Alternating Current: November 24, 2023
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Primrock Strengthens Governance Structure?
Primrock has strengthened its governance structure with an extended board of directors 2023/24. The board has a majority of independent directors with a wide range of expertise and experience. The board will exercise oversight as well as strategic guidance of importance for Primrock’s continued investments, financing and growth. The founder Mattias Ganslandt and co-founder Gustav Bergquist are joined on the board by Rikard Azelius, Pontus Braunerhjelm, Magnus H?gstr?m, Henrik Norlin, Ulla Sandborgh and Anna Vidlund.
For a brief presentation of the members of the board, see: https://www.dhirubhai.net/feed/update/urn:li:activity:7133733542349451264??
EI: 63% of Voltage Issues from Grid Company Networks?
The Energy Market Inspectorate (Ei) conducted a review of 35 Swedish electricity grid companies in 2023, assessing their compliance with voltage quality requirements. Of the companies inspected, 27 received customer complaints about voltage quality, but most issues fell within standards set by Ei. Around 63% of the problems were attributed to the electricity network companies' networks, while the rest were linked to customer facilities or third parties. The inspection emphasized the importance, given technological advancements and increased electric demand, for companies to maintain good voltage quality. Ei continues supervision to ensure compliance across diverse networks supplying electricity to about half of Sweden's customers.?
Source: https://ei.se/om-oss/nyheter/2023/2023-11-23-ei-har-granskat-spanningskvaliteten-i-elnaten-for-2023?
EU Act to Boost Net-Zero Manufacturing Capacity?
The European Union (EU) has launched the Net-Zero Industry Act, announcing a €4 billion grant funding opportunity for clean energy projects, including energy storage. Financed by the Innovation Fund, derived from the Emissions Trading System, the grants are categorized into general decarbonization projects (€2.4 billion), cleantech manufacturing projects (€1.4 billion), and pilot projects focused on deep decarbonization (€200 million). The Innovation Fund can cover up to 60% of project costs, with application deadlines set for April 9, 2024. Additionally, a separate €800 million auction aims to scale up renewable hydrogen production, with a deadline in early February. The Net-Zero Industry Act targets achieving or surpassing 40% of the EU's annual deployment needs in strategic net-zero technologies manufacturing capacity by 2030.?
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US Domestic Battery Tech Receives $3.5B Surge?
The Biden-Harris Administration, through the U.S. Department of Energy (DOE) , is allocating up to $3.5 billion from the Bipartisan Infrastructure Law to enhance domestic battery manufacturing. This funding, part of the Investing in America agenda, aims to establish and expand facilities for battery-grade processed critical minerals, precursor materials, components, and cell and pack manufacturing. Prioritizing clean energy industries, the investment supports the transition to a net-zero emissions economy by 2050, with a focus on creating union jobs and building a resilient domestic supply chain. The initiative also addresses national security concerns by reducing reliance on foreign entities. This marks the second phase of the US $6 billion package from Bipartisan Infrastructure Law. This law, along with the Inflation Reduction Act (IRA) has been heavily criticized by the EU on claims of it being protectionist and triggering a ‘subsidies race’.?
Primrock Weekly Balance Report Nov 24, 2023?
Copyright: Primrock (2023) |?www.primrock.eu?
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