Green Markets - December 3, 2024
News in environmental markets.
Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.
General Environmental/Regulatory
The European Commission has committed €4.6 billion to cleantech projects, funded through the EU Emissions Trading System (ETS). This includes €2.4 billion for net-zero technologies like renewable energy components and hydrogen production, €1 billion for electric vehicle battery cell manufacturing, and €1.2 billion to accelerate renewable hydrogen production through the European Hydrogen Bank.
Biofuels/Chemicals
Aramco, TotalEnergies, and Saudi Investment Recycling Company (SIRC) have signed an agreement to explore developing a SAF unit in Saudi Arabia, leveraging local residues like used cooking oil and animal fats.
Renewable energy company RES has sold its green hydrogen and synthetic SAF project in northern Sweden to Prime Energy Infrastructure Fund II, managed by Germany's Prime Capital AG. The project will produce eSAF by combining green hydrogen with captured carbon dioxide.
Related Stock List(s): Biofuels & Chemicals Stocks
Energy Efficiency
The U.S. Department of Energy has proposed a $7.54 billion conditional loan to support StarPlus Energy, a joint venture between Stellantis and Samsung SDI, in constructing two advanced lithium-ion battery plants in Kokomo, Indiana. These facilities are set to produce 67 GWh of batteries annually by 2027.
Related Stock List(s): Energy Efficiency Stocks
Hydrogen
Air Liquide is set to build a renewable hydrogen production facility at La Mède, France. The €80 million facility, operational by 2028, will produce 25,000 tons of hydrogen annually using recycled biogenic by-products, supporting the production of biofuels and sustainable aviation fuels (SAF). The initiative strengthens the ongoing collaboration between Air Liquide and TotalEnergies in advancing the energy transition.
Related Stock List(s): Hydrogen Stocks
Renewable Energy
TotalEnergies is reportedly nearing a €2 billion ($2.1 billion) deal to acquire Germany-based renewable energy developer VSB Group from private equity firm Partners Group. According to Bloomberg, the deal is in advanced stages, but there aren’t any firm commitments yet.