Insights

Macquarie Asset Management Commits $US350 Million to Support Nexamp in Its U.S. Utility-Scale Solar and Battery Storage Expansion

DETAILS

- Macquarie Asset Management announced it has facilitated $US350 million of long-term financing to Nexamp, Inc. to support utility-scale solar and battery storage projects. - Nexamp is a leading developer, owner, and operator of distributed generation solar and storage assets in the U.S. - The company expanded into the utility-scale solar sector in 2021 and is seeking financing for its 6 GW utility-scale project pipeline. - Harlan Cherniak stated that this financing will allow Nexamp to achieve rapid success in the utility-scale energy transition market. - Matthew Sweeney emphasized the significant need for utility-scale solar and battery storage projects due to rising electricity demand. - Zaid Ashai highlighted that Nexamp is well positioned to quickly bring utility-scale projects online with this new financing. - Macquarie Asset Management's Credit & Insurance division manages approximately $US222 billion in assets. - The platform has around $US40 billion of private credit assets under management.

COMPANIES

Macquarie Asset Management, Nexamp, Inc.

TAGS

Solar

NextDecade Announces Positive Final Investment Decision and Financial Close on Train 4 at Rio Grande LNG

DETAILS

- NextDecade Corporation announced a positive final investment decision on Train 4 at Rio Grande LNG on September 9, 2025. - A full notice to proceed was issued to Bechtel Energy Inc. for Train 4. - Train 4 is fully funded with no impact to NextDecade common shares outstanding. - Train 4 is expected to have a production capacity of approximately 6 million tonnes per annum. - Total expected LNG production capacity under construction at Rio Grande LNG is approximately 24 million tonnes per annum. - Train 4 is commercially supported by 4.6 million tonnes per annum of long-term LNG Sale and Purchase Agreements. - The substantial completion date for Train 4 and the date of first commercial delivery are anticipated in the second half of 2030. - Project costs for Train 4 and related infrastructure are expected to total approximately $6.7 billion. - NextDecade closed on approximately $6.7 billion in committed financing for Train 4. - The financing includes a $3.85 billion term loan facility and $1.13 billion in equity commitments from NextDecade. - Additional equity commitments of $1.70 billion came from financial partners including Global Infrastructure Partners and TotalEnergies. - NextDecade received $98 million at financial close for development costs and expects to receive an additional $50 million in 2026. - The company has an initial economic interest of 40% in Train 4, which will increase to 60% after certain returns on investments are achieved. - NextDecade financed its equity commitments without any impact to common shares outstanding. - The financing structure includes a delayed draw bank facility and a term loan with a mix of interest rates and terms. - NextDecade expects to make a positive investment decision on Train 5 in the fourth quarter of 2025. - Train 5 is commercially supported by 4.5 million tonnes per annum of long-term LNG Sale and Purchase Agreements. - Train 5 is also expected to cost approximately $6.7 billion, with a similar financing structure to Train 4. - The company aims for an initial economic interest of 50% in Train 5, increasing to 70% under certain conditions. - The anticipated substantial completion date for Train 5 is in the first half of 2031.

COMPANIES

NextDecade Corporation, Bechtel Energy Inc., ADNOC, TotalEnergies, Aramco, Global Infrastructure Partners, BlackRock, GIC, Mubadala Investment Company, JERA, EQT Corporation, ConocoPhillips

TAGS

lng

Mast Completes Innovative Post-fire Carbon Removal Project with Biomass Burial (BiCRS) in Montana

DETAILS

- Mast Reforestation has completed a biomass burial project in Montana, burying 10 million pounds of fire-killed trees. - This project is the largest single biomass storage initiative to achieve verification and carbon credit generation within a year of launch. - The project was launched at the Mast Wood Preserve MT1 site, and it began monitoring for greenhouse gas emissions shortly after completion. - Mast has combined burned biomass burial with post-wildfire reforestation, establishing itself as a leader in Terrestrial Storage of Biomass. - The biomass burial methodology captures carbon effectively, making it a viable pathway for carbon dioxide removal. - The MT1 project is expected to generate up to 5,000 tonnes of carbon removal credits by Q1 2026. - The project uses rigorous monitoring and verification processes to ensure integrity and voluntary carbon market standards. - There have been no greenhouse gas emissions detected in the burial chamber, demonstrating compliance with project design. - More than 10 million pounds of fire-killed trees that were previously set for burning have now been buried to prevent carbon release. - The carbon credits generated from this project will finance reforestation efforts on the same landscape to support ecological recovery. - The surrounding area of MT1 contains rich biodiversity, cultural heritage, and will allow for ongoing sustainable land stewardship. - Mast is currently growing seedlings from local wild seeds for planting in 2026 to support future forest growth. - The MT1 project aims to address the challenges of modern wildfires and introduces new methods to accelerate reforestation. - Significant revenue from carbon credit sales is pivotal for reforestation in areas affected by high-severity fires. - MT1 carbon credits are available for pre-sale through platforms like CEEZER and Cloverly. - The project has received high ratings for low execution risk, positioning it favorably among non-nature-based projects. - Mast continues to refine its processes and methodologies based on early feedback to enhance project efficiency. - Mast Reforestation's efforts are part of a larger movement to combat the effects of intensive wildfires on forest ecosystems.

COMPANIES

Mast Reforestation, Puro.earth, Supercritical, Silvaseed, Cal Forest Nurseries, CEEZER, Cloverly

TAGS

Carbon Capture Utilization and Storage

Torus Raises $200 Million to Accelerate Deployment of Modular Power Plants for Utilities, Data Centers, and Industry

DETAILS

- Torus Inc. secured a $200 million investment from Magnetar to enhance the deployment of its modular power plants. - The partnership aims to address the increasing electricity demand due to artificial intelligence, cloud computing, and electrification. - Torus uses an inertia-based, flywheel-battery hybrid system that offers quicker and more durable energy storage. - This investment arrives at a pivotal moment as energy demand surges from technological advancements. - Torus has established partnerships with regulated utilities and various commercial and industrial clients, highlighting the dependability of its technology. - Torus's modular power plants can be located at the grid's edge or on-site, providing rapid responses to grid signals. - The technology forms a distributed "grid operating system," promoting a reliable and secure energy infrastructure. - Torus has received significant regulatory approvals, facilitating partnerships with utilities like PacifiCorp, which involve substantial demand response capacities. - Torus is redefining energy infrastructure, intending to establish a decentralized grid model. - The company collaborates with notable industrial and commercial entities to ensure operational reliability where uptime is crucial. - Data centers are increasingly reliant on Torus's technology to manage the growing power demands of AI applications. - Torus's systems offer superior performance, including true inertia and high uptime rates, essential for critical facilities. - The company is set to expand production significantly with a new manufacturing campus named GigaOne, aiming for over one gigawatt output per quarter. - The recent investment will also support the development of GigaOne to meet customer demand more effectively. - Torus has already deployed its technology extensively, demonstrating its essential role in the modern energy landscape. - Magnetar views the investment in Torus as a chance to redefine energy infrastructure and create a new utility model. - Torus's hybrid energy systems provide stabilizing services comparable to traditional power plants without harmful emissions. - TIME magazine recognized the Torus Spin as one of the Best Inventions of 2024, reflecting its innovative impact on the energy sector.

COMPANIES

Torus Inc., Magnetar, PacifiCorp, Varex, PWDR Resorts, Ash Grove Cement, Salt Lake City International Airport

TAGS

Fundraising

Commonwealth Fusion Systems Raises $863 Million Series B2 Round to Accelerate the Commercialization of Fusion Energy

DETAILS

- Commonwealth Fusion Systems raised $863 million in a Series B2 fundraising round to advance fusion power commercialization. - This funding round is the largest in deep tech and energy since CFS' previous $1.8 billion Series B round in 2021. - CFS has raised close to $3 billion total, representing about one-third of all private fusion investment globally. - CFS's CEO, Bob Mumgaard, expressed that investors see the feasibility of fusion power as CFS progresses toward its goals. - CFS has expanded its international investor base, including established investors like Morgan Stanley and Google. - New investors in CFS range from venture capitalists to hedge funds and sovereign wealth funds. - A consortium of 12 Japanese companies, led by Mitsui & Co. and Mitsubishi Corporation, participated in this funding round. - Existing investors increased their stakes, including Breakthrough Energy Ventures and Google, which will buy half the power from CFS's future plant. - The funds will be utilized for the development of SPARC, a fusion demonstration machine, and the first ARC power plant in Virginia. - CFS aims to build the first grid-scale fusion power plant by the early 2030s, with strategic partnerships with Dominion Energy and Google. - Investors expressed high confidence in CFS's potential to deliver safe and abundant clean energy. - CFS's advancements in high-temperature superconducting magnets and strong execution efforts were noted as critical to their success. - The funding round validates CFS's path toward commercial fusion power. - CFS's efforts are seen as crucial in meeting global energy demands amid increasing electrification and AI use. - CFS is committed to expanding energy access to improve quality of life and energy security through fusion technology. - The industrial impact of commercial fusion is viewed as transformative for human progress and history.

COMPANIES

Commonwealth Fusion Systems, Counterpoint Global, Morgan Stanley, Google, Stanley Druckenmiller, Brevan Howard Macro Venture Fund, FFA Private Bank, Galaxy Digital Inc., Gigascale Capital, HOF Capital, Neva SGR, Intesa Sanpaolo Bank, NVentures, NVIDIA, Planet First Partners, Woori Venture Partners US, Mitsui & Co., Mitsubishi Corporation, Development Bank of Japan Inc., Fujikura Ltd., JERA Co., Inc., JGC Japan Corporation, Mitsui Fudosan Co., Ltd., Mitsui O.S.K. Lines Ltd., NTT, Inc., Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank Ltd., The Kansai Electric Power Co., Inc., Breakthrough Energy Ventures, Emerson Collective, Eni, Future Ventures, Gates Frontier, Hostplus Superannuation Fund, Khosla Ventures, Lowercarbon Capital, Safar Partners, Eric Schmidt, Starlight Ventures, Tiger Global, Dominion Energy

TAGS

fundraising

Frontier buyers sign $31M deal with Planetary to advance ocean alkalinity enhancement

DETAILS

- Ocean alkalinity enhancement could remove billions of tons of CO₂ annually at a price of approximately $50-160 per ton. - Planetary has developed measurement, reporting, and verification protocols that make them suitable for this scale of carbon removal. - OAE helps reverse local ocean acidification, benefiting coastal marine ecosystems. - Frontier facilitated a $31.3 million offtake deal with Planetary to remove 115,211 tons of CO₂ from 2026 to 2030. - Planetary's pilot project recently delivered the world’s first verified OAE tons. - OAE using alkaline mineral addition has a viable path to remove CO₂ at low costs, potentially below $100 per ton. - The process of adding dissolved alkaline minerals improves the ocean's ability to drawdown carbon by converting CO₂ into stable bicarbonate ions. - Planetary utilizes existing coastal facilities to ensure effective integration without new infrastructure investments. - Planetary's approach avoids disruption to biological carbon cycling and food webs by using the ocean's chemical buffering system. - Environmental monitoring is integrated into the OAE process, ensuring rigorous safety controls are in place. - The company conducts extensive screening of feedstocks, monitors discharge water in real-time, and has a stop trigger plan for safety. - Planetary's MRV methods reduce uncertainty in measuring carbon removal in marine environments. - Their OAE method improves conditions for marine species like oysters and crabs, benefiting aquaculture and natural ecosystems. - Planetary is collaborating with academic institutions and local communities to research the co-benefits of their approach. - Data from the project will be shared publicly in accordance with FAIR data principles. - Frontier has secured purchases from Founding Members including Stripe, Google, and Shopify, among others. - Mike Kelland, CEO of Planetary, emphasized the importance of demonstrating the OAE's scalability and effectiveness. - Hannah Bebbington from Frontier highlighted the need for robust measurement and community engagement in expanding OAE beyond small-scale trials. - Indigenous leaders expressed support for innovative climate solutions and emphasized the importance of incorporating Indigenous voices in environmental initiatives.

COMPANIES

Frontier, Planetary, Lithos, Eion, Terradot, CarbonRun, CREW, Stripe, Google, Shopify, McKinsey Sustainability, Autodesk, H&M Group, Workday, Aledade, Canva, Match Group, Samsara, SKIMS, Skyscanner, Wise, Zendesk, Ulnooweg, Ulnooweg Indigenous Communities Foundation, The Confederacy of Mainland Mi’kmaq

TAGS

Carbon Capture Utilization and Storage

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