Green Markets - August 30, 2024

Aug 30, 2024

Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.

The UAE's Ministry of Energy and Infrastructure (MoEI) and Ras Al Khaimah Petroleum Authority (RAKPA) have signed a Memorandum of Understanding (MoU) to advance sustainable energy initiatives. The partnership focuses on natural hydrogen, carbon capture, and geothermal energy to support the UAE’s goal of achieving net-zero emissions by 2050.

Koch Ag & Energy Solutions (KAES) has completed its $3.6 billion acquisition of OCI Global's fertilizer plant in Wever, Iowa. The plant, operational since 2017, has a production capacity of 3.5 million metric tons of nitrogen fertilizers and diesel exhaust fluid annually.

The Biden administration is considering implementing a price support mechanism to stabilize the market for critical minerals, such as lithium, which have recently seen price declines due to an oversupply from China. The proposed policy would set a price floor, with the government covering the difference if market prices fall below this threshold for U.S.-produced minerals.

The Biden-Harris Administration has announced nearly $300 million in grants from the Inflation Reduction Act to advance sustainable aviation fuels (SAF) and related technologies. The Federal Aviation Administration (FAA) is distributing $244.5 million to expand SAF production and infrastructure and $46.5 million for low-emission aviation technologies.

TotalEnergies has signed a $100 million agreement with Anew Climate and Aurora Sustainable Lands to preserve 300,000 hectares of U.S. forests, aiming to offset its carbon emissions. This initiative, which aligns with U.S. government guidelines for VCMs, will sequester CO2 through reduced timber harvesting. The investment supports TotalEnergies' goal to spend $100 million annually on projects that offset at least 5 million metric tons of CO2 by 2030.

Related Stock List(s): Carbon Credit Stocks

Babcock & Wilcox is investing $125 million in a new energy production facility in Mason County, West Virginia, focusing on its BrightLoop™ low-carbon hydrogen technology. This innovative technology uses a chemical looping process to produce low-carbon hydrogen, steam, or syngas while capturing and storing CO2, applicable across various industries including coal power, waste utilization, and biomass energy production.

Related Stock List(s): Hydrogen Stocks

COSCO has placed a $2.15 billion order for new methanol dual-fuel containerships to enhance its Latin America service, reflecting its ongoing commitment to methanol despite recent industry concerns. The new vessels, designed by COSCO in collaboration with China Shipbuilding and Ocean Engineering Design and Research Institute, are scheduled for delivery between May 2027 and March 2029.

Related Stock List(s): LNG Stocks

The U.S. Bureau of Land Management (BLM) has updated its Western Solar Plan, proposing to open over 31 million acres of public land across 11 states for utility-scale solar development, expanding the initial proposal by 9 million acres. This move aims to accelerate solar permitting by guiding projects away from areas with environmental conflicts.

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