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Energy

A Bill Gates-backed electric vehicle battery developer is the latest firm to publicize its acquisition

An electric vehicle battery developer financed by Bill Gates and Volkswagen is the latest firm to reveal its intention of undergoing amalgamation through an explicit peculiar acquisition process. QuantumScape, which manufactures vehicle batteries, explained to the public that it would be joining hands with Kensington Capital Acquisition Corp. To become a company in which the public can subscribe to its shares. This move by QuantumScape precedes a similar dive by Nikola’s IPO, which is also an electric vehicle firm.

The shares of Kensington were operating at a high of $15. The acquisition of QuantumScape, which will be operating with the acronym QS on the stock market, will start its bid at $3.3 billion. QuantumScape is anticipating more support fro. Volkswagen and Qatar’s wealth fund as agreed in the acquisition deal.

Initially, QuantumScape was partnering with Volkswagen to produce substantial solid-state batteries for this automotive company. Speculations have it that this battery will be a revolutionary factor in advancing the electric vehicles industry. The battery’s advantage is that it charges in a short period, and its considerable density allows the car to cover a longer mileage than that covered by Li-ion batteries.

Nevertheless, the disadvantage is that the batteries require a coat of manufacturing. The chief executive of QuantumScape, Jagdeep Singh, was optimistic that the batteries could charge quickly, and their mileage range is twice that of the conventional batteries with the same size.

Jagdeep stated that this is the right moment to unveil the battery to the world. He added that the current funding expectations would push the firm through to the manufacturing and establishing a factory. The chief head of Kensington, Justin Mirro, reiterates that the firm’s peculiar battery technology and its progressive efforts catalyzed their move to acquire the company.

Mirro says that they have been researching the technology that will increase their firm’s profitability, and when QuantumScape came out, they grabbed it in time. He adds that QuantumScape is the best performing firm in his team’s analysis that they gladly chose to acquire.

Mirro is an experienced automotive engineer who worked with Toyota Motors and General Motors before resorting to being a banker and forming Kensington Capital Partners. His firm has been in the car banking industry for over three decades. To sum up, Jagdeep Singh stated that Kensington’s familiarity with the automotive industry dynamics catalyzed its agreement to this deal. Nevertheless, he said that QuantumScape would continue to contract with its other partners to continue expanding.

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Energy

The recent partnership between ReNew Power and UNEP to provide access to clean and resourceful energy.  

ReNew Power (India’s renowned renewable energy firm) and the UN Environmental Program (UNEP) signed the Memorandum of Understanding (MoU) deal that will help promote access to renewable energy and efficient energy supply. The well-built affiliation between the two organizations will enhance access to renewable energy and improve the provision of efficient fuel as one of India’s development strategies. Such strategies were adopted to become conscious of the Nationally Determined Contributions (NDC) as part of the Paris Agreement. 

The ReNew Power will link with the UNEP’s District Energy in Cities Initiative to implement energy installations in India. The reason behind the execution is to shift the heat regulation department to a more energy-efficient one. Also, the implementation will tackle solar off-grid projects, education, and assessment sectors. Yearly occasions will help promote those joint efforts where contributions will be showcased to India’s strategies. 

Renewable sources entail 23.6% of the sum installed volume in India. India had planned to attain a target of 175GW of renewable energy by 2022. During the UN Climate Action Summit last year, India’s Prime Minister stated that the country would achieve a target of 450GW by 2022.

Vaishali Nigam Sinha, Chief Sustainability Officer of ReNew Power, states that the company has always got that potential to surpass its venture and make partnerships with various shareholders in several Indian communities. He added that the period ReNew Power has associated with UNEP, the company plans to handle some issues that will enhance the socio-economic sector’s progress.  

ReNew Power is a renowned leader in the renewable energy market, and it has showcased clean energy in enhancing ample ventures. The head of UNEP, Atul Bagai, showed his gratitude to ReNew Power after working together to implement some agendas on the 2030 Sustainable Development Agenda.  

About the UN Environmental Program

UNEP acts as an international environmental voice. Its leaders support affiliations that will enable taking care of our environment through education, inspiration, and improving life to a quality one for the future generation. UNEP partners with authorities, non-governmental sectors, and other UN firms worldwide to enhance environmental protection. 

About ReNew

The primary functions performed by the ReNew Company are developing, possessing, and operating utility-scale wind together with solar energy schemes. It has a remarkable record of progress noted in organic and inorganic sectors where its operational capacity doubled from FY 2015 to 2018. 

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Energy

The possibility of the three European oil companies turning into renewable energy businesses 

With the transition to clean energy on the rise, the effort that the oil and gas companies are putting in in the smooth switch to renewables is worth noting. Three giant oil firms realign themselves to remain relevant in the energy industry by venturing into the renewable energy programs.

The quantity of renewable energy generated has been growing extensively, with now a capacity exceeding 1500 GW. The International Energy Agency (IEA) anticipates the addition of about 1200 GW of renewable energy worldwide by the end of 2024. This anticipation is in line with the expanding offshore wind energy projects and other solar power programs.

In this transition to renewables, the strategic propeller is the development of objectives and goals by companies that champion for long-term energy systems that are renewable. European countries are fighting hard to adjust their energy sector to transit to renewables. These countries’ effort is visible in the growing focus by their three energy giants to change operations from oil to renewables. These three giants are BP, Shell, and Equinor.

Shell is altering its operations by entering agreements with companies that generate electricity from renewable energy and the energy’s subsequent storage. Shell revealed that it is implementing the net-zero emission regulation by pushing its branches to produce goods and offer services that rely more on renewable energy than oil. In the meantime, the company has a total energy potential of 6.83 GW in renewables, which it will supply to its customers.

Elsewhere, BP is downsizing its oil energy projects as it embarks on expanding the renewable energy portfolio. The company is hopeful that it can dominate the renewable energy industry once it attains maximum potential in this venture. The company estimates to produce about 50 GW of renewable energy from its solar, wind, hydrogen, and biomolecular facilities by 2030. The firm has 12 GW potential of energy from its Lightsource BP project. Additionally, the firm is preparing to downsize its dependence on oil-oriented projects for profits by half. The firm intends to achieve net-zero carbon emissions in the coming three decades aggressively.

Norway’s leading energy supplier, Equinor ASA, is also in the race to shift focus from oil and gas and adopt the eco-friendly renewables. This country obtains close to 100% of its renewable electricity from hydropower. For this reason, Equinor and other energy providers are restraining from the country’s oil and gas reserves by pursuing hydropower, wind, and solar energy. Equinor boasts about 0.5 GW in renewable potential but stated that this quantity would grow to 16 GW in the next fifteen years.

All these three energy pioneers face the same challenge of low-profit margins in this coronavirus pandemic season. This challenge comes along with this year’s declaration of transforming to clean energy companies. To sum up, Shell is still expressing neutrality in its pursuit of other energy alternatives. BP and Equinor are likely to transition completely into renewable energy firms looking at their vast investment in renewable energy projects. Although all three companies are experiencing low gas and oil prices, they must realign themselves to tap into the growing clean energy initiatives to recuperate and regain profits. 

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Energy

The insufficiency of charging infrastructure could pose a threat to the EV firms in Europe with Tesla’s exemption.

Insufficient car charging infrastructure could impede the uptake of electric vehicles in Europe and the mileage range anxieties. Europe has witnessed the development of a mix of different charging stations, making it difficult for the variety of EV designs to enjoy these facilities unless they are Tesla cars. Tesla is an exemption because it has its systems based on various strategic points.

The cheap electric cars are affordable because their prices range at $40000 and not because of easy access to charging facilities. Additionally, these vehicles are suitable for urban roads and not the degenerate rural roads. The plausible way to ascend these uneven roads is reducing the speed, and at the same time, people are anxious about the mileage range when they must maintain the 70mph speed on highways. It is easy to approximate the refill point for an ICE car, but for EVs, you are uncertain of the recharging station since most of these facilities are not widespread.

The other upcoming challenge is the expectation that you subscribe to the firm’s services offering the charging facility before you can use it. Contrary to diesel engine cars, the EVs come with this undoing for its customers, rendering them unreliable. An EV owner who is yet to subscribe to the firm offering charging facilities will have to go through a long procedural service before enjoying the recharging service. The EV developers and the stakeholders in this sector must develop a mechanism that will negate this quagmire.

Many EV owners are complaining that despite subscribing to the service on mobile phones, they had to wait for authentication by the charging facility if it has these customers’ details before recharging his or her car. Therefore, most EV fanatics opt for Tesla, whose network of recharging facilities is widespread to meet their customers’ needs. Buying an electric vehicle from the other EV producers is a huge gamble that customers all over Europe are afraid to take.

Edmund King, the leader of AA, states that charging stations must think of a way to simplify the accessibility of their services, especially now that there is a growing demand for electric vehicles. King added that the British federal government is mounting pressure on charging companies to develop an all-round solution to this EV charging authentication problem. Finally, the chief of operations of the Center of Automotive Management (CAM), a German firm, Prof. Stefan Bratzel, reiterates that this challenge runs through Europe. Bratzel added that the European customers are complaining of unfavorable prices.

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Energy

Could the shortage of Lithium scupper increase of the electric car sales? 

Elected officials have declared that Europeans must adopt electric cars, and ensure that they are trying to strengthen early withdrawal of Internal Combustion Engine (ICE) powered cars. However, a fundamental battery component shortage, lithium could scupper that idea and force car manufacturers to get back to the drawing board.

Professionals say present lithium supplies are sufficient for the current electric car world market share of around 2.6 percent and perhaps will maintain pace with the anticipated augmentation towards 14 percent in Europe before the year 2025, however, after the demand will outdo supply and probably halt the forecasted powerful boost in electric vehicle sales. 

Some activists, politicians, and enthusiasts’ experts anticipate the sales of battery electric vehicles (BEV) to come close to 50 percent of the world market before the year 2030; however, lithium supplies are unlikely to achieve the needed battery demand.  

The European Union (EU) has come up with a policy insisting that car producers raise standard fuel effectiveness on modern cars from around 57 miles per gallon in the United States in 2020/2021 to up to 92 mpg before the year 2030. It would need a massive BEV’s majority unless the European Union gets persuaded to reduce the necessities, which several people say will damage the European auto industry.

It asks questions about the law of automotive producers, which have been relentlessly looking to match ICE cars’ range and power. It means that the enormous battery usage that calls into issue one of the main reasons for electric vehicles, which is their clean, electrifying quality. As electrical car demand increases, the cost of several primary materials used in making the batteries such as copper, cobalt, lithium, and nickel might be questioning the entire design direction.

It could make much sense while trying a different tack and manufacture a no-frills electric car having smaller batteries, just efficient for home shopping and commuting. An overvalued golf-cart really could rate a fraction of the cost of a regular ICE car, for instance, $6,000 compared with the present value in Europe for a little electric sedan of around $40,000. It would contain the by-product of forcing elected officials to acknowledge ICE-powered vehicles will be available for many years.  

However, according to statistics provider IHS Markit, the supply of lithium could be somewhat simple because though elected officials grandstand regarding how they plan on creating a zero-carbon world and get rid of the ICE cars. 

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Energy

Tesla Model 3 Convinces Hyundai to step up switch to electric cars

According to a report released by Reuters, South Korean firm wants to introduce two production lines devoted to the production of electric cars whereby one will be launched in 2021, and the other one in 2024. 

In May, Euisun Chung, Chief of Hyundai Motor Group, carried out several meetings with his corresponding associates at Samsung, SK Group, LG, Manufacturers of electronic parts, and batteries. The meeting’s theme was to ensure KIA and Hyundai have plenty of supply of batteries and other electronic items as they head towards the manufacture of automated vehicles. On June 14, Chung asserted that Hyundai Motor Group plans to vend 1 million electric cars in the next five years.  

A leading Hyundai insider whose identity remains undisclosed alleged that the firm had no intention of considering Tesla during the period when Silicon Valley firm started manufacturing high-end vehicles. Instead, the firm was more worried when Tesla launched an affordable Model 3 Motor three years ago. The steps taken by Tesla were ‘deliberate success.’

The recent sales made in South Korea have posed more worries, especially for Hyundai directors. In June, Tesla Model 3 vehicles were the most sold as compared to Hyundai Kona Electric. Consumers chose to purchase locally produced cars, making the number of Tesla Model 3 sales to rise. That was the opposite of what the country had expected since Hyundai did not imagine Tesla to take over electric motors market that fast. 

The remaining problem to be solved here is to persuade the organization, whose workforces manufacture KIA and Hyundai vehicles, to support the plan. That will pave the way for Hyundai to shift to building electric cars. To a shock, union administrators are more worried about keeping their associates’ occupations since several parts used to make EVs are bought from exterior suppliers.

The organization urged the firm to incorporate fundamental components to be used for making the electric vehicles such as battery packs internally to help preserve the jobs of its members. Kodak went penniless because it is glued to film during the period when the business was transitioning to digital photography. 

In 2010, Hyundai entered the game when it manufactured 230 electric vehicles for the nation. Later on, those vehicles were stored at an examination facility outside Seoul because they did not have charging infrastructures. Hyundai then started to use hydrogen fuel battery flyers to charge their cars. That fuel battery took many years for those entities to develop it. 

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Energy

The dream of Diageo’s carbon-neutral whiskey distillery fueled by electric boilers

Everything is going electric, including whiskey. Distilleries have, for a long time, been complex operations to electrify because of the enormous heat loads it needs to twist grain into one of humankind’s oldest virtues, alcohol, however, the recent72,000 square feet distillery of Diageo is made to be carbon-free. It is supposed to avoid an additional 117,000 metric tons of yearly carbon discharges by transmitting, according to Diageo, to recyclable electricity compared to managing using the customary natural gas facility.

Andrew Jarrick, the environmental sustainability manager of North America at Diageo, stated that it is a chance to erect a new distillery from scratch and added that it is a rare opportunity.  

According to the company, the Kentucky facility will mainly generate Bullet Whiskey and is going to be among the biggest carbon-free distilleries from North America. The facility is still under the making, with its finishing scheduled to come around mid-2021. Ultimately, it will generate 10 million confirmation whiskey gallons and hire over 30 full-time staff to work as brewers.

The distillation process has three vast heat necessities: firstly, to boil the grain into a pound, then as a vapor to get the ethanol in the column of distillation and eventually for parching the extra grain for substitute usage.

Drifting away from fossil energy for the heat generation was the initial milestone and the first massive obstruction for Diageo.

Jarrick confirmed that the distillery business is constructed on very customary ways of judgment and depends heavily on methodologies based on time. He added that the prevalent challenge was to preserve the process of honesty to generate a similar liquid. However, it also shifts from conventional fossil fuels.  

Instead of customary tools, the facility will use 22-foot tall voltage jet battery boilers from Precision Boilers. Gabriel Dauphin, who is the sales and marketing vice president at Precision Boilers, confirmed to GreenBiz through an email that boilers use resistive and conductive properties to take electric current and produce steam. Apart from not just making use of fossil fuels and low-carbon emissions, electric boilers need less maintenance.  

Dauphin wrote that contrasting fossil gas boilers, which have a definite minimum power output before switching off, the electric boilers could be reduced to any level before switching off totally, and they could get to the needed heat height almost instantly. 

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Energy

Microsoft attains a historic landmark in using hydrogen fuel to generate renewable energy

After thorough research, Microsoft is ready to share its success in developing hydrogen fuel cells that can run its data center servers for two straight days. The company is excited about this historic breakthrough that has the capability of minimizing dependence on diesel and petrol-powered generators. 

The batteries integrate hydrogen and oxygen in a procedure that generates electricity and water vapor. Microsoft verified the versatility of this concept in its operational facility at Salt Lake City in Utah. Microsoft is explicitly venturing in hydrogen energy technology as its strategy to reach the net-zero carbon emissions and phase out the reliance on diesel and petrol fuel before the end of the coming decade.

Nonetheless, Microsoft still relies on diesel generators as the backup electricity source for its data facilities. This hitch is a rarity, and the company, therefore, utilizes this backup when its supplier grid is down. Microsoft is also exploring other advantageous uses of hydrogen fuel cells in the coming years. The firm visualizes a future where hydrogen will be the primary source of electricity for industrial facilities and heavy commercial vehicles.

One of the general managers of the Microsoft data center, Brian Janous, retorts that they are working towards creating a system where the data center’s assets are expressable into the grid in a broader scope. They hope that the data center can be fully operable with hydrogen cell energy without relying on fossil fuel-powered generators. This move will empower other firms to venture into this type of technology.

Microsoft reveals that the projected costs of developing hydrogen fuel cells have plummeted to 75% from 2018. If the value of manufacturing these batteries reduces further, the company anticipates that competition with diesel and petrol generators will still be. If this move coupled with economies of scale, then the hydrogen fuel cells will phase out the conventional generators.

At the beginning of this month, Microsoft company said that it would be launching a long-term initiative, which will be the company’s massive renewable energy venture since its formation. This year, Microsoft vowed that they would support the fight against carbon emissions and possibly achieve this goal by 2030. The tech company hopes to rid the atmosphere of a substantial amount of emissions compared to what they released before the end of the coming three decades.

In conclusion, climate change proponents articulate that this strategy by Microsoft will force the firm to cut ties with their oil and gas partners. Cloud service providers like Microsoft and Amazon are at crossroads between designing equipment for energy companies to obtain and mine fossil fuels.

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Energy

USA Rare Earth Company Issues a 100% Renewable Power Program

The USA Rare Earth has committed itself to producing clean green energy operations in West Texas. West Texas is known to be among the best places for the production of solar power. The area records 292 days of sunshine annually with an average of 10 hours of sun a day. Its flatlands in the North West Round Top Mountain are at an elevation of 4000 feet.  With this, the US Rare Earth will require an estimate of 15 MW for supporting mining and processing. It also estimates that it will require a solar farm approximately 45 acres for the plan to work effectively.

The company can increase production if it relocates its sintered neo magnet manufacturing facility to the Round Top Mountain site. The area is large enough as it covers 60,000 acres of land. 60% of the materials produced in Round Top use green-tech applications and clean-tech. This renewable energy plan is essential because its production will be of clean, green, renewable applications. However, the process will also employ clean green, renewable sources of power. The plan will make the use of a net provider of clean energy globally.

China’s industrial democracies have been selling electrical devices, including cars, laptops, and mobile phones, claiming that they are clean and green. However, this is not the case as most of the materials for manufacturing these devices result in pollution, hence harming the lives of the entire population. The industries that produce these electrical devices have caused health problems for workers and inhabitants nearby.

The USA Rare Earth plan has vowed to end this hypocrisy from other multinational corporations. It aims to produce clean, green materials with a clean, green process that will cause no pollution to the environment. The plan will contribute to saving the world’s population in a significant way. The invention of the Round Top project is not only protecting the national security and industrial chain. It’s about the United States leading the way to clean materials for a safe environment.

Extracts from the round top deposits will be separated using an environmentally friendly efficient process .it is using the latest technology to recycle the electronic scrap and process waste to produce neo magnets from Round Top. Moreover, the USARE is planning to establish a mine for lithium in Round Top, similar to the battery approach. Therefore the Round Top will need storage of energy and trading for the renewable energy source. Also, the supply of the excess energy is necessary to the grid balance because of drawing power at night and in periods with low rates of irradiance.