Green Markets - August 8, 2024
News in environmental markets.
Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.
Voluntary Carbon Markets (VCMs)
The Carbon Removal Standards Initiative (CRSI) is a new nonprofit launched to enhance the rigor and accountability of carbon dioxide removal (CDR) practices. The initiative aims to provide policymakers and regulators with unbiased advice and technical support to develop science-based standards for CDR, focusing on quantification and transparency. Funded by organizations like Carbon180, Breakthrough Energy, and Outlier Projects, CRSI operates independently and does not accept corporate donations, ensuring its recommendations are not influenced by profit motives.
Related Stock List(s): Carbon Credit Stocks
Hydrogen
Splitwaters, a US-based specialist in electrolyzers, has partnered with Oriana Power, a major player in India's renewable energy sector, to develop green hydrogen facilities in India. This strategic alliance aims to cut CAPEX costs by up to 30% through the use of Splitwaters' efficient modular technology and Oriana Power's local expertise and EPC services. The partnership will also involve setting up a green hydrogen production unit in India to demonstrate the technology and boost adoption.
Related Stock List(s): Hydrogen Stocks
Liquified Natural Gas (LNG)
Gasum and Equinor are advancing bio-LNG operations with recent bunkering activities at the Port of Dusavik in Norway. The initiative includes supplying the offshore supply vessel, Island Crusader, with bio-LNG.
Excelerate Energy is advancing its LNG infrastructure with plans to establish a floating storage and regasification unit (FSRU) terminal in Southcentral Alaska and develop an onshore LNG import terminal in Haiphong, Vietnam. The Alaskan facility aims to start operations in 2028, while the Vietnamese terminal is set for a phased opening beginning in 2027.
Related Stock List(s): LNG Stocks
Renewable Energy
The U.S. Department of Energy has announced a conditional commitment for a $1.45 billion loan guarantee to Qcells to support its new solar manufacturing facility in Cartersville, Georgia. This facility will produce solar ingots, wafers, cells, and panels, and is expected to be the largest of its kind in the U.S., generating 3.3 GW of solar panels annually.