Welcome to last week’s edition of the CBKNY’s Weekly News Highlights.
We bring you the latest updates, insights, and innovations in the world of climate technology. Here's what made headlines last week.
- Electricity demand is growing faster than ever. Can the grid keep up? February 20, 2025 - MIT Technology Review | Rising electricity demand from AI, EVs, and data centers is outpacing previous projections, raising concerns over grid capacity and energy supply stability. ?? Link
- Texas power system set new clean energy milestone as winds pick up February 20, 2025 - Reuters | Texas reached a new clean energy record as strong winds boosted renewable power generation, accelerating the state's transition to a greener grid. ?? Link
- South Korea plans two new large nuclear reactors, more renewables in energy mix February 21, 2025 - Reuters | South Korea announced plans to build two additional large nuclear reactors while increasing its renewable energy share to balance its energy strategy. ?? Link
- Repsol cuts green hydrogen target by as much as 63% February 20, 2025 - Reuters | Spanish energy giant Repsol significantly lowered its 2030 green hydrogen production target due to rising costs and market uncertainties. ?? Link
- Vema Hydrogen raises $13 million for solution to produce clean hydrogen at under $1/kg February 20, 2025 - ESG Today | Vema Hydrogen secured funding to develop ultra-low-cost clean hydrogen production technology, aiming to drive the hydrogen economy forward. ?? Link
- Mast Reforestation raises $25 million to avoid carbon emissions after wildfires February 20, 2025 - ESG Today | Mast Reforestation, using AI-driven restoration techniques, raised funds to accelerate reforestation efforts and mitigate carbon emissions after wildfires. ?? Link
- ICAO launches platform to connect aviation decarbonization projects with investors and financing February 20, 2025 - ESG Today | The International Civil Aviation Organization (ICAO) introduced a global platform to link aviation decarbonization initiatives with investment and financial support. ?? Link
- In rural India, a clean energy project is displacing families—again February 2025 - Cipher News | A large-scale renewable energy project in rural India is forcing local families to relocate, raising concerns over sustainability and social impact. ?? Link
- Climate tech ‘free store’ opens to support hurricane-hit North Carolina February 2025 - Canary Media | A new initiative provides free solar panels and energy storage equipment to communities affected by hurricanes, promoting climate resilience. ?? Link
- Chart: GOP districts to lose big if Trump halts clean energy factories February 2025 - Canary Media | A new analysis shows that Republican districts have benefited the most from clean energy manufacturing investments, which could be at risk if Trump halts funding. ?? Link
- Marketers: The key to unlocking circular economy competitive advantage February 2025 - Trellis | Marketing plays a crucial role in promoting sustainable consumer behavior, helping businesses enhance their brand value and profitability through the circular economy. ?? Link
- Industrial AI startup Augury secures $75M to optimize factory operations February 2025 - Tech Funding News | Augury, which uses AI to improve factory efficiency and predictive maintenance, raised $75 million to fuel its industrial innovation. ?? Link
- The real reason why oil and gas companies are bullish on carbon capture February 21, 2025 - TechCrunch | Despite promoting carbon capture for climate goals, oil and gas companies are primarily investing in it to extend fossil fuel production. ?? Link
- Valar Atomics comes out of stealth with $19M and a pilot reactor site February 20, 2025 - TechCrunch | Valar Atomics, a nuclear energy startup, emerged from stealth with $19 million in funding and a pilot reactor site, aiming to advance next-generation nuclear power. ?? Link
- Solar crushed 2024, but emissions were up as industry used more natural gas February 20, 2025 - TechCrunch | While solar energy set new records in 2024, emissions increased due to greater reliance on natural gas in manufacturing and energy production. ?? Link
- ElectronX is building a market for electricity trading February 19, 2025 - TechCrunch | ElectronX is developing a decentralized electricity trading platform, allowing users to buy and sell power more efficiently in real-time. ?? Link
- Amazon, Microsoft, and Exxon want to make scandal-plagued carbon markets more trustworthy February 18, 2025 - TechCrunch | Major corporations are pushing for reforms in carbon markets to improve transparency and credibility amid growing concerns over greenwashing. ?? Link
- Northvolt and Scania unveil EV battery with longer lifespan and faster charging February 20, 2025 - Sifted | Northvolt and Scania introduced a new EV battery with improved energy density and charging speed, aiming to boost commercial electric truck adoption. ?? Link
- BLM trims environmental review before oil and gas lease auctions February 20, 2025 - Inside Climate News | The Bureau of Land Management shortened environmental reviews for oil and gas leases, sparking criticism over potential environmental risks. ?? Link
- Climate and environmental justice programs frozen under Trump’s executive order February 16, 2025 - Inside Climate News | Federal funding for climate and environmental justice programs has been halted following a new executive order from former President Trump. ?? Link
- Survey highlights climate fund managers' challenges and target investment sectors February 21, 2025 - Climate Insider | A survey of climate fund managers reveals difficulties in deploying capital effectively, with a strong focus on renewable energy and carbon capture investments. ?? Link
- Green Climate Fund approves $686 million for 11 projects in 42 countries February 21, 2025 - Climate Insider | The Green Climate Fund approved a major funding package for climate resilience and mitigation projects across multiple countries. ?? Link
- Patrizia and Mitsui invest $250 million into green parking company Parkwise February 20, 2025 - Climate Insider | Patrizia and Mitsui invested in Parkwise, a startup focused on sustainable parking solutions that integrate EV charging and smart urban planning. ?? Link
- Last Energy enters nuclear site licensing in the United Kingdom February 19, 2025 - Climate Insider | Small modular reactor developer Last Energy has begun the regulatory process for nuclear site approval in the UK, moving closer to deployment. ?? Link
- HSBC scales back net-zero plans by 20 years: A climate setback or realistic strategy? February 2025 - Carbon Credits | HSBC delayed its net-zero commitments by two decades, raising concerns over whether the move reflects pragmatic adjustments or a weakening of climate goals. ?? Link
- Carbon credits surge to $16B, fueling 2024’s race for high-quality offsets February 2025 - Carbon Credits | The carbon credit market reached $16 billion in 2024, driven by rising demand for high-quality offsets and stricter corporate sustainability goals. ?? Link
