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☆ Wooden turbine towers could make wind power even greener
▼ + stars: | 2024-04-10 | by ( Arya Jyothi | ) edition.cnn.com time to read: +6 min

Swedish company Modvion believes it has found a greener alternative — building turbine towers from wood. ModvionAccording to Otto Lundman, co-founder and CEO of Modvion, using wooden towers reduces the lifecycle emissions of a wind turbine by over 25%, and by 90% if you only compare the tower component of the turbine. He adds that if you take into account the carbon dioxide absorbed by trees when they grow, the wooden towers can be considered to store more carbon that they emit. In 2023 the company installed its first commercial two-megawatt unit, a 105-meter-high (345 feet) wooden turbine tower, called Wind of Change, outside Skara, Sweden, for electric utility company Varberg Energi. “But in wind power standards, wood is not really considered for the towers, it’s mostly steel and concrete.

Persons: Modvion, Otto Lundman, Lundman, David Olivegren, Wood, ”, Abbas Kazemi Amiri, Amiri, “, Paul Wennerholm Organizations: CNN, Swedish Energy Agency, Wind Energy, Control, University of Strathclyde, Voodin Blades Locations: Sweden, Skara, University of Strathclyde , Glasgow

☆ Energy Dept. Awards $6 Billion for Green Steel, Cement and Even Macaroni Factories
▼ + stars: | 2024-03-25 | by ( Brad Plumer | ) www.nytimes.com time to read: +1 min

The Biden administration plans to spend up to $6 billion on new technologies to cut carbon dioxide emissions from heavy industries like steel, cement, chemicals and aluminum, which are all enormous contributors to global warming but which have so far been incredibly difficult to clean up. Energy Secretary Jennifer Granholm said Monday that her agency would partially fund 33 different projects in 20 states to test methods for curbing emissions from a wide variety of factories and industrial plants, calling it “the single largest industrial decarbonization investment in American history.”Constellium, an aluminum producer, would receive up to $75 million to build a first-of-a-kind aluminum casting plant in Ravenswood, W.Va., that can run on cleaner burning hydrogen fuels rather than natural gas. Kraft Heinz, a food manufacturer, would get up to $170.9 million to install electric boilers and heat pumps at 10 facilities across the country, where they would be used to generate the large amounts of heat needed for things like drying macaroni without directly burning fossil fuels.

Persons: Jennifer Granholm, ”, Kraft Heinz Organizations: Biden, Energy Locations: Ravenswood, W.Va

Political Cartoons View All 253 ImagesThe news is a major blow to Port Talbot, a town of about 35,000 people whose economy has been built on the steel industry since the early 1900s. At its height in the 1960s, the Port Talbot steelworks employed around 20,000 people, before cheaper offerings from China and other countries hit production. More than 300,000 people worked in Britain’s steel industry in 1971; by 2021 it was about 26,000. Last year the U.K. government gave Tata up to 500 million pounds ($634 million) to make the Port Talbot steelworks greener. “We saw it with the coal industry and now it is happening again with the steel industry.

Persons: ”, T.V, Narendran, Port, Tata, “, Tata's, Anthony Slaughter Organizations: Tata Steel, Tata, ” Tata Steel, Unions, Port Talbot, Commons Library, Community, Green Party Locations: Port Talbot, Wales, China, Port

Fortescue approved investments in the U.S. hydrogen hub in Phoenix, Arizona; the Gladstone 50 megawatt green hydrogen project in Queensland, Australia; and the Christmas Creek green iron trial commercial plant in Western Australia. About $550 million will be used for developing an electrolyser and liquefaction facility in Phoenix, where first production of liquid green hydrogen is targeted for 2026. I think some of the market's concerns will be allayed because the capital investment required is pretty minimal in the scheme of things." Under a plan to ramp up its green energy business, Fortescue said in August it would stop allocating 10% of its net profit to that unit. Fortescue shares were up 1% on Tuesday in a strong market for iron ore miners, with peers BHP (BHP.AX) and Rio Tinto (RIO.AX) up 1.5% and 2% respectively.

Persons: Melanie Burton, Australia's Fortescue, Fortescue, David Coates, BHP, Himanshi, Richard Chang, Clarence Fernandez Organizations: Fortescue Metals Group, REUTERS, Arizona, MELBOURNE, Gladstone, Fortescue Energy, Fortescue, Rio Tinto, Thomson Locations: Pilbara, Port Hedland, Western Australia, U.S, Phoenix , Arizona, Queensland, Australia, Phoenix, Brazil, Kenya, Norway, BellPotter, Sydney, Michigan, New York, Rio, Bengaluru

The economy and finance ministry declined immediate comment. "So the ruling could have a negative impact on economic growth," the source added. Last month, the economy ministry predicted 1.3% growth for next year. Although the Greens want additional spending, the Free Democrats (FDP), which heads the finance ministry, reject additional debt and higher taxes. "There is a clear political decision in favour of Intel and nothing has changed yet," said an economy ministry spokesperson on Friday.

Persons: Liesa, Olaf Scholz's, Christian Lindner, Chancellor Olaf Scholz's, Joerg Kraemer, Robert Habeck, Habeck, Friedrich Merz, Christian Haase, Commerzbank's Kraemer, Maria Martinez, Andreas Rinke, Holger Hansen, Christian Kraemer, Madeline Chambers, Matthias Williams, Clarence Fernandez, Gerry Doyle, David Evans Organizations: REUTERS, Rights, Thursday, Greens, Free Democrats, Transformation, Intel, U.S, Christian Democratic Union, ESF, Economic, Stabilization, Thomson Locations: Berlin, Germany, Europe's

Underscoring the frustration, Economy Minister Robert Habeck, a member of the pro-spending Greens, called the verdict "a huge blow to industrial policy". Speaking to parliament, Habeck warned the court ruling put at risk support for the steel sector, which is counting on subsidies to decarbonise and stay competitive. Finance Minister Christian Lindner meanwhile said it was too early to discuss the consequences of the court ruling. "The steel industry alone can contribute to reducing a third of total industrial emissions - and thus has enormous leverage to save millions of tons of CO2 in the coming years." "The political bottom line is that many coalition disputes will reopen as serious budget constraints kick in.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, BERLIN, Wednesday's, Chancellor Olaf Scholz, Habeck, Yesenn, DBRS Morningstar, hawkish Lindner, Lindner, Bernhard Osburg, Carsten Brzeski, Eurointelligence, Maria Martinez, Christian Kraemer, Andreas Rinke, Markus Wacket, Tom Kaeckenhoff, Matthias Williams, Alexandra Hudson, Susan Fenton Organizations: Finance, Climate, Economy, Greens, CHANGE, Budget, European Central Bank, Thomson Locations: United States, Berlin, Germany

☆ China objects to US proposal for APEC trade and investment policies -source
▼ + stars: | 2023-11-15 | by ( David Lawder | ) www.reuters.com time to read: +2 min

[1/2] U.S. Trade Representative Ambassador Katherine Tai speaks during an APEC Ministerial Meeting (AMM) Opening Session in San Francisco, California, U.S., November 15, 2023. REUTERS/Brittany Hosea-Small Acquire Licensing RightsSAN FRANCISCO, Nov 15 (Reuters) - China is objecting to a U.S. proposal for Asia Pacific Economic Cooperation members to incorporate sustainability and inclusivity into their trade and investment policies, a source briefed on the negotiations said on Wednesday. Talks on the issue were continuing at the APEC summit in San Francisco to try to find language that the group's 21 member states could agree on, the source said. U.S. Trade Representative Katherine Tai told a trade-focused plenary meeting she hoped the proposal, dubbed by the Biden administration as the "San Francisco Principles for Integrating Inclusivity and Sustainability into Trade and Investment Policy" could be still be finalized. Nonetheless, I remain optimistic that economies will finalize the San Francisco Principles soon."

Persons: Katherine Tai, Brittany Hosea, Biden, Tai, Joe Biden, Xi Jinping, David Lawder, Jonathan Oatis Organizations: . Trade, REUTERS, FRANCISCO, Asia Pacific Economic Cooperation, APEC, San Francisco, Trade, Investment, European Union, Thomson Locations: San Francisco , California, U.S, China, San Francisco

☆ Climate tech is like catnip to investors. Here's why the $13 billion sector is outperforming other industries.
▼ + stars: | 2023-11-02 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +7 min

Europe's startup ecosystem has been battered this year but climate tech founders have managed to avoid the brunt of the immense downturn so far. PwC's global analysis of the sector also points to climate tech outperforming the norm, accounting for a tenth of private market investments in 2023. Venture capital investment into European startups more broadly is primed to slump by around 46% to 58.1 billion euros in 2023. These obligations have helped make climate tech startups "catnip to investors," Sustainable Ventures' Stuart Ferguson said. Last year, European companies like electric vehicle manufacturer Polestar and batter-maker Northvolt raised 1.6 billion euros and 1 billion euros respectively.

Persons: They've, Stuart Ferguson, Fabian Heilemann, Heilemann, Biden's, Warner, Namratha, Mark Bula, Northvolt, Lisa Barclay, Ferguson, Aenu's Organizations: Steel, Venture, Sustainable Ventures, Warner, Ada Ventures, Elyos Energy, Green Steel, Nesta, Investments Locations: Swedish, British, Norwegian, London, Norway

☆ Green Steel Is Coming. Europe Is Leading the Charge Thanks to New Carbon Taxes.
▼ + stars: | 2023-10-26 | by ( Yusuf Khan | ) www.wsj.com time to read: +7 min

The need for conversion to low-carbon steel production is greater in Europe, where 57% of steel is produced in coal-fired blast furnaces. Swedish-based startup H2 Green Steel has signed deals to supply low-carbon steel to IKEA, Mercedes-Benz , BMW and Scania. Customers of H2 Green Steel have been willing to support the project based on their own green targets and their end-customers’ willingness to pay a green premium, he said. H2 Green Steel said it would charge a €150 premium, while Swedish steelmaker SSAB expects to charge double that. Research from the Rocky Mountain Institute suggests the IRA will encourage green steel investments that would, by 2030, produce about eight million tons of low-carbon steel, or nearly 10% of U.S. steel demand.

Persons: fabian strauch, ”, Colin Richardson, incentivizing, CBAM, Nicola Davidson, Davidson, Henrik Henriksson, Mikael Sjoberg, ” Henriksson, Gunnar Güthenke, SSAB, Europe ”, Simone Tagliapietra, Paul Lim, ” Lim, Yusuf Khan Organizations: Leadership Group, Industry, Argus Media, Rocky Mountain Institute, U.S ., Business, International Energy Agency, Investments, Steel, IKEA, Mercedes, Benz, BMW, Scania, H2, Bloomberg, Research, Europe, Bruegel, U.S Locations: Europe, U.S, Brussels, London, European, Lakes , Texas, Pacific, China, Asia

Michel suggested no deal was imminent when he told reporters the two sides needed to find "mutually beneficial" solutions. U.S. Trade Representative Katherine Tai met with European Commission Executive Vice President Valdis Dombrovskis on Thursday, a third source told Reuters. Michel told reporters it was a critical time for the United States and the EU to "stick together" on their shared values and commitment to democracy given the Israel-Hamas conflict. It is still to be seen if this will end the U.S. tariffs threat or just see an extended suspension. Given the EU needs such materials itself for its green transition, the positive impact for the bloc may be limited.

Persons: Ursula von der Leyen, Joe Biden, Charles Michel, Michel, von der Leyen, Katherine Tai, Valdis Dombrovskis, Donald Trump, Bernd Lange, Philip Blenkinsop, Alexandra Hudson, Jonathan Oatis Organizations: WASHINGTON, European Union, Trump, Commission, U.S, European, . Trade, EU, Washington, World Trade Organization, United, Thomson Locations: BRUSSELS, United States, Israel, Gaza, Ukraine, Europe, North America, China, Brussels, U.S, Washington, Friday's

U.S. President Joe Biden will host Michel and European Commission chief Ursula von der Leyen on Friday to show unity toward Ukraine, but with trade irritants souring ties. U.S. Trade Representative Katherine Tai met with European Commission Executive Vice President Valdis Dombrovskis on Thursday, and the two countries' trade negotiators were meeting around the clock. Michel told reporters it was a critical time for the United States and the EU to "stick together" on shared values and commitment to democracy, especially given the escalating crisis in the Middle East, which threatens to overshadow the long-planned summit. It is still to be seen if this will end the U.S. tariffs threat or just see an extended suspension. Given the EU needs such materials itself for its green transition, the positive impact for the bloc may be limited.

Persons: Charles Michel, Joe Biden, Michel, Ursula von der Leyen, von der Leyen, Katherine Tai, Valdis Dombrovskis, Donald Trump, Bernd Lange, Philip Blenkinsop, Alexandra Hudson, Jonathan Oatis Organizations: European Union, EU, European Commission, Trump, . Trade, European, Washington, World Trade Organization, United, U.S, Thomson Locations: BRUSSELS, WASHINGTON, United States, Ukraine, China, Brussels, U.S, Washington, North America

☆ Hydrogen Demand Is Set to Boom, but Growth Faces Big Hurdles
▼ + stars: | 2023-10-18 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

A new report from consulting firm McKinsey forecasts a fivefold rise in hydrogen demand to 600 million metric tons a year by 2050, if climate change is limited to 1.5 degree Celsius. Using green hydrogen as fuel for steelmaking can cut emissions by up to 95%, according to H2 Green Steel, a Swedish low-carbon steel startup. Higher interest rates have made securing funding for big infrastructure projects more expensive, with fewer willing to put up the cash, according to Franc. Last week, $7 billion of subsidies dedicated to hydrogen projects in the U.S. were announced by the Energy Department. Faster permitting times are needed to bring more hydrogen projects online, as well as the renewable energy to power their electrolyzers, industry experts say.

Persons: BRIDGET BENNETT, ”, Pierre, Etienne Franc, ” Franc, Jason Cheng, Regulators haven’t, Margery Ryan, Johnson, Todd Anderson, Bram Smeets, Ole Rolser, you’ve, Ryan, “, Yusuf Khan Organizations: REUTERS, McKinsey, Business, Green, ”, Platinum Investment, Energy Department, Regulators, The Wall, International Energy Agency, U.S, Dakotas Locations: Las, Swedish, Franc, U.S, Woodbine , Ga, Midwest, Texas, West, Gulf Coasts

☆ Choppy waters as Europe navigates China-US rivalry
▼ + stars: | 2023-10-04 | by ( Mark John | ) www.reuters.com time to read: +6 min

The fracturing of the rules and bonds tying the global economy together - so-called "geo-economic fragmentation" - seemed implausible only a few years ago. Nowhere is it more pressing than for Europe, whose wealth has always relied on trade, from its rapacious colonial history through to its reinvention as self-styled champion of WTO rules. Both the United States and Europe have been hardening their stance towards Beijing while stressing the rules of world trade must be fairly applied. The main EU concern is that the U.S. proposals could break WTO rules by discriminating against third parties. "And we really hope ... that after the election in the United States this is going to continue."

Persons: Jon Nazca, Gordon Brown, Brown, Brad Setser, Biden, Joe Biden, Donald Trump, Trump, Wang Huiyao, Petra Sigmund, Philip Blenkinsop, Joe Cash, Belen Carreno, Mark John, Catherine Evans Organizations: Triple, Majestic, APM, REUTERS, Trade Organization, USA, International Monetary, European, Reuters, for, Thomson Locations: Algeciras, Spain, China, Europe, America, American, United States, Moroccan, Marrakech, Beijing, Washington, Brussels, U.S, EU, for China, IMF, Madrid

☆ How Climate Week in New York Turned Into ‘Burning Man for Climate Geeks’
▼ + stars: | 2023-09-21 | by ( Cara Buckley | More About Cara Buckley | ) www.nytimes.com time to read: +1 min

It’s almost like the climate crisis has gotten itself a new team of publicists, judging from the boggling array of sessions, panels, VI.P. dinners, workshops and fireside chats happening this week as part of Climate Week NYC. This was in addition to two sold out Earth-focused drag shows, “SAVE HER!” hosted by the eco-drag queen Pattie Gonia, and the spectacle of Prince William wading into New York’s East River to visit the Billion Oyster Project, which works to restore reefs using mollusks. There were hundreds of less glittery events too, focused on decarbonizing agriculture, deforestation-free cattle ranching, carbon removal, environmental justice, food waste, green steel and session after session on climate finance and climate tech. Chaotic, sprawling, and borderline circuslike, Climate Week NYC, which officially runs from Sept. 17 to 24, is in many ways a showcase of human innovation, the countless ways people in many industries are working to slow and potentially reverse the enormous harms humans have done to the planet.

Persons: Pattie Gonia, Prince William Locations: Climate, New

☆ Tata Steel CEO discusses EU carbon tax and China's slowdown
▼ + stars: | 2023-08-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTata Steel CEO discusses EU carbon tax and China's slowdownTata Steel CEO T.V. Narendran explains how an EU carbon tax could affect green steel efforts as well as the state of China's economy.

Persons: Narendran Organizations: Tata Steel

☆ Analysis: A year on, Europe less fearful of U.S. green subsidies push
▼ + stars: | 2023-08-17 | by ( Jan Strupczewski | Thomson Reuters | Jan Is The Acting Bureau Chief In Brussels. He Has Been Covering European Union Policy | ) www.reuters.com time to read: +6 min

Solar panels are seen atop a hops plantation in the Bavarian Holledau region in Au, Germany, June 19, 2023. And already, those subsidies are flowing: German conglomerate Thyssenkrupp (TKAG.DE) will invest around 3 billion euros ($3.27 billion) in a proposed green steel plant in Duisburg, Germany, including over 2 billion euros in state subsidies given EU approval in late July. But it noted the U.S. model also had uncertainty built in because a change of administration could end IRA subsidies. The complexity of EU financing through the recovery fund means it is available only to bigger companies, leaving smaller firms struggling to benefit. ($1 = 0.9184 euros)Reporting by Jan Strupczewski; editing by Mark John and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Louisa, Joe Biden's, Biden, Niclas Poitiers, Jan Strupczewski, Mark John, Susan Fenton Organizations: REUTERS, United States, Union, Biden, EU, Zero Industry, European Commission, Sovereignty Fund, Ukraine, Russian, EV, Zero, Thomson Locations: Bavarian, Au, Germany, EU, BRUSSELS, United, Europe, Ukraine, Brussels, United States, Duisburg, U.S, France, China

While global supply networks recover from the pandemic shock, fresh impetus is coming from tougher environmental standards, which drive companies to invest in new technologies to reduce their and their suppliers' emissions. "So in battery, steel, aluminum and cast iron we will only source green materials and technologies by 2030," Foller told Reuters. The foundation told Reuters it would also consider further investments in producers of steel, construction and green aluminium produced with hydropower or from recycled materials. Scania said that following its 10 million euro ($11.15 million) seed investment in H2GS in 2021, it has entered a steel supply agreement from 2027. While companies will keep investing in their suppliers in the short to medium term, the market will eventually reach saturation, said Jon Chadwick, global energy transition lead at PricewaterhouseCoopers.

Persons: Andreas Follér, Foller, Rebecca Campbell, China's, Scania's Foller, Britain's, They're, Maybel Saleh, Case's Campbell, Jon Chadwick, Clara Denina, Sarah McFarlane, Helen Reid, Veronica Brown, Tomasz Janowski Organizations: IKEA, Climate Tech VC, Scania, Reuters, White &, Export, GM, IMAS Foundation, Airlines, EMEA, Citi . Supply, Equity, PricewaterhouseCoopers, Thomson Locations: Ukraine, China, Russia, Beijing, Sweden, Swedish, H2GS, Norway, Germany, Indonesia, Britain, Bristol

The World Bank estimates Ukraine's reconstruction will cost $411 billion, three times the country's gross domestic product. Since Russia's invasion in February 2022, external backers have poured $59 billion into Ukraine for financing needs. "If you have to rebuild, it is logical to rebuild green in line with new technologies... Our vision is to build a 50 million tonnes green steel industry in Ukraine," he told Reuters. To help raise $20-$40 billion in initial funding, Ukraine plans a coalition of industry, public and private sector stakeholders to develop the plan, including doing initial scoping work on projects. "Ukraine's bravery on the battlefield must be matched by the vision of the private sector to help the country rebuild and recover," Sunak will say.

Persons: Pavel Klimov, Rostyslav, Volodymyr Zelenskiy's, Shurma, Rishi Sunak, Matteo Patrone, Ayomide Mejabi, Elisa Martinuzzi, Frances Kerry Organizations: Bank, Reuters, British, Ukraine, Ukrainian Development Fund, BlackRock, European Bank for Reconstruction, London, Republican, Democratic, Russia, NATO, JPMorgan, Jorgelina, Thomson Locations: Ukraine, Russia, Mariupol, Europe, Ukrainian, London, Britain, Rosario

☆ Why the 'Mother of Dragons' at SpaceX left her job building rockets to work on nuclear fusion
▼ + stars: | 2023-06-10 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +9 min

"In one role in particular, my unofficial title was 'Mother of Dragons,'" Dunn told CNBC in an interview in Devens, Massachusetts. But in January 2019, Dunn started work at Commonwealth Fusion Systems, a startup that is attempting to commercialize nuclear fusion as an energy source. Zoom In Icon Arrows pointing outwards The advanced manufacturing facility located at the Commonwealth Fusion Systems campus in Devens, Massachusetts, where magnets are manufactured. "The biggest thing I think about a lot is time, about how fast can we go," Dunn told CNBC. And we have a poster in the back stairwell that says, 'Keep calm and fuse on," Dunn told CNBC.

Persons: Darby Dunn, of, Dunn, Darby Dunn Dunn, I've, Don Quixote, Elon, Elon Musk, it's, Bill Gates, that's Organizations: Commonwealth Fusion Systems, SpaceX, CNBC, International, Commonwealth, Massachusetts Institute of Technology, SPARC, Google, Khosla Ventures, Lowercarbon, ARC, United Nations Locations: Devens , Massachusetts, California, Devens , Mass, Commonwealth

☆ Mercedes Teams Up With Green Steelmaker to Slash Emissions
▼ + stars: | 2023-06-08 | by ( William Boston | Kim Mackrael | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Just Climate raises $1.5 billion with help from Microsoft fund
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 8 (Reuters) - Asset manager Just Climate said on Thursday it had raised $1.5 billion for its inaugural fund after strong demand from institutional clients including Microsoft’s Climate Innovation Fund helped it beat the original target of $1 billion. Established by Generation Investment Management, Just Climate aims to focus investment on the sectors where cutting greenhouse gas emissions is hardest to do, such as cement, shipping, industrials and land use. The firm's initial fund, Climate Assets Fund I, will focus on helping companies with proven technology scale their business to a level to attract more risk-averse investors. "Proven, transformational climate solutions are being developed to decarbonise the industrial sectors. Among other investors to back the fund include IMAS Foundation, Ireland Strategic Investment Fund, Harvard Management Company, California State Teachers’ Retirement System, and Colonial First State Investments.

Persons: Shaun Kingsbury, Kingsbury, Clara Barby, Simon Jessop, Lisa Shumaker Organizations: Innovation Fund, Generation Investment Management, Climate, IMAS Foundation, Ireland Strategic Investment Fund, Harvard Management Company, Colonial, Investments, ABB, Meva Energy, Thomson Locations: California

STOCKHOLM, June 6 (Reuters) - Swedish startup evroc, which is backed by EQT Ventures and Norrsken VC, plans to raise and invest 3 billion euros ($3.2 billion) over the next couple of years to start operating two "hyperscale" data centres. Led by serial entrepreneur Mattias Åström, evroc plans to keep the data within Europe. It has raised a seed round, and plans to build eight hyperscale data centres by 2028, three software development hubs and employ over 3,000 people. It will use a technique called "eco load balancer" which will move data processing between evroc's data centres based on where renewable energy is most readily available and affordable. "When there is sunshine in Spain, we move data processing to Spain; when there's wind in the Netherlands, we move data processing there," Åström said.

Persons: Mattias Åström, Åström, Supantha Mukherjee, Hugh Lawson Organizations: EQT Ventures, Norrsken, Reuters, Thomson Locations: STOCKHOLM, Europe, Spain, Netherlands, Sweden, Northvolt, Stockholm

☆ The World Bank is betting on this company to 'green' the $1.6 trillion steel industry — take a look inside
▼ + stars: | 2023-06-05 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +8 min

Boston Metal CEO, Tadeu Carneiro Photo courtesy Boston MetalThe Boston Metal offices in Woburn, Mass. A diagram of the process Boston Metal is using to make green steel. Zoom In Icon Arrows pointing outwards This is where the electricity is converted from AC to DC in the Boston Metal location. (A portion of the photo has been altered to protect the intellectual property of Boston Metal.) Zoom In Icon Arrows pointing outwards The Boston Metal electrolysis process releases oxygen as a byproduct.

Persons: Tadeu Carneiro, Cat Clifford, Adam Rauwerdink, It's, Carniero, Sonneborn, Rauwerdink, Boston Metal's, " Carneiro, doesn't Organizations: Boston Metal, CNBC, Boston, Boston Steel, DC, MIT, IFC, BHP, World Bank Locations: Woburn , Mass, Boston, Woburn, Asia, Burkina Faso, India, Brazil, South Asia

☆ EU, US to weigh China, AI, trade strains at high-level Sweden talks
▼ + stars: | 2023-05-30 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +2 min

U.S. Commerce Secretary Gina Raimondo, Trade Representative Katherine Tai and European Commission vice president and trade chief Valdis Dombrovskis will also take part. China will be a major focus of the meeting, even if the word "China" only features twice in the draft joint statement - on non-market practices and disinformation. The gathering in northern Sweden comes just as the European Commission presents its "Economic Security Strategy", expected to contain measures to prevent rivals such as China gaining access to its most sensitive technology. Brussels wants to see cooperation to boost green trade, such as mutual recognition of products, even though the U.S. and EU do not have and do not plan to forge a free-trade agreement. The EU is seeking progress with the U.S. towards an accord on critical minerals used for electric vehicles.

☆ Thyssenkrupp Nucera to supply electrolysis plant in Sweden
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, May 22 (Reuters) - IPO candidate Thyssenkrupp Nucera (TKAG.DE) will supply more than 30 of its flagship electrolysers, which provide the technology needed to produce carbon-neutral steel via green hydrogen, to Swedish fossil-free steel startup H2 Green Steel. The deal highlights growing demand for hydrogen technology as a way to decarbonise CO2-heavy industrial production techniques, a field where Europe wants to compete globally with subsidy-rich regions, notably the United States. Sources told Reuters last month that Thyssenkrupp Nucera, a 66-34 joint venture between Germany's Thyssenkrupp (TKAG.DE) and Italy's De Nora (DNR.MI), was targeting a stock market listing in June at a valuation of up to 5 billion euros ($5.5 billion). A H2 Green Steel spokesperson said the agreement was worth several billion Swedish crowns, declining to comment further. Green hydrogen is created through renewables-powered electrolysis, whereby water is split into hydrogen and oxygen.

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