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New Fortress Energy Sells Jamaica LNG and Power Assets to Excelerate for $1.055B
Pennybacker Acquires Baseline Energy to Expand Distributed Power Fleet
GeoRedox & Sage Geosystems Team Up to Unlock Low-Cost Geologic Hydrogen
Captura Sells First DOC Carbon Credits, Inks 30,000-Ton Deal with MOL
TotalEnergies & Partners Greenlight Phase 2 of Northern Lights CCS Project
PG&E Advancing $43 Million for Nine Community Microgrids in California
Equinor Acquires 95 MW Lyngsåsa Wind Farm in Southern Sweden
GridPoint Raises $45M to Expand Internationally and Support Grid Resilience
TotalEnergies Reports Sustainability Progress, Sets Stricter 2025 Targets
The almost headlines
In case you missed
Transaction Size: NFE will sell its Jamaican LNG import terminals and 150 MW CHP plant to Excelerate Energy for $1.055B.
Strategic Shift: Sale aligns with NFE’s portfolio optimization strategy; proceeds will be used to pay down debt.
Legacy Impact: NFE helped Jamaica reduce reliance on oil since entering the market in 2016; Excelerate aims to build on this with global LNG services.
Acquisition: Pennybacker Capital bought Baseline Energy, which operates 210 MW of mobile natural gas generation assets.
Growth Plan: Targeting 1 GW of flexible, low-carbon power for data centers, industry, and utilities.
Baseline Reach: Active in 8 U.S. states with a 1,200-unit fleet, supporting rapid deployment and cost-effective energy resilience.
Hydrogen Breakthrough: New “stimulated geologic hydrogen” method enhances natural mineral reactions underground.
Demo Project: Field demonstration with Sage Geosystems set for 2026; aims to validate large-scale, carbon-free H₂ near industrial sites.
Game-Changer: Tech could tap into Earth’s crust iron reserves for low-cost hydrogen, leveraging O&G drilling techniques.
Backed by Science: Founded by MIT scientists, GeoRedox blends geochemistry + deep tech to meet rising hydrogen demand.
Milestone: Captura signed a 30,000-ton carbon credit offtake with Mitsui O.S.K. Lines, marking its first commercial sale.
Tech: Captura’s Direct Ocean Capture (DOC) tech removes CO₂ by extracting it from seawater.
Next Phase: Commercial facilities will capture 30,000–50,000 tons/year; Captura will license tech to global partners.
Capacity Boost: Expanding CO₂ storage from 1.5M to 5M tonnes/year by 2028, investing NOK 7.5B.
Anchor Offtake: 15-year deal with Stockholm Exergi for 900K tonnes/year starting 2028.
CCS Infrastructure: Will include new tanks, ships, injection wells, and leverage existing storage off Norway’s coast.
Strategic Impact: Seen as a cornerstone project for scaling carbon removal across European industry.
Grant Funding: PG&E will award up to $43M to support 9 new community microgrids under California’s $200M Microgrid Incentive Program (MIP).
Community Impact: Projects will serve ~9,000 customers, including tribal communities and people with access and functional needs, in Humboldt, Lake, and Marin Counties.
Clean Tech: Microgrids will use solar + battery storage and receive $1–6M each, plus up to $1M for interconnection.
Capacity & Output: The 95 MW Lyngsåsa wind farm generates ~300 GWh/year, ~10% of Equinor’s 2024 renewables output.
Commercial Model: Energy sold into the southern Swedish spot market, boosting merchant exposure and operational cashflows.
Ownership & Ops: Equinor now owns 100% of Lyngsåsa Kraft AB; BayWa r.e. remains technical and commercial operator.
Asset Details: Located in Alvesta, Sweden, the 22-turbine project has been operational since September 2021.
Funding: GridPoint raised $45M, led by Marunouchi Innovation Partners, with backing from Goldman Sachs, Shell Ventures, and others.
Growth Strategy: Capital will accelerate expansion into Japan and South Korea and scale its intelligent energy platform.
Product Impact: GridPoint’s software has been deployed in 20,000+ commercial buildings, improving energy efficiency and grid flexibility amid surging AI and EV-driven demand.
2024 Highlights: Reduced methane emissions by 55%, cut upstream CO₂ intensity to 17 kg/boe, and invested $5B in low-carbon energy.
New 2025 Targets: Scope 1 & 2 emissions cap set at <37 MtCO₂e; lifecycle product intensity target at -17% vs. 2015.
Power Play: Net electricity production rose 23%, with $4B invested in integrated power projects.
Bayswater Completes $603M Sale of DJ Basin Assets to Prairie Operating
Asset Sale: Bayswater sold 24,000 acres, 300 wells, and a SWD system producing 27,500 BOE/d for $603M in cash and stock.
Airbus Showcases Hydrogen Aircraft Technology Roadmap at 2025 Summit
ZEROe Program Update: Airbus revealed a new hydrogen aircraft concept with 4 electric engines powered by fuel cells and liquid hydrogen tanks.
Inlyte & HORIEN Partner to Scale Iron-Sodium Battery Manufacturing in U.S.
Tech Expansion: Plans underway for Inlyte Factory 1, set to open by 2027, based on HORIEN’s sodium-metal chloride battery architecture.
Check out the latest Sunya Stories podcast with Bala Nagarajan from S2G Investments
Bala Nagarajan is Managing Director of the Energy Investment team at S2G Investments.
You can find it on Spotify or Apple Podcasts.
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
