IEBS News And Updates from Chemicals And Energy Industry in July 2022
Total Energies and ADNOC have expanded strategic alliance
TotalEnergies and Abu Dhabi National Oil Company (ADNOC) have signed a strategic partnership agreement to explore new opportunities for growth across the energy value chain. TotalEnergies will explore joint research, development, and deployment partnership opportunities in the areas of CO2 emission reductions and carbon capture, utilization, and storage sector.
All major energy developers are working towards the sustainability goal to decrease greenhouse gas emissions intensity by 55% by 2030 and further research toward decarbonization will boost the climate target plan and achieve net zero by 2050.
Equinor has acquired energy storage developer East Point Energy
Equinor has signed a deal to acquire U.S. battery storage firm East Point Energy to strengthen and diversify its renewable energy portfolio. With this acquisition, Equinor’s portfolio will cover offshore wind, upstream oil and gas, hydrogen, and CCS along with battery storage. While the world is focusing on a complete transition toward renewable energy, battery storage will definitely play a key role in stabilizing the grid when renewable energies are intermittent.
Panasonic has announced to build of a $4 billion EV battery plant in the USA for Tesla
The Japanese company, Panasonic, a primary battery manufacturer of Tesla, has announced an investment of $4 billion to build an electric vehicle battery factory in Kansas, USA, for the manufacturing of new high-capacity 4680 batteries for Tesla.
Batteries are emerging as a critical component in the transition to more sustainable mobility while considering electrifying the transportation sector and the competition is intensifying in the electric vehicle battery market. Since the commercialization of lithium-ion batteries in EV sector, a tremendous progress has been made to increase energy density, reduce cost, and improve performance. This new generation of high-capacity 4680 batteries comprises cylindrical lithium-ion cell in tables form factor, which further increases energy density and thermal characteristics, and improves the power-to-weight ratio while reducing the production cost by enhancing manufacturability.
Mainstream Renewable Power and Aker Offshore have agreed to merge to create global frontrunner in offshore wind
Mainstream Renewable Power and Aker Offshore Wind, a subsidiary of Aker Horizons, have entered an agreement to combine the two companies to create a stronger renewable company portfolio. The new company will create a 27 GW portfolio across solar, onshore wind, and bottom-fixed and floating offshore wind projects.
The floating wind market is projected to grow rapidly in the coming years, as several countries have launched ambitious targets to develop gigawatts of wind energy utilizing offshore wind resources to accelerate their net zero ambitions. This consolidation of Aker Horizons’ interest with Mainstream will benefit them to gain early market opportunity in floating and fixed offshore wind space to become a global renewable energy major.
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