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>>> US announces $3 billion in funding for new battery projects
The Verge
by Justine Calma
9-20-24
The US Department of Energy announced today plans to dole out more than $3 billion to over two dozen battery projects across 14 states. The money will go toward processing critical minerals, building batteries and their components, and recycling batteries. It’s part of the Biden administration’s push for more domestic manufacturing to support its climate goals.
Batteries are an increasingly hot commodity needed for electric vehicles and to store renewable energy from solar and wind projects. New battery facilities are cropping up all over the US thanks in part to federal support in the form of grants, loans, and tax incentives.
New battery facilities are cropping up all over the US
The funding comes from the Bipartisan Infrastructure Law passed in 2021. The 25 projects announced today have been selected for awards, but will still need to go through a negotiation process with the Department of Energy (DOE) and complete an environmental review to receive any money. The DOE predicts the funding will create 12,000 jobs, 8,000 of which would be in construction.
Two projects chosen to potentially receive the largest sums of money are meant to produce lithium from brine, each tentatively earmarked to receive up to $225 million in funding. A joint project between Standard Lithium and Equinor in Lewisville, Arkansas is expected to produce up to 45,000 metric tons per annum of battery-quality lithium carbonate over two decades.
The second project, led by TerraVolta Resources in the Texarkana region, is estimated to have the capacity to produce 25,000 metric tons of lithium carbonate equivalent each year once it’s operating. That’s enough lithium for some 500,000 EVs, according to the DOE project description.
This is the second round of funding in a program led by the DOE’s Office of Manufacturing and Energy Supply Chains (MESC). The first round of funding, announced in 2022, funneled $1.82 billion into 14 battery material and manufacturing projects.
China still leads global battery production with nearly 85 percent of the world’s capacity to produce battery cells. It also processes more of the critical minerals used in batteries than any other country. The Biden administration recently announced higher tariffs on batteries and battery parts from China, raising tariffs rates from 7.5 to 25 percent. And the administration structured the EV tax credit so that it only applies to vehicles with batteries manufactured in the US.
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Geothermal - >>> Tech companies are making an incredible investment in a surprising source of energy: 'Enormous potential'
The Cool
by Kristen Lawrence
9-18-24
https://www.msn.com/en-us/money/other/tech-companies-are-making-an-incredible-investment-in-a-surprising-source-of-energy-enormous-potential/ar-AA1qCejL?ocid=BingNewsSerp&cvid=006b22fe4f1b4738985f042a075e7f6d&ei=26
Meta and Google are digging deep to power their energy-hungry data centers, exploring new drilling techniques that will allow them to tap into vast amounts of geothermal power right beneath our feet.
As The New York Times reported, big tech companies are facing an energy crunch, as the AI boom is fueling skyrocketing demand for cheap, abundant electricity. While some tech giants have turned to wind and solar power to meet soaring energy needs, they can't generate electricity in certain weather conditions.
However, geothermal energy can essentially run 24/7 since heat from the Earth's core is always available, making it an ideal solution.
Meta is taking it one step further with a plan to harness up to 150 megawatts of heat energy — enough to power around 70,000 homes — using an innovative method to tap into this inexhaustible power source.
Per The Times, it has partnered with geothermal startup Sage Geosystems to harvest the heat to produce clean electricity, using fracking techniques similar to the oil and gas industries.
However, instead of extracting dirty, polluting fuels, Sage will be drilling for renewable thermal energy. As fractures are created deep below the Earth, water is pumped underground and heats up as it passes through small cracks. The hot water is then pumped back up to power turbines that produce pollution-free electricity.
According to a Sage press release, the project "would be the first use of next-generation geothermal power east of the Rocky Mountains" — although the company didn't disclose an exact location. Sage and Meta expect the first phase of the groundbreaking project to launch in 2027.
Google has also started tapping into geothermal power by teaming up with Fervo Energy, another geothermal startup, to construct Project Red — a 5 MW pilot project in northern Nevada helping to decarbonize Google's data centers.
Google recently announced it has expanded the partnership to bring an additional 115 MW of geothermal power to Nevada's grid, contributing to its goal of running its data centers and offices on 100% green energy by 2030.
While geothermal accounts for less than 1% of America's energy mix, that's expected to increase drastically as green technologies advance.
Iceland, which has capitalized on geothermal at a large scale for decades with its volcanic activity under large parts of the country, has continued to innovate in the area in recent years, but proximity to a volcano is not necessary to harness the Earth's power.
A Department of Energy report found that geothermal energy production could reach 90,000 gigawatts or more by 2050, unlocking plenty of cheap, clean energy for businesses and households.
"Geothermal has such enormous potential," Energy Secretary Jennifer Granholm said at an energy conference in March.
"We're going to need every tool in the arsenal," Michelle Solomon, a senior policy analyst at the nonprofit Energy Innovation, told The Times. "In the near term, enhanced geothermal might play a relatively small role, but I feel very optimistic about where the technology is going."
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>>> Microsoft goes nuclear to power AI data centers
Yahoo Finance
by Julie Hyman and Josh Lipton
September 20, 2024
https://finance.yahoo.com/video/microsoft-goes-nuclear-power-ai-204151380.html
Nuclear energy has been a hot topic in investors' minds after Microsoft (MSFT) and Constellation Energy (CEG) announced an agreement to restore a dormant nuclear power plant to power the tech company’s AI and cloud data centers.
Microsoft wants to restore the Three Mile Island nuclear power plant in Londonderry Township, Pennsylvania, known for one of the largest nuclear disasters in the US when one of the plant's two reactors melted down in 1979.
Radiant Energy Group founder and managing director Mark Nelson joins Josh Lipton and Julie Hyman to explain how nuclear energy could power the artificial intelligence era.
A nuclear engineer himself, Nelson explains that the plant’s other reactor “kept going for 40 years. The only reason it closed in 2019 is because fossil fuels were really cheap.”
He says there’s a renewed interest in nuclear energy today because “we're running out of other energy sources… we're running out of power, and we're realizing that if we're going to have everybody buy electric vehicles, we have to be able to charge it from power plants that run all the time.”
Nuclear power plants could help meet the energy-intensive needs of training and running AI, which has brought the utilities sector into focus. Nelson says building new nuclear plants and restoring existing ones could help.
“The very best American design for a nuclear plant is being built in China over and over again for about four years or so per reactor and about $3 billion. I don't think we're going to meet China's prices for building our reactors, but we could probably do a lot better building our reactors if we do it in series with the same design, the same plant layout, and we do it over and over," the expert tells Yahoo Finance.
“Fortunately, we've got designs that are licensed and ready to go today at existing nuclear plants that already serve tens of millions of customers. And those are the plants that are being approached by the data centers. So I think to get over this hump, we have to accept that we've got outstanding equipment ready to install. We've just forgotten how to do it and we need to do it the same way every time.”
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>>> The Clean Jet-Fuel Technology Winning Over Wall Street
Twelve's sustainable aviation fuel plant in Moses Lake, Wash., is expected to begin production next year.
The Wall Street Journal
by Amrith Ramkumar
September 19, 2024
https://finance.yahoo.com/news/clean-jet-fuel-technology-winning-122100846.html
Cutting emissions from aircraft is one of the toughest challenges in the energy transition. A small group of startups say they have an answer, and investors are racing to give them cash.
The latest is a company called Twelve, which raised $645 million from backers including the private-equity firm TPG and Alaska Airlines in one of the largest investments ever for clean jet fuel.
The investment values Twelve at more than $1 billion. It is one of several startups using a chemical process that mimics photosynthesis to produce jet fuel with far lower emissions than fossil fuels. They are raising significant amounts of cash in the midst of a rush of funding deals.
Last week, Brookfield Asset Management said it would invest more than $200 million into a company called Infinium that has a generally similar approach. Brookfield might put in up to $850 million more. A few years ago, Prometheus Fuels, a startup with a deal to sell fuel to American Airlines that has a comparable process, hit a $1 billion valuation. A competitor called HIF Global is also a unicorn after raking in investment.
Investors are shifting their bets in clean fuels to companies that use chemistry to turn carbon dioxide, water and renewable electricity into energy. Known as eFuels, synthetic fuels or power to liquids technologies, they offer the tantalizing possibility of producing limitless amounts if given enough cheap renewable power.
“This actually has a shot at eventually replacing fossil fuels,” said Zachary Bogue, co-managing partner at the venture-capital firm DCVC. It was one of Twelve’s first investors and is putting money in again in the new fundraising.
Such approaches are seen as the most practical long-term fuel source. Airlines are currently using some biofuels, which are made from fats, oils and greases; trash; or plants. The supply of these will likely be constrained eventually by the availability of feedstock material and land.
Many clean fuels projects are facing high costs and failures, contributing to Air New Zealand’s recent shelving of a 2030 emissions target.
The wave of investment into eFuels backs a trend in the energy transition under which companies with cash and the backing of big companies emerge as potential winners.
“We’re trying to move as quickly as we can to bring supply to the market,” Nicholas Flanders, Twelve’s chief executive officer, said in an interview. Alaska Airlines and a group of European carriers including British Airways have agreed to buy Twelve’s fuel, which can have emissions up to 90% lower than conventional jet fuel.
Twelve’s first plant, located in Moses Lake, Wash., will make about 50,000 gallons annually when it starts operating next year. Production of the new fuel won’t make a dent in the 100 billion gallon a year jet-fuel market for at least another decade, but capacity is growing across the industry.
The list of industry unicorns is short. Twelve joins Prometheus, HIF and a rival startup called LanzaJet, which is backed by Southwest Airlines and makes fuel from ethanol.
TPG committed $400 million to future Twelve plants and invested in a roughly $200 million fundraising for the company as a whole. The rest of the funding is small loans from banks including Japan’s Sumitomo Mitsui.
Flanders co-founded Twelve in 2015 at Stanford University’s business school with a pair of students getting doctorates in mechanical engineering and chemistry. The company’s name refers to the most abundant form of carbon on earth, the isotope carbon-12.
Twelve’s process uses devices that run on renewable power called electrolyzers. They bring carbon dioxide and water into contact with metal catalysts. Removing an oxygen atom from CO2 yields carbon monoxide, which is combined with hydrogen from the water to make synthesis gas. That syngas can be processed into fuel.
While many companies use electrolyzers to make hydrogen, Twelve is one of the few adding carbon in an integrated process, which it says can work at much lower temperatures. Its technology also makes a hydrocarbon product that can be used to make everything from plastics to laundry detergents. Procter & Gamble and Mercedes-Benz are among the companies talking to it about its applications.
Flanders is the son-in-law of Carlos Ghosn and says he talks to the former CEO of Nissan about managing Twelve’s suppliers. Supply-chain and construction kinks have contributed to delays at Twelve’s initial plant and pushed up costs across the industry.
Subsidies from the 2022 climate law and state incentives help producers close the cost gap with conventional jet fuel, as can government grants and loans.
One constraint on the burgeoning industry is the supply of green power. Twelve’s Washington project runs on hydropower, giving it an edge over its rivals. Power availability will be a key factor dictating where Twelve locates subsequent plants, Flanders said.
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>>> US approves tariff hikes on Chinese goods, including a 100% duty on EVs
Semafor
by Marta Biino
September 13, 2024
https://www.yahoo.com/news/us-greenlights-tariff-hikes-chinese-142156503.html
The US ratified sharp increases in tariffs on Chinese products Friday including a 100% duty on electric vehicles, in ongoing efforts to protect domestic industries from a flood of cheap Chinese goods.
The tariffs, which include a 50% levy on solar cells and 25% on steel, aluminum, EV batteries and key minerals, will go into effect at the end of September, Reuters reported.
Top White House economic adviser Lael Brainard told the outlet that the decision was a way to “ensure that the US EV industry diversifies away from China’s dominant supply chain.”
Tariff stance on China is a key topic ahead of US election
The steep tariffs come as the US’ two presidential candidates — Kamala Harris and Donald Trump — have projected tough-on-China stances ahead of November’s election. Harris will likely adopt a similar policy position to that of the Biden administration, while Trump’s vowed to once again become a ”tariff man,” threatening even higher levies on Chinese goods if he is reelected, marks a “protectionist escalation” in rhetoric that is rattling Republicans, Semafor’s Burgess Everett reported. But overall, the difference in approach toward Beijing between the two candidates seem to have “less to do with direction and more to do with degree,” Time noted.
Global curbs on China EVs haven’t slowed sales
Along with the US, the EU and Canada have also introduced curbs on Chinese EVs — but they have had little effect on sales, Euronews reported. In August, delivery numbers for most major Chinese EV makers actually increased, signaling “a rebound in demand for the vehicles internationally and suggesting that Chinese EV makers may be able to withstand regulatory challenges posed by new tariffs,” the outlet noted. Beijing-backed electric vehicle makers are also looking for creative ways around the efforts to limit their sales, with BYD, the country’s biggest, investing in manufacturing facilities across the world to more easily sidestep the tariffs.
Tariffs an ‘irrational’ move in light of global green transition
From a climate perspective, tariffs on electric vehicles — such as those imposed by the EU — are “irrational,” the director of the Institute for European Policy-Making at Bocconi University in Milan argued in Project Syndicate. The race to develop electric cars should be seen as “desirable,” he wrote, given the bloc’s effort to position itself as leading the fight against climate change. And while an ongoing trade war between some Western countries and Beijing may justify some of the EU’s concerns, the tariffs will undoubtedly make reaching the bloc’s net-zero targets more expensive, if not jeopardize them altogether, an environment research associate wrote for Britain’s Chatham House think tank.
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>>> Hyliion and Jardine Engineering Corporation Sign Memorandum of Understanding to Explore the KARNO Generator's Potential in Asian Power Generation Markets
Business Wire
Aug 19, 2024
https://finance.yahoo.com/news/hyliion-jardine-engineering-corporation-sign-123000429.html
AUSTIN, Texas, August 19, 2024--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) ("Hyliion"), a developer of sustainable electricity-producing technology, today announced that it has entered into a non-binding Memorandum of Understanding (MOU) with Jardine Engineering Corporation Limited ("JEC").
The MOU represents the first step toward a commitment from both companies to work together to explore the potential of Hyliion’s advanced KARNOTM technology in power generation projects and to collaborate jointly on select business opportunities in Hong Kong, Macau, and other markets where JEC operates. The KARNO generator is a groundbreaking fuel-agnostic solution that utilizes a linear generator architecture to produce electricity both economically and efficiently. Capable of operating on various fuels, including hydrogen, natural gas, biogas, and propane, the generator is expected to offer lower maintenance costs and a significantly reduced emissions profile compared to conventional technologies.
With a history dating back to 1923, JEC is one of the key leaders of power system business in Hong Kong and represents top brand electric generator suppliers from the US and Europe. Headquartered in Hong Kong, JEC is a listed specialist contractor for public works and is a premier provider of electrical and mechanical engineering solutions in the Asia Pacific region. This relationship aims to leverage the advanced capabilities of Hyliion’s KARNO generator, along with JEC's extensive domain knowledge, market presence, and project implementation capabilities, to provide innovative, sustainable power solutions in this dynamic region.
"Hyliion's KARNO generator technology aligns perfectly with our commitment to providing advanced and sustainable engineering solutions," stated Mr. Noky Wong, Chief Executive of JEC. "This collaborative effort with Hyliion represents a strategic step forward in advancing our capabilities and offerings in the power systems sector. Together, we look forward to exploring new ways to enable our customers to achieve engineering breakthroughs in ever more efficient and sustainable ways."
Thomas Healy, Founder and CEO of Hyliion, added, "We are thrilled to partner with JEC, a leader in integrated power systems with a strong presence in Asia. This collaboration is a significant step in our mission to provide sustainable and innovative energy solutions globally. By combining our innovative KARNO technology with JEC’s extensive market knowledge and engineering expertise, we are confident in delivering exceptional value and performance to meet the evolving energy needs of our customers worldwide."
The MOU between Hyliion and JEC is subject to the execution of a binding agreement. For more information about Hyliion and its innovative electrification solutions, please visit hyliion.com. For more information about Jardine Engineering Corporation Limited and how it helps engineer a better Asia, please visit jec.com.
About JEC
JEC is a leading provider of engineering services, sourcing, and contracting expertise. It enables customers to operate their facilities at world-class standards by providing the professional expertise to design, supply, and install building and specialized processes; facility operation and management; asset enhancement and energy management; and the sourcing of electrical and mechanical equipment and architectural fixtures.
JEC is headquartered in Hong Kong and operates throughout Asia. JEC is a member of the Jardine Matheson Group.
About Hyliion
Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide distributed power generators that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, with research and development in Cincinnati, Ohio, Hyliion is initially targeting the commercial and waste management industries with a locally deployable generator that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy.
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Confessions of an Economic Hit Man -
https://en.wikipedia.org/wiki/Confessions_of_an_Economic_Hit_Man
With a twist --> use 'climate change' as the justification for the loans to these developing countries -
>>> Yellen says $3 trillion needed annually for climate financing, far more than current level
Reuters
7-27-24
by David Lawder
https://www.msn.com/en-us/money/companies/yellen-says-3-trillion-needed-annually-for-climate-financing-far-more-than-current-level/ar-BB1qK5DV?OCID=ansmsnnews11
BELEM, Brazil (Reuters) - U.S. Treasury Secretary Janet Yellen said on Saturday that the global transition to a low-carbon economy requires $3 trillion in new capital each year through 2050, far above current annual financing, but that filling the gap is the biggest economic opportunity of the 21st century.
Yellen said in Belem, Brazil's Amazon gateway city, that reaching net-zero emissions goals remained a top priority for the Biden-Harris administration and this would require leadership far beyond U.S. borders.
"Neglecting to address climate change and the loss of nature and biodiversity is not just bad environmental policy. It is bad economic policy," Yellen said in a speech after attending a G20 finance leaders meeting on Thursday and Friday in Rio de Janeiro.
Wealthy economies provided and mobilized a record $116 billion for climate finance for developing countries in 2022, 40% of which came from multilateral development banks (MDBs). Yellen said the banks, including the World Bank and the Inter-American Development Bank (IDB) were setting new targets.
The financing need is "the single-greatest economic opportunity of the 21st century" and can be leveraged to support sustainable and more inclusive growth, including for investment-starved countries, she said.
While in Belem, Yellen met with finance ministers from Amazon basin countries and IDB President Ilan Goldfajn. She reaffirmed the U.S. commitment to the bank's Amazonia Forever platform, which provides a holistic approach to sustainable development in the region through financing, project preparation and collaboration.
"We are hopeful that this program will incentivize greater private-sector investment in the region that supports nature (lol)," she added.
Yellen called on MDBs nearly two years ago to expand their missions and lending capacity to include fighting climate change. She said this was "now in their DNA," but massive private investment was needed, and the Treasury, Brazil's finance ministry and other stakeholders were working to boost engagement with the private sector.
She said the banks should also catalyze new business models to mobilize investments that support nature and biodiversity (lol) while strengthening economies and advancing climate transitions.
Earlier on Saturday, Yellen launched a new initiative with Amazon basin countries Brazil, Colombia, Ecuador, Guyana, Peru, and Suriname to combat nature crimes, such as illegal logging and harvesting of wildlife and minerals, that are threatening biodiversity (lol) and the Amazon ecosystem (lol).
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Confessions of an Economic Hit Man -
https://en.wikipedia.org/wiki/Confessions_of_an_Economic_Hit_Man
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>>> NextEra Energy (NYSE:NEE) is a leading renewable energy and utility company headquartered in Juno Beach, Florida. The company operates through its two wholly owned subsidiaries, Florida Power and Light and NextEra Energy Resources.
https://finance.yahoo.com/news/3-best-dividend-stocks-buy-114500212.html
NextEra Energy is well-positioned to benefit from the global shift towards sustainable energy solutions. Its subsidiary, Florida Power & Light, is the largest electric utility company in Florida, and one of the largest in the United States. Moreover, NextEra Energy Resources is the world’s largest generator of renewable energy from the wind and sun. This segment operates energy storage facilities, an area that will see robust growth over the next decade. NextEra also had an incredible operational year in the 2023 fiscal year, while growing its backlog of solar and energy storage projects. Presently, management is extremely confident in its ability to execute its long-term strategy. NEE’s dividend yield currently stands at 2.87%, with a payout ratio that ensures the sustainability of its dividend. With 10% dividend growth forecasted through 2026, NEE stock is among the best dividend stocks to buy in 2024.
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>>> Stellantis tells owners of over 24,000 hybrid minivans to park outdoors due to battery fire risk
AP
7-18
https://www.msn.com/en-us/autos/news/stellantis-tells-owners-of-over-24-000-hybrid-minivans-to-park-outdoors-due-to-battery-fire-risk/ar-BB1qeC9N?cvid=8ef0a411f663480e9bc4044294c43675&ei=101
AUBURN HILLS, Mich. (AP) — Stellantis is telling the owners of more than 24,000 plug-in hybrid minivans to park them outdoors away from buildings, and to stop charging them due to the possibility of battery fires. (!!)
The company said Thursday that it's recalling certain 2017 through 2021 Chrysler Pacifica plug-in hybrids, mainly in North America. Some are being recalled for a second time. All can still be driven.
Stellantis, maker of Jeep, Chrysler, Ram and other vehicle brands, said its investigation is ongoing but the company has linked the problem to a rare abnormality in individual battery cells. The risk of fires is reduced when the battery is depleted. (LOL)
A company review of warranty data discovered seven fires within the group of vans being recalled. All happened when the vehicles were turned off, and some occurred during charging, Stellantis said. Four customers reported symptoms of smoke inhalation.
Engineers are still testing the remedy, which involves a software update designed to detect the battery abnormality. If a problem is found, dealers will replace the high-voltage battery at no cost to owners.
Owners will be notified by mail when to take their minivans in for service. After July 24, they can go to recalls.mopar.com or checktoprotect.org and key in their vehicle identification numbers to see if their vans are part of the recall. Later models have an improved manufacturing process and are not being recalled, the company said.
The recall comes six months after U.S. safety regulators began investigating a 2022 recall of nearly 17,000 of the vans. The National Highway Traffic Safety Administration said in documents that it would review the effectiveness of the recall and try to understand the cause of the battery fires.
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Rickards - >>> Green New Scam Is Dying
BY JAMES RICKARDS
JULY 2, 2024
https://dailyreckoning.com/green-new-scam-is-dying/
Green New Scam Is Dying
It’s no secret that the vast majority of the so-called elites are advocates of climate alarmism and are taken in by the Green New Scam.
Whether this preference is based on ignorance of the science, ideological zeal, a willful desire to hurt American growth or simple greed because of their investments in Green New Scam infrastructure varies case by case.
The typical upper-income supporter of the climate cult including academics, media figures and celebrities is probably ignorant of the fact that there is no evidence that CO2 emissions cause climate change and that the real causes are solar cycles, volcanoes, ocean currents and atmospheric moisture not caused by humans.
Climate Alarmists Have It Backward
The historical record actually demonstrates that warming periods produce higher CO2 levels — not the other way around. CO2 doesn’t cause warming. It’s caused by natural warming.
In other words, climate alarmists have causation completely backward.
Climate alarmism is based almost entirely on computer models, which depend on the inputs the modelers themselves build into them. A model is only as good as the inputs and assumptions programmed into it.
Virtually every one of these models has overestimated warming, sometimes by orders of magnitude, because it’s based on faulty assumptions that overestimate the impact of CO2 on climate.
In other words, it’s junk science. But they keep relying on these models because their political agenda requires it.
Climate: The New Communism
There’s no doubt that a fair number of neo-Marxists embrace the climate scam because they know it damages U.S. industry, raises costs to U.S. consumers and helps to undermine the U.S. economy.
Following the end of the Cold War and the collapse of communism, anti-capitalistic collectivists admitted that they needed to promote the climate agenda because the only way to combat global warming is through collective action. It requires a coordinated global effort that limits national sovereignty.
The neo-Marxists are impervious to evidence; they just want to hurt America and wasting money on windmills instead of building new refineries is a good way to do it. That leaves the greed crowd.
The Real “Green” in the Green Agenda
They’re early investors in windmills, solar modules, lithium car batteries, EVs, charging stations, carbon credits and other infrastructure of the climate scam. They stand to make billions of dollars off the narrative with help from extravagant government subsidies.
They don’t really care if it all collapses in the end (which it will) as long as they get rich at taxpayer expense in the meantime. All of this behavior is clear as far as it goes. What is not clear is the extent to which the Green New Scammers are doing this with your money.
The best example is multibillionaire Larry Fink, who runs the giant BlackRock investment fund. Fink has been aggressive in promoting the climate scam along with racial quotas, DEI and defunding police.
He’s entitled to his opinions. But is he entitled to pursue his radical agenda with pension fund money from conservative states and institutions? Fortunately, a backlash has begun against Fink and his fellow wokesters.
More state pension fund managers are beginning to pull their funds from BlackRock and other investment managers that pursue far-left policies not in the best interests of their beneficiaries. This backlash may not change Larry Fink’s lifestyle. But over time, it might change the world for the better.
The EV Sham
A major part of the climate agenda includes electric vehicles (EVs). I’ve been warning for years that EVs aren’t feasible as a transportation solution for more than relatively few Americans and that they are little more than glorified golf carts despite the $70,000-and-up price tags.
In the first place, EVs don’t cut carbon emissions. The car itself does not have emissions, but it’s charged with electricity from power plants that do.
The batteries are made with poisonous chemicals and metals including lithium, cobalt, copper and nickel that come from mining operations that use enormous amounts of water and electricity to extract the needed materials.
It takes thousands of tons of ore to extract enough critical minerals to make one battery. EVs don’t take a charge in extreme cold, and the batteries can’t hold a charge. Travel range is grossly overstated for many reasons, including the fact that EV car heaters drain the batteries (with internal-combustion engines, ICEs, the engine makes heat which can easily be directed into the car to keep passengers comfortable with no additional energy required).
Resale values of EVs are close to zero because buyers of used EVs have to shell out $25,000 or more for new batteries after the vehicle is about seven years old. The list of drawbacks goes on.
Most Americans have resisted EVs because they understand the disadvantages. But many Americans were drawn to the false promise of emission-free transportation and other ridiculous claims by the Green New Scammers. Now even the most committed EV buyers are waking up.
I Want My ICE Car Back
A new survey by consulting firm McKinsey and Co. shows that 29% of EV owners in nine major economies want to return to ICE vehicles. When the sample is narrowed to just the U.S., 46% of those surveyed want to return to ICEs.
The McKinsey officials who conducted the survey claim to be “surprised” by those results. That probably says something about the fact that McKinsey experts are just as deluded about EVs as the buyers surveyed.
When breaking down the results, 45% say EVs are too expensive, 33% say they have charging concerns and 29% are concerned about the limited driving range.
The truth is that the EV was invented in 1837 and reached the peak of its popularity in 1910 just before the mass production of internal-combustion cars by Henry Ford. The American public got it right when they flocked to the Model T.
It sounds like they’re getting it right again after a brief infatuation with the false promise of the EV. The bottom line is that the Green New Scam is falling apart.
It can’t happen soon enough.
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>>> Earth Has a Third Form of Life—and It Could Change How We Generate Power
Popular Mechanics
by Darren Orf
6-14-24
https://www.msn.com/en-us/news/technology/earth-has-a-third-form-of-life-and-it-could-change-how-we-generate-power/ar-BB1oe6g9?ocid=BingNewsSerp&cvid=32cb9ba3900e415bbb61d57c9eff8799&ei=75
Earth’s immense web of life fill three broad domains—archaea, bacteria, and eukarya.
Scientists from Monash University recently discovered hydrogen-producing enzymes in archaea, which were thought to only exist in the other two orders.
These archaea enzymes, known as hydrogenases, are smaller and more complex than those found in the other two domains, and could help biotech firms develop better, more efficient hydrogen energy systems.
Earth is home to an estimated 8.7 million species, only a fraction of which have been scientifically identified. However, despite this vast, disparate tree of life, every living thing falls into one of three large categories, or “domains”—archaea, bacteria, and eukarya.
All of the usual stuff we think of as “life”—things like trees, fungi, and animals—are eukaryotes, meaning that their cells contain a nucleus and other membrane-bound organelles. Archaea and bacteria, on the other hand, are prokaryotic, meaning they don’t contain such structures. While these two other domains might look similar under a microscope, there is a long list of differences that make archaea as different from bacteria as they are from humans.
Since the discovery of archaea in the late 1970s, scientists have believed that one difference between this third domain and other forms of life is that these organisms didn’t produce hydrogen-using enzymes known as “hydrogenases.” However, a new study published this week in the journal Cell says that not only is this not true, but in fact, archaea have been consuming and producing hydrogen for two billion years—a process that has allowed them to live in some of the most hostile locales on Earth.
Understanding this process can also help illuminate how all other life came to be—the leading biological theory suggests that the first eukaryotes formed when an ancient species of archaea merged with a bacteria cell (a.k.a. endosymbiosis) via hydrogen-gas exchange.
“Humans have only recently begun to think about using hydrogen as a source of energy, but archaea have been doing it for a billion years,” Bob Leung, a co-author of the study, said in a press statement. “Our finding brings us a step closer to understanding how this crucial process gave rise to all eukaryotes, including humans.”
In the study, the research team looked at the genomes of thousands of archaea, found hydrogen-producing enzymes, and then created those enzymes in a lab for further study. What they noticed is that some of these archaea produced an enzyme known as [FeFe]-hydrogenase.
This goes against the idea that only the other two domains made use of these kinds of enzymes, and also highlights the fact that archaeal enzymes were both the smallest and most-complex form hydrogen-using enzymes found amongst the all three domains. This could have big implications as engineers continue exploring ways to use hydrogen as a green energy source.
“Industry currently uses precious chemical catalysts to use hydrogen. However, we know from nature that biological catalysts function can be highly efficient and resilient,” Chris Greening, the lead author of the study, said in a press release. “Can we use these to improve the way that we use hydrogen?”
Amazingly, uncovering a two billion-year-old process—related to the one of the least understood domains of life—could help illuminate a path toward a desperately needed, zero-emission future. While archaea can survive beyond boiling temperatures or freezing points, a lot of us eukaryotes need things to be a bit more mild.
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>>> Alaska pipeline - >>> Environmentalists urge US to plan 'phasedown' of Alaska's key oil pipeline amid climate concerns
by BECKY BOHRER
Associated Press
6-12-24
https://www.msn.com/en-us/news/us/environmentalists-urge-us-to-plan-phasedown-of-alaska-s-key-oil-pipeline-amid-climate-concerns/ar-BB1o75XB?cvid=aef0dabde69640d0913ff2a0c52ec878&ei=62
JUNEAU, Alaska (AP) — Environmental groups on Wednesday petitioned the U.S. Department of Interior to review climate impacts related to the decades-old trans-Alaska pipeline system and develop a plan for a “managed phasedown” of the 800-mile (1,287-kilometer) pipeline, which is Alaska's economic lifeline.
The request comes more than a year after the Biden administration approved the massive Willow oil project on Alaska's petroleum-rich North Slope, a decision that was welcomed by Alaska political leaders seeking to stem a trend of declining oil production in the state and by many Alaska Native leaders in the region who see the project as economically vital for their communities. Willow, which is being developed by ConocoPhillips Alaska, could produce up to 180,000 barrels of oil a day.
Some of the groups who filed the petition, including the Center for Biological Diversity and Sovereign Iñupiat for a Living Arctic, are among those who have asked an appeals court to overturn the approval of Willow. A decision is pending.
Oil flow through the trans-Alaska pipeline system averaged around 470,000 barrels a day last year. At its peak, in the late 1980s, about 2 million barrels a day flowed through the line, which began operating in 1977.
The last environmental analysis, done more than 20 years ago as part of a right-of-way renewal, is “woefully outdated,” the groups said in their petition. They cite the rapid warming and changes the Arctic region has experienced, noting that several ice-reliant species, such as polar bears, have received Endangered Species Act protections since the last review. They also raise concerns about the impacts of thawing permafrost on the pipeline infrastructure. While the next environmental review is expected in about a decade, that's too long to wait, they argue.
“Every drop of oil that moves through the pipeline is more climate devastation, both here in Alaska and around the world,” said Cooper Freeman, Alaska director for the Center for Biological Diversity. “The longer we wait to have this hard conversation about the inevitable — because we must transition off of fossil fuels and we have to do it urgently — the harder it’s going to be for Alaska.”
Michelle Egan, a spokesperson for pipeline operator Alyeska Pipeline Service Co., said in a statement that the company continues to “collaborate with our numerous federal and state regulatory partners as we meet our commitments to safe and environmentally responsible operations. We are steadfast and dedicated to being a prudent operator, safely and reliably transporting oil from the North Slope of Alaska into the future.”
Freeman said Interior can accept the groups' request or deny it, which the groups could challenge. If Interior doesn't respond in what would be considered a reasonable amount of time, the groups can seek to compel a response through the courts, he said.
Interior did not have a comment, spokesperson Giovanni Rocco said by email.
The petition asks that the U.S. Bureau of Land Management, which falls under Interior, evaluate a range of options that include not renewing the right-of-way, issuing a right-of-way for a period of 10 or fewer years to allow for “continuous re-evaluation of the landscape in which TAPS operates,” setting potential limits on how much oil flows through the pipeline and requiring North Slope oil producers to adopt emissions controls for their operations.
The groups say the “only rational conclusion of that analysis will be a managed phasedown of the pipeline,” and their petition calls on the land management agency to begin work on such a plan. It doesn't suggest a timeline for a phasedown.
“We're not asking for the pipeline to shut down tomorrow. We’re saying you need to start the conversation now,” Freeman said. “That includes extensive conversation, engagement, consultation with communities across Alaska, especially on the North Slope. ... The longer we wait, the more pain for people, wildlife and the climate, especially here in Alaska.”
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>>> Eco Wave Power Global AB (publ), a wave energy company, engages in the development of a wave energy conversion (WEC) technology that converts ocean and sea waves into clean electricity. The company also holds various agreements comprising power purchase agreements, concession agreements, and other agreements worldwide with pipeline of projects with approximately 404.7 megawatts. It has operations in the United States, Sweden, Israel, the British Overseas Territory of Gibraltar, Greece, Portugal, China, Australia, and internationally. The company was formerly known as EWPG Holding AB (publ) and changed its name to Eco Wave Power Global AB (publ) in June 2021. Eco Wave Power Global AB (publ) was founded in 2011 and is headquartered in Tel Aviv-Yafo, Israel.
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European solar - >>> Losing hope of rescue, some European solar firms head to US
Reuters
by Sarah McFarlane and Riham Alkousaa
4-15-24
https://www.yahoo.com/news/losing-hope-rescue-european-solar-060514885.html
FRIEBERG, Germany (Reuters) - European governments due to move to support their solar power manufacturers this week will be too late to stop solar panel maker Meyer Burger packing up a German factory to send production to the United States.
The plant in Freiberg in eastern Germany closed in mid-March with the loss of 500 jobs, as the Swiss-listed firm joined a growing list of European renewable energy manufacturing factories shutting down or moving. In the past year, at least 10 have said they are in financial difficulties.
On a recent visit to the site, giant white robotic arms hung dormant over empty wooden pallets as workers prepared the last production line for shutdown. Talks with the German federal government to try to secure a future for the factory ended without success in late March, a company spokesperson told Reuters.
Germany's economy ministry said it was aware of the "very serious situation" of German companies and has been examining funding options with the industry for over a year. It agreed to give Meyer Burger an export credit guarantee for equipment produced in Germany to be used at the U.S. factories, which will help a site nearby but won't save the Freiberg one.
The closure, which in one sweep reduced European solar panel production by 10%, comes despite a boom in wind and solar energy in Europe. Additions to renewable energy capacity, including solar panels, are running at record pace, according to data from the International Energy Agency.
But Europe-based manufacturers that supply those panels are being crushed by competition from China and the U.S., whose governments give more support to their producers.
The situation poses a dilemma for European governments keen to fight climate change: Either offer more support to ensure local production can stay competitive, or allow the unfettered flow of imports to keep up the pace of installations. A meeting in Brussels between European energy ministers on Monday will make a gesture of support for the struggling industry.
China is expanding solar output and now accounts for 80% of the world's solar manufacturing capacity. The cost of producing panels there is around 12 cents per watt of energy generated, compared with 22 cents in Europe, according to research firm Wood Mackenzie.
U.S. subsidies announced as part of the 2022 Inflation Reduction Act allow some renewable energy manufacturers and project developers to claim tax credits, which are attracting businesses from within the European Union and beyond.
Meyer Burger says its plans include a solar panel factory in Arizona and a solar cell factory in Colorado.
"We made a bold move in the absence of any industry policy support in Europe and shifted a solar cell expansion project from Germany to the U.S.," its chief executive Gunter Erfurt told Reuters in an interview.
Similarly, battery company Freyr which operates mostly in Norway, has stopped work at a half-finished plant near the Arctic Circle and is focusing on plans for a plant in the U.S. state of Georgia after Washington announced the policy.
Freyr said in February it had changed its registration to the U.S. from Luxembourg.
"We did spend quite a bit of time trying to really make sure that we weren't committing a mistake," said Birger Steen, chief executive of Freyr: The company first hunted for support from Norwegian or European governments.
"We got to the point where we concluded that that form of policy level response was not forthcoming."
Asked to comment, Norway's ministry of trade and industry said that it had launched an industrial policy framework targeting energy transition technologies including solar and batteries, but did not directly address questions about additional funding for the companies in this story.
CHARTER
At Monday's meeting, the European Commission will launch a voluntary charter for governments and companies to sign in support of solar manufacturing plants. Industry association Solar Power Europe will coordinate company signatories. But the charter, which says that buyers of solar panels should include some domestic production in what they buy, is not enforceable, Solar Power Europe said.
Michael Bloss, EU parliament member for Greens, launched a petition earlier this month calling for action at a European level to rescue panel manufacturers.
Bloss says he is pushing for the European Commission to set up a 200 million euro ($213 million) fund to buy up unused European-made solar panels, but Europe has been unwilling to pursue that. The European Commission declined to comment.
"We are -- in headlines and Sunday speeches -- very much in favour of creating our own solar industry, but then in action, nothing happens," Bloss told Reuters.
"The charter will be more like a political declaration signed by member states, solar companies and the Commission, it's more long term, it has no immediate effect."
In February, European policymakers adopted the Net-Zero Industry Act, a set of measures including a target to produce 40% of the region's clean tech needs by 2030.
The previous month, the EU also approved almost $1 billion of German state aid for a Swedish battery producer, Northvolt, to help it set up a production plant in Germany after Northvolt threatened to take its business to the United States. It was the first time the bloc made use of an exceptional measure allowing member countries to step in with aid when there's a risk of investment leaving Europe.
But aid for ongoing operations has not been forthcoming, amid political disagreement over how much public funds should go to struggling businesses.
Decisions about supporting industries or firms like Meyer Burger are down to member states, a spokesperson for the European Commission told Reuters. Germany's economy and climate ministry believes aid to maintain an existing company like Meyer Burger would not be legal "if there is a lack of market prospects from the company's perspective," a spokesperson told Reuters.
Potential customers -- renewable energy installers that depend heavily on cheap Chinese imports -- have also pushed back against any new subsidies for local panels, arguing such moves could hurt them by causing consumers to postpone orders as they wait for the subsidies to kick in.
INTERTWINED
More than a year's worth of low-price imported panels sit in European warehouses awaiting installation, according to consultancy Rystad Energy and solar panel makers. Reuters could not independently verify that estimate.
That backlog could grow as Chinese capacity continues to expand, Rystad says: If all the plans Chinese firms have announced go ahead, China's industry will be able to make twice as many panels as are expected to be installed worldwide in 2024, said Marius Mordal Bakke, senior analyst at Rystad.
Dresden-based Solarwatt is carrying six to nine months of stocks, up from around six weeks, its chief executive Detlef Neuhaus told Reuters in March.
The company laid off around 10% of its employees last year and says its local panel production is running at roughly one-third of capacity.
"This industry is so important for the future, we cannot allow that we are losing all our competence," said Neuhaus.
Analysts say it's not clear what support could actually help, because firms like Meyer Burger produce a fraction of the volumes made by those in China, or planned in the U.S.
"They are tiny, so they will always struggle with volume, not just to compete with Chinese producers but also with U.S. producers," said Eugen Perger, senior analyst at Research Partners AG.
And local clean technology industries are so globally intertwined it's hard for European manufacturers to imagine a fully independent supply chain.
Norway-based NorSun, which produces solar wafers – thin silicon film used in panels – said Chinese equipment is crucial to both its plant in Norway and a proposed facility in the U.S. The company has halted production at the Norway plant while it decides whether to upgrade it.
Most of the equipment for either project would have to come from China. "There's essentially no other option," said Carsten Rohr, chief commercial officer at NorSun.
DEJA VU
Freiberg has been here before. Since the 1990s, companies setting up operations in the region have benefited from federal funding programmes to rebuild east Germany and help it close the gap with western Germany's prosperity.
New industries sprang up, including in solar and semiconductors. But Freiberg took a big hit in the 2010s after China's solar industry boosted production and undercut competitors.
In 2020, the German government removed a cap on subsidies for solar power installations which helped lift demand. In 2021, the EU's Green Deal signalled political support for future demand, and Russia's full invasion of Ukraine also helped solar deployment.
Meyer Burger, which is headquartered in Gwatt, Switzerland, only set up production in Freiberg in 2021 as the industry started coming back to life. It refurbished a bankrupt solar company's plant that had stood unused for almost three years.
For a while it became one of the town's largest employers, mayor Sven Krueger confirmed.
"This is the second time the German solar industry is at risk. They failed once already," said apprentice Max Lange, 19, greeting colleagues with a silent nod as they cleaned idled machinery on the factory floor.
"If it fails again, I doubt that I will be able to pursue a career in the European solar industry, because I don't think it will come back," he said, wondering aloud if he might instead find work in the U.S. solar industry.
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>>> Nextracker Inc. (NASDAQ:NXT) is a renewable power generation company headquartered in California.
https://finance.yahoo.com/news/20-states-produce-most-renewable-012901150.html
It provides solar energy solutions such as utility-scale solar power, solar power plant performance monitoring, and tracking systems. On February 12, the company announced that it has been selected for a repeat order to supply its solar trackers of 1.5 GW and 375 GW by Sterling and Wilson Renewable Energy Ltd (NSE:SWSOLAR), a leading renewable solutions provider in India. The solar trackers will be utilized for phase two and phase three solar projects at the solar park of NTPC Renewable Energy Limited in Gujarat, India. The tracker selected for the plant is Nextracker Inc.'s (NASDAQ:NXT) NX Horizon smart solar tracker, which is one of the most reliable and widely deployed trackers of the company. It boasts high speed, installation ease, and the ability to provide tracking services for challenging sites. This order marks the completion of over 5 GW of collaborative solar power generation projects by Nextracker Inc. (NASDAQ:NXT) and Sterling and Wilson Renewable Energy Ltd (NSE:SWSOLAR).
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>>> Phillips 66 Announces Major Milestone in Production of Renewable Diesel
Business Wire
Apr 1, 2024
https://finance.yahoo.com/news/phillips-66-announces-major-milestone-203900162.html
HOUSTON, April 01, 2024--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) today announced a major milestone in its conversion of the San Francisco refinery into the Rodeo Renewable Energy Complex, expanding commercial scale production of renewable diesel.
The Rodeo Renewed project has progressed, with the facility now processing only renewable feedstocks and producing approximately 30,000 barrels per day of renewable diesel. The Rodeo Renewable Energy Complex is on track to increase production rates to more than 800 million gallons per year (50,000 BPD) of renewable fuels by the end of the second quarter, positioning Phillips 66 as a leader in renewable fuels.
"We are proud to announce this significant achievement at our Rodeo facility," said Rich Harbison, Phillips 66 executive vice president of Refining. "The project advances Phillips 66’s long-held strategy to expand our renewable fuels production, lower our carbon footprint, and provide reliable, affordable energy while creating long-term value for our shareholders."
Harbison added, "We’ve had strong execution to-date and are fully focused on finalizing the project in the second quarter."
The Rodeo Renewed project design also provides the capability of producing renewable jet, a key component of sustainable aviation fuel (SAF), expected to start production in the second quarter of 2024.
Phillips 66 made a final investment decision to move forward with the Rodeo Renewed project in 2022, transforming the San Francisco refinery into one of the world’s largest renewable fuels facilities. As a world-class supplier of renewable fuels, the converted facility leverages a premium geographic location, unique processing infrastructure and flexible logistics to significantly reduce lifecycle carbon emissions.
About Phillips 66
Phillips 66 (NYSE: PSX) is a leading diversified and integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future.
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>>> Phillips 66 Announces Major Milestone in Production of Renewable Diesel
Business Wire
Apr 1, 2024
https://finance.yahoo.com/news/phillips-66-announces-major-milestone-203900162.html
HOUSTON, April 01, 2024--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) today announced a major milestone in its conversion of the San Francisco refinery into the Rodeo Renewable Energy Complex, expanding commercial scale production of renewable diesel.
The Rodeo Renewed project has progressed, with the facility now processing only renewable feedstocks and producing approximately 30,000 barrels per day of renewable diesel. The Rodeo Renewable Energy Complex is on track to increase production rates to more than 800 million gallons per year (50,000 BPD) of renewable fuels by the end of the second quarter, positioning Phillips 66 as a leader in renewable fuels.
"We are proud to announce this significant achievement at our Rodeo facility," said Rich Harbison, Phillips 66 executive vice president of Refining. "The project advances Phillips 66’s long-held strategy to expand our renewable fuels production, lower our carbon footprint, and provide reliable, affordable energy while creating long-term value for our shareholders."
Harbison added, "We’ve had strong execution to-date and are fully focused on finalizing the project in the second quarter."
The Rodeo Renewed project design also provides the capability of producing renewable jet, a key component of sustainable aviation fuel (SAF), expected to start production in the second quarter of 2024.
Phillips 66 made a final investment decision to move forward with the Rodeo Renewed project in 2022, transforming the San Francisco refinery into one of the world’s largest renewable fuels facilities. As a world-class supplier of renewable fuels, the converted facility leverages a premium geographic location, unique processing infrastructure and flexible logistics to significantly reduce lifecycle carbon emissions.
About Phillips 66
Phillips 66 (NYSE: PSX) is a leading diversified and integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future.
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GE Vernova - >>> GE completes three-way split, breaking off from its storied past
Reuters
by Rajesh Kumar Singh and Abhijith Ganapavaram
April 2, 2024
https://finance.yahoo.com/news/ge-completes-three-way-split-103653223.html?.tsrc=fin-notif
CHICAGO (Reuters) -General Electric on Tuesday completed its breakup into three companies, marking the end of the 132-year-old conglomerate that was once the most valuable U.S. corporation and a global symbol of American business power.
The industrial giant's aerospace and energy businesses began trading on the New York Stock Exchange as separate entities more than a year after GE spun off its healthcare business.
GE Aerospace has retained the GE symbol. The energy unit, GE Vernova, made its debut under the ticker symbol GEV.
GE Aerospace shares were up about 2% at mid-afternoon. Vernova rose about 5%.
The breakup culminates CEO Larry Culp's efforts to turn around a company that looked all but dead due to bad investments and the 2008 financial crisis that nearly bankrupted its most profitable business, GE Capital.
When Culp, the first outsider to run GE, took the helm in 2018, the company was struggling with weak profits and a mountain of debt. Its stock had fallen nearly 80% from highs in 2000 and lost its spot in the Dow Jones Industrial Average after over a century in the blue-chip stock index. The tumult prompted GE's board to oust two of his predecessors in less than two years.
Culp's task to save the struggling conglomerate became more challenging when its lucrative jet engine business fell victim to the coronavirus pandemic as global air travel dried up. However, his focus on paying off debt by selling assets and improving cash flows by streamlining operations and cutting overhead costs ushered in a recovery.
GE has slashed more than $100 billion of debt and quadrupled its free cash flow since 2018. Its market cap has grown by about $100 billion to $192 billion.
"With the successful launch of three independent, public companies now complete – today marks a historic final step in the multi-year transformation of GE," Culp said on Tuesday.
Culp, as the CEO of GE Aerospace, rang the NYSE opening bell on Tuesday, along with Vernova CEO Scott Strazik.
GE was formed in 1892 after famed inventor Thomas Alva Edison merged Edison General Electric Co with a rival. In subsequent years, it has touched all parts of life - from bringing electricity to selling appliances to financing mortgages.
After the split, it will be left with its aerospace business, which makes engines for Boeing and Airbus jets and generates more than 70% of its revenue from services.
Analysts estimate the market value of GE Aerospace at more than $100 billion after the spinoff. It is benefiting from a surge in demand for aftermarket services because jet delivery delays by Boeing and Airbus are forcing airlines to fly older planes for longer.
Last month, it forecast operating profit of about $10 billion in 2028.
"We expect GE Aerospace's engine business flywheel to spin off decades of profitable growth," Nicolas Owens, equity analyst at Morningstar, wrote in a note.
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NextEra Energy - >>> Beat the S&P 500 With This Cash-Gushing Dividend Stock
by Matt DiLallo
Motley Fool
March 29, 2024
https://finance.yahoo.com/news/beat-p-500-cash-gushing-091500753.html
NextEra Energy (NYSE: NEE) isn't your average utility stock. Most utilities tend to be slower-growing companies known more for paying higher-yielding dividends. As a result, many struggle to beat the S&P 500. However, while NextEra does pay an above-average dividend (currently yielding 3.4% compared to the S&P 500's 1.3%), it has a proven ability to deliver market-beating total returns. Over the last decade, the utility has produced a 13.1% average annualized total return, outpacing the S&P 500's 12.9% total return.
NextEra should have the power to continue outperforming the S&P 500 in the future. Here's why.
A cash-gushing machine
Like most utilities, NextEra Energy generates lots of stable cash flow. In 2023, it produced $11.3 billion in net cash provided by operating activities. It used $3.7 billion of that cash to pay dividends to shareholders. That gave the company a relatively low dividend payout ratio (59% of its adjusted earnings, well below the peer group average of 65%).
NextEra Energy retained the rest of its steady cash flow to help fund new investments to grow its electric utility in Florida (FPL) and Energy Resources platform. It invested $9.4 billion at FPL, including placing 1.2 gigawatts (GW) of cost-effective solar projects into service and starting up a 25-megawatt hydrogen pilot project at its Okeechobee Clean Energy Center. Meanwhile, it invested roughly $15.7 billion to expand the Energy Resources business, primarily to build new renewable energy capacity. The company funded the shortfall with asset sales and its strong balance sheet.
These investments helped lift its adjusted earnings by 9.3% per share last year. That earnings expansion supported a 10% increase in the company's dividend. NextEra Energy has boosted its adjusted earnings at a 10% compound annual rate over the last decade while delivering 11% compound annual dividend growth. That rapid earnings and dividend growth have helped power its market-beating returns.
The fuel to continue beating the S&P 500
NextEra Energy Partners expects to use its strong cash flow to continue increasing its dividend and invest in expanding its infrastructure. It's investing $85 billion to $95 billion through 2025 in infrastructure projects. FPL expects to add 4.8 GW of solar capacity over the next few years. Meanwhile, its Energy Resources segment has secured over 20 GW of wind, solar, and energy storage projects. It's also investing money to modernize FPL and build energy transmission lines in Energy Resources.
These investments should boost its earnings by 6% to 8% annually through at least 2026, with the expectation that growth will be toward the upper end of that range. Operating cash flow should expand at or above the top end of that range. That should give NextEra Energy the power to increase its dividend by 10% annually through at least 2026. Add in its higher-yielding dividend, and the company's rising earnings should give it the fuel to produce total returns of at least 9% to 11% annually over the next few years.
Meanwhile, its longer-term growth outlook remains equally compelling. According to multiple forecasts, renewable energy demand in the U.S. will grow at a 13% compound annual rate through 2030. That suggests the country will build more capacity over the next several years (375 GW-450 GW) than it did over the past three decades (235 GW). Given the massive amount of renewable energy capacity needed to decarbonize the U.S. economy, there's still plenty of growth potential beyond that time frame. As a leader in the industry, NextEra should keep capturing opportunities to invest in the sector. That should enable it to expand its earnings at an above-average rate, supporting continued dividend growth.
A powerful wealth creator
NextEra Energy's utility and renewable energy operations generate lots of cash, which it uses to pay dividends and invest in expanding its businesses. Those growth-related investments should increase its cash flow in the future, giving it more money to pay dividends. That growing earnings and income should give it the power to continue producing market-beating total returns.
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>>> AI Is Giving Nuclear Power a Big Lift. 4 Stocks Riding the Trend.
Data centers being built to run AI systems require lots of power. Nuclear power is exceptionally well suited to meeting such enormous demands.
Barron's
by Avi Salzman
March 28, 2024
https://www.barrons.com/articles/ai-nuclear-power-stocks-8852a830
A small set of companies that own nuclear reactors have seen their stocks soar at Nvidia-like rates in the past few months, part of a little-noticed renaissance in an industry that hasn’t had much to brag about in years. They can thank artificial intelligence.
Nuclear power, it turns out, is exceptionally well suited to meeting the enormous electricity demands of data centers for AI. As a result, the stocks of Constellation Energy CEG, Vistra, and Talen Energy are each up more than 90% in the past year. There’s a good chance they’ll go still higher.
“The world clearly is moving in our direction,” said Constellation CEO Joe Dominguez on the company’s latest earnings call.
For years, most of the world was moving in the opposite direction. The fear of nuclear accidents like the 2011 Fukushima disaster is part of the problem. But economics have played a role, too. Operating a nuclear plant has been a terrible business — barely profitable without government subsidies. Generating electricity from nuclear fuel often costs more than generating it from natural gas, because natural-gas prices have fallen during the U.S. shale-drilling revolution. The growth of renewables also complicates life for nuclear power owners. When strong winds gust in Texas, the surge of wind power can cause electricity prices to fall below zero...
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Thanks. Recycling sure seems like an interesting sector, and should grow in importance over time. I know with some of the waste companies like Republic Services, recycling is becoming a really big part of their business. As investors this should be an interesting area to do more research.
At minimum there's going to be a ton of lithium batteries to recycle in coming years, mountains of them, and all packed with highly toxic substances. One good development is that the auto companies are rushing to develop new solid state lithium car batteries, which will solve the severe fire hazards with EVs, as well as eliminating the need for cobalt and other rare and/or toxic materials -
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173494550
>>> Toyota’s Rival In Solid-State EV Development Is A Supplier: Schaeffler
Schaeffler and Honda are already close partners. Wouldn’t all-solid-state make a nifty battery pack for a new Acura NSX?
AutoWeek
by Todd Lassa
DEC 21, 2023
https://www.autoweek.com/news/a46192062/solid-state-ev-battery-development-toyota-schaeffler/
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Here's how shredded wind turbine blades can be used to make cement, and FUEL
>>> Constellation Forecasts Strong Earnings Growth in 2024 and Beyond as Demand and Support for Clean Energy Builds
BusinessWire
February 27, 2024
https://finance.yahoo.com/news/constellation-forecasts-strong-earnings-growth-105500886.html
Initiating full-year Adjusted (Non-GAAP) Operating Earnings per share guidance of $7.23 to $8.03
Nuclear PTC provides earnings visibility and platform for growth
Announcing 25% dividend per share growth, exceeding 10% annual dividend growth target
Started next $1 billion in share repurchases
Targeting long-term base EPS growth of at least 10% through the decade
BALTIMORE, February 27, 2024--(BUSINESS WIRE)--Marking the start of its third year as an independent company, Constellation, the nation’s largest producer of carbon-free energy, will host a virtual investor and analyst event via webcast today to lay out a forecast for earnings growth based on the strength of its industry-leading commercial business and market and policy recognition that nuclear energy is essential to addressing the climate crisis while preserving grid reliability and the nation’s energy security.
"The most valuable commodity in the world today remains clean energy that can be depended on in every hour of every day, and no U.S. company is better positioned to deliver on that promise than Constellation, which has more clean, reliable nuclear capacity than all other U.S. competitive generators combined," said Joe Dominguez, president and CEO of Constellation. "State and federal policies, bipartisan political support, public opinion surveys and increased customer demand for reliable and clean energy all point to strong and growing support for nuclear energy to power our economy for decades to come. Combined with our industry-leading Commercial business that helps our customers achieve their climate goals, we see a growing landscape of opportunities to continue building our business and lead the clean energy transition."
Highlights from the Investor Update
Strong financial outlook with predictable earnings: Constellation initiated guidance for 2024 Adjusted (Non-GAAP) Operating Earnings of $7.23 to $8.03 per share. The Adjusted (Non-GAAP) Operating Earnings guidance excludes the effects of the following from projected GAAP net income:
Unrealized impacts of fair value adjustments
Decommissioning-related activities
Pension and Other Postretirement Employment Benefit (OPEB) non-service credits
Separation costs
Enterprise Resource Program (ERP) system implementation
Other items not directly related to the ongoing operations of the business
Noncontrolling interest related to exclusion items
The nuclear production tax credit (PTC) in the IRA provides a stable foundation for consistent and growing earnings that will allow Constellation to continue investing in growth opportunities, including by adding clean energy generation to its fleet through uprates, repowering wind assets, license extensions and asset acquisitions while also returning capital to shareholders. The PTC provides revenue visibility and also preserves Constellation’s ability to capture upside from tightening power market conditions.
Long-term base EPS growth of at least 10%: Constellation is targeting long-term base earnings per share (EPS) growth of at least 10% through the decade backstopped by the nuclear production tax credit in the Inflation Reduction Act (IRA) and effective deployment of our strong free cash flow generation.
Base earnings, a significant component of total Adjusted (Non-GAAP) Operating Earnings, are consistent, visible earnings that will grow over time and can be modeled using simple price times quantity calculations, such as expected generation volumes times price or customer margins times volumes. The company has opportunities to grow base earnings faster by monetizing the value of the reliable, carbon-free nuclear power generated at its Clean Energy Centers through hourly carbon-free matching solutions, behind-the-meter opportunities like data centers or hydrogen, government clean energy procurements or higher market prices.
Constellation's Assets Are Unmatched
Growth fueled by customer demand: With a customer-facing business that serves three fourths of Fortune 100 companies and 21% of the competitive C&I market, Constellation is well positioned to meet the growing needs of digital infrastructure and other essential industries looking for reliable, carbon-free electricity to power economic growth. U.S. electricity demand is expected to grow twice as fast through 2030 compared with the past decade, while at the same time the grid is growing more dependent on intermittent resources. Major tech companies alone are expected to make significant investments to expand our nation’s digital infrastructure over the next five years, with data centers growing from 2% to 7.5% of U.S. electricity demand by 2030. The nation’s top technology firms have set goals to power this growth with clean and dependable energy. Growing recognition of nuclear energy as a reliable clean energy resource creates opportunities for Constellation to forge new customer relationships and capture additional value from our 180 million MWh of annual clean energy output.
World-class operations are a competitive advantage: Constellation is ranked No. 1 in operational metrics among major nuclear operators, with our clean-energy fleet avoiding the equivalent of 251 million metric tons of carbon dioxide pollution over the past two years. The company’s nuclear fleet achieved a 94.6% capacity factor from 2022-2023, approximately 4% above recent industry average. That additional output compared with industry peers is the equivalent of having another reactor’s worth of power or $335 million in additional annual revenue (pre-tax).
Returning value to shareholders: Constellation announced plans to grow its dividend per share by 25% this year, exceeding the company’s dividend growth target of at least 10% annually. This brings the total dividend increase to 150% in two years. The company completed its first $1 billion stock repurchase plan last year, and in December the board approved an additional $1 billion repurchase with $150 million already executed.
Dividend Declaration: Our Board of Directors has declared a quarterly dividend of $0.3525 per share on our common stock. The dividend is payable on Tuesday, March 19, 2024, to shareholders of record as of 5 p.m. Eastern time on Friday, March 8, 2024.
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>>> Constellation Remains No. 1 Producer of Carbon-Free Energy, New Report Confirms
Business Wire
November 15, 2023
https://finance.yahoo.com/news/constellation-remains-no-1-producer-150000901.html
Annual air emissions report also confirms Constellation’s rate of carbon dioxide emissions is more than four-and-half times lower than that of its next closest peer
BALTIMORE, November 15, 2023--(BUSINESS WIRE)--For the 10th consecutive year, Constellation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and boasts the lowest rate of carbon dioxide emissions among the 20 largest private, investor-owned power producers in the United States, according to an independent analysis based on publicly reported 2021 air emissions data.
With more than 23,000 megawatts of clean generating capacity, Constellation’s fleet of nuclear, solar, wind and hydro plants produce about 10% of the nation’s carbon-free energy.
Released today, the annual Benchmarking Air Emissions of the 100 Largest Electric Power Producers in the United States report showed that the next cleanest company among the group of 20 had more than four-and-a-half times the rate of carbon dioxide emissions (lbCO2e/MWh) as Constellation. With more than 23,000 megawatts of clean generating capacity, Constellation’s fleet of nuclear, solar, wind and hydro plants produce about 10% of the nation’s carbon-free energy. Nearly 90% of Constellation’s annual energy output comes from carbon-free sources and the company has set a goal to produce 95% carbon-free electricity by 2030 and 100% by 2040.
"After this year of record-shattering weather, it is clear that all industries must move faster to reduce emissions and lay the foundation for our clean energy future," said Joe Dominguez, president and CEO of Constellation. "As we transition to a clean grid, we must ensure the lights stay on in every hour of every day, and nuclear energy is the only clean energy resource that can operate around the clock in all weather extremes. Backed by the unmatched reliability of our nuclear fleet, we are continuously seeking ways to increase our clean generation capacity, while helping customers achieve their own sustainability goals through innovations such as clean hydrogen and hourly carbon-free energy matching."
The emissions report benchmarks key air pollutant emissions -- including nitrogen oxide, sulfur dioxide, carbon dioxide and mercury -- from the 100 largest U.S. power producers. It relies upon publicly reported generation and emissions data from the U.S. Energy Information Administration and the U.S. Environmental Protection Agency and has established a clear record of the sector’s environmental performance.
Per the report, zero-carbon resources were the leading source of power generation in the United States in 2022, providing approximately 41% of the nation’s electricity. Nuclear energy led the way, comprising 44% of that total and 18% of all U.S. generation.
Constellation is investing billions of dollars in projects to lower emissions across the company and for its customers:
Last month, the MachH2 clean hydrogen hub, of which Constellation is a major participant, was selected for up to $1 billion in funding by the Department of Energy as part of the bipartisan Infrastructure Investment and Jobs Act. Constellation will use a portion of the hub funding to build the world’s largest nuclear-powered clean hydrogen production facility at its LaSalle Clean Energy Center in Illinois. The project will produce an estimated 33,450 tons of clean hydrogen each year with the goal of lowering emissions for difficult-to-decarbonize industries such as agriculture and transportation.
This year, Constellation announced plans to invest $800 million in new equipment to increase the capacity of its Braidwood and Byron nuclear plants in Illinois. The company also launched a $350 million wind repowering effort to increase the output and lifespan of its renewable energy portfolio.
Constellation also has introduced an hourly carbon-free energy matching product to help customers like Microsoft and ComEd power their operations with carbon-free energy produced at the same time and place it is consumed.
Last month, Constellation acquired a 44% ownership stake in the South Texas Electric Generating Station (STP), a 2,645-megawatt, dual-unit nuclear plant located about 90 miles southwest of Houston. One of the newest and largest plants in the U.S., STP generates enough carbon-free power for two million average homes.
In May, Constellation achieved an industry record for blending high concentrations of hydrogen with natural gas, further proof that hydrogen can be an effective tool to lower greenhouse gas emissions. The test at Constellation’s Hillabee Generating Station showed that with only minor modifications, a 13-year-old existing natural gas plant can safely operate on a blend of 38% hydrogen, nearly doubling the previous blending record for similar generators.
Learn more about Constellation’s efforts to accelerate the transition to a carbon-free future, mitigate the climate crisis and support energy equity and environmental justice in our 2023 Sustainability Report.
About Constellation
A Fortune 200 company headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90% carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 16 million homes, providing about 10% of the nation’s clean energy. We are further accelerating the nation’s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100% carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy.
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>>> Vernova / General Electric Co (NYSE:GE)
https://www.insidermonkey.com/blog/5-best-wind-power-and-solar-stocks-to-buy-3-1262185/5/
Number of Hedge Fund Investors: 92
With a gigantic green energy arm Vernova, General Electric Co (NYSE:GE) is among the top favorite wind power and solar stocks to buy according to hedge funds. General Electric Co (NYSE:GE) plans to spin off its Vernova unit by April 2024 after which Vernova would be a publicly traded company. Vernova has 55,000 wind turbines and 7,000 gas turbines. General Electric Co (NYSE:GE) says its technology helps generate a whopping 30% of the world’s electricity.
A total of 92 hedge funds tracked by Insider Monkey had stakes in General Electric Co (NYSE:GE) as of the end of the fourth quarter of 2023.
Longleaf Partners Fund stated the following regarding General Electric Company (NYSE:GE) in its fourth quarter 2023 investor letter:
“General Electric Company (NYSE:GE) – Industrial conglomerate General Electric (GE) was the top performer for the year. We exited this multi-year investment as its price went above our appraisal. In 1Q23, GE spun out GE Healthcare, which we sold as it traded at our value. The share price continued its strong performance throughout the spring and summer, and we ultimately sold the position in the third quarter when we no longer saw a margin of safety for the business. CEO Larry Culp was a great partner who created significant value for shareholders by reducing leverage, cutting costs, streamlining operations, improving company culture and simplifying the structure with plans to split the company into three businesses. We hope to have the opportunity to partner with him again in the future.”
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>>> NextEra Energy Inc (NYSE:NEE)
https://www.insidermonkey.com/blog/5-best-wind-power-and-solar-stocks-to-buy-3-1262185/3/
Number of Hedge Fund Investors: 65
NextEra Energy Inc (NYSE:NEE) produces electricity through wind, solar, nuclear, natural gas, and other clean energy. The stock is making waves after it recently upped its dividend by 10.2%. With close to three decades of consistent dividend increases and a healthy yield of over 3.5%, it is one of the top favorite wind and solar stocks among hedge funds.
A total of 65 hedge funds tracked by Insider Monkey had stakes in NextEra Energy Inc (NYSE:NEE) as of the end of the fourth quarter of 2023.
ClearBridge All Cap Value Strategy made the following comment about NextEra Energy, Inc. (NYSE:NEE) in its Q3 2023 investor letter:
“Many businesses are threatened by a higher cost of capital, but one where reality has set in, and which also touches many other growth areas of the market, is the utility company NextEra Energy, Inc. (NYSE:NEE). Over the past few years, the company developed into a growth darling thanks to its strong track record in renewable energy development and tailwinds from the global energy transition and incentives in the Inflation Reduction Act. The problem for NextEra, and the transition broadly, is that this transformation is immensely capital intensive and many renewables projects offer lower returns on that capital. This requires high capital expenditures – often resulting in negative free cash flow – to meet the growth and financing needs of companies like NextEra. To help, the company leaned on financial engineering by using a publicly traded limited partnership called NextEra Energy Partners, providing further capacity for its parent to continue its development plans. NEP used layers of its own financial engineering to fund its own negative free cash flow and a large, growing dividend yield that we believe it could not sustain organically. Ultimately, the higher cost of debt from rising rates led NEP to lower its own growth ambitions, driving concerns about whether NextEra can execute on its extensive backlog. As a result, the stock has declined by approximately 30% year to date.”
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>>> Constellation Energy Corp (NASDAQ:CEG)
https://www.insidermonkey.com/blog/5-best-wind-power-and-solar-stocks-to-buy-3-1262185/2/
Number of Hedge Fund Investors: 41
Constellation Energy has several renewable energy projects under its belt. The company operates 27 wind projects across 10 states with a production capacity of 1,400 megawatts of electricity.
As of the end of the fourth quarter of 2023, 41 hedge funds tracked by Insider Monkey had stakes in Constellation Energy.
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>>> Constellation Energy Corporation (CEG) generates and sells electricity in the United States. It operates through five segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. The company sells natural gas, energy-related products, and sustainable solutions. It has approximately 33,094 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets. It serves distribution utilities; municipalities; cooperatives; and commercial, industrial, governmental, and residential customers. The company was incorporated in 2021 and is headquartered in Baltimore, Maryland. <<<
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>>> Nextracker Inc (NASDAQ:NXT)
https://finance.yahoo.com/news/12-best-wind-power-solar-162031158.html
Number of Hedge Fund Investors: 33
Nextracker Inc (NASDAQ:NXT) provides integrated solar tracker and software solutions used in utility-scale and ground-mounted solar projects.
Insider Monkey's database of 933 hedge funds updated for the fourth quarter of 2023 shows that 33 hedge funds had stakes in Nextracker Inc (NASDAQ:NXT).
Last month Nextracker Inc (NASDAQ:NXT) posted solid Q4 results and upped its guidance. Adjusted EPS in the period came in at $0.96, beating estimates by $0.47. Revenue in the quarter jumped 38.4% year over year to $710.43 million, beating estimates by $92.94 million.
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>>> Nextracker Inc. (NXT), an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain. It also provides monitoring and control software solutions including TrueCapture, a solar boosting power plant, which boost plant performance by correcting for shading and diffuse light conditions; and NX Navigator, a mitigating extreme weather risk navigator which helps to maintain optimum tracker equipment health and availability. The company was founded in 2013 and is headquartered in Fremont, California. <<<
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>>> Enphase Energy Inc (NASDAQ:ENPH)
https://finance.yahoo.com/news/12-best-wind-power-solar-162031158.html
Number of Hedge Fund Investors: 43
Enphase Energy Inc (NASDAQ:ENPH) is in the spotlight after Enphase Energy Inc's (NASDAQ:ENPH) CEO Badri Kothandaraman said the company could begin to see a turnaround in business in the second quarter of 2024. Net income of Enphase Energy Inc (NASDAQ:ENPH) fell to $21 million in the fourth quarter of 2024 from $154 million in the same quarter last year. Here are the comments of the CEO that are causing a renewed hope in the solar sector and lifting many solar stocks:
"We think Q1 could be the bottom quarter. Europe is already showing early signs of recovery, and we expect the non-California states to bounce back quickly.
California is the exception as NEM 3.0 is having some hiccups in the near-term. However, we remain very bullish about NEM 3.0 in the long-term. The payback is very attractive for solar plus storage. The utility rates are going up steeply on an annual basis, and the sales teams are learning fast. We see that the demand is going to eventually bounce back up in California as well. I’ll wrap up outlining our approach during these times. We are laser focused on ease of doing business on both high quality and great customer service. We are doubling down on operational excellence, correcting the channel and factory inventory concentrating on sell-through and installer count reducing our expenses and product costs and maintaining healthy gross margins.
We are getting many new products out and diversifying our portfolio rapidly. We are expanding worldwide with full systems comprising of IQ8 microinverters, IQ batteries, EV chargers and energy management software. We are introducing products with the small commercial solar markets worldwide and making continuous enhancements to our installer platform. In addition, we are innovating on GaN-based IQ9 and 10 microinverters, along with bidirectional EV chargers, our fourth and fifth generation IQ battery and AI-based energy management software to position us well for the long-term."
Read the entire Q4 earnings call transcript here.
In addition to Tesla, Inc. (NASDAQ:TSLA), NextEra Energy Inc (NYSE:NEE) and General Electric Co (NYSE:GE), Enphase is a top renewable energy stock according to hedge funds.
ClearBridge Sustainability Leaders Strategy made the following comment about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q3 2023 investor letter:
“Against this backdrop the Strategy underperformed, with the majority of detractors renewable- or utility-related companies suffering largely from cyclical interest rate pressures that have pushed up financing costs for the companies and weighed on income-producing sectors such as utilities. Most acutely, higher interest rates have dampened near-term U.S. residential solar demand, hurting Enphase Energy, Inc. (NASDAQ:ENPH) in particular. As a result, we sold Enphase, and invested proceeds into SolarEdge Technologies, which has greater exposure to European and utility-scale end markets, which are under comparatively less pressure.”
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The insanity of 'Carbon Capture' -
>>> This Could Be Warren Buffett's Shrewdest Big Bet Since Making Billions on Apple
by Keith Speights
Motley Fool
February 25, 2024
https://finance.yahoo.com/news/could-warren-buffetts-shrewdest-big-105000230.html
Warren Buffett raised some eyebrows with Berkshire Hathaway's sale of 10 million shares of Apple in the fourth quarter of 2023. I wouldn't read too much into the move, though.
Apple remains by far the largest holding in Berkshire's portfolio. Buffett also almost certainly remains a fan of the company. Less than one year ago, he told Berkshire shareholders that Apple was "a better business than any we own."
Investing in Apple has proven to be a smart decision for Buffett. Since he first bought shares of the tech giant in the first quarter of 2016, Apple's market cap has increased by close to $2.2 trillion.
But now Buffett is aggressively buying another stock. And it could be his shrewdest big bet since making billions of dollars on Apple.
Buffett's big zig
As far as I know, Buffett has never uttered the phrase, "Zig when others zag." However, his famous statement about being "fearful when others are greedy, and greedy when others are fearful" expresses a similar sentiment. The legendary investor is practicing what he preaches with what I'd call a pretty big zig -- buying shares of Occidental Petroleum (NYSE: OXY) hand over fist.
The conventional wisdom is that the demand for fossil fuels will decline, with renewable energy stepping up to take their place. This view could appear to make sense, with countries and corporations around the world setting ambitious goals for reducing carbon emissions. Investing in an oil stock such as Occidental might seem ill-advised in light of the changing dynamics in the energy sector.
Buffett disagrees. He told CNBC in April 2023 that more oil will be produced five years from now than is produced now -- or at least "about the same amount." The Berkshire Hathaway CEO is wagering a lot of money on the proposition that he'll be proven right.
Berkshire now owns a stake in Occidental Petroleum that's worth close to $14.9 billion. Occidental ranks as the sixth-largest position in Berkshire's portfolio (trailing behind another oil and gas producer, Chevron, by the way.)
Occidental's lottery ticket
I suspect that Buffett has never bought a lottery ticket in his life. At Berkshire Hathaway's 2016 shareholder meeting, he referred to buying lottery tickers as "mathematically unsound." But I think that his investment in Occidental comes with something like a lottery ticket, albeit one with arguably much better odds than the Powerball.
Occidental is betting heavily on direct air capture (DAC). What is DAC? In a nutshell, the technology aims to suck carbon dioxide out of the air. The CO2 is then stored underground.
In August 2023, Occidental announced the acquisition of Carbon Engineering for $1.1 billion, a leader in developing DAC technology. The company is also constructing the billion-dollar Stratos plant in the middle of oil fields in West Texas. Once Stratos is operational, it will be the biggest DAC facility ever by a factor of 100x.
Carbon capture could present a massive opportunity. ExxonMobil estimates that it could be a $4 trillion market by 2050. Occidental CEO Vicki Hollub believes DAC, in particular, could give new life to the oil and gas industry. She told National Public Radio in December 2023 that "there's no reason not to produce oil and gas forever" if her vision of DAC is achieved.
Buffett's on board
Buffett appears to be fully on board with Occidental's DAC focus. He praised Hollub in his interview with CNBC last year, saying that she is "extremely competent" and "understands oil" as well as "political realities."
His aggressive buying of Occidental stock will likely continue. Berkshire won regulatory approval in August 2022 to purchase up to 50% of the oil company; its stake currently stands at a little over 28%.
Will Buffett ever like Occidental as much as he does Apple? Probably not. However, his investment in Oxy just might be the Oracle of Omaha's best major bet since initiating a position in Apple eight years ago.
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>>> First Solar stock jumps on earnings beat, strong demand
Yahoo Finance
by Ines Ferré
February 28, 2024
https://finance.yahoo.com/news/first-solar-stock-jumps-on-earnings-beat-strong-demand-164400859.html
The solar industry has struggled this past year amid a pileup of panels and higher interest rates. Yet one outlier has been First Solar (FSLR), the largest US solar module manufacturer.
Shares of the Tempe, Ariz.-based company jumped 6% on Wednesday after posting better-than-expected quarterly earnings and upbeat guidance. The company expects revenue this year to come in between $4.4 billion and $4.6 billion versus analysts' expectations of $4.53 billion.
"Despite industry macro challenges, such as global oversupply and pricing volatility, we continue to see strong mid- to long-term demand, especially in the United States," First Solar CEO Mark Widmar said during the company's earnings call.
The manufacturer caters to the utility sector with customers like NextEra Energy (NEE) and LightSource BP. Those types of contracts typically involve longer lead times than solar peers' residential or commercial agreements.
"Our current backlog, cumulatively oversold through 2026 and with bookings extending to the end of the decade, provides us with optionality in periods of pricing and policy uncertainty," First Solar CFO Alex Bradley said during the call.
"Put simply, if we did not book any more deals by the end of the year, we would remain sold out two years forward through 2025 and 2026," he added.
First Solar has been a major beneficiary of the Inflation Reduction Act, which allows domestic solar manufacturers to sell tax credits to other firms. Last year the company agreed to sell $687 million in tax credits to fintech company Fiserv (FI).
Wall Street analysts are bullish on the stock, with 25 Buy and 7 Hold recommendations. Still, First Solar shares have been dragged down 12% year to date amid an overall sector slump.
Last week, SolarEdge (SEDG) stock sank after the maker of inverters, which convert the energy generated by solar panels, posted weaker-than-expected revenue guidance for the current quarter due to a slowdown in residential demand and increasing inventories. CEO Zvi Lando said during the company's fourth quarter earnings call that he didn't expect significant changes to the market until interest rates decline.
Higher interest rates are impacting the renewable sector because clean energy projects are capital intensive. Installation loans are also more expensive.
To make matters worse, falling valuations are making it harder for companies to tap into public markets to fund their projects.
The Invesco Solar ETF (TAN) is down 18% since the start of the year as headwinds continue across the industry.
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>>> Renewable energy stocks plunge as going green gets 'expensive'
Yahoo Finance
by Ines Ferré
October 8, 2023
https://finance.yahoo.com/news/renewable-energy-stocks-plunge-as-going-green-gets-expensive-160030279.html
Renewable stocks are taking an outsized beating among other stocks in the utility sector, which was down more than 10% last quarter.
Investors may be betting that going green will take longer and require more capital in a higher-for-longer interest rate environment.
“As utilities struggle with converting to more green energy, their operating margins are getting squeezed until they can get their utility rates increased,” Louis Navellier, founder of Navellier, a money management firm, told Yahoo Finance.
Higher interest rates are impacting the renewable sector because clean energy projects are capital intensive.
To make matters worse, falling valuations are making it harder for companies to tap into public markets to fund their projects. Also, bonds offering higher yields are competing against dividend yields on utility stocks.
“There is an exodus from ESG products that are suffering from outflows,” said Navellier.
The Global Clean Energy ETF (ICLN) is down about 30% year to date. The solar and wind energy benchmarks Invesco Solar ETF (TAN) and First Trust Global Wind Energy ETF (FAN) are down 35% and 32% during the same period, respectively.
The selling in renewables intensified after NextEra Energy Partners (NEP), a subsidiary of NextEra Energy (NEE) focused on renewables, cut its growth target by half to 6% through at least 2026.
"Tighter monetary policy and higher interest rates obviously affect the financing needed to grow distributions at 12%," read the company statement on Sept. 27.
NextEra Energy Partners is down 69.27% year to date, on pace for its worst year on record, while its parent company NextEra Energy hit a 52-week low on Friday, down 42% year to date.
Bank of America analysts called the recent sell-off "overblown with collateral damage unfounded."
"Rates have indeed moved higher through the same period and utilities and renewables are rates sensitive," wrote Julien Dumoulin-Smith and Paul Zimbardo in a note to clients.
They continued that "the collapse in confidence in NextEra - the world's largest renewable developer - has precipitated a draconian view for the outlook of renewables as an asset class, and the associated returns."
Some of the biggest solar companies initially rallied after Russia invaded Ukraine in late February 2022 and oil prices spiked. The invasion hastened investments in a push towards green technologies in both Europe and the US as crude and natural gas became more expensive and governments saw a need to rely on other sources of energy.
The Inflation Reduction Act, or IRA, of 2022 was also seen as a boon for renewable energy companies, making clean energy stocks the clear winners of the legislation passed in August 2022. The IRA focuses on tax credits for companies to manufacture items like solar panels and wind turbine parts in the United States. The measure also offers credits of up to $7,500 for electric vehicles assembled domestically.
But some of the federal and local government's recent green initiatives are facing challenges, or scaling back.
Earlier this year policy changes went into effect in California, the largest US solar market. The new measures reduced the money credited to rooftop solar panel owners for sending excess power they generate into the grid.
Analysts note California’s so-called net metering reform has created headwinds for companies like Enphase Energy (ENPH). In April, the solar inverter maker's stock fell 25% in one day following disappointing second quarter revenue guidance amid concerns of slowing demand.
In July the stock took another hit of 11% in one day after Enphase Energy's third quarter guidance came in weaker than expected.
"Our microinverter sell-through in the US peaked in the fourth quarter of 2022," Badri Kothandaraman, CEO of Enphase, said during the company's earnings call. "The sell-through in the first half of 2023, in both Q1 and Q2, was approximately 20% below the fourth quarter due to the high interest rate environment in the US."
The delay of offshore wind farms in the Northeast is seen as another setback for the renewable industry. Six Democratic governors recently sent a letter to the Biden Administration asking for more federal help with the planned projects after wind developers asked to renegotiate contracts amid rising costs, dwindling supply chain issues, and tighter credit.
“Absent intervention, these near-term projects are increasingly at risk of failing,” the governors wrote. “Without federal action, offshore wind deployment in the US is at serious risk of stalling because states’ ratepayers may be unable to absorb these significant new costs alone.”
The governors are asking for the Biden Administration to ensure offshore wind projects are fully eligible for federal clean energy tax credits under the Inflation Reduction Act. They also want the government to expedite clean energy permitting.
“The bottom line is it is expensive to go green,” said the strategist Navellier.
Having said that, as a sector "utility stocks grossly oversold," he said. “We will sort this out during the Q3 earnings announcement season.”
Renewable energy stocks may have gotten so cheap, analysts at BofA say, it may be time to buy.
"We continue to see significant utility scale growth in renewables in the coming years, and do not agree with the collateral damage we saw in the space in the last week; we see particularly attractive buying opportunities," wrote the analysts.
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FSLR, ENPH, CSIQ - >>> 3 Solar Energy Stocks Poised for a Strong Comeback
Investor Place
by Faisal Humayun
Feb 20, 2024
https://finance.yahoo.com/news/3-solar-energy-stocks-poised-180929198.html
Solar energy stocks have been depressed in the last few quarters. This has translated into several stocks trading at a valuation gap. I believe that the correction presents a good buying opportunity with some of the best solar energy stocks poised for a strong comeback.
An important reason for weak numbers from solar companies is macroeconomic headwinds in the U.S. and Europe. Further, with high interest rates, demand for solar projects from retail consumers has been sluggish. However, the key point is that these are near term headwinds.
The long-term outlook for growth in the solar energy sector remains positive. According to the International Energy Agency, approximately 100 million people will rely on rooftop solar energy by 2030. It’s also being estimated and wind and solar will produce over a third of global power by 2030.
Therefore, the current correction in solar energy stocks is a golden opportunity to accumulate. Let’s discuss some of the best stocks to buy for a strong comeback.
Canadian Solar (CSIQ)
From a valuation perspective, Canadian Solar (NASDAQ:CSIQ) is among the most attractive solar energy stocks to buy. At a forward price-to-earnings ratio of 5.7, CSIQ stock seems poised for a big reversal rally.
For Q3 2023, Canadian Solar reported a 39% year-on-year growth in shipments to 8.3GW. However, total revenue declined by 4% to $1.8 billion. It’s worth noting that the company’s subsidiary, Recurrent Energy, is likely to be a key growth driver.
As of Q3, the subsidiary reported a solar development pipeline of 26 GW and battery storage development pipeline of 55 GWh. In January, Recurrent Energy announced a $500 million preferred equity investment commitment from BlackRock. These funds will be utilized towards the high value project development pipeline.
I also like the fact that Canadian Solar has strong global presence in 25 countries. Further, revenue from Asia (excluding China) is just 11% of total revenue. There is ample scope for growth in emerging markets.
First Solar (FSLR)
In the last 12 months, First Solar (NASDAQ:FSLR) stock has remained sideways. As positive business developments continue, I expect a big breakout rally. It’s worth noting that FSLR stock trades at an attractive forward price-to-earnings ratio of 20.1.
An important point to note is that First Solar has cumulatively invested $1.5 billion in research and development. The company claims to be the global leader in thin film PV. Backed by the CadTel PV technology, First Solar’s order book has been swelling.
For Q3 2023, First Solar reported a total booking backlog of 81.8GW through 2030. Further, the company has potential booking opportunities of 65.9GW. With healthy order intake, the revenue visibility remains robust.
The company is investing in multiple factories that will enable it to service the backlog. First Solar has guided for a global annual nameplate manufacturing capacity of over 21 gigawatts (GW) by 2026. With investment in innovation coupled with manufacturing expansion, the is positive for this solar energy stock.
Enphase Energy (ENPH)
There seems to be signs of Enphase Energy (NASDAQ:ENPH) stock bottoming out. In the last six months, the stock has remained sideways. However, it’s likely that the stock will trend higher after an extended bearish price action.
As an overview, Enphase is a provider of microinverter-based solar-plus-storage systems. The company has already shipped 73 million microinverters globally. The IQ8 is the world’s first grid-forming microinverter for the residential markets.
The company has also launched an IQ EV charger that integrates into Enphase’s solar and battery system. With innovative products and over 400 patents globally, Enphase is positioned for sustained growth. The company believes that the serviceable addressable market is likely to be $23 billion by 2025, which provides ample headroom for growth.
It’s worth noting that as of Q4 2023, Enphase reported $1.7 billion in cash and equivalents. Further, the company reported operating cash flow of $697 million for 2023. Financial flexibility is therefore high for investment in expansion and R&D.
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>>> NextEra Energy is a growth and income gem
https://finance.yahoo.com/news/3-utility-stocks-buy-hand-101100971.html
NextEra Energy's 3.7% dividend yield is modest compared to the other two utilities on this list. In fact, it is only 10 basis points above the average of the broader utility sector. But the yield is near a 10-year high for NextEra Energy, suggesting the stock is cheap today.
However, the real linchpin in the story is the average annualized dividend growth of around 10% over the past decade, extremely high by utility standards. Management expects to raise the dividend by that much again in 2024.
The story here comes in two parts. First, NextEra Energy owns the largest utility in Florida, which is a state with a growing population. That's the solid foundation. On top of that, NextEra Energy owns one of the world's largest portfolios of solar and wind power assets. This is a growth business, with management hoping to double its clean energy capacity by 2026.
The combination of these two businesses is expected to produce earnings growth of between 6% and 8% a year through 2026. Even if dividend growth only tracks along with earnings growth after 2024, that's still a great outcome for a growth- and income-oriented utility. Investors should look at this stock, which has increased its dividend annually for nearly three decades and is still on sale.
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>>> Hyliion Holdings Reports Fourth-Quarter and Full-Year 2023 Financial Results
Business Wire
Feb 13, 2024
https://finance.yahoo.com/news/hyliion-holdings-reports-fourth-quarter-213000641.html
AUSTIN, Texas, February 13, 2024--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) ("Hyliion"), a developer of sustainable electricity-producing technology, today reported its fourth-quarter and full-year 2023 financial results.
Key Business Highlights
Announced today, the KARNOTM generator is expected to qualify for up to a 40% tax credit under the Inflation Reduction Act’s Infrastructure Tax Credit (ITC)
Announced today, Detmar Logistics executed a letter of intent for an initial KARNO unit to be deployed in the Permian Basin to operate on waste flare gas
Executed a letter of intent to provide KARNO generators to GTL Leasing
Confirmed plans to deliver initial KARNO generator units to customers in late 2024
Began printing production-intent design components of the KARNO generator
Successfully tested KARNO reactor technology on unprocessed Permian Basin gas; results surpassed emissions standards by 98% for CO and 76% for NOx
Appointed Govindaraj Ramasamy as Chief Commercial Officer
Announced $20 million Stock Repurchase Program
Ended the year with $291 million of total cash and investments
Guidance of $40 to $50 million cash expenditures for KARNO development in 2024
Executive Commentary
"I’m pleased to report that the company’s strategic shift to wind down powertrain operations and focus on our KARNO generator is on track, with significant achievements made in advancing our generator technology and engaging prospective customers during the quarter," said Hyliion’s Founder and CEO, Thomas Healy. "We expect to deliver the initial KARNO generator deployment units with customers late in 2024 followed by a ramp-up in production and additional deliveries in 2025."
KARNO Commercial Updates
Today, the company announced that, under the Inflation Reduction Act, the KARNO generator is expected to be characterized the same as a fuel cell, enabling customers to qualify for up to a 40% tax credit under the current ITC.
Hyliion is addressing the commercial power market first with a locally-deployable 200kW generating system which it intends to deliver to initial deployment customers in late 2024. To lead these efforts, Hyliion recently hired former Cummins powergen executive, Govi Ramasamy, as Chief Commercial Officer.
Hyliion also announced today that Detmar Logistics has executed a non-binding letter of intent for a KARNO generator and to be part of Hyliion’s early adopter program. Detmar, who supplied Hyliion with test gas from the Permian Basin, intends to operate their unit on waste flare gas to produce electricity at oil & gas sites, without the need for pre-treating the gas.
In addition to Detmar, Hyliion also announced a non-binding letter of intent with GTL Leasing to deliver two KARNO generators for their portable electric vehicle recharging business. Other customers’ letters of intent are in place or being finalized to represent the remaining planned deployments in 2024 and initial deliveries in 2025. Hyliion plans for initial deployments to represent a broad range of applications, including vehicle charging, waste gas fuel sourcing, and prime power generation.
KARNO Generator Development
Hyliion is developing a revolutionary new electrical generator powered by a linear heat motor that is expected to deliver step-change improvements in performance characteristics compared to conventional generating systems, including efficiency, emissions, maintenance requirements, noise levels and fuel flexibility. The KARNO generator is enabled by the latest advances in additive manufacturing technology. Hyliion hosted a Technology Fireside Chat in December 2023 during which Thomas Healy and Josh Mook, Chief Technology Officer, explained the capabilities and advantages of the generator.
Recent technological advancements include beginning to print production-intent design parts of the BETA design of the KARNO generator. The BETA generator design will go through validation throughout 2024 and then is expected to be ready for customer deployments later this year.
The company also tested unprocessed flare gas that was collected from the Permian Basin and confirmed the ability for the KARNO reactor to operate on this fuel, showcasing the fuel agnostic characteristics of the generator. Recent test results on this fuel highlight that the KARNO’s flameless oxidation process is expected to surpass current EPA Tier 4 emissions standards by 98% for CO and 76% for NOx with no additional aftertreatment or catalyst needed.
Powertrain Wind-Down
In November 2023, Hyliion announced that it was winding down its powertrain business segment to maintain the company’s strong cash position as it furthers development of the KARNO generator technology. The company intends to retain the powertrain technology, enabling it to explore future use or sale of the technology and tangible assets. Most wind-down activities are expected to be completed in the first quarter of 2024 while efforts to monetize powertrain assets and technology continue.
Financial Highlights and Guidance
Fourth quarter operating expenses totaled $32.6 million, compared to $31.6 million in the prior-year quarter as the company initiated powertrain wind-down actions. Fourth quarter expenses include $11.5 million of charges directly related to the wind-down, including employee severance, contract cancellation costs, and accelerated depreciation of assets.
Full-year expenses totaled $136.3 million, compared to $152.4 million for the full year in 2022. Expenses in 2022 include $28.8 million of one-time charges associated with the purchase of KARNO generator technology from GE. Cash expenditures for 2023 were $131 million, including net losses and capital investments. The company ended the year with $291 million in unrestricted cash, and short-term and long-term investments.
For 2024, total cash consumed by the KARNO generator business is expected to be between $40 and $50 million, down compared to $131 million in capital consumed by the company in 2023. This estimate excludes cash payments associated with the stock repurchase program, payments associated with the ongoing wind-down of powertrain operations, and cash generated from the sale of powertrain assets and technology. Hyliion expects to achieve commercialization of the KARNO generator with the capital on hand.
Projections for 2025 include growth of KARNO generator deliveries with proceeds from sales in the low double-digit millions of dollars. The company also projects gross margins to be approximately break-even or slightly negative and cash spending to grow modestly compared to 2024.
About Hyliion
Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide distributed power generators that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, OH, Hyliion is addressing the commercial space first with a locally-deployable generator that can offer prime power, peak shaving, and renewables matching. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine. The KARNO generator is a fuel-agnostic solution, enabled by additive manufacturing, that leverages a linear heat generator architecture. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy.
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>>> Nextracker Inc. (NXT), an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain. It also provides monitoring and control software solutions including TrueCapture, a solar boosting power plant, which boost plant performance by correcting for shading and diffuse light conditions; and NX Navigator, a mitigating extreme weather risk navigator which helps to maintain optimum tracker equipment health and availability. The company was founded in 2013 and is headquartered in Fremont, California.
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>>> First Solar, Inc. (FSLR) provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners. The company was formerly known as First Solar Holdings, Inc. and changed its name to First Solar, Inc. in 2006. First Solar, Inc. was founded in 1999 and is headquartered in Tempe, Arizona.
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>>> Enphase Energy, Inc. (ENPH), together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control. It also provides microinverter units and related accessories, an IQ gateway; IQ batteries; the cloud-based Enlighten monitoring service; storage solutions; and electric vehicle charging solutions, as well as design, proposal, permitting, and lead generation services. The company sells its solutions to solar distributors; and directly to large installers, original equipment manufacturers, strategic partners, and homeowners, as well as through its legacy product upgrade program or online store. Enphase Energy, Inc. was incorporated in 2006 and is headquartered in Fremont, California.
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>>> The world’s appetite for solar panels is squeezing silver supply
Bloomberg News
July 3, 2023
https://www.mining.com/web/the-worlds-appetite-for-solar-panels-is-squeezing-silver-supply/
Changes to solar panel technology are accelerating demand for silver, a phenomenon that’s widening a supply deficit for the metal with little additional mine production on the horizon.
Silver, in paste form, provides a conductive layer on the front and the back of silicon solar cells. But the industry is now beginning to make more efficient versions of cells that use a lot more of the metal, which is set to boost already-increasing consumption.
Solar is still a fairly small part of overall silver demand, but it’s growing. It’s forecast to make up 14% of consumption this year, up from around 5% in 2014, according to a report from The Silver Institute, an industry association. Much of the growth is coming from China, which is on track to install more panels this year than the entire total in the US.
Solar is a “great example of how inelastic demand for silver is,” said Gregor Gregersen, founder of Singapore-based dealer Silver Bullion. The solar industry has evolved to become much more efficient with using smaller amounts of silver, but that’s now changing, he said.
The standard passivated emitter and rear contact cell will likely be overtaken in the next two to three years by tunnel oxide passivated contact and heterojunction structures, according to BloombergNEF. While PERC cells need about 10 milligrams of silver per watt, TOPCon cells require 13 milligrams and heterojunction 22 milligrams.
At the same time, supply is starting to look tight. It was flat last year, even as demand rose by nearly a fifth, figures from The Silver Institute show. This year, production is forecast to increase by 2% while industrial consumption climbs 4%.
The trouble for silver buyers is that cranking up supply is far from easy, given the rarity of primary mines. About 80% of supply of the metal comes from lead, zinc, copper and gold projects, with silver a by-product.
And in an environment where miners are already reluctant to commit to large new projects, lower margins in silver compared with other precious and industrial metals mean positive price signals aren’t enough to crank up output. Even newly approved projects could be a decade away from production.
The result is a strain on supply so significant that a study from the University of New South Wales forecasts the solar sector could exhaust between 85–98% of global silver reserves by 2050. The volumes of silver used per cell will increase and it could take about five to 10 years to bring them back to current levels, according to Brett Hallam, one of the authors of the paper.
Chinese solar companies, however, are actively exploring using cheaper alternatives like electroplated copper, though so far results have been mixed. Technologies that use cheaper metals are now sufficiently advanced, and will soon be put into mass production once silver prices surge, according to Zhong Baoshen, chairman of Longi Green Energy Technology Co., the world’s biggest panel manufacturer.
Silver is currently trading at about $22.70 an ounce. It’s dropped around 5% this year, but is well above where it was before surging in 2020 as the pandemic buoyed demand.
“Substitution will look more interesting when silver’s at say $30 an ounce as opposed to $22 to $23,” said Philip Klapwijk, managing director of Hong Kong-based consultant Precious Metals Insights Ltd. and one of the authors of the silver institute report. There won’t be a “doomsday scenario” where we run out of silver, but “the market will restore an equilibrium at a higher price,” he said.
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NextEra Energy - >>> 2 No-Brainer Utility Stocks to Buy With $500 Right Now
by Reuben Brewer
Motley Fool
February 22, 2024
https://finance.yahoo.com/news/2-no-brainer-utility-stocks-102000724.html
Building and maintaining power plants is expensive, which is why utilities often carry a lot of debt. That's been a problem on Wall Street because investors are worried that the swift rise in interest rates will dent utility earnings. Thus, the utility sector has been out of favor. That's great news for long-term investors, even if all you have to invest is $500, because you can buy great companies at reasonable -- if not cheap -- prices.
The list includes utility giant NextEra Energy (NYSE: NEE) and relatively small Black Hills (NYSE: BKH), which happens to be a Dividend King. Here's what you need to know about these two utility stocks.
NextEra is a 2-in-1 play
The core of NextEra Energy's business is Florida Power & Light, the largest electric utility in the Sunshine State. This has been a very good region in which to operate because of the long-term migration patterns toward warmer climates, which has resulted in an increased customer base. Simply put, more customers means more revenue.
However, the really interesting story here isn't the company's regulated electric utility operations. What sets NextEra apart from its peers is its massive clean energy business, which is among the largest in the world. This has been a long-term growth engine. That shows up most compellingly in the dividend, which has been increased at an annualized rate of 10% for a decade. Half of that rate would be considered very good for a utility. The company expects 10% dividend growth in 2024 and continued solid earnings expansion through at least 2026.
The problem with NextEra is that investors are well aware that its mix of regulated assets and clean energy growth is producing strong results. The shares are usually afforded a premium valuation. But given the rise in interest rates, NextEra's stock has pulled back. The 3.6% dividend yield on offer today is only average for a utility, but it is near the highest levels of the past decade for NextEra Energy. In other words, this strong performer looks like it is on sale.
There's another impressive thing about the $117 billion market cap of NextEra Energy: It has increased its dividend annually for 29 consecutive years.
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>>> Genie Energy Ltd. (GNE), through its subsidiaries, supplies electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, Genie Retail Energy and Genie Renewables. The company also develops, constructs, and operates solar energy projects for commercial and industrial customers, as well as its own portfolio; provides energy advisory and brokerage services; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities. Genie Energy Ltd. was incorporated in 2011 and is headquartered in Newark, New Jersey.
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https://finance.yahoo.com/quote/GNE/profile?p=GNE
>>> Genie Energy Ltd. is an American energy company headquartered in Newark, New Jersey. It is a holding company comprising Genie Retail Energy, Genie Retail Energy International, Genie Energy Services, and Genie Energy Oil and Gas. Michael Stein is the Chief Executive Officer, Genie Energy Ltd.[2]
In 2004, seeking to diversify, IDT Telecom’s Founder, Chairman and CEO, Howard Jonas, launched its first Retail Energy Provider or “REP” and enrolled its first energy supply customers. Then, in October, 2011, Genie Energy Ltd. (NYSE:GNE), was spun-off from IDT Corporation as an independent public company, at which point Class B common stock of Genie Energy Ltd. began trading on the NYSE under the ticker symbol "GNE".
Genie's founder and chairman is Howard Jonas. Michael Stein is the company's Chief Executive Officer of Genie Energy and Chief Executive Officer of Genie Retail Energy. Avi Goldin serves as the company's CFO.
The president of its Israeli subsidiary is Effie Eitam. Genie Energy's Strategic advisory board is composed of: Dick Cheney since 2009 (former vice president of the United States),[3] Rupert Murdoch (media mogul and chairman of News Corp), James Woolsey (former CIA director), Larry Summers (former head of the US Treasury), Bill Richardson (former Governor of New Mexico, ex-ambassador to the United Nations and United States Energy Secretary),[4] Michael Steinhardt, Jacob Rothschild,[5][4] and Mary Landrieu, former United States Senator from Louisiana.
In 2013, IDT Energy, Inc., a subsidiary of Genie Energy, acquired both Dallas-based Diversegy, LLC a commercial energy advisory and its network marketing channel, Epiq Energy. They are now wholly owned subsidiaries of Genie Energy Ltd.[6]
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https://en.wikipedia.org/wiki/Genie_Energy
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If the BYD goes for $11 K, that would be less than 1/2 of what a Corolla cost several years ago ($22,500 range). Sounds great :o)
In spite of these smaller cars, one area where size keeps increasing is with pick-up trucks. These have gotten crazy big, but most still can't carry a 4' x 8' sheet of drywall -
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Cars in my 76 year lifetime have really been downsized. I look at a Toyota Rav 4 parked in my condo garage as a big car. When they came out, they seemed small compared to the full sized SUV's. Heck, my 76 Pontiac Grand Prix had a front end than was almost as long as the cab and trunk combined. With the added weight of SUV's, my guess they will get smaller and BYD's seem smaller. Can I visualize cars in the futures not much bigger than golf carts?
BYD Seagull>>>>>>>
https://www.bing.com/videos/riverview/relatedvideo?q=BYD%20cars%20are%20smaller&mid=26B29B9A2B2FD6FA5E9026B29B9A2B2FD6FA5E90&ajaxhist=0
>>> 22 countries want to triple nuclear power. Is there enough uranium to go around?
Yahoo Finance
by Ines Ferré
January 28, 2024
https://finance.yahoo.com/news/22-countries-want-to-triple-nuclear-power-is-there-enough-uranium-to-go-around-180010715.html
Uranium has been hot this year, industry experts say. The trouble is there may not be enough to go around.
The squeeze on the metal, found in rocks and seawater, intensified recently after 22 countries, including the US, recently signed a pact at the UN Climate Change conference to triple their nuclear power capacity by 2050.
"There’s no other way to meet those net-zero carbon goals other than nuclear energy," said Nicole Galloway Warland, managing director of Thor Energy (THORF), an exploration company with projects in Utah and Colorado.
The backdrop to all this is, of course, is the march towards cleaner energy. But the rise of EVs and the anticipated power demands of artificial intelligence computing are also going to create a demand crunch for clean electricity — and nuclear is seen as a power source, unlike oil or coal, without the downside of carbon dioxide emissions.
That means the demand for uranium, the underlying fuel for nuclear plants, will be on the rise for years to come, experts and miners contend.
"Where is that uranium going to come from?," asked Galloway Warland. "There’s not enough to go around. There’s a supply deficit."
Earlier this month, the world's largest uranium miner, Kazatomprom (KAP.IL), warned it will likely not meet its production targets in the next two years because of mine construction delays and a lack of sulfuric acid needed for uranium production. Uranium prices shot up to 2007 levels this month, sitting above $106 per pound.
Uranium-related stocks have also been on fire.
Shares of Canadian giant Cameco (CCJ) have gained 83% over the past year. Kazatomprom, which trades on the London stock exchange, is up more than 60% over the past six months. Shares of US-based Energy Fuels (UUUU) are up about 25% during the same period.
'Uranium is becoming a household name'
A psychological shift surrounding nuclear is clearly helping fuel the market frenzy.
Nuclear power has been out of favor for years. But the Fukushima, Japan, nuclear disaster in 2011 prompted governments to scale back plans and shut down reactors. For much of the last decade, little investment went into the industry. Climate change, however, has changed attitudes.
"Nuclear power now has been realized as the new, vogue way of providing all this baseline power," Duane Parnham, executive chairman and CEO of Madison Metals (GREN.CN), told Yahoo Finance.
"Uranium is becoming a household name," he added.
Silicon Valley celeb billionaires, for example, have talked up the benefits of nuclear energy. Last year Sam Altman, the chief executive behind ChatGPT, announced his special purpose acquisition company would take nuclear energy startup Oklo public. And, of course, Tesla (TSLA) CEO Elon Musk weighed in. He tweeted last year that "The world should increase use of nuclear power!"
In the United States, the shortage is complicated by the fact that much of our uranium is imported from Russia. That's prompted the Biden Administration to seek more supply internally, and from US-friendly states such as Canada, the second-largest producer.
"The US has extensive in-ground uranium resources and quite a bit of idled processing capacity. But we have let our industry and infrastructure atrophy over the past few decades, as nuclear utilities bought cheaper uranium from places like Russia and Kazakhstan," Curtis Moore, senior vice president of marketing at Energy Fuels, told Yahoo Finance.
Now the US is playing catch-up. New uranium mines can take five to 15 years from start to finish, including permits, says Thor Energy's Galloway Warland.
"All of a sudden you’ve got no exploration, you’ve got a lot of old mines coming to the end of their life, you've got geopolitical tensions," said Galloway Warland. "We need to have more exploration, we need more mines coming online."
The Inflation Reduction Act (IRA) passed last year includes a tax credit to help preserve the existing fleet of nuclear plants and tax incentives for advanced reactors. But the IRA also earmarked $700 million to support the development of a domestic supply chain for high-assay low-enriched uranium, commonly referred to as HALEU. The funding is intended to help eliminate US dependence on Russia for nuclear fuel supply.
As for investors, the question is always whether a spike in demand is a big yellow caution flag.
Said Curtis of Energy Fuels: "Prices have skyrocketed, but we don’t think it is a bubble, as the price increases are based on real market fundamentals." He added, "We are likely in the beginning of a multiyear period of elevated uranium prices that will persist for several years until large mines around the world can get into production."
However, some industry watchers are more cautious.
"We’re in a little bit in a bubble in the sense that making this commitment to build this capacity is not realistic. It’s aspirational, but not everybody who signs up to this agreement is well situated to make this happen," said Irina Tsukerman, president of market research and geopolitical risk advisory Scarab Rising.
"It’s possible that there could be disruptions to this process of nuclearization in the future. All it takes is one government changing its position and pulling out, and that’s it," she said.
Bubble or no bubble, the US and other countries are going full force into nuclear. Uranium is expected to stay in high demand, at least until supply catches up.
"We’ve got 60 reactors being built around the world. A hundred more being permitted," Dave Nadig, VettaFi financial futurist, recently told Yahoo Finance. "It’s really going to be a boom era."
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>>> TEPCO's operational ban is lifted, putting it one step closer to restarting reactors in Niigata
Associated Press
by MARI YAMAGUCHI
12-27-23
https://www.msn.com/en-us/news/world/tepco-s-operational-ban-is-lifted-putting-it-one-step-closer-to-restarting-reactors-in-niigata/ar-AA1m5dNP?OCID=ansmsnnews11
TOKYO (AP) — Japanese nuclear safety regulators lifted an operational ban Wednesday imposed on a nuclear plant owned by Tokyo Electric Power Company Holdings, the operator behind the Fukushima plant that ended in disaster, allowing the company to resume preparations for restarting the Kashiwazaki-Kariwa plant after more than 10 years.
At its weekly meeting, the Nuclear Regulation Authority formally lifted the more than two-year ban imposed on the TEPCO's Kashiwazaki-Kariwa plant over its lax safety measures at the site, saying a series of inspections and meetings with company officials has shown sufficient improvement. The decision removes an order that prohibited TEPCO from transporting new fuel into the plant or placing it into reactors, a necessary step for restarting Kashiwazaki-Kariwa's reactors.
The plant on Japan's northern coast of Niigata is TEPCO's only workable nuclear power plant since the March 2011 earthquake and tsunami destroyed its Fukushima Daiichi plant and caused Fukushima Daini plant to cease operations. For the company now burdened with the growing cost of decommissioning the Fukushima Daiichi plant and compensating disaster-hit residents, restarting the Kashiwazaki-Kariwa reactors soon is key to stabilizing its business.
TEPCO President Tomoaki Kobayakawa told reporters Wednesday that it was too early to comment on the prospect for the restart. He said the company will provide its safety and security measures to gain understanding from the local residents, who must approve a restart.
The NRA slapped an unprecedented ban on the operator in April 2021 after revelations of a series of sloppy anti-terrorism measures at TEPCO's Kashiwazaki-Kariwa plant, the world's largest nuclear power complex housing seven reactors.
The Kashiwazaki-Kariwa plant was partially damaged in a 2007 earthquake, causing safety concerns and distrust among local municipalities. The March 2011 disaster caused stoppages of all 54 reactors Japan used to have before the Fukushima disaster, and prompted utility operators to shut many of them down due to additional safety costs, bringing the number of usable reactors to 33 today. Twelve reactors have been restarted under tougher safety standards, and the government wants to bring more than 20 others back online — a goal widely considered overly ambitious.
TEPCO was making final preparations to restart the Kashiwazaki-Kariwa plant’s No. 6 and No. 7 reactors after regulators granted safety approvals for them in 2017. But in 2021, regulators gave the plant’s nuclear security a “red” rating, the lowest given to any operator, resulting in the operational ban.
The case raised questions about whether TEPCO learned any lessons from the 2011 Fukushima crisis, which was largely attributed to the utility’s lack of concern about safety.
NRA Chair Shinsuke Yamanaka told Wednesday’s meeting that the lifting of the restrictions is just the beginning, and TEPCO is still required to keep improving its safety precautions.
“TEPCO is a unique company; in a way it had caused the accident," Yamanaka said. “It is the operator's responsibility to keep improving, and our task is to watch if improvement is adequately carried out." He said he hoped TEPCO will be an open and transparent company capable of sufficient communication across the workplace, while also accomplishing Fukushima Daiichi's cleanup.
Before TEPCO can restart the reactors, it needs the consent of nearby residents. Prior to the NRA decision Wednesday, Niigata Gov. Hideyo Hanazumi told reporters that the will of the voters he represents must be taken into consideration.
The Japanese government recently began a push to restart as many reactors as possible to maximize nuclear energy and meet decarbonization targets. Prime Minister Fumio Kishida’s government has reversed Japan’s nuclear energy phaseout plan, instead looking to use atomic power as key energy supply accounting to more than one-fifth of the country’s energy supply.
A restart of Kashiwazaki-Kariwa plant, along with attempts by other utility operators to resume their reactors, would “contribute to Japan's stable energy supply and its pursuit of carbon neutrality,” especially when the energy-scarce country is hit by rising energy costs amid Russia's war on Ukraine, Kobayakawa said. “Of course, safety is the prerequisite.”
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>> TSLA <<
Musk has been under intense criticism ever since he acquired Twitter and ended the censorship of conservatives on the site.. They (Deep State) can no longer allow freedom of speech, but are also reliant upon Musk for his Space-X launch system, so that puts a limit on how much they can coerce him, at least for now.
I remember back in the 1990s when the Internet was just beginning, Bill Gates was reluctant to allow an NSA 'backdoor' in his Windows operating system. So they (Deep State) launched a big anti-trust lawsuit against him, since the Windows Explorer browser had a monopoly. Gates quickly caved and allowed the NSA backdoor. Andy Grove of Intel was more pragmatic, and went along with a microprocessor 'backdoor' without a fight. Others like Google's Page and Brin were Deep State stooges from the start. So one way or another the Deep State always wins, as Musk will discover.
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More on TSLA’s dishonesty (Reuters):
h/t Dew Dilignece
https://www.reuters.com/investigates/special-report/tesla-musk-steering-suspension/
Electric vehicles --> I would never buy one until the battery technology improves A LOT (see video below). I would forget about EVs for now, unless you enjoy getting incinerated in a car fire, or having your house incinerated. The new solid state batteries can fix the fire / explosion problem, but not sure when or if these will be widely adopted -
>>> A solid-state battery has higher energy density than a Li-ion battery that uses liquid electrolyte solution. It doesn’t have a risk of explosion or fire, so there is no need to have components for safety, thus saving more space. Then we have more space to put more active materials which increase battery capacity in the battery. A solid-state battery can increase energy density per unit area since only a small number of batteries are needed. For that reason, a solid-state battery is perfect to make an EV battery system of module and pack, which needs high capacity.
https://www.samsungsdi.com/column/technology/detail/56462.html?listType=gallery#:~:text=A%20solid%2Dstate%20battery%20has,safety%2C%20thus%20saving%20more%20space.
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2024 Buick Electra EV, $60,000 and 300 mile range, they did not offer range info for Minnesota winters.
Impressive photo, but not made for the "Blue" crime infested cities?
No thank you.
https://www.consumerreports.org/cars/hybrids-evs/buick-to-go-all-electric-first-car-launches-in-2024-a1189128319/
Name | Symbol | % Assets |
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Tesla Inc | TSLA | 5.71% |
NIO Inc ADR | NIO | 5.20% |
Digital Realty Trust Inc | DLR | 4.95% |
Vestas Wind Systems A/S | VWS | 4.87% |
Enphase Energy Inc | ENPH | 3.96% |
Central Japan Railway Co | 9022 | 3.94% |
Kingspan Group PLC | KRX.IR | 3.28% |
Li Auto Inc ADR | LI | 3.10% |
XPeng Inc ADR | XPEV | 3.04% |
SolarEdge Technologies Inc | SEDG | 2.78% |
Name | Symbol | % Assets |
---|---|---|
Vestas Wind Systems A/S | VWS | 7.61% |
Orsted A/S | ORSTED | 7.43% |
Enphase Energy Inc | ENPH | 7.12% |
NextEra Energy Inc | NEE | 4.29% |
Xcel Energy Inc | XEL | 4.18% |
Enel SpA | ENEL.MI | 4.02% |
Iberdrola SA | IBE.BC | 3.96% |
Plug Power Inc | PLUG | 3.86% |
SolarEdge Technologies Inc | SEDG | 3.73% |
SSE PLC | SSE.L | 2.92% |
Name | Symbol | % Assets |
---|---|---|
Vestas Wind Systems A/S | VWS | 9.49% |
Tesla Inc | TSLA | 9.00% |
NIO Inc ADR | NIO | 8.62% |
Eaton Corp PLC | ETN | 8.35% |
Microchip Technology Inc | MCHP | 7.90% |
Orsted A/S | ORSTED | 5.15% |
BYD Co Ltd Class H | 01211 | 5.12% |
Samsung SDI Co Ltd | 006400.KS | 4.04% |
Enphase Energy Inc | ENPH | 3.98% |
Albemarle Corp | ALB | 3.45% |
Name | Symbol | % Assets |
---|---|---|
Waste Management Inc | WM | 10.01% |
Waste Connections Inc | WCN.TO | 9.99% |
Republic Services Inc Class A | RSG | 9.92% |
Ecolab Inc | ECL | 9.79% |
Evoqua Water Technologies Corp | AQUA | 3.75% |
GFL Environmental Inc | GFL.TO | 3.73% |
Clean Harbors Inc | CLH | 3.70% |
Steris PLC | STE | 3.70% |
Darling Ingredients Inc | DAR | 3.67% |
US Ecology Inc | ECOL | 3.65% |
Name | Symbol | % Assets |
---|---|---|
Vestas Wind Systems A/S | VWS | 9.25% |
Siemens Gamesa Renewable Energy SA | SGRE.BC | 8.84% |
Orsted A/S | ORSTED | 8.59% |
Northland Power Inc | NPI.TO | 7.55% |
Boralex Inc Class A | BLX.TO | 5.43% |
China Longyuan Power Group Corp Ltd Class H | 00916 | 4.85% |
Innergex Renewable Energy Inc | INE.TO | 3.67% |
TPI Composites Inc | TPIC | 2.99% |
Xinjiang Goldwind Science & Technology Co Ltd Class H | 02208 | 2.63% |
General Electric Co | GE | 2.50% |
Name | Symbol | % Assets |
---|---|---|
Enphase Energy Inc | ENPH | 10.89% |
SolarEdge Technologies Inc | SEDG | 8.70% |
Xinyi Solar Holdings Ltd | 00968 | 7.80% |
Sunrun Inc | RUN | 7.19% |
First Solar Inc | FSLR | 6.11% |
Scatec ASA Ordinary Shares | SSO | 4.54% |
Daqo New Energy Corp ADR | DQ | 4.15% |
Hannon Armstrong Sustainable Infrastructure Capital Inc | HASI | 4.02% |
Neoen SA | NEOEN.PA | 3.69% |
Encavis AG | CAP.DE | 3.55% |
Name | Symbol | % Assets |
---|---|---|
Plug Power Inc | PLUG | 7.79% |
Ballard Power Systems Inc | BLDP.TO | 7.69% |
NEL ASA | NEL | 7.61% |
Bloom Energy Corp Class A | BE | 7.11% |
FuelCell Energy Inc | FCEL | 6.86% |
ITM Power PLC | ITM.L | 5.38% |
ENEOS Holdings Inc | 5020 | 5.08% |
Eni SpA ADR | E.MI | 4.93% |
Ceres Power Holdings PLC | CWR.L | 4.91% |
Linde PLC | LIN.L | 4.53% |
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