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By Akshat Rathi and Sommer Saadi “We are coming out of a phase of extreme growth,” co-founder Jan Wurzbacher said on the Zero podcast, as the startup focuses on cost cutting amid unfavorable market conditions. Scientists are clear that meeting climate goals means ending carbon pollution and drawing down excess CO2 from the air. That’s …
Carbon Removal Pioneer Climeworks Tackles Its First Major Layoff Read More »
While production is set to stop by the end of next month, efforts to identify a purchaser for the plant remain ongoing Northvolt AB will stop making cells at its last remaining factory in northern Sweden at the end of June, marking the demise of what was once Europe’s best hope of a homegrown battery …
Northvolt to Stop Production in June With No Buyers in Sight Read More »
U.S. crude oil storage demand has surged in recent weeks to levels similar to the COVID-19 pandemic, according to data from storage broker The Tank Tiger, as traders brace for a flood of increased supply in coming months from the Organization of the Petroleum Exporting Countries and its allies. This month, OPEC+ agreed to accelerate …
US Crude Oil Storage Demand Surges as Traders Brace for OPEC+ Price War Read More »
Wastewater disposal in the Permian Basin is boosting pressure underground, threatening to hinder oil production By Kevin Crowley and David Wethe Produced water gushes out of the ground a geyser in Toyah, Texas, on Wednesday, Oct. 2, 2024 in Toyah, Texas. Photographer: Elizabeth Conley/Houston Chronicle/ Getty Images Texas regulators are warning that wastewater from fracking …
The Biggest US Oil Field Is at Risk of Poisonous Water Leaks, Texas Warns Read More »
By Akshat Rathi and Coco Liu Founded in 2009, Climeworks constructed a pilot plant in Iceland in 2021 followed by a larger version that began operations in 2024 and is still being built out. Photographer: Heida Helgadottir/Bloomberg Climeworks AG is laying off 106 people, as startups that aim to reverse global warming face a reckoning …
Climeworks Is Cutting 22% of Staff as US Climate Backlash Hits Carbon Removal Read More »
By Laila Kearney Blackstone’s data center plans may affect TXNM acquisition approval TXNM’s sale agreement follows rising electricity demand from AI data centers New Energy Economy to scrutinize Blackstone’s handling of data centers NEW YORK, May 21 (Reuters) – Blackstone Infrastructure’s (BX.N) plans for data centers in New Mexico will be a deciding factor in …
Group That Blocked New Mexico Utility Merger Eyes Data Centers in Blackstone Deal Read More »
By Georgina Mccartney and Nicole Jao HOUSTON, May 21 (Reuters) – U.S. crude and fuel inventories posted surprise stock builds last week, the Energy Information Administration said on Wednesday, as crude imports hit a six-week high and gasoline, distillate demand slipped. Crude inventories rose by 1.3 million barrels to 443.2 million barrels in the week …
US Crude, Fuel Stocks Up as Crude Imports Rise, Product Demand Slips, EIA Says Read More »
By Svea Herbst-Bayliss and David French Phillips shareholders elect two of activist investor’s nominees Oil refiner also sees two of its nominated directors elected Analysts say vote means some change but no big mandate for transformation Elliott had never had a US based proxy fight go to a vote NEW YORK, May 21 (Reuters) – …
Elliott Wins Two Seats, Phillips 66 Retains Two Seats in Hotly Contested Board Fight Read More »
By Shirin Ghaffary, Brody Ford, and Emily Chang OpenAI, Oracle and SoftBank hope that the site in Texas is the first of many across the US. The future home of the first Stargate site in Abilene, Texas. Photographer: Bobby Scheidemann for Bloomberg Businessweek Trucks carrying concrete and electrical wiring plod over red clay, weaving in …
Summary Cheap LFP batteries drive rapid energy storage growth Storage demand for grid transitions expanding exponentially Trend likely to accelerate pivot away from nickel and cobalt (Reuters) – When Fidra Energy acquired a 55-acre (22-hectare) patch of northern England countryside in 2023, its plan to transform it into a 1.45 gigawatt energy storage facility – …
Energy Storage Boom Drives Battery Shift, Leaving Nickel, Cobalt Behind Read More »
