News

Orsted outlines plans for $30 billion investment in green energy

Danish energy firm Orsted has unveiled an "extensive investment program" that will see it invest around 200 billion Danish krone ($30.26 billion) in green energy between 2019 and 2025.

Breaking the figures down, Orsted said that investments in offshore wind farms were expected to make up 75 to 85 percent of the program, with onshore investments accounting for 15 to 20 percent. Bioenergy and customer solutions were expected to represent 0 to 5 percent of the spending.

"Today, our portfolio consists of 11.9 GW (gigawatts) of offshore and onshore wind farms and biomass-fired combined heat and power plants that are either in production, under construction or have been given final investment decision," Henrik Poulsen, Orsted's CEO and president.

"Towards 2030, it's our strategic ambition to reach an installed capacity of more than 30GW, provided that the build-out creates value for our shareholders," Poulsen added. 

Orsted is a world leader in offshore wind. In September, ...

Nov. 28, 2018


France’s schneider electric inaugurates $565 mln vc funding unit

French energy management and automation solutions provider Schneider Electric has inaugurated its own dedicated venture capital (VC) funding unit, Schneider Electric Ventures.

Schneider Electric said the dedicated VC funding unit will boost its innovation ecosystem and nurture the future’s transformational and disruptive innovations.

The unit will have up to 500 million euros ($565 million) of cash to inject in incubation projects, partnerships with entrepreneurs, and specialized funds, and would welcome ideas from innovators and entrepreneurs eager to turn their concepts into reality.

The company said that Schneider Electric Ventures is its way of helping innovators turn their vision into reality. It demonstrates the company’s commitment to innovation, helping innovators and entrepreneurs who share Schneider’s values develop their ideas and gain access to markets.

/Source: InvestSize/

Nov. 14, 2018


View Announces $1.1 Billion Investment from the SoftBank Vision Fund to Meet Accelerating Demand

View, the leader in dynamic glass, today announced a $1.1 billion investment from the SoftBank Vision Fund. Demand for View’s intelligent windows is rapidly growing as companies increasingly recognize the benefits of modernizing their work environments to improve the health and productivity of their employees.

View makes the entire skin of buildings intelligent for the first time. This improves human health and wellness by preserving unobstructed views, automatically letting in the optimum amount of natural light, and greatly reducing heat and glare. It also cuts the building energy consumption by up to 20 percent.

View Dynamic Glass is installed in 35 million square feet of buildings and is growing rapidly. There is compelling evidence that View helps improve the health and wellness of occupants. Harvard Business Review published a study identifying natural light as the #1 desired office perk. Another recent study found significant health benefits associated with View Dynamic Glass over ...

Nov. 2, 2018


Lab-grown meat could be in restaurants by 2021

A Dutch company that presented the world's first lab-grown beef burger five years ago has received funding to pursue its plans to make and sell artificially grown meat to restaurants from 2021. Mosa Meat said it raised 7.5 million euros ($8.8 million), mainly from M Ventures and Bell Food Group. M Ventures is an investment vehicle for German pharmaceuticals company Merck KGaA. Bell Food is a European meat processing company based in Switzerland.

Smaller investors include Glass Wall Syndicate, which supports several companies looking into cultured meat or meat substitute products aimed at consumers concerned about the environmental and ethical impact of raising and slaughtering animals.

Maastricht-based Mosa Meat, which has in the past also received 1 million euros from Google co-founder Sergey Brin, said it hopes to sell its first products -- most likely ground beef for burgers -- in 2021. The aim is to achieve industrial-scale production 2-3 years later, ...

Oct. 25, 2018


Dutch battery company to build 1.6 billion euro plant in China

Lithium Werks BV, a startup founded by Dutch entrepreneur Kees Koolen, said on Tuesday it had signed a 1.6 billion euro ($1.85 billion) deal to build a new storage battery plant in China.

Koolen told Reuters the agreement included project financing of 15-30 percent by Chinese or regional financing sources, 50 percent from development banks, and the remainder by Lithium Werks and its equity investors.

The factory will be able to produce batteries with 500 GWh storage capacity per year by 2030.

"There's a big appetite from investors for such projects and such companies, so we have a lot of people interested to make sure we have enough equity," Koolen said in a telephone interview.

The agreement is one of several commercial deals announced as Dutch Prime Minister Mark Rutte and Chinese Premier Li Keqiang met on Tuesday in the Hague. 

Koolen has invested 41 million euros into Lithium Werks and currently holds a 50 ...

Oct. 17, 2018


Bioenergy set to grow fast in next five years

About 40% of the global energy consumption growth in the next five years will be met by renewables and it will account for almost one-third of the global electricity generation by 2023, the market forecast said. India, after China and the US, is the third largest growth market for solar PV capacity addition.

“Modern bioenergy’s “share in the world’s total renewables consumption is about 50% today, in other words as much as hydro, wind, solar and all other renewables combined,” said Fatih Birol, the IEA’s executive director. “We expect modern bioenergy will continue to lead the field, and has huge prospects for further growth. But right policies and rigorous sustainability regulations will be essential to meet its full potential,” he said.

Untapped potential of bioenergy in cement, sugar and ethanol industries is significant. Bioenergy growth in the industry, transport and electricity sectors combined could be as considerable as that of other renewables ...

Oct. 13, 2018


Honda Invests 2.75 Billion into GM's Cruise

General Motors Co. and Honda Motors Co. have teamed up to develop a new self-driving car. Honda will make a $750 million equity investment in GM Cruise LLC in a deal that values the GM unit at $14.6 billion plus spend $2 billion over 12 years toward deploying autonomous vehicles.

The partnership will advance the global scale of GM’s self driving car technology and accelerate the deployment of autonomous vehicles for Honda. The two companies will develop a self-driving model that will be deployed in a Cruise autonomous network. Cruise plans to launch an autonomous taxi network in 2019.

“With the backing of General Motors, SoftBank and now Honda, Cruise is deeply resourced to accomplish our mission to safely deploy autonomous technology across the globe,” Cruise Chief Executive Officer Kyle Vogt said in the statement.

/Source: Fleetbusiness.com/

Oct. 10, 2018


Saudi shelves $200 bln SoftBank Solar project

Saudi Arabia has shelved a $200 billion plan with SoftBank Group Corp to build the world's biggest solar-power-generation project, the Wall Street journal reported on Sunday, citing Saudi government officials.

No one is actively working on the project, and instead, the Saudi kingdom is working up a broader, more practical strategy to boost renewable energy, to be announced in late October, the WSJ reported.

SoftBank Chief Executive Masayoshi Son had announced in March a plan to invest in creating the world's biggest solar power project in Saudi Arabia, a project expected to have the capacity to produce up to 200 gigawatts (GW) by 2030.

/Source: Energy World/

Oct. 6, 2018


Renault is creating a “smart island” in France

Renault plans to develop a smart electric ecosystem for the French island of Belle-Île-en-Mer, turning it into France’s first “smart island”.

The automaker unveiled its new project in partnership with a number of energy companies, with its aim being the facilitation of energy transition on the French island.

The project will also involve a fleet of Renault Zoe and Kangoo vehicles running on a ride-sharing service.

These vehicles will be charged by EV chargers, which in turn will be powered by solar panels placed on the roofs of buildings.

Renault plans to implement these initial renewable energy measures and scale up its solution as it improves in the field, potentially granting it the knowledge to address mainland challenges with a similar approach.

/Source: Afrihost/

Oct. 2, 2018


EU wants to spend €1bn on supercomputers

The European Union is planning to spend one billion euros on supercomputers to help with research into creating artificial intelligence and fighting climate change.

Brussels officials said Europe was “lagging behind” on supercomputers, noting that none of the world’s top ten most powerful machines were in the EU.

The European Commission is proposing that the sum be allocated for the systems in the upcoming EU budget, with the aim of building two “world class” “pre-exascale” machines capable of 1,000,000,000,000,000,000 calculations per second, and another two mid-range machines in development.

/Source: Independent/

Sept. 26, 2018