ExxonMobil Corporation announced entering a definitive agreement to acquire Denbury. Denbury is a developer of carbon capture, utilization and storage (CCS) solutions and enhanced oil recovery.The acquisition is an all-stock transaction which values at $4.9 billion. Based on Exxon Mobil’s closing price on July 12, 2023, it is $89.45 per share. As per the terms…
Avnos is a Los Angles-based direct air capture company, developing a Hybrid Direct Air Capture (HDAC) technology to remove carbon. It has announced to sign a multi-year strategic and investment partnership with more than $80 million in total with its partners. The partners are ConocoPhillips, JetBlue Ventures, corporate venture capital division of JetBlue, and Shell…
FAA invests $92 million in aviation sector to accomplish net zero targets in this field by 2050. The mentioned investment is a part of a $268 million in grants. The $92 million will fund 21 airports to transition their infrastructure and facilities to meet net zero goal in time. Additionally, as part of this sustainability…
INPEX, an exploration and production company based in Japan, has announced it has agreed to purchase 50% shares of Enel Green Power Australia (EGPA). Enel Green Power Australia is a subsidiary of the Italian utility company Enel S.p.A., aka (Enel). Enel S.p.A. is divided into two entities. These entities, Enel Green Power Australia Pty Ltd…
Bosch, a technology and services supplier, has begun mass production of its fuel-cell power module. The company plans to use hydrogen as a fuel for vehicles. It is working to develop technology for its production and application. By 2030, Bosch estimates that it will make sales of approximately 5 billion euros with its hydrogen technology….
The International Energy Agency’s (IEA) new report states that the market for minerals has doubled over five years. Since companies are moving towards clean energy transition to reduce emissions, mineral are a substitute that is offering clean energy. It helps companies’ power electric vehicles, wind turbines, solar panels and other technologies that are crucial for…
The International Air Transport Association (IATA) and the Aviation Impact Accelerator (AIA) have announced a collaboration. This collaboration is to speed up the transition to net zero for the aviation sector by 2050. Aviation Impact Accelerator is an international industry-academia partnership based at the University of Cambridge. Under the alliance, the organizations plan to assess…
Bluesphere Ventures is a venture studio specializing in incubating environmental fintech ventures. It announced to acquire Climate Carbon, a Canadian broker of carbon and renewable energy credits. The acquisition is has the potential to reshape the industry and sustainability practices, claims the report. Bluesphere Ventures studio aims to nurture start-ups that create carbon credit and…
EcoOnline has signed a definitive agreement to acquire Ecometrica. Ecometrica provides ESG and Sustainability software to companies to reduce carbon footprint. The company is an EHS (Environment, Health and Safety) and ESG (Environmental, Social and Governance) software provider. The acquisition will increase EcoOnline’s presence in the ESG market. It will enhance the platform’s capabilities and…
AXA announces new decarbonisation targets, for its insurance and investment portfolios, in its 2023 Climate & Biodiversity report. The report, in its 8th edition of Climate & Biodiversity, refers to the legal obligations for extra-financial reporting and to the voluntary recommendations by the Task Force on Climate-related Financial Disclosures (TCFD) and the Task Force on…