Insights

Williams invests in ION Clean Energy

DETAILS

- Williams has invested in ION Clean Energy, a carbon capture technology firm. - The investment aligns with Williams' growth strategy in carbon capture, utilization, and storage efforts. - Jaclyn Presnal emphasized the investment's environmental and economic benefits. - ION has developed patented technology to capture CO2 emissions using a liquid amine system. - The firm is creating a standard plant design for economical solutions targeting smaller point sources. - Williams aims to partner with ION to deploy these modular plants efficiently. - ION is also working on several carbon capture projects for natural gas combined cycle power plants. - Williams is one of the largest natural gas transporters in the U.S. - Natural gas combined cycle power plants account for over 32 percent of U.S. power generation. - The investment leverages the proximity of these plants to Williams' service area for collaboration. - Williams made the investment through its Corporate Venture Capital program. - The CVC program supports commercialization of emerging technologies like clean hydrogen and solar. - Williams has committed over $50 million to venture funds and direct investments in energy transition technologies.

COMPANIES

Williams, ION Clean Energy, Context Labs, Encino Environmental Services, Aurora Hydrogen, Orbital Sidekick, LongPath

TAGS

Carbon Capture Utilization and Storage

EDPR NA Distributed Generation Announces Completion of Morgan East and West Community Solar Projects Near Syracuse, New York

DETAILS

- EDPR NA Distributed Generation LLC announced the completion of the Morgan East and West community solar projects in Clay, New York. - The projects will collectively provide 9.5 MWac of energy to corporate offtakers and local residential and small business customers. - Morgan East Solar Park generates 4.5 MWac primarily for PaperWorks Industries. - Morgan West Solar Park generates 5 MWac primarily for QubicaAMF Worldwide, LLC and Sabin Metal Corporation. - Approximately 60% of the total generation will benefit residential and small business subscribers in the area. - Community solar projects contribute to lower household electricity costs, reduce carbon emissions, and enhance energy resilience. - These projects enhance the local energy grid by diversifying the energy portfolio and increasing access to affordable solar energy. - The projects have fostered partnerships with key organizations like PowerMarket and NRG Energy's Renewables Advisory. - Joao Barreto, CEO of EDPR NA DG, emphasized the importance of these projects in advancing New York State's decarbonization goals. - The projects are expected to create economic benefits for the communities in Clay and Syracuse by providing reliable energy to local manufacturing facilities and households. - During construction, the projects created 75 jobs and contributed $6.8 million to local businesses. - Morgan East and West projects are anticipated to provide $12 million in payments to local governments. - Investments in renewable energy development have increased in New York due to favorable community solar policies. - Policy-enabled community solar offers a low-risk, buyer-friendly approach to renewable energy savings. - EDPR NA DG made history in 2021 by launching a community solar and storage facility in New York for low-to-moderate income housing. - With these new projects, EDPR NA DG's total operational capacity in community solar projects will reach 58 MWac. - EDPR NA DG remains a top leader in distributed generation in the US, owning and operating over 274 MWac of solar and storage assets across 539 sites in 24 states. - Over 251 thousand tons of CO2 have been avoided through the production of clean distributed energy by EDPR NA DG.

COMPANIES

EDPR NA Distributed Generation LLC, EDP Renewables North America LLC, PaperWorks Industries, QubicaAMF Worldwide, LLC, Sabin Metal Corporation, PowerMarket, NRG Energy, CBRE Renewables

TAGS

Solar

Zap Energy attracts $130mm in fresh capital as demo power plant system begins operations and aims for first milestone

DETAILS

- Century is the first fully-integrated demonstration of several fusion power plant-relevant technologies, including a significant test of a plasma-facing liquid metal blanket. - It has successfully completed over 1,000 consecutive plasmas in a short duration in a chamber lined with flowing liquid metal. - Zap Energy raised $130 million in Series D funding, led by Soros Fund Management LLC and supported by several new investors. - The funding will advance plasma R&D and systems-level plant engineering, including new generations of the FuZE device and a pulsed power capacitor bank. - The team aims to achieve a milestone as part of the DOE's Milestone-Based Fusion Development Program by year-end. - Zap CEO Benj Conway emphasized a parallel approach to fusion commercialization, integrating science, engineering, and commercialization simultaneously. - The company's fusion approach, sheared-flow-stabilized Z pinch, avoids large superconducting magnets and is smaller than conventional systems. - It is crucial for plasmas to meet the triple product criteria for fusion energy generation: they must be hot enough, dense enough, and long enough. - Zap has a history of rapid progress in plasma physics and is developing new devices to harness fusion energy. - Century aims to integrate and test three major power design aspects: pulsed power supplies, plasma-facing circulating liquid metal walls, and strategies to mitigate electrode damage. - Century will fire high-voltage power pulses every ten seconds and circulate up to 70 kilograms of hot liquid bismuth initially. - The structure uniquely orients the Z-pinch chamber vertically with pulsed power injected from the top and cooling liquid metals circulating at the base. - The first test of plasmas and flowing liquid metal was on June 13, achieving a run of 1,080 consecutive shots shortly after. - The project will gradually ramp to 100 kilowatts of power, roughly equivalent to the energy use of 75 U.S. homes. - Century is close to the size of a future Zap Energy module designed to produce 50 megawatts of electricity. - Zap Energy focuses on creating a low-cost, compact, and scalable fusion energy platform and has 150 employees across Seattle and San Diego.

COMPANIES

Zap Energy, Soros Fund Management LLC, BAM Elevate, Emerson Collective, Leitmotif, Mizuho Financial Group, Plynth Energy, Xplor Ventures, Addition, Breakthrough Energy Ventures, Chevron Technology Ventures, DCVC, Energy Impact Partners, Lowercarbon Capital, Shell Ventures

TAGS

nuclear

VALOREM Group involved in a 550M€ deal to accelerate growth and development

DETAILS

- The VALOREM Group, an independent renewable energy operator, received a firm offer on October 5th 2024 to raise €200 million from a consortium including AIP Management and IDIA. - GSO and IRDI reaffirm their support for the deal, with Bpifrance participating through its France Investissement Energie Environnement 2 fund. - 3i Infrastructure plans to sell its stake in VALOREM after eight years of investment. - VALOREM has increased its installed capacity fivefold and anticipates producing 1.5 TWh in 2024. - The Group has expanded its international presence, with a project portfolio totaling 6.6 GW. - The partnership between VALOREM and AIP began in 2022 with financing for the Maatkusaari wind farm in Finland. - AIP has a strategy of investing in strong market fundamentals and well-positioned companies in the renewable energy sector. - IDIA, a Crédit Agricole Group private equity firm, joins the investment alongside CAAP Energies, reinforcing their historical ties with VALOREM. - Bpifrance renews support as a shareholder and investor through its dedicated fund for ecological and energy transition. - Historical local shareholders, including Grand Sud-Ouest Capital and Crédit Agricole Aquitaine Expansion, continue to support VALOREM’s management and local commitments. - VALOREM's founders, their families, and employees will retain the majority of the Group's capital and voting rights. - The transaction completion is subject to a consultation procedure and regulatory approvals, anticipated in the first quarter of 2025. - VALOREM expresses gratitude to employees and advisors for their contributions to the successful deal. - AIP aims to support VALOREM's ambitious expansion plans within the renewable energy sector. - VALOREM commits to remaining one of the last independent French Independent Power Producers in the market. - VALOREM celebrates its 30th anniversary as a pioneer in the green energy sector. - Founded in 1994, VALOREM specializes in renewable energy management and operates across multiple countries, employing nearly 500 people. - AIP Management focuses on investments that facilitate the energy transition across Europe and North America. - IDIA provides long-term support for companies in the energy transition, contributing to a low-carbon economy. - Bpifrance supports entrepreneurial development through a range of financial products and assistance programs. - The France Investissement Energie Environnement 2 fund supports players in France’s energy and environmental transition sectors.

COMPANIES

VALOREM Group, AIP Management, IDIA, GSO, IRDI, Bpifrance, 3i Infrastructure, Crédit Agricole Group, CAAP Energies, Grand Sud-Ouest Capital, Crédit Agricole Aquitaine Expansion, ASTRIS, BNPPARIBAS, LAZARD, CLIFFORD CHANCE, PWC AVOCATS, AUGUST&DEBOUZY, KPMG, WATSON FARLEY, MARSH, EVEROZE, AURORA, DROOMS

TAGS

Fundraising

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