Green Markets - December 12, 2024

Dec 12, 2024

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

Rio Tinto is expanding its lithium operations in South America, including a $2.5 billion investment to boost capacity at its Rincon salt flat project in Argentina to 60,000 metric tons. Construction will begin in mid-2025, with initial production expected by 2028. A completed starter plant has already produced its first ton of lithium using direct lithium extraction (DLE) technology.

The Roxana RNG facility in Illinois, developed by Ameresco and Republic Services, has begun commercial operations. The plant converts landfill gas into pipeline-quality renewable natural gas (RNG). Processing 6,000 scfm of raw landfill gas, the facility is among North America's largest.

Google has signed a landmark agreement with Enhanced Rock Weathering (ERW) startup Terradot to purchase 200,000 tonnes of carbon removal credits by 2029, its largest carbon removal deal to date. The company has raised $54 million in Series A funding and is scaling operations in Brazil.

Related Stock List(s): Carbon Credit Stocks

The California Energy Commission has approved a $1.4 billion investment plan to deploy nearly 17,000 EV chargers and hydrogen refueling stations over four years. This initiative aims to expand California's current 152,000 public and shared private chargers to 250,000.
EVgo has secured a $1.25 billion loan facility guaranteed by the U.S. Department of Energy under its Title 17 Clean Energy Financing Program. The funds will support the construction of 7,500 high-power fast-charging stalls nationwide, tripling EVgo’s network to at least 10,000 stalls by 2029. EVgo also plans to introduce next-generation charging architecture in 2026.

Stellantis and CATL are launching a €4.1 billion joint venture to build a lithium iron phosphate (LFP) battery plant in Zaragoza, Spain, with a production capacity of up to 50 GWh. This facility is set to begin operations by the end of 2026.

DWS Group has raised €323 million ($340 million) for the first close of its ESG Infrastructure Debt Strategy (EIDS), which will focus on senior secured debt investments in sustainability-themed sectors such as renewable energy, energy efficiency, clean transportation, and circular economy projects. The firm aims to raise a total of €500 to €750 million for the strategy.

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