Middle East would take the lead imminently due to the vast number of Saudi deals in development, stating that if half of the pipeline manifests there is not enough capacity to finance this!😲6️⃣ Malick Ba, MBA and Ismael Nabe of the governments of Senegal and Guinea outlined how their countries are making great leaps in the energy transition, with large-scale electric transportation systems and development of hydroelectric and solar projects.However, there were also calls for increased grants for the energy transition, as well as more flexibility from ECAs and DFIs toward oil and gas projects in the developing world.7️⃣ Dr. Georg Bauer of Siemens Energy and Uday Mathur of GE Vernova supported this, and were clear they believe ECAs should still be sponsoring gas projects as part of the transition – unclear as to why these would not be financed in Africa while e.g., Germany is building gas plants at home, particularly as gas power plants can incorporate a proportion of hydrogen.8️⃣ The expanding role of ECAs with time was highlighted by contributors including Bert Bruning of Atradius and Yeliz Tufekcioglu Kucukaltan of SACE – having initially been established to support exports, the function for many now also includes securing import of critical materials, supporting exports to Ukraine 🇺🇦, and supporting energy transition projects which would otherwise not be considered bankable due to high capex and technology scale-up risks.Congratulations to the Exile Group organising committee on a fantastic event!

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🎱 etasca’s 8 🎱 – Weekly Roundup1️⃣ Abu Dhabi’sADNOC Logistics and Services is set to acquire maritime logistics firmNavig8 Group for $1.5billion.The deal includes Navig8’s 32 tankers. ADNOC L&S aims to invest over $5 billion in maritime logistics.2️⃣ French battery start-up Verkor has secured over $1.4billion in green financing for its first gigafactory in Dunkirk, set to be operational in 2025 with an initial production capacity of 16 GWh/year. Verkor’s gigafactory will supply batteries toRenault Group. 3️⃣ SkyNRG's Project Runway facilitatesaccess to sustainable aviation fuel (SAF). They have now launchedacollaboration with MicrosoftforBook and Claim, sharing SAF costs and promoting market growth. 4️⃣ Germany has authorized the sale of HVO100(that is 100 percent hydrogenated vegetable oil, rather thanthelower concentration blends seen in other countries).Made from vegetable oils and animal fats, HVO100is a renewable diesel seen as a quick and accessible way to reduce road transport emissions.5️⃣ Evonik has finished its industrial-scale facility for sustainable biosurfactants in Slovakia ahead of schedule. This plant, the first to produce rhamnolipid*biosurfactants on a large-scale, addresses the growing demand for biobased, biodegradable cleaning and personal care products. 6️⃣ BASFhas soldits San Diego-based bioenergy enzymes business, including the Spartec® product portfolio and technologies, to Lallemand’s subsidiaries, having all business activities transferred on the 1st of June. This acquisition, commended by LBDS President Daniel Wilms , strengthens LBDS’s capabilities in the ethanol and alcohol industries.7️⃣ Trillium Renewable Chemicals has chosenINEOS Green Lake to host the first demonstration plant for converting plant-based glycerol into acrylonitrile, aiming for significant greenhouse gas reduction. Scheduled to start in early 2025 in Port Lavaca, Texas, this project utilizesINEOS’stechnology expertise and marks a step towards sustainable acrylonitrile production.8️⃣ TotalEnergies andAir Products have signed a 15-year agreement for 70000 tonof green hydrogen annually, starting in 2030, to decarbonize TotalEnergies' European refineries. This partnership aims to reduce CO2 emissions by 700000 tons yearly and includes a memorandum for renewable power projects, beginning with a150MW solar project in Texas.Well done Seifi Ghasemi and Patrick Pouyanné.*Rhamnolipids are a class of biosurfactants which contain rhamnose as the sugar moiety linked to β-hydroxylated fatty acid chains 🙃

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意塔斯卡荣幸参加由 Internnel 和 iod 中国集团组织的中国湖北省与英国签署协议，以促进更大的经济和贸易合作。能源转型在湖北经济发展中发挥着关键作用。以下是意塔斯卡了解到的八件事:etasca was honoured to be at the signing ceremony between the Chinese Hubei province and the UK, fostering greater economic and trade collaboration - organised byInternneland the IoD China Group. The energy transition is playing a key role in Hubei's economic development. Here's eight things we learned:1️⃣ Solvay has licensed its advanced hydrogen peroxide (H2O2) technology to Hubei Sanning Chemical Industry Co., Ltd. for a 500 kt/year caprolactam plant (plant used to make nylon 6)providingproprietary chemicals.2️⃣ A 300 MW compressed air energy storage station began operations in Hubei Province, China, in April 2024. It stores air in an underground cavern during low demand and releases it to generate power during high demand, producing 500 million kWh annually, effectively acting as a "superpower bank."3️⃣ Keith Bennett delivered an opening speech celebrating the sister city relationship between Wuhan and Manchester- two great industrial centres. Both cities share a mutual affection for Manchester United!4️⃣ Zhou Jun, a representative of Hubei United Investment Group, highlighted the Belgium-China Science and Technology Parkin Louvain-la-Neuve, Belgiumas a platform for fostering innovation and cooperation betweenChina and the West.5️⃣ Cheng Tong stressed Hubei International Economic and Technical Cooperation's strong focus on global partnerships, notinganetwork spanning 38 countries. Heexpressedthese international alliances as crucial for Hubei's economic expansion and integration into the global market.6️⃣ Datang Hubei Energy Development is building a $30 million, 50MW/100MWh sodium-ion battery energy storage system in Hubei, China-to be completed by the end of 2024. This project, part of a national push for advanced energy storage solutions, offers an alternative to lithium-ion batteries.7️⃣ The growing electric vehicle (EV) market in China, as Zhan Jianbo from Hubei International Trade Group Import and Export pointed out, isgrowing and is a critical part of the Hubei and UK economy.8️⃣ Ben Payne, VP of Design at Group Lotus, expressed the vital impact of strong China-West relations on the EV industry, exemplified by China's Geely acquiring British sports car maker Lotus.

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