Weekly News Round Up 23/08

WEEKLY NEWS ROUND UP

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Welcome back to our Weekly News Round Up after a short summer break!?

Here are our top 5 news pieces for this week with key takeaways:

1. The global power of Big Agriculture’s lobbying

The global power of Big Agriculture’s lobbying (ft.com)

? Key takeaways:

• In March this year, vegetable grower Florent Sebban put down his spade and headed to Paris to join mass protests by #farmers. Consumers want higher-quality, more #environmentallyfriendly food, he says, but farmers are not earning enough to keep up.? “Farmers are at the centre of a potential transition, but you need to finance a stable income for them if you want them to change their practices,” adds Sebban ??
• In Brazil, where #agribusiness accounts for a quarter of GDP, the Instituto Pensar Agropecuária is “the most influential lobbying group”, according to Caio Pompeia, an anthropologist and researcher at the USP - Universidade de S?o Paulo . “It combines economic strength with clearly defined aims, a well-executed strategy and political intelligence,” he adds ??
• As a result of this reach, big agribusinesses and farmers have successfully secured exemptions from stringent #environmental regulations, won significant #subsidies and maintained favourable tax breaks. The sector argues these are necessary to safeguard farmers’ livelihoods as they try to feed more people with higher-quality #food at lower cost ??
• Food systems are responsible for between 21 and 37 per cent of greenhouse gas emissions depending on what is included, according to the Intergovernmental Panel on Climate Change. Over half of those #emissions come from animal #faming alone ??
• Food production also receives considerable state support. Governments around the world spend about $520bn a year on #agricultural subsidies, according to analysis from Business for Nature and Earth Track. In the EU, farming subsidies make up a third of the bloc’s total budget ??

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2. Dutch Government to hold $1bn hydrogen auction in October

Dutch Government to hold $1bn hydrogen auction in October | Policy (h2-view.com)

? Key takeaways:

• The Dutch Government is set to hold its €998m ($1.01bn) #greenhydrogen subsidy auction from October 15 through to the end of the month ??
• The auction was previously approved by the European Commission , agreeing to provide state aid for the Dutch hydrogen production scheme, which is expected to support the construction of at least 200MW of #electrolysis capacity ?
• H2 View understands that the maximum amount a single project could be granted is 50% of the budget, although applicants will be ranked on a euro-per-megawatt basis. Individual #projects will need to be at least 0.5MW in size to receive backing ??
• Successful bidders must prove #compliance with the EU criteria for the production of #renewable fuels of non-biological origin (RFNBOs), as laid out in the delegated acts of renewable hydrogen ??
• Speaking on the auction in July (2024), Margrethe Vestager , European Commission Executive Vice-President, said, “This €998m Dutch scheme will help scale up the production of renewable hydrogen in the Netherlands by providing support to electrolyser projects of all sizes, while ensuring that any potential competition distortion is kept to the minimum.” ??

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3. Green energy start-up secures ￡4.56m in funding round

Green energy start-up secures ￡4.56m in funding round - South West (thebusinessdesk.com)

? Key takeaways:

• Bath-based startup DRIFT Energy Ltd is set to make #greenenergy at sea using hi-tech sailing vessels after securing ￡4.65m in a funding round ??
• The funding, led by Octopus Ventures , one of the largest and most active venture capital #investors in the UK and Europe, with support from Blue Action Accelerator, will enable the company to scale and realise its ambition to start #vessel production next year ??
• DRIFT Energy is driving the transition to #cleanenergy worldwide by deploying a fleet of high-performance sailing vessels that harness #deepocean wind to produce green hydrogen at sea and deliver it globally ??
• The growing #demand for clean hydrogen to accelerate the decarbonisation of sectors such as heavy industry, transportation and manufacturing is sparking #innovation in the sector ??
• Mat Munro , investor at Octopus Ventures, said: “We’re incredibly excited about DRIFT and the team’s potential to lead the way in developing a truly innovative source of renewable energy. At Octopus Ventures, we’re backing the companies building a #sustainable planet, and DRIFT’s ambitions are exactly what we’re looking for. We can’t wait for the day its first vessel sets out on its maiden voyage.” ?
• DRIFT Energy has also recently been awarded #funding from Innovate UK ??

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4. Firms eye hydrogen-powered helicopter development for organ delivery

Firms eye hydrogen-powered helicopter development for organ delivery | Mobility | H2 View (h2-view.com)

?? Key takeaways:

• Unither Bioelectronics (UB) and Robinson Helicopter Company have agreed to develop hydrogen-powered #helicopters to transport #organs for #transplants ?
• Canadian firm UB is expected to support the US-based Robinson in developing hydrogen-powered products based on its R44 and R66 models ??
• UB wants to redefine how organs are transported via the United Therapeutics Organ Delivery Systems (UTODS). The company’s Head of the UTODS development programme, Mikael Cardinal, said, “This collaboration accelerates the development of sustainable transportation solutions for life-saving organs.” ??

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5. Air Products acquires hydrogen assets at Uzbekistan refinery for $140m

Air Products acquires hydrogen assets at Uzbekistan refinery for $140m | Power (h2-view.com)

? Key takeaways:

• 空气化工产品公司 will acquire Saneg’s hydrogen production #assets at the Fergana Oil Refinery in Uzbekistan for a reported $140m ??
• In 2021, Air Products won a contract to supply two pressure swing adsorption (PSA) units for #hydrogen production at the Fergana Oil Refinery. The site is currently undergoing modernisation efforts to enhance its production capacity ??
• This will include the introduction of #hydrocracking processing and expansion of the fuel processing depth to over 92%. Air Products’ renovation and #acquisition of the hydrogen production units represent an important component of the modernisation initiative ??
• As part of the deal, Air Products will be responsible for two large-scale air separation units, two large-scale auto-thermal reforming units and a hydrogen production unit within the Uzbekistan facility. H2 View understands that the deal is expected to close in the fourth quarter of 2024 ??
• “The agreement will contribute towards one of the Uzbekistan government’s main priorities, strengthening our nation’s energy security by increasing domestic supplies of hydrogen,” explained Bakhtiyor Fazilov, Founder of Saneg ??
• Seifi Ghasemi, the President and CEO of Air Products claimed the #acquisition will “aid Uzbekistan in achieving more #sustainable and energy-independent operations, contributing to a cleaner future for the Republic.” ??

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