Hanwha Qcells Shines with Record-Breaking Solar Cell Efficiency and $1.45 Billion DOE Loan

Saptakee S
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0
Hanwha Qcells Shines with Record-Breaking Solar Cell Efficiency and $1.45 Billion DOE Loan

Hanwha Qcells, a subsidiary of South Korea’s Hanwha Corp has set a world record for tandem solar cell efficiency. The company’s innovative M10-sized cell, featuring a perovskite-silicon structure, reached an impressive efficiency of 28.6%.

This incredible output surpasses the 27% efficiency of crystalline silicon cells and the 21% typical of standard commercial solar panels. They achieved this milestone just one year after starting large-scale tandem development, promising project size and cost reduction.

Danielle Merfeld, Global CTO at Hanwha Qcells.

“The tandem cell technology developed at Hanwha Qcells will accelerate the commercialization process of this technology and, ultimately, deliver a great leap forward in photovoltaic performance,” said  “We are committed to advancing the next generation of solar energy efficiency and will keep investing significantly in research and development to drive progress in this field, as every kilowatt counts on the path to building a more sustainable future.”  

Hanwha Qcells Redefines Solar Efficiency

The press release mentioned that the R&D team began groundwork in 2016 to develop a commercially feasible tandem solar cell using perovskite top-cell technology and Hanwha Qcells flagship silicon bottom-cell technology.

Eventually, in 2019, the solar giant launched an advanced research center in Pangyo, Korea that would complement their well-established R&D hub in Bitterfeld-Wolfen, Germany. After achieving success with small-area tandem cells, the focus shifted to large-area designs that finally culminated in the record-breaking 28.6% tandem solar cell efficiency.

Designing the Future of Solar

The certified record was verified by the CalLab at the Fraunhofer Institute for Solar Energy Systems (ISE). The high efficiency comes from an innovative design that pairs a perovskite-based top cell with Hanwha Qcells’ proprietary Q.ANTUM silicon bottom-cell technology.

This measurement, taken on a full-area M10-sized cell (approximately 0.36 square feet or 330.56 cm²) used a standard industrial silicon wafer that could be interconnected into an industrial module. The tandem technology stacks a perovskite top cell and a silicon bottom cell to optimize energy capture. Simplifying the technique, the top cell absorbs high-energy light while low-energy light passes through to the bottom cell to maximize power output per module.Hanwha Qcells

So, what’s the advantage? Well, fewer panels generate the same power, which further reduces costs and land use for solar projects.

Significantly, Hanwha Qcells developed this tandem technology with commercial manufacturing in mind. They are focused on going beyond lab-scale demonstrations. With their scalable processes and tools, the company is all geared up for the next generation of efficient, cost-effective solar energy solutions.

Thus, this milestone moves the solar industry closer to the widespread commercialization of more powerful and affordable solar technology.

Robert Bauer, Head of Hanwha Qcells R&D in Germany noted,

“Hanwha Qcells is excited to announce this new world record in tandem cell efficiency based on our in-house developed perovskite technology as a top cell, and cost-efficient Q.ANTUM silicon technology as a bottom cell. The champion cell is a typical cell from our R&D pilot line in Germany and has been fabricated exclusively using processes that are feasible for mass production. This result is laying the groundwork for future commercialization of this exciting technology.”

Global Partnerships Drive Innovation

Hanwha Qcells’ is a global leader in solar energy. This unit manufactures high-performance solar modules and innovative storage systems. They have headquarters in Seoul and South Korea, and manufacturing hubs in the U.S., South Korea, and Malaysia. The company offers end-to-end clean energy solutions for utility, commercial, and residential markets worldwide.

Qcells’ R&D efforts have received significant support. The Pangyo R&D Center recognized as a national research institute, benefits from Korean government funding. Meanwhile, the Bitterfeld-Wolfen center is backed by a global network, including the German Federal Ministry for Economic Affairs and Climate Action, the EU Commission, and the state of Saxony-Anhalt. Collaborative initiatives like the EU’s PEPPERONI project have further fueled progress.

Danielle Merfeld also added,

“We are fortunate to have outstanding global R&D teams and to have received invaluable support from our partners in Korea and Europe, leveraging their resources and expertise. We deeply appreciate everyone dedicated to driving innovations that bring us closer to achieving our climate goals.”

Hanwha Qcells solar energy

DOE Backs Qcells with $1.45 Billion Loan for Solar Supply Chain

The U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) has finalized a $1.45 billion loan to support Qcells’ solar manufacturing facility in Cartersville, Georgia. Initially, in August 2024, DOE announced it as a conditional commitment but with this confirmation, the funding will help build a robust solar supply chain in the U.S.

The company noted that over the past decade, solar installations have surged. The U.S. alone had over 5 million installations, with a target of reaching 10 million by 2030. According to the U.S. Solar Market Insight 2023 Year in Review, total U.S. solar capacity is projected to hit 673 GW by 2034, enough to power over 100 million homes.

Furthermore, the IEA’s Renewables 2024 report predicts that global renewable energy will add 5,500 GW of capacity by 2030, with solar PV technologies driving 80% of this growth.

IEA renewable energy report

Energizing U.S. Solar Innovation

Qcells, a global leader in solar solutions and the largest silicon-based solar panel producer in the Western Hemisphere plans to invest $2.8 billion in this groundbreaking project. The Cartersville facility will produce ingots, wafers, cells, and panels on a multi-gigawatt scale.

Furthermore, on completion, the plant will have a production capacity of 8.4 GW, or approximately 46,000 solar panels per day. Rebuilding these critical parts of the domestic solar supply chain is a huge contribution to the U.S. energy independence and reduced carbon emissions.

Hanwha’s Commitment to Net Zero

Hanwha Solutions 2050 Net Zero goals align with the global target of limiting temperature rise to below 1.5°C. As per its latest sustainability report, it plans to cut Scope 1 and 2 emissions by 35% by 2030 and 60% by 2040, using 2018 as the baseline. 

Some strategies include:

  • improving energy efficiency
  • adopting renewable energy
  • utilizing by-product hydrogen as fuel
  • incorporating carbon capture and utilization (CCU) technologies

The solar giant also purchases renewable energy through KEPCO’s Green Premium program. In 2023, the Chemical Division secured 53.7 GWh, and the Qcells Division obtained 27 GWh.

Notably, Qcells maximizes on-site renewable energy generation. Solar panels installed on rooftops and parking lots now produce 3.9 MW, with plans to add 2 MW in 2024. Last year, these facilities supplied 3.2 GWh of clean energy.

In conclusion, the DOE’s loan is a testament to the solar industry’s vital role in helping American manufacturers compete globally and succeed long-term. And Hanwha Qcells is just doing the job right. It’s advancing scalable manufacturing and high-efficiency solar cells, driving affordable and sustainable solar solutions.

Li-FT Power Strikes Deal with North Arrow Minerals to Expand Lithium Portfolio in Canada’s Northwest Territories

Saptakee S
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0
Li-FT Power Strikes Deal with North Arrow Minerals to Expand Lithium Portfolio in Canada’s Northwest Territories

On December 19, Li-FT Power Ltd. (LIFT) announced that it had signed a definitive agreement with North Arrow Minerals Inc. to acquire three lithium projects in Northwest Territories, Canada. In this deal, LIFT will now fully own the DeStaffany, LDG, and Mackay Lithium Projects. In exchange, North Arrow will receive 250,000 common shares of LIFT.

The deal also includes the transfer of reclamation bonds, ensuring responsible environmental practices. However, regulatory approvals are pending for the transaction to close.

Francis MacDonald, CEO and Director of Li-FT Power, commented,

“The acquisition of North Arrow’s lithium portfolio further positions LIFT as the leading lithium exploration company in the Northwest Territories. The DeStaffany Project is located close to our BET and Echo pegmatites which creates synergies from a logistical standpoint, as well as increases the overall resource base for the eastern sector of the Yellowknife Pegmatite Province. The LDG and Mackay properties give LIFT a foothold in an emerging spodumene district located near the Diavik and Ekati diamond mines and provide long-term upside for the Company. We will continue to seek out accretive acquisitions within the Northwest Territories, especially around our existing resource base.”

LIFT lithium north arrow

Li-FT’s Commitment to Lithium Exploration

Li-FT focuses on acquiring and developing lithium projects in Canada, including its flagship Yellowknife Lithium Project, located in the Northwest Territories. In addition to this flagship venture, LIFT owns three early-stage exploration properties in Quebec, which show strong potential for uncovering buried lithium pegmatites.

The company also manages the Cali Project in the Northwest Territories located within the Little Nahanni Pegmatite Group. 

A MESSAGE FROM Li-FT POWER LTD.
This content was reviewed and approved by Li-FT Power Ltd. and is being disseminated on behalf of CarbonCredits.com.

Exploring Hard Rock Lithium Deposits in Canada.

lift power

Lithium, one of the most essential ingredients in the production of batteries, lithium powers some of our most important devices. As you may already know, it will also be one of the hottest resources in the coming decade. And one of the fastest-developing North American lithium juniors is Li-FT Power Ltd (TXSV: LIFT | OTCQX: LIFFF | FRA: WS0).

Learn more about this mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects >>

Moving on, let’s deep dive into these 3 lithium projects acquired by LIFT POWER.

1. The DeStaffany Lithium Project

The DeStaffany lithium property spans 1,843 hectares along the north-central shore of Great Slave Lake in the Northwest Territories. It lies just 18 kilometers northeast of the Nechalacho mine and 115 kilometers east of Yellowknife.

The property hosts two significant pegmatites—Moose 1 and Moose 2—rich in lithium, tantalum, and niobium. While these pegmatites were explored in the 1940s for tantalum and niobium, their lithium potential remains largely unexplored. Recent discoveries of additional pegmatites by North Arrow highlight further opportunities on the property.

The Moose pegmatites are located within just 1 kilometer from Great Slave Lake. This property benefits from accessibility via Yellowknife and Hay River throughout the year. LIFT plans to advance the project through mapping, sampling, and prospecting. The next phase will focus on preparing for initial drilling to assess the spodumene pegmatites further.

Moose 1 Pegmatite

The Moose 1 pegmatite stretches 370 meters, with widths ranging from 4.5 to 6 meters and a maximum of 11 meters. Although drilling has never been conducted, historical channel sampling in 2009 revealed spodumene mineralization with lithium levels of 1.5% Li2O over 7.5 meters.

Moose 2 Pegmatite

The mining potential of Moose 2 is promising. It has been mapped over a 450-meter strike length and measures up to 30 meters wide. Bulk sampling in the 1940s and 1950s focused on tantalum and niobium, producing concentrates, but its lithium content remains untapped. Spodumene mineralization is widespread, with lithium grades of up to 1.98% Li2O identified along a 250-meter stretch.

The DeStaffany Lithium Project has been blessed with abundant resources and has a strategic location. These advantages contribute significantly to LIFT’s growing portfolio.

lithium

2. The LDG Project

The LDG Project, covering 8,600 hectares is located near Rio Tinto’s Diavik diamond mine. Early exploration has identified ten spodumene pegmatites, with two having outcropping dimensions up to 20 meters wide and 400 meters long. The till-covered terrain offers favorable conditions for discovering buried lithium deposits.

3. The Mackay Project

The Mackay Project, spanning 8,661 hectares, lies south of the Diavik diamond mine. Two spodumene-rich areas have been identified. The MK1 site features pegmatite dykes with lithium grades of up to 3.74% Li2O from grab samples. Meanwhile, the MK3 site includes a 130-meter pegmatite exposure with grades reaching 5.25% Li2O. These findings highlight the high lithium potential of the region.

North Arrow Minerals lithium

Experienced Oversight

The lithium miner significantly highlighted that all technical details in this update were reviewed by Dr. Ron Voordouw, a Qualified Person under NI 43-101 standards. This ensures that the information meets absolute professional and regulatory standards.

North Arrow Driving Exploration Success with Global Expertise

Based in Vancouver, BC, North Arrow Minerals is an exploration company primarily focused on advancing the Kraaipan Gold Project in Botswana. It also explores the diamond potential in the Naujaat (NU), Pikoo (SK), and Loki (NWT) projects.

The company’s leadership team, including its management, board of directors, and advisors, brings extensive and proven expertise in global exploration and mining. Kenneth Armstrong, P.Geo. (NWT/NU, ON), serves as North Arrow’s President and CEO, overseeing exploration programs. He is a Qualified Person under NI 43-101 and ensures all projects adhere to industry standards.

He expressed his opinion on this deal as well, noting, 

“We are pleased to proceed with this transaction as it provides North Arrow with exposure to the continued evaluation of these NWT lithium properties as well as Li-FT’s advanced Yellowknife Lithium Project while allowing our team to focus on exploration of the Kraaipan Gold Project in Botswana, where geophysical surveys, geochemical baseline analyses, and target evaluation are currently underway.”

With these strategic moves, Li-FT strengthens its position in Canada’s growing lithium market, paving the way for sustainable energy solutions.

Disclosure: Owners, members, directors, and employees of carboncredits.com have/may have stock or option positions in any of the companies mentioned: LIFT.

Carboncredits.com receives compensation for this publication and has a business relationship with any company whose stock(s) is/are mentioned in this article.

Additional disclosure: This communication serves the sole purpose of adding value to the research process and is for information only. Please do your own due diligence. Every investment in securities mentioned in publications of carboncredits.com involves risks that could lead to a total loss of the invested capital.

Please read our Full RISKS and DISCLOSURE here.

UK Aviation to Face $127 Per Ton of Carbon Fine for CORSIA Non-Compliance

Jennifer L
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0
UK Aviation to Face $127 Per Ton of Carbon Fine for CORSIA Non-Compliance

The aviation industry, responsible for over 2% of global CO₂ emissions, faces mounting pressure to decarbonize. Against this backdrop, the UK has embraced the United Nations’ Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), a global initiative aimed at limiting carbon emissions from international flights. This step aligns with the UK’s broader climate commitments, including its net-zero by 2050 target. 

Here’s a closer look at what’s unfolding and why it matters.

CORSIA: The Global Aviation Emission Standard Taking Flight

CORSIA seeks to cap net emissions from international aviation, one of the fastest-growing emitters, at 2019 levels. It was established by the International Civil Aviation Organization (ICAO) in 2016. 

aviation carbon emissions

The framework requires airlines to offset emissions that exceed the baseline by funding projects that reduce or remove greenhouse gas emissions such as reforestation or renewable energy initiatives. It has three phases:

  1. Pilot (2021-2023), 
  2. First (2024-2026), and 
  3. Second (2027-2035).

The scheme already has 126 participating countries, covering 75% of global aviation activity.

For compliance, airlines must purchase and cancel eligible carbon credits or use CORSIA-eligible sustainable aviation fuels (SAFs). These fuels, derived from renewable sources, significantly lower lifecycle emissions compared to conventional jet fuels.

UK’s Dual Approach: CORSIA Meets the UK ETS

The UK was instrumental in shaping CORSIA and remains a strong proponent of its implementation. Having participated since the pilot phase, the country is now integrating CORSIA alongside its domestic Emissions Trading Scheme (UK ETS). 

Britain’s approach balances international commitments with its domestic climate goals, ensuring minimal economic disruption.

The UK ETS, launched in 2021, applies to domestic flights and certain international routes. Operating on a cap-and-trade principle, it limits total emissions by requiring companies to purchase allowances (or credits) for their emissions. 

Flights from the country to the European Economic Area (EEA) and Switzerland currently fall under both the UK ETS and CORSIA. Thus, this creates potential overlaps. To address this, the UK Department for Transport (DfT) is consulting on two policy options:

  1. UK ETS Only: This option would remove CORSIA obligations for flights already covered by the UK ETS, avoiding double regulation and maintaining the integrity of the domestic scheme.
  2. Price-Based Hybrid: Under this model, flights would comply with both systems, but airlines would receive compensation for CORSIA compliance costs to prevent financial double charging.

Challenges in Implementation

Despite its ambitious goals, implementing CORSIA is not without hurdles. There are three challenges in implementing the scheme:

  • Carbon Credit Uncertainty: The availability and quality of eligible carbon credits remain contentious. Ensuring credits meet rigorous environmental and social standards is essential to maintaining credibility.
  • Administrative Complexity: Aligning CORSIA’s 3-year compliance cycle with the UK ETS’s annual requirements adds a layer of operational complexity.
  • Double Regulation: Balancing compliance under both schemes for flights to the EEA and Switzerland requires careful policy design to prevent inefficiencies.

Financial Implications and Industry Perspectives

To encourage compliance, the UK’s draft legislation proposes fines of £100 ($127) per tonne of CO₂ for non-compliance, indexed for inflation. However, the DfT emphasizes the importance of avoiding excessive cost burdens that could lead to higher ticket prices. 

Policymakers aim to achieve decarbonization without compromising the affordability of air travel.

The International Air Transport Association (IATA) and UK-based airlines broadly support integrating CORSIA. They recognize its role in reducing aviation’s climate impact. 

However, they stress the need for clear rules and effective implementation to avoid market distortions. The Climate Change Committee (CCC) has also advised ensuring strict eligibility criteria for carbon credits and avoiding double compliance burdens.

SAF and The UK’s Roadmap to Achieving Net-Zero Aviation

A critical enabler of aviation decarbonization is the adoption of SAFs. These fuels are eligible under both CORSIA and the UK ETS, offering airlines a way to reduce emissions directly. 

The UK government’s Jet Zero strategy emphasizes increasing SAF production, aligning with international goals under ICAO’s Global Framework for Aviation Cleaner Energies.

The Jet Zero strategy outlines the country’s plan to achieve net-zero aviation by 2050. It emphasizes rapid technology development to preserve the benefits of air travel while leveraging decarbonization opportunities for the UK. 

The UK Jet Zero Roadmap

UK Jet Zero Strategy

The strategy includes a 5-year delivery plan detailing the actions necessary to meet net-zero targets and will be reviewed and updated every five years. Informed by over 1,500 responses from consultations, the strategy also includes the Jet Zero investment flightpath, which is part of the Prime Minister’s Ten-Point Plan for a Green Industrial Revolution. 

The roadmap highlights the UK’s leadership in advancing low- and zero-emission aviation technologies. It has a focus on investment opportunities in systems efficiency, sustainable aviation fuels, and zero-emission aircraft.

The UK’s adoption of CORSIA complements its domestic initiatives to decarbonize aviation. The Jet Zero Taskforce and strategies such as phasing out free ETS allowances for aviation by 2026 underscore a strong commitment to reducing emissions. Combined with advancing SAF technology, these measures are key to achieving net-zero aviation.

As consultations continue, Britain faces crucial decisions on integrating CORSIA with the UK ETS. The chosen approach will shape how airlines balance compliance costs with sustainability goals.

By taking proactive steps, the UK aims to lead global efforts in aviation decarbonization. As the 2025 compliance deadline approaches, the aviation industry stands at a crossroads—with the potential to drive meaningful climate action through innovation and international cooperation.

Is Bitcoin Mining the Unexpected Solution to Europe’s Energy Challenges?

Saptakee S
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0
Is Bitcoin Mining the Unexpected Solution to Europe’s Energy Challenges?

A recent report from Forbes unveiled that Bitcoin mining is emerging as a unique asset in Europe’s quest for a sustainable energy future. While the sentiment about Bitcoin mining might differ, this technology is smoothly integrating itself with renewable sources. How? For instance, by stabilizing the grid and using the surplus energy, thereby taking the load off the grids.

In this Bitcoin era, Germany is a top leader in Bitcoin mining for sustainability goals. Additionally, Austria and countries outside Europe, like El Salvador have also joined the hype to prove that Bitcoin’s energy requirements can be harnessed for both environmental and economic advantages.

Europe’s Energy Strategy: The Bitcoin Mining Advantage

In Europe, rising geopolitical tensions and high energy costs have forced the nation to rethink its energy strategy. Amidst this crisis, The European Bitcoin Energy Association (EBEA) is leading the efforts to use Bitcoin mining as a solution to Europe’s energy problem.

Rachel Geyer, Chair of EBEA explains,

“Bitcoin miners can switch off when electricity prices surge and switch on when prices drop, making it an ideal partner for stabilizing grids.”

EBEA emphasized that Bitcoin miners, unlike data centers for major tech companies such as Amazon or Facebook, are incredibly adaptable. They can quickly adjust their energy use, making them a responsive energy consumer. This flexibility supports renewable energy production and helps reduce the strain on overloaded power grids.

Germany: A Leader in Sustainable Bitcoin Mining

Forbes exemplified Germany’s engineering expertise as the main driver behind the advancements in sustainable Bitcoin mining. Companies like Terahash are developing cutting-edge solutions, combining mining with renewable energy and heat recovery.

One standout project, Terahash’s “Genesis” facility in Finland, runs entirely on renewable energy. The high-temperature Bitcoin miners produce heat at 70°C, which is fed into a district heating network. This setup provides year-round heating for 12,000 residents, warming homes in winter and supplying hot water in summer.

In Germany, Terahash is working on a project that combines solar power, battery storage, and Bitcoin mining at an industrial park. This setup not only stabilizes the grid but also lowers energy costs for businesses and provides heat for community spaces like schools and event halls.

Matthias Fendt, Head of Operations and Sales at Terahash emphasized,

“The cashback from Bitcoin mining helps reduce costs and cover maintenance. Fully integrated multi-use-case sector coupling projects like these create real value for people and businesses while simultaneously strengthening the decentralization and security of the Bitcoin network. In this way, we promote sustainable prosperity and sovereignty.”

Germany’s New Legislation Powers Bitcoin Mining for Energy Efficiency

Germany’s 60% of its electricity comes from renewable sources like wind and solar. However, the inconsistent nature of these energy sources creates grid stability challenges. And this gap can be filled through this latest technology of sustainable Bitcoin mining.

Considering the potential of bitcoin mining, Germany is introducing legislation that promotes using surplus energy rather than letting it go to waste. This aligns well with the modular nature of Bitcoin mining, which can be deployed where excess energy exists.

Rachel Geyer further added,

“We shouldn’t be curtailing energy production—we should be using it. Bitcoin mining’s modularity allows it to thrive in locations where excess energy would otherwise go to waste.”

In another perspective, although Bitcoin mining shows potential, government subsidies for traditional renewable projects often distort the market. Thus, Geyer warns that such subsidies create solutions that struggle to remain viable once the funding ends.

In contrast, bitcoin mining relies on a market-driven approach, promoting efficiency and sustainability without depending on subsidies.

Bitcoin in Daily Life

Geyer also cited an interesting example of Bitcoin sustainability in daily lives in Germany. A solar-powered car was integrated bitcoin mining into daily operations. The system uses solar energy to power Bitcoin miners, which in turn generate heat for de-icing floors and warming water for cleaning. This innovative setup not only enhances energy efficiency but also highlights how Bitcoin mining can add value to everyday applications.

Austria Turns Surplus Energy into Bitcoin Power

Moving on, in Austria, Bitcoin mining is also holding its ground within the nation’s energy system, turning wasted energy into productive use. The European Bitcoin Energy Association (EBEA) has joined forces with Austrian Power Grid and 21Energy for an innovative pilot project. This initiative focuses on channeling surplus hydroelectric power into Bitcoin mining operations.

Hydropower, along with energy from wind farms, often produces more electricity than is needed. The surplus energy goes to waste, especially during periods of low demand. So instead of letting this clean energy go unused, the project demonstrates how it can be repurposed effectively. By integrating Bitcoin mining into the energy grid, Austria is balancing supply and demand in a way that aligns with its sustainability goals.

This approach not only ensures that renewable energy is utilized completely but also supports the grid system while contributing to Austria’s economic and environmental progress.

Overall, Bitcoin mining is proving its worth beyond generating cryptocurrency. By addressing energy challenges, it is contributing to Europe’s sustainability goals. As Germany and other European nations embrace these possibilities, the synergy between Bitcoin mining and renewable energy could reshape the future of energy systems.

In conclusion, Geyser said,

“This isn’t just about bitcoin. It’s about solving real-world problems with innovative solutions.”

Source: Bitcoin Mining Powers Europe’s Energy Transition During Crisis

Lithium is Driving the EV Boom: Demand to Quadruple by 2030

Jennifer L
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0
Lithium is Driving the EV Boom: Demand to Quadruple by 2030

Lithium and electric vehicles (EVs) have taken center stage in decarbonizing the transportation sector. The demand for lithium—a crucial component in battery technologies—is surging alongside the rapid growth of EV adoption. A recent report by the International Council on Clean Transportation (ICCT), “A Global and Regional Battery Material Outlook”, captured this trend. 

The report further highlights the dynamics of lithium supply and demand, the technological advancements shaping battery performance, and the role of EVs in achieving global sustainability goals. We crunch these aspects in the report, with the following key insights.

Lithium Gold Rush Fueling the EV Boom

Lithium, often called “white gold,” is the backbone of the global push toward electrification. Its role in powering lithium-ion batteries makes it indispensable in EVs, consumer electronics, and renewable energy storage systems. 

  • In 2023, vehicles accounted for 80% of lithium-ion battery demand, a figure expected to rise significantly as EV adoption accelerates worldwide.

With EV battery sizes increasing—offering longer driving ranges—lithium demand is set to quadruple by 2030. Annual requirements could exceed 622 kilotons by 2040 under baseline scenarios, with EVs contributing the lion’s share, per the ICCT report.

Annual global raw material demand for lithium under the Baseline and alternative scenarios ICCT

Lithium-ion batteries’ energy density and lightweight nature make them ideal for applications requiring portability and high performance. 

However, lithium’s significance extends beyond EVs. Renewable energy systems, which rely on grid-scale storage solutions, rapidly drive demand for lithium-based batteries. With governments globally pushing for greener grids, the need for reliable, efficient energy storage has surged, further solidifying lithium’s critical role in the energy transition.

Cracking the Code: Innovations Tackling Lithium Supply Challenges

Meeting surging lithium demand comes with substantial hurdles. Mining and refining capacities need rapid expansion, but several challenges stand in the way. Environmental concerns, land access issues, and lengthy regulatory approval processes often slow the pace of new projects. 

Geopolitical dependencies further complicate lithium supply. China controls around 60% of the global lithium refining capacity, creating vulnerabilities in supply chains heavily reliant on a single region. 

By 2030, operational and highly probable lithium mining capacities could meet 68% of the combined demand for lithium across vehicle and non-vehicular sectors, according to the ICCT analysis. Including all announced mining projects, total capacity could surpass demand, reaching 122% of projected lithium needs.

Annual global lithium raw material demand

Efforts to diversify these operations are underway, with the United States, Australia, and Canada ramping up their domestic capabilities. To mitigate supply risks, the industry is exploring innovative solutions. 

Recycling used lithium-ion batteries presents a significant opportunity. By 2030, recycled lithium could account for up to 10% of global supply, reducing the need for virgin material.

Companies like Redwood Materials and Li-Cycle are advancing recycling technologies, recovering lithium, cobalt, and nickel from spent batteries to reintroduce them into production cycles.

Government policies are playing a vital role in alleviating supply challenges. For example, the Inflation Reduction Act in the United States incentivizes domestic mining and processing, while Europe’s Critical Raw Materials Act aims to build a resilient lithium supply chain within the region.

Despite these efforts, achieving a balance between lithium demand and supply will require sustained investments, technological breakthroughs, and international collaboration. 

EVs Transforming Transportation Worldwide

Electric vehicles (EVs) are reshaping global transportation, offering sustainable alternatives to internal combustion engine (ICE) vehicles. 

EVs are more than a technological shift—they are essential in fostering a cleaner energy future by: 

  1. Decarbonizing economies, 
  2. Reducing greenhouse gas emissions, and 
  3. Minimizing dependence on fossil fuels.
  • By 2030, annual EV sales could surpass 40 million units, comprising nearly half of all light-duty vehicle sales.

This rapid growth is driven by continuous advancements in lithium-ion battery technology, which has increased energy density and reduced costs. EV ownership is projected to match or undercut ICE vehicles by 2027 in many regions, thanks to innovations like silicon anodes for better energy storage and solid-state batteries for enhanced safety and efficiency.

Despite these advancements, challenges persist. Inadequate charging infrastructure limits widespread adoption, though governments and private entities are rapidly expanding networks. 

Europe plans to install over 1 million public chargers by 2025, while similar initiatives are underway in China and the U.S., the largest investors in charging infrastructure.

Global Trends: How Regions Are Leading the EV Charge

The global EV market also shows notable regional dynamics, with China, Europe, and the United States leading the charge. However, emerging markets are beginning to carve out their niches as well.

China: The Global Leader

China continues to dominate the EV market, accounting for more than 60% of global EV battery production and nearly half of EV sales in 2023. The nation’s stronghold on battery manufacturing comes from significant investments in gigafactories and raw material processing facilities. It is also coupled with government subsidies that make EVs more affordable for consumers. 

Announced cell production capacity by market

Additionally, local manufacturers like BYD and NIO are competing directly with global players like Tesla, offering diverse EV models across various price points.

United States: Scaling Domestic Production

The U.S. is accelerating efforts to localize its EV supply chain, supported by initiatives such as the Inflation Reduction Act (IRA) and significant private investments in battery gigafactories. Companies like Tesla, General Motors, and Ford are ramping up EV production. 

Meanwhile, partnerships with battery producers, such as Panasonic and LG Energy Solution, are strengthening domestic capabilities.

The IRA has spurred investments in mining and refining operations within North America, reducing dependency on overseas supply chains. By 2030, the U.S. aims to manufacture at least 20% of global battery capacity, a substantial leap from its current share.

Annual battery demand in the United States

Europe: Prioritizing Sustainability

Europe is positioning itself as a global leader in sustainable EV production. The European Union’s stringent emissions regulations and its Green Deal policies have accelerated the adoption of electric mobility across member states. Countries like Norway, Germany, and the Netherlands are at the forefront, offering generous subsidies and tax incentives for EV buyers.

In addition to fostering demand, Europe is heavily investing in battery production to reduce reliance on imports. Projects like Northvolt in Sweden and partnerships with automakers such as Volkswagen and Renault underscore the region’s commitment to building a self-sufficient EV ecosystem. 

Emerging Markets: A New Frontier

While developed regions dominate the EV market, emerging markets are beginning to embrace electric mobility. Southeast Asia and South America, for instance, are focusing on smaller, more affordable EV models and two-wheelers to cater to their unique transportation needs. 

Countries like India and Brazil are introducing policies to encourage domestic EV production and charging infrastructure development.

In Africa, EV adoption remains in its infancy, hindered by limited infrastructure and higher costs. However, renewable energy integration into charging networks and international investments in sustainable mobility projects are slowly opening opportunities for growth.

The Road Ahead for Lithium and EVs

The outlook for lithium demand and supply as well as EVs remains promising but requires coordinated efforts across industries and governments. Scaling battery productions and fostering technological innovation will be critical to meeting the ambitious targets for EV adoption and emissions reduction.

As the EV market grows, addressing supply chain issues and environmental concerns will ensure the viability of this transformative technology. And ultimately, lithium and EVs can power a cleaner, more resilient future with the right support and innovation.

Is Walmart’s Net Zero Emissions Target Slipping Away?

Saptakee S
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0
Is Walmart’s Net Zero Emissions Target Slipping Away?

Walmart was the first U.S. retailer to make a zero-emissions commitment by 2040, without relying on carbon offsets. However, the company’s latest news release revealed that the retail giant is most likely to miss its greenhouse gas emissions targets. It aimed to cut absolute scope 1 and 2 GHG emissions by 35% by 2025 and by 65% by 2030 from 2015 levels. But these numbers now look foggy.

The company revealed,

“We anticipate achieving our near-and mid-term emissions reduction targets later than our 2025 and 2030 target dates.”

Walmart’s Operational Emissions: Gains and Setbacks

By the end of 2023, Walmart reduced its operational emissions (Scopes 1 and 2) by 19.3% compared to its 2015 baseline. Its carbon intensity declined by an impressive 45% in the same timeline. But despite these long-term gains, annual emissions in 2023 increased by 3.9%. This rise became the reason behind Walmart pushing its pre-determined target. 

Most importantly, it showcased the challenges of balancing commercial expansion with sustainability.

WalmartSource: Walmart

What Slowed Walmart’s Progress?

Coming to the analysis directly, external factors played a significant role in stalling the retail giant’s sustainability journey. The three factors that Walmart has cited led to the rise in emissions were:

  1. Pollution from old and aging refrigeration equipment
  2. Fuel emissions from transportation in the U.S., including fleet expansion and third-party route changes.
  3. Slow adoption of renewable energy compared to its business growth.

Out with the Old, In with the New

The company has realized that achieving its net zero goals won’t be a straight path. There will be inevitable hurdles due to business growth and external factors. While the company will continue with its 2040 net zero emission goals, its interim targets might take longer to achieve.

Walmart’s statement stressed that curbing emissions relies on policies and infrastructure across global markets. For instance, reducing refrigeration emissions and HVAC systems or reducing emissions in heavy transportation require systemic solutions.

Additionally, broader sectoral shifts in transportation, materials, and agriculture can significantly reduce value chain emissions.

walmart emissionSource: Walmart

Renewable Energy Adoption

Walmart wants to power 50% of its operations with renewables by 2025 and 100% by 2035. Notably last year, 48% of its electricity came from renewable sources, with 30% directly procured through contracts.

The strategies to further bring down Scope 2 emissions are:

  • Add 1 GW of solar and storage capacity by 2030, building on 600 projects already in progress.
  • Since 2020, Walmart has facilitated over 2 GW of renewable projects through Power Purchase Agreements and is exploring international investments.

The company also reached a major milestone with its flagship “Project Gigaton” through which it aims to mitigate 1 billion metric tons of emissions in its value chain by 2030. The best part they achieved it six years early. Notably, the company credits supplier partnerships and continued innovation for this success.

Despite progress, achieving these goals depends on accessing renewable capacity, especially in international markets with regulatory challenges. The company is working to unlock opportunities but faces uncertainties in some regions.

Tackling Refrigerant Emissions

Refrigerant emissions accounted for 55% of Walmart’s Scope 1 emissions in 2023 mostly due to leaks in aging equipment. To address this, Walmart is working on:

  • Annual preventive maintenance of the equipment, technician training, machine learning for detection of leaks, and reusing gases.
  • Upgrading systems by transitioning to low-GWP refrigerants in new and existing facilities. Over 290 U.S. locations now use ultra-low GWP alternatives like CO2 and ammonia.
  • Advocating policy changes and supporting legislation to phase out high-GWP refrigerants.

These efforts are a part of their continued progress aligned to equipment upgrades and technology availability.

walmartSource: Walmart

Supporting EV Adoption

Walmart plans to build an EV fast-charging network at thousands of U.S. stores and Sam’s Clubs by 2030. This will be an addition to its existing 1,300 chargers at 280 locations. The company’s stats show that with 90% of Americans living within 10 miles of a Walmart, the initiative will make EVs more accessible and convenient.

Drivers can shop while charging- which shows how convenient that would be for customers. Additionally, they are testing zero-emission vehicles in its supply chain, with EV deliveries already in place for many customers.

Thus, despite challenges related to a possible delay in achieving its net zero emissions target, Walmart stays committed to its 2040 goal. This will require affordable low-carbon solutions, strong policies, and better infrastructure for a sustainable future.

Oklo and Switch Make History with 12 GW Nuclear Power Agreement

Saptakee S
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Oklo and Switch Make History with 12 GW Nuclear Power Agreement

Oklo, one of the top advanced nuclear companies, and Switch, pioneering in the data center and AI eco-system have signed a historic corporate power agreement to deploy 12 gigawatts of Oklo Aurora powerhouse projects through 2044. Considering its scale, they call it the “Master Power Agreement” which builds the framework for collaboration. Both companies will finalize the binding agreements after achieving the project milestones.

Jacob DeWitte, Co-Founder and CEO of Oklo expressed his sentiments by noting,

“We are excited to collaborate with Switch on this historic agreement,” “Rob Roy and the Switch team share the vision we have for nuclear energy’s role in powering artificial intelligence and providing the world with energy abundance. Oklo expects to benefit enormously from Switch’s record of turning visions into reality. The lifespan of this Master Agreement will allow us to iterate and evolve with Switch, from development to deployment to scaling. We believe that working with Switch will not only accelerate our early powerhouses but also accelerate our ability to scale by demonstrating customer demand for decades to come.”

Unlocking the Oklo-Switch Master Power Agreement

The press release highlighted that since January 2016, all Switch data centers have run on 100% renewable energy, totaling nearly 984 million kilowatt-hours yearly. The Master Agreement with Oklo will help Switch create a sustainable infrastructure and boost the market for renewable energy.

Now talking about Oklo, the nuclear giant, is aptly showcasing its business model through this Master Agreement. It aims to simplify access to clean energy by selling power and not power plants. The outcome will be customers getting a direct, flexible pathway to clean, reliable, and affordable advanced nuclear energy.

 Rob Roy, Founder and CEO of Switch said, 

“The relationship with Oklo underscores our commitment to deploying advanced nuclear power at a transformative scale for our data centers, further enhancing our offerings of one of the world’s most advanced data center infrastructures to current and future Switch clients. By utilizing Oklo’s powerhouses, we aim to ensure that Switch remains the leader in data center sustainability while supporting our vision of energy abundance.”

Switch: Redefining Data Centers with Innovation and Sustainability

Switch, founded in 2000 by CEO Rob Roy, is a game-changer for top design, infrastructure, and operator of advanced data center campuses. The company is creating modular, scalable, and sustainable data centers that support AI, cloud, and enterprise clients.

Their advanced solutions range from liquid-cooled AI systems to hyperscale cloud and ultra-secure enterprise data centers. One of their blueprint systems includes the Switch EDGE which is the world’s first and only Class 4 system + system, air-transportable edge data center platform. These designs sustain low-latency performance and unmatched reliability.

The Switch MOD®: Customizable and Scalable Solutions

Another prototype is Switch’s Modular Optimized Design (MOD®) data centers. They are built with the same high standards as its colocation facilities. These data centers can be customized to meet specific client needs and are scalable for future growth.

SWITCH

The MOD® design incorporates Rob Roy’s patented innovations, including 100% Hot Aisle Containment Chimney Pods and Multi-Mode HVAC Units. These features ensure optimal efficiency, reliability, and security. Switch also manufactures these components through exclusive license agreements, making them uniquely available to its clients.

GREEN Initiatives

The company is committed to sustainability and helps clients achieve their environmental goals through its Switch GREEN initiatives. Notably, all Switch data centers run on 100% renewable energy, giving clients instant credibility for their ESG (Environmental, Social, Governance) strategies. Clients also receive 100% green Renewable Energy Credits (RECs) that support their sustainability efforts.

Switch believes that through their innovative designs and green energy solutions they can power the future of data centers while protecting the planet.

Source: SWITCH

Oklo’s Nuclear Edge: Revolutionizing Clean Energy

Oklo, the California-based nuclear tech powerhouse, is revolutionizing clean energy with its innovative nuclear technology. The company is developing advanced nuclear power plants that run on nuclear waste to provide reliable, affordable, and scalable energy solutions.

The company received clearance from the U.S. Department of Energy (DOE) and Idaho National Laboratory (INL) to proceed with site characterization for its first commercial fission power plant in Idaho.

Earlier, it had secured a site use permit from the DOE to access fuel material from INL and submitted the first custom combined license application for advanced fission to the U.S. Nuclear Regulatory Commission.

Expanding Innovation with Atomic Alchemy

Recently Oklo announced plans to acquire Atomic Alchemy Inc. in an all-stock transaction. Atomic Alchemy has signed a Memorandum of Understanding (MOU) with Zeno Power Systems, a leader in Radioisotope Power Systems (RPSs).

In this partnership, Atomic Alchemy plans to provide Zeno Power with radioisotopes like strontium-90 (Sr-90) and americium-241 (Am-241). These materials are essential for powering Radioisotope Thermoelectric Generators, also known as “nuclear batteries.” These systems are ideal for remote or off-grid locations, including space and underwater missions. The radioisotopes can be produced as byproducts from Oklo’s recycling process units.

Thus, Oklo’s mission to lead in delivering clean, sustainable energy by harnessing advanced nuclear technologies is clear. With sustainable partnerships like that with SWITCH, nuclear energy can revolutionize the AI and datacenter universe. 

More Power per Punch: Nuclear Energy Outshines Fossil Fuels

carbon credits

Voluntary Carbon Market Growth: Nature-Based Credits Double Xpansiv CBL Trading Volume

Jennifer L
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Voluntary Carbon Market Growth: Nature-Based Credits Double Xpansiv CBL Trading Volume

The voluntary carbon market (VCM) saw a sharp rise in activity during November as reported by Xpansiv. CBL’s N-GEO standardized contracts and project-specific nature credit trading nearly doubled trading volumes month-over-month. 

Xpansiv runs the largest spot exchange for environmental commodities, such as carbon credits and renewable energy certificates, and excels in registry services for energy and environmental markets.

Trading Doubles as Market Shifts Toward High-Quality Nature Credits

Over 600,000 tons of over-the-counter (OTC) block trades were settled under CBL’s N-GEO and N-GEO Trailing Vintage contracts, with prices ranging from $0.30 to $4.10 per metric ton.

This surge reflects seasonal trends observed last year when November transactions accounted for 8% of the year’s total, doubling October’s volume.

  • By mid-December 2024, over 2 million tons had already been traded, representing 16% of the year’s activity. 

The market appears poised to match December 2023’s high trading levels, where 31% of the year’s volume was processed.

November also marked the debut of a significant upgrade to CBL’s trading capabilities: the introduction of carbon removal credits as a distinct market segment. This new feature allows market participants to view and trade these credits separately, improving transparency and flexibility.

Complementing this initiative is the enhanced Xpansiv Connect portfolio management system. It supports the full lifecycle of removals, carbon, and renewable energy credit positions. By integrating these capabilities, Xpansiv aims to streamline trading operations and portfolio oversight for participants.

Early adoption of the removals segment has been promising, with 6 firms, including project developers Anew and c2invest, listing RMV-tagged credits on the exchange. Anew notably posted 75,000 U.S. forestry project removal credits, signaling strong support for this market innovation.

Market Activity Breakdown: November 2024

Nature Credits Take the Lead

Nature credits continued to dominate VCM activity in November. Over 60,000 recent vintage Asian reforestation credits were traded, with prices ranging between $25.00 and $42.00. 

Xpansiv most active VCM credits November

The volume-weighted average price (VWAP) for AFOLU (Agriculture, Forestry, and Other Land Use) credits surged from $3.76 in October to $9.54 in November. This indicates a growing demand for these high-quality, nature-based solutions.

However, other sectors saw sharp declines in carbon prices:

  • Energy credits fell from $1.47 in October to $0.84.
  • Industrial waste credits dropped from $2.25 to $0.50.
  • Miscellaneous credits declined from $4.01 to $1.06.

These trends suggest a shift in market preference toward nature-based solutions, particularly reforestation projects, which align with sustainability goals and deliver co-benefits such as biodiversity conservation.

Standardized GEO Contracts See Mixed Results

CBL’s Standardized Global Emissions Offset™ (GEO®) contracts experienced significant price fluctuations in November. The VWAP for block trades under the N-GEO contract dropped from $18.10 in October to just $0.77.

This decline partly reflects the types of AFOLU credits traded via the N-GEO contract. In October, the highest-priced N-GEO trade was $26.60, whereas November’s peak was $4.10. 

  • Interestingly, project-specific AFOLU trading hit a new high, with the most expensive credit selling for $42.00 in November, compared to $27.50 in October.

The disparity underscores the evolving market dynamics, where project-specific trading often commands a premium over standardized contracts due to unique attributes and localized benefits of individual projects.

Bid and Offer Highlights

As of late November, market participants placed several significant bids and offers:

  • Renewable energy and AFOLU credits below $1.00 accounted for nearly 400,000 tons of activity.
  • Additional bids for 175,000 tons of renewable energy and older AFOLU credits from Mai Ndombe, Southern Cardamom, and Kasigua were priced between $0.25 and $0.30.

These low-price bids reflect continued interest in older and less premium credits, though the market’s overall focus seems to be shifting toward higher-quality, higher-priced credits, particularly in the nature-based and removal segments.

Is This a New Era for the Voluntary Carbon Market?

The November surge in Xpansiv’s voluntary carbon market activity signals a robust close to 2024. CBL’s efforts to innovate with removal credits trading and enhanced portfolio tools have positioned it to meet the growing demand for transparency and efficiency in environmental markets.

The sharp rise in AFOLU credit prices and the growing popularity of removals reflect the market’s potential to scale impactful projects. With over two million tons traded by mid-December, the VCM is not only demonstrating resilience but also showing signs of maturation, as participants increasingly prioritize quality over quantity.

As market preferences evolve, nature-based credits and removal projects are gaining prominence, attracting higher prices and increased trading volumes. This trend aligns with global efforts to prioritize high-quality solutions that not only offset emissions but also contribute to broader environmental and social benefits.

Is this market activity signal a new era for carbon markets in 2025? Let’s keep watch. 

Canada’s 2035 Emissions Reduction Goal: Everything You Need to Know

Saptakee S
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Canada’s 2035 Emissions Reduction Goal: Everything You Need to Know

Combating climate change has become a significant agenda in all nations’ developmental pathways. To address this challenge, Canada has set a new greenhouse gas (GHG) emissions reduction target for 2035, aiming to slash emissions by 45–50% below 2005 levels.

This reformed target modifies its existing 2030 climate goals, which entailed reducing GHG emissions by at least 40–45% below the same baseline. Through this announcement, the Canadian Government wants to maintain continuity and momentum in its climate efforts. Significantly, it also demonstrates the country’s commitment to tackling the climate crisis while aligning with the emerging global carbon markets and fostering economic growth.

Crafting Canada’s 2035 Climate Blueprint

Canada’s 2035 emissions target was shaped by expert insights, scientific research, and collaboration. The government relied on the latest science, international climate agreements, Indigenous knowledge, and advice from the Net-Zero Advisory Body to guide its decision.

To ensure the target reflected the needs of all Canadians, the government sought input from provinces, territories, Indigenous communities, and other stakeholders. Furthermore, the government allowed Canadians to share their thoughts on climate action and the level of ambition needed through surveys and submissions.

The news release noted that approximately 11,000 people shared their opinions through an online public engagement portal launched in spring 2024. The government also received over 23,000 comments and 100 written submissions. Insights from the Canadian Climate Institute further contributed to shaping this decision.

Throughout the process, household affordability remained a key priority, ensuring the target was both practical and achievable.

Two Laws Driving Canada’s Net-Zero Journey

Canada’s journey to achieving net-zero emissions by 2050 is guided by two key commitments, the Paris Agreement and the Canadian Net-Zero Emissions Accountability Act (CNZEAA).

Internationally, the Paris Agreement requires Canada to set ambitious Nationally Determined Contributions (NDCs). These targets aim to keep global temperature rise well below 2°C compared to pre-industrial levels, with efforts to limit it to 1.5°C.

On the other hand, the CNZEAA ensures the government sets 5-year national emissions reduction targets, at least ten years in advance, along the roadmap to net-zero emissions by 2050. This means Canada’s next target must be established by 2025.

Canada net zero emissionSource: Government of Canada

Bending the Emissions Curve: Canada’s Success Stories

Canada is progressing steadily in its journey to reducing greenhouse gas emissions. While challenges remain, the country’s climate strategy is showing promising results.

The government gives credit to its citizens who have been contributing to the economy that has become less carbon-intensive as compared to 2005. In 2015, projections indicated emissions would rise by 9% by 2030 compared to 2005 levels. However, the emission curve is seen to move downward due to initiatives like improving energy efficiency, transitioning to cleaner energy grids, and implementing carbon pricing.

The Green Municipal Fund

This program is an initiative of the Federation of Canadian Municipalities funded by Environment and Climate Change Canada and Natural Resources Canada and has enabled over 2,300 sustainability projects. Their efforts have avoided more than 2.9 billion tonnes of greenhouse gas emissions. Notably, the program’s impact was highlighted in a Senate report emphasizing the need for expanded initiatives to help municipalities adapt to climate challenges.

Carbon Pollution Pricing

Canada’s carbon pollution pricing is a proven tool for reducing emissions. Between 2019 and 2021, this approach reduced 18 megatonnes of emissions that would have otherwise been released. By 2030, carbon pricing is expected to contribute to one-third of Canada’s total emissions reductions.

Clean Jobs

In 2021, the environmental and clean technology products sector employed over 314,000 workers, marking a 6.5% increase from 2020.

Canada’s progress also includes core regulations like the Clean Electricity Regulations and the Electric Vehicle Availability Standard. Incentives such as the Canada Carbon Rebate and the Canada Greener Homes Initiative make adopting net-zero technologies more affordable for businesses and individuals.

Economic Opportunities in the Clean Transition

The shift to a clean economy offers significant opportunities and Canada is on the right track to lead in green innovation and attract investment.

  • Canada ranks 2nd on the Global Cleantech 100 and 3rd in hydroelectricity production, hosting 20% of global CCUS projects.
  • Achieved renewable energy growth with daily launches of hydro, wind, biomass, biofuel, and solar projects.
  • Attracted $71B in FDI since 2013 and has funded 177 clean energy projects, creating 28,000 jobs.

Furthermore, Canada’s clean electricity, known for being reliable and affordable, is a major competitive advantage. Businesses and industries worldwide recognize its value, drawing investors and creating jobs across the country. In 2021, Canada’s clean technology market was valued at $34 billion, with $9.1 billion in exports.

Supporting Workers and Communities

The new 2035 target report has stressed that the government will ensure Canadians have the tools and support needed to sustain this economy. Core programs, such as the Canada Greener Homes Initiative, help individuals and businesses transition to sustainable technologies. Although these technologies may have higher upfront costs, they offer long-term savings and significant emissions reductions.

As Canada advances sectoral transformation, workers will benefit from new opportunities in clean energy and technology. The transition will position the country as a global leader in green innovation.

A Pledge to Protect and Lead

By 2025, Canada will submit this target as its NDCs under the United Nations Framework Convention on Climate Change. Within the following year, the government will outline the key actions required to meet the goal. By December 2029, a detailed 2035 Emissions Reduction Plan will lay out the specific policies and initiatives to achieve the target.

It is now evident that the 2035 emissions reduction target is a bold commitment to drive real change. It’s a pledge to protect Canadians from climate threats like wildfires, floods, and extreme weather. Simultaneously, it strengthens Canada’s global leadership in clean energy and paves the way for a more resilient net zero future.

Crusoe Energy’s $600M Raise Fuels AI Revolution with Clean Energy Data Centers

Jennifer L
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0
Crusoe Energy’s $600M Raise Fuels AI Revolution with Clean Energy Data Centers

Crusoe Energy Systems, a clean energy and AI infrastructure innovator, has raised $600 million in a Series D funding round, propelling its valuation to $2.8 billion. The company receives backing from prominent investors like Founders Fund, Nvidia, and Fidelity. With this funding, Crusoe is set to address the growing energy needs of artificial intelligence (AI) while prioritizing sustainability.

From Flaring to AI: How Crusoe is Scaling Clean Energy Data Centers

Founded in 2018, Crusoe began by tackling natural gas flaring—an environmentally harmful process where excess gas like methane is burned at oil sites. Using its Digital Flare Mitigation technology, Crusoe converted waste gas into energy to power small, containerized data centers. This approach reduces methane emissions while offering oil and gas companies a reliable, cost-free alternative to routine flaring.

  • According to the company, 1 Crusoe DFM-powered GPU reduces emissions by ~4.4 carbon dioxide equivalent metric tons per year.

Initially focused on cryptocurrency mining, the company has since shifted to AI-driven workloads, building clean energy data centers designed for the immense computational demands of machine learning (ML) and generative AI.

The recent funding round fuels Crusoe’s vision of building vertically integrated, AI-focused data centers powered by clean energy. A flagship project in Abilene, Texas, developed in partnership with Blue Owl Capital and Primary Digital, exemplifies this mission. 

This facility, spanning 998,000 square feet, is capable of housing up to 100,000 GPUs and delivering over 1.2 gigawatts of power—enough to support the energy needs of approximately 700,000 homes.

Chase Lochmiller, co-founder and CEO of Crusoe, emphasized the importance of building the facility, noting that:

“We’ve designed this data center to enable the largest clusters of GPUs in the world that will drive breakthroughs in AI.”

Crusoe’s newly launched Crusoe Cloud platform extends its capabilities to developers and researchers globally. Designed specifically for AI and machine learning workloads, the platform provides high-performance computing power while aligning with the company’s sustainability goals. 

By leveraging stranded and waste energy, Crusoe ensures that its cloud services contribute to environmental preservation without compromising on performance.

Addressing AI’s Growing Energy Demands with Nvidia’s Support

The rise of AI technologies has spiked energy demands for data centers worldwide. According to the International Energy Agency (IEA), data centers consumed 460 terawatt-hours (TWh) of energy in 2022. This figure will double by 2026. 

According to an analysis by the Electric Power Research Institute (EPRI), data center energy use in the U.S. will double driven by AI.

US data centers power use under 4 scenarios EPRI analysis

SEE MORE: US Data Center Power Use Will Double by 2030 Because of AI

  • Global energy demands for computing are surging, with projections of over 38GW by 2030. Meanwhile, inefficiencies in energy use persist: 144 billion cubic feet of natural gas were flared in 2021 and data centers alone could consume over 8% of global electricity by 2030, up from just 1% in 2020, per the IEA data.

Major companies like Microsoft, Google, and Amazon have cited energy consumption as a key hurdle in their decarbonization efforts. Crusoe’s innovative model offers a sustainable solution by repurposing waste energy and incentivizing the development of new low-carbon power sources.

By using Digital Flare Mitigation (DFM) and Digital Renewable Optimization (DRO) technologies, Crusoe captures and converts natural gas that would otherwise be flared. It also strategically positions its computing workloads near renewable energy sources, reducing inefficiencies and emissions.

The $600 million Series D round reflects the industry’s confidence in Crusoe’s ability to balance energy efficiency and technological advancement. Key supporters include Nvidia, which sees Crusoe’s infrastructure as crucial for advancing AI. Other major players like Deloitte and Vast Data do the same.

Sean Liu, Partner at Founders Fund, remarked on the company’s work, noting that:

“Crusoe is reimagining AI infrastructure from the ground up to meet and exceed organizations’ demands, powering the next wave of innovation in a sustainable way.”

The Environmental Benefits of Crusoe’s Model

Crusoe’s approach addresses two critical challenges: 

  1. Reducing methane emissions and 
  2. Supporting high-performance AI infrastructure. 

Methane, a potent greenhouse gas, is often released during flaring, contributing significantly to climate change. By converting this waste into a productive energy source, Crusoe mitigates environmental harm while fueling technological progress.

In addition to natural gas, Crusoe taps into stranded and surplus renewable energy, further reducing reliance on traditional fossil fuels. The company’s operations span 9 U.S. states and 3 countries, including Iceland. And it has more than 15 gigawatts of clean energy projects in development.

Through its DFM tech in the U.S., Crusoe was able to avoid over 680,000 metric tons of GHG emissions. The infographic below further shows how the company’s DFM helps reduce emissions.

Crusoe DFM emission reduction

When it comes to its own GHG footprint, Crusoe actively tracks and reduces it by measuring Scope 1, 2, and 3 emissions annually with Emitwise’s carbon accounting platform, aligned with the GHG Protocol. The company uses quantity and spend data to calculate emissions across its operations, value chain, and employee activities.

Crusoe GHG emissions
Crusoe GHG footprint 2023

In 2023, despite business growth doubling emissions, Crusoe’s Digital Flare Mitigation technology significantly reduced methane emissions by capturing flared gas for energy use. Combined with renewable energy purchases, Crusoe avoided more emissions than it produced, and so, Scope 2 emissions are zero.

Revolutionizing Energy Use of AI Infrastructure

Crusoe’s clean energy data centers could support the future of AI. By combining energy efficiency with technological capability, the company offers a scalable solution to the industry’s growing demands. Its vertically integrated approach enables rapid deployment of cutting-edge infrastructure, allowing it to outperform legacy cloud providers in cost and speed.

This innovative model not only meets immediate energy needs but also sets the stage for long-term sustainability. By lowering the cost of clean energy-powered AI computing, Crusoe aligns the future of computing with global climate goals.

With its latest funding, Crusoe plans to expand its data centers, enhance its cloud platform, and support the development of new clean energy projects, while remaining committed to technological innovation.

As the demand for AI infrastructure continues to grow, Crusoe’s sustainable model offers a clear path forward. By turning waste energy into a valuable resource, the company is proving that AI advancements can coexist with a greener, more sustainable future.

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