Microsoft signed a long-term contract to buy 315,000 metric tons of CO2 removal from Heirloom. It is a direct air capture company that utilizes the properties of limestone to curb CO2. The company’s news mentions that the deal follows Heirloom’s DAC Hub selection by the U.S. Department of Energy for up to $600 million in…
Saipem launched Bluenzyme, a CO2 capture solution, using proprietary enzymatic technology “CO2 Solutions by SAIPEM”. Saipem is a company in the engineering and construction of energy and infrastructure projects, on both offshore and onshore. Bluenzyme claims to be a ready-to-use package for small and medium emitters. The product has a capture capacity of 200 tonnes…
Boston Metal, a metals technology solutions company, has announced a Series C closing at $262 million. The existing investors include Breakthrough Energy Ventures, and others made additional investments in Series C, including Microsoft’s Climate Innovation Fund, BHP Ventures, and Prelude Ventures. The new investors include – Aramco Ventures, investment manager M&G Investments, natural resource investment…
Santander Corporate & Investment Banking (Santander CIB) has announced acquisition of a stake in sustainable energy company EIT InnoEnergy. The acquisition is a part of a EUR 140 million investment having other partners. InnoEnergy has a portfolio of 200 companies, of which three are unicorns estimated to generate €110 billion in revenue and save 2.1G…
Coca-Cola Europacific Partners (CCEP) has announced investment into carbon conversion research to explore better sustainable packaging materials. The project will be carried out by researchers at Swansea University and aimed at venturing the new methods of manufacturing ethylene. Ethylene is a material for making plastic, like the HDPE manufactured bottle caps. CCEP Ventures (CCEPV), CCEP’s…
Tata Steel and technology firm ABB have signed a Memorandum of Understanding (MoU) to co-develop technology to reduce carbon emissions in steel production. Tata Steel is a global steel company with an annual crude steel capacity of 35 million tons per annum. The company aims to reduce carbon emissions to less than two tons of…
Under its carbon management strategy, ADNOC announces its final investment decision (FID) to develop largest carbon capture projects in the Middle East and North Africa region. The company is an energy group which plans projects to make energy cleaner and invest in clean energy for sustainability. The company claims the project will be apt to…
The UK Space Agency is funding earth monitoring programmes to accelerate the UK EO (Earth Observation) technology. The funding of £15 million, by the UK Space Agency, will facilitate the research and experimental development of space-based instruments. The aim is to support a range of environmental services. These include – The funding will allow UK…
Magna submits the net-zero emissions targets for validation by the Science Based Targets Initiative (SBTi). It is the commonly accepted decarbonization target as per the Paris Climate Agreement.Magna plans to achieve its near-term Scope 1, 2 and 3 targets by 2030. Also, it targets to fulfill net-zero emissions by 2050. Swamy Kotagiri, Magna CEO, said,“Magna…
Occidental announced to enter into a definitive purchase agreement with Carbon Engineering.Occidental will acquire all the outstanding equity of Carbon Engineering Ltd. for a total cash consideration of approximately $1.1 billion. The said is to be delivered in three approximately equivalent annual payments. The transaction will close before the end of 2023.The transaction is subject…