Green Markets - December 10, 2024

Dec 11, 2024

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

The global lithium supply surplus is expected to persist through 2027. Despite a significant drop in lithium prices— nearly 90% since December 2022… many lithium mines, particularly those operated by Chinese firms, are maintaining production. This is due to the strategic importance of securing raw materials for the EV and battery industries, with some battery makers even injecting funds into loss-making mines to keep them operational.

The International Air Transport Association (IATA) has reported that while SAF production reached 1 million tonnes in 2024… it’s still below expectations and accounts for only 0.3% of global jet fuel supply. To achieve net-zero emissions by 2050, IATA estimates that 3,000 to 6,500 new renewable fuel plants will be required. The slow SAF growth is attributed to mixed government policies, slow investments, and continued fossil fuel subsidies, with IATA calling for stronger incentives to accelerate renewable energy production.

PyroNam and the German non-profit atmosfair have partnered to scale biochar-based carbon dioxide removal (CDR) in Namibia. Their first project, located at the Nog Verder Farm in the Otjozondjupa region, will produce over 1,000 tons of biochar annually from sustainably sourced bush cuttings. The project is under development, with PyroCCS’ low-emission SCB technology being installed. By 2030, they plan to scale up to over 400 plants.
Equinor, BP, and TotalEnergies have announced the final investment decision for two major carbon capture and storage (CCS) projects in northern England. These projects are part of the Northern Endurance Partnership (NEP), which will permanently store up to 4 million tonnes of CO2 annually. Equinor holds a 45% stake in NEP, with BP also at 45% and TotalEnergies holding 10%.

Related Stock List(s): Carbon Capture Stocks

Huawei has secured an agreement to supply a 4.5 GWh battery energy storage system (BESS) for the Meralco Terra Solar project in the Philippines.

Air Liquide has received a €110 million grant from the European Innovation Fund to develop its ENHANCE project in Antwerp-Bruges, Belgium. The project aims to produce and distribute renewable hydrogen derived from ammonia. Air Liquide will build a large-scale ammonia cracking plant and hydrogen liquefier.

Related Stock List(s): Hydrogen Stocks

The U.S. Department of Energy (DOE) has selected six companies to compete for contracts totaling $2.7 billion to supply low-enriched uranium (LEU) to the U.S. nuclear power fleet. The firms include: American Centrifuge Operating LLC; General Matter Inc; Global Laser Enrichment LLC; Louisiana Energy Services LLC; Laser Isotope Separation Technologies Inc; and Orano Federal Services LLC.

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