Green Markets - June 19, 2024

Jun 20, 2024

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

The Global Environmental Facility (GEF) Council has approved a $500M spending package on environmental projects, with $170M slated for preventing biodiversity losses.
The EU and China recently agreed to cooperate on emissions trading as a tool to reach net zero emissions.
According to the Mercator Research Institute on Global Commons and Climate Change (MCC), Germany’s Climate and Transformation Fund is nearing a funding crisis. The government will need to determine how to proceed.
The National Fish and Wildlife Foundation (NFWF) recently announced $33.5M in conservation grants for the Longleaf Landscape Stewardship Fund (LLSF), which will restore pine forests in eight U.S. states.

Chinese warehouses have seen the largest supply glut of copper in four years as inventories continue to build. Copper stocks in the Shanghai Futures Exchange warehouses are at the highest levels they’ve seen since 2020 at approximately 330,000 tonnes this month.

The European Biogas Association estimates that by 2030, the European biomethane sector will receive approximately $27B in new investment. This represents a 30% increase from last year's estimates.
Archea Energy, a subsidiary of BP, and Republic Services have opened the first renewable natural gas plant in their collective Lighting Renewables joint venture. The plant is in Fort Wayne, Indiana, and is just one of forty future projects in the partnership.
Plastic 2 Green, a converter of plastic waste into ammonia, has signed a memorandum of understanding with Amogy, a company that converts ammonia into electricity. The two companies will explore their natural synergies to potentially use Amogy’s power systems as a backup power source for Plastic 2 Green’s facilities.
Gás Verde, Brazil’s largest biomethane producer, is set to build the country's first biomethane refueling station.
Indian Oil Corporation is entering a joint venture with GPS Renewables to create new sustainable energy solutions in India. The partnership will focus on exploring possibilities in the biofuels space.

Skytree, a direct air capture (DAC) operator, is partnering with Purolite, a manufacturer of purification resins, to potentially improve the effectiveness of DAC technology.
Carbonethic, a carbon capture company, is teaming up with the Dease River First Nation to launch a forest management initiative near the Dease Lake in British Columbia, Canada. The project spans 1.1M hectares of forest.
Capture6, a carbon removal firm, and Veolia Water Technologies & Solutions are collaborating on a solution to reduce water waste in the direct air capture process.

The New Zealand Emissions Trading System (ETS) has had its carbon permit auction go bidless, as allowances are currently trading below the auction’s price floor in the ETS.

BioCarbon Partners, a carbon project developer, is planning to develop a new large-scale avoided deforestation (REDD) project in Mozambique. The project is expected to span 4M hectares of forest.

Hyundai is launching two new electric vehicles in Europe: a low-cost vehicle and another IONIQ model.

Battery storage developer Jupiter Power is planning to construct a 700 MW battery energy storage system (BESS) facility in Massachusetts on the site of a former ExxonMobil oil depot.
Lithium-ion battery producer Northvolt is reviewing the possibility of building a new gigafactory plant in Borlange, Sweden.

Topsoe, ABB, and Flour are forming an alliance to develop a new Solid Oxide Electrolysis Cells (SOEC) factory in Virginia, U.S. The electrolyzer built in this facility would produce green hydrogen.
Lhyfe, a green hydrogen producer, and Deutsche Bahn are exploring the possibility of developing carbon-neutral trains powered by hydrogen.
South Korea is set to build its first nuclear-powered hydrogen project by 2027, using eight different construction companies. The project is partially funded by $21M of government funding from the Ministry of Energy, Trade and Industry.
Rely, a joint venture between Technip Energies and John Cockerill, is launching Clear100+, a configurable plant designed to produce green hydrogen with significant reductions in CAPEX and OPEX.
Nine gas transmission system operators around the Baltic Sea region have signed a collective memorandum of understanding to coordinate and build new hydrogen infrastructure.
- The nine companies include Germany’s Gascade, fellow German TSO Ontras Gastransport, Poland’s Gaz-System, Estonia’s Elering, Energinet in Denmark, Finnish TSO Gasgrid Vetyverkot, Lithuania’s Amber Grid, Nordion Energi in Sweden, and Latvia’s Conexus Baltic Grid.

Japanese LNG imports rose by 5.6% year-over-year in May— for the second month in a row, 4.87M tonnes of LNG in total. While on an uptrend recently, this number is down from 6.1M tonnes of LNG imported in January.
French shipping giant CMA GGM has signed a letter of intent with shipbuilder HP Hyundai Samho to order six LNG dual-fuel containerships.
Shell is set to deliver its first LNG cargo in a 12-year supply contract with Morocco’s national electricity authority within the month.
The Golden Pass LNG export facility is warning of potential additional costs and delays thanks to the bankruptcy of its previous main developer, Zachry Industrial.

The U.S. Senate just passed a bipartisan bill on nuclear power set to reduce the regulatory burden on developing new nuclear energy plants. The bill is on the way to the Biden administration to sign.

Octopus Energy Group, a renewable energy producer, is entering the U.S. renewables market for the first time, acquiring two solar farms from Vesper Energy Development.
AES Corporation has launched the first utility-scale wind farm in Mississippi. The wind farm will supply power to Amazon for its regional data centers in the area.

The U.S. Bureau of Reclamation has announced nearly $100M in funding for Pure Water Southern California to boost water recycling efforts in the region.

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