Green Markets - December 11, 2024

Dec 12, 2024

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

The U.S. Energy Department's Loan Programs Office, boosted by $400 billion in funding from the 2022 Inflation Reduction Act (IRA), has allocated only $10 billion to clean energy projects so far. With a future Trump administration looming, the race is on to use these funds before they could be lost. Loans have supported solar panel manufacturing, battery production, and nuclear plant refurbishments, but the approval process remains slow due to cautious evaluations and scrutiny from Senate Republicans. Over 200 applications totaling $281 billion are under review.

LF Bioenergy is expanding its renewable natural gas operations with four new facilities in Texas and two more under construction across the U.S. The firm’s approach also offers farmers additional revenue streams, helps with manure management, improves soil and water quality, and cuts costs on fertilizers.

General Motors' decision to shut down its Cruise robotaxi business highlights the challenges of scaling autonomous vehicle technology, even with significant investment. Despite nearly $10 billion in funding, Cruise struggled with financial losses and a high-profile safety incident in 2023. GM is now refocusing on its Super Cruise driver-assistance system, while competitors like Waymo, Tesla, and Zoox continue to push forward in the autonomous vehicle space.

QatarEnergy has completed its historic 128-vessel LNG fleet expansion by awarding contracts for six QC-Max LNG carriers to a joint venture between Japan's MOL and China's COSCO. The vessels will be built by Hudong-Zhonghua Shipbuilding, part of China State Shipbuilding Corporation. This program includes 24 QC-Max mega vessels, a $6 billion agreement for 18 carriers, and replacements for older ships.

Related Stock List(s): LNG Stocks

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