Green Markets - September 4, 2024

Sep 04, 2024

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

Turkey is seeking a partnership with China to develop and process its newly discovered rare earth minerals deposits. The country plans to establish a complete value chain from extraction to production, appealing to major Chinese manufacturers like BYD.

Abu Dhabi National Oil Co. (ADNOC) will acquire a 35% stake in Exxon Mobil’s proposed low-carbon hydrogen and ammonia production facility in Baytown, Texas. The facility aims to produce up to 1 billion cubic feet of hydrogen daily and over 1 million tons of low-carbon ammonia annually, contingent on regulatory permits and supportive government policies. The project is slated for a final investment decision in 2025, with startup anticipated in 2029. The facility will also benefit from a partnership with Air Liquide, which will provide essential gases and infrastructure.

The U.S. Department of Energy (DOE) has announced up to $500 million in funding to expand carbon dioxide (CO2) transportation infrastructure. The funding, under the Carbon Dioxide Transportation Infrastructure Finance and Innovation (CIFIA) program, will support the development of CO2 transport systems like pipelines, rail, trucks, and ships.
Cory, a UK waste management company, has partnered with Shell Catalysts & Technologies and Technip Energies to advance its carbon capture and storage (CCS) project. The initiative aims to achieve net-zero emissions by 2030 and will use Shell's CO2 Capture System to capture approximately 1.4 million tons of CO2 per year from Cory’s energy-from-waste plants in Southeast London.

Related Stock List(s): Carbon Capture Stocks

Volvo has abandoned its target of becoming fully electric by 2030, now planning to offer a mix of fully electric, plug-in hybrid, and mild hybrid models. The shift reflects slowing EV demand due to high costs, limited charging infrastructure, and anticipated European tariffs on China-made electric cars. Volvo’s strategic pivot includes revamping its hybrid lineup, emphasizing plug-in hybrids as a key driver of future profit growth.

HTEC is investing $1 billion in British Columbia to build a comprehensive hydrogen transportation ecosystem, including three hydrogen production facilities, a liquefaction plant, and 20 refuelling stations. The company also plans to deploy 100 hydrogen fuel-cell trucks through a new subsidiary, Vehicle Leasing Corp. The project is supported by a $337 million loan from the Canada Infrastructure Bank.
Canada is investing C$300 million to support hydrogen exports to Germany as part of a broader Canada-Germany Hydrogen Alliance, aiming to develop a hydrogen industry in Atlantic Canada. The funding will help bridge the gap between the sale and purchase price of hydrogen and facilitate the establishment of necessary infrastructure for hydrogen production and export.

Related Stock List(s): Hydrogen Stocks

Poland's Orlen has signed a five-year deal with Lithuania's KN Energies for exclusive use of the Klaipeda LNG trans-shipment station. The agreement will facilitate small-scale LNG supply to northeastern Poland and Baltic countries like Lithuania, Latvia, and Estonia, optimizing logistics and reducing costs. Additionally, Orlen plans to invest €970 million in refining upgrades in Lithuania and explore opportunities in green hydrogen production.
Santos has signed a mid-term LNG supply contract with Glencore Singapore, committing to supply approximately 0.5 million tonnes per annum over three years, equivalent to around 19 LNG cargoes. The supply will commence in Q4 2025 from Santos' global portfolio.

Related Stock List(s): LNG Stocks

Orano, France’s state-owned nuclear fuel company, has selected Oak Ridge, Tennessee, as the site for a new multi-billion dollar uranium enrichment plant aimed at reducing U.S. dependence on Russian uranium. This project aligns with recent U.S. legislation banning Russian uranium imports and allocating $2.7 billion to boost domestic production.

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