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Bloom Energy partners for expansion in Spain and Portugal

The California-based company has teamed with Telam Partners, a leading senior advisory firm specialized in the financing and market entry of energy, infrastructure, and technology projects.

Bloom Energy has teamed with Telam Partners, a leading senior advisory firm specialized in the financing and market entry of energy, infrastructure, and technology projects, to expand Bloom’s footprint into Spain and Portugal, according to a press release.

The two companies will market and deploy the Bloom Electrolyzer, as well as Bloom’s Energy Servers, supporting customers with solutions that can efficiently meet their energy security needs and green hydrogen demand.

“Business and political leaders are looking for clean technologies and energy solutions,” said Tim Schweikert, senior managing director of International Business Development, Bloom Energy Inc. “Bloom is now engaged to address these priorities in Spain and Portugal. Telam is a partner of choice, supporting Bloom’s long-term commitment to the Iberian Peninsula and to respond promptly to green transition policies and environmental imperatives.”

“At Telam we are excited to be able to work with the solid oxide fuel cell leader on the very important and urgent challenge of transitioning towards renewable energy,” said Jaime Malet, CEO of Telam Partners. “We are convinced that Spain and Portugal, thanks to an abundance of wind and solar resources, are among the clearest candidates to lead the production of green hydrogen in Europe.”

In line with Spanish and Portuguese objectives to become global green hydrogen hubs, Telam and Bloom will market Bloom’s solid oxide electrolyzer. With impressive efficiency confirmed in testing at the U.S. Department of Energy’s Idaho National Labs, the Bloom Electrolyzer provides hydrogen with low cost of ownership. Further, the Bloom Electrolyzer is well suited for large-scale installations, as well as projects such as ammonia and renewable fuels synthesis, which can be integrated with the electrolyzer.

Telam and Bloom will also market Bloom’s highly efficient fuel cell Energy Server™ to decarbonize port activities when ships are at berth. Bloom’s fuel-flexible technology, which can operate on natural gas, biogas or hydrogen, produces electricity without combustion and reduces carbon emissions compared to the auxiliary diesel gensets usually used for shore power.

This represents Bloom Energy’s first deal for the Iberian Peninsula. It confirms Bloom’s commitment to the European market, after announcing the installation of its energy platform at Ferrari’s Italian plant and a strategic partnership for the Italian market with the engineering, procurement and construction company CEFLA in 2022.

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Climate Adaptive Infrastructure, DigitalBridge to collaborate on renewable diesel and green hydrogen strategies

The firms will include renewable diesel and green hydrogen as part of a joint effort to identify and invest in sustainability-focused initiatives.

Climate Adaptive Infrastructure and DigitalBridge Group, Inc. today announced a decarbonization partnership to accelerate the Digital Infrastructure ecosystem’s transition to Net Zero.

CAI, an infrastructure investment firm specializing in low-carbon real assets in the energy, water and urban infrastructure sectors will work with DigitalBridge to identify, develop and invest in sustainability-focused initiatives and projects that complement DigitalBridge’s existing and future investments.

As part of the partnership, CAI has allocated up to $300m of capital to support strategic opportunities identified by CAI and DigitalBridge.

CAI’s first investment under the initiative is in Switch, a 100% renewable powered data center platform, which a DigitalBridge-managed investment entity acquired last year. In addition, the parties have identified other potential investment opportunities within the DigitalBridge portfolio that address measurable decarbonization and water and energy resilience.

As a thought leader in the climate adaptive infrastructure industry, CAI will work with DigitalBridge to implement technologies from within and beyond the DigitalBridge portfolio. These include deployment of utility-scale solar and wind, low-impact hydro, electrochemical and pumped storage, water conservation and re-use, renewable biodiesel and green hydrogen, as well as the advanced climate impact measurement strategies developed by CAI. These projects, which may be financed, built, owned and operated by CAI, are expected to support DigitalBridge’s Net Zero 2030 commitment, and to drive economic efficiency across the DigitalBridge digital ecosystem.

“The DigitalBridge team is broadly recognized for their success in the sector and, through this initiative, continues to demonstrate forward thinking around further decarbonizing their ecosystem,” said Bill Green, managing partner of CAI. “We are excited to be launching this innovative partnership with DigitalBridge.”

“We are pleased to partner with Bill and the entire CAI team to accelerate DigitalBridge’s path towards a more sustainable digital infrastructure ecosystem,” said Marc Ganzi, CEO of DigitalBridge.

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Marquis sells ethanol plant to United Cooperative

Ethanol producer Marquis has sold a 100 million gallon per year facility in Wisconsin to United Cooperative.

Illinois-based Marquis has sold its Necedah, Wisconsin ethanol facility to United Cooperative.

The facility, which has a production capacity of 100 million gallons of ethanol per year, will operate under the new name of United Energy Necedah. The asset sale will be effective May 31, 2024, according to a news release.

In addition to ethanol, the facility produces DDGs, high-protein animal feed, and corn oil.

“The purchase of Marquis’ Necedah ethanol plant aligns with our strategic initiative of investing in agriculture, opening new markets, and providing value-added products for our member-owners,” stated David Cramer, President and CEO of United Cooperative. “This type of diversification supports our mission, our local farmers, and the U.S. economy. Our investment also promotes our sustainability efforts by continuously improving the stewardship of the air, soil, and water, safeguarding our natural resources for generations to come.”

Mark Marquis, CEO of Marquis, said, “The sale of our Wisconsin facility aligns with our commitment to strategic growth in developing the world’s first carbon-neutral industrial complex in Hennepin, IL. We extend our sincerest gratitude to our valued grain customers, the supportive Necedah community, and to the incredible and talented team of employees at Marquis Energy Wisconsin for their hard work and dedication. We look forward to the continued success of United Energy Necedah LLC under the stewardship of United Cooperative.”

As part of the sale, Marquis will collaborate with United Cooperative to provide ongoing marketing and team support and looks forward to a prosperous future of working with the United Cooperative team.

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Schlumberger changes name to SLB, eyes hydrogen opportunities

Schlumberger has changed its name to SLB and is exploring opportunities in the hydrogen sector, among other areas in its New Energy business.

Schlumberger has changed its name to SLB, according to a press release.

The change underscores the company’s commitment to a decarbonized future, the release states.

In 2020, SLB launched its New Energy business to explore partnerships and opportunities in clean technology. Hydrogen is one of five areas SLB is looking to develop through New Energy, along with carbon solutions, geothermal and geoenergy, energy storage and critical minerals.

This includes Genvia, a clean hydrogen technology company formed as a public/private partnership with France’s renewables research agency, CEA, and other partners.

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Pennsylvania blue hydrogen DevCo planning project equity raise

A natural gas company has tapped an advisor and is planning to launch a process to raise project equity in the fall for a blue hydrogen production facility with contracted offtake in Pennsylvania.

KeyState Energy, a Pennsylvania-based development company, has engaged a financial advisor to launch a $60m equity process in September, according to two sources familiar with the matter.

Young America Capital is advising on the forthcoming process, the sources said.

The capital raise is for the company’s marquee Natural Gas Synthesis blue hydrogen project in Clinton County, one of the sources said. CapEx for the project is estimated at $1.5bn. OCGI is a pre-FEED investor in the project and the coming equity raise is meant to attract a FEED investor.

The 200 mtpd project has contracted offtake with Nikola Corporation, one of the sources said. In October it was reported that Nikola and KeyState were working towards a definitive agreement to expand the hydrogen supply for Nikola’s zero-emissions heavy-duty fuel cell electric vehicles.

The 7,000-acre natural gas and geologic storage site was formerly known for coal, iron and rail, according to the company’s website.

KeyState Energy did not respond to a request for comment. YAC declined to comment.

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EXCLUSIVE: 8 Rivers co-founder departs firm

A co-founder and executive has departed the North Carolina-based firm, which recently announced an ammonia project in Texas.

Bill Brown, a co-founder of the technology commercialization firm and clean fuels developer 8 Rivers Capital, has retired from the company, a spokesperson confirmed via email.
According to Brown’s LinkedIn profile, he is serving now as CEO of New Waters Capital. He co-founded 8 Rivers and also served as CEO and CTO in this nearly 16 years there.
Brown did not respond to a request for comment.
According to 8 Rivers’ website, Dharmesh Patel is serving as interim CEO. The company recently announced development of the Cormorant Clean Energy ammonia production facility in Port Arthur, Texas
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Exclusive: Waste-to-fuels developer preparing capital raise

A waste-to-fuels developer has lined up an advisor and is planning a capital raise for a project in West Texas, in what is expected to be the first of up to 20 similar fundraising efforts totaling $500m in external capital needs.

Recover, Inc., a Calgary-based waste-to-fuels project developer, is preparing to launch a capital raise for its first US-based projects in West Texas.

The company has lined up CIBC to assist with the capital raise while a large Canadian Crown Corporation is expected to sign on as a lending partner for the debt portion of the cap stack, CFO Shane Kozak said in an interview.

Kozak said he will need to raise $70m – $75m for the West Texas project, which will process waste from oil and gas drilling fluids and recover 800 barrels per day of low carbon intensity diesel fuel from 800 tons of waste.

Existing equity backers Azimuth Capital and BDC will participate in the capital raise, but the company is seeking additional project equity investors to take part in a 60% debt to 40% equity capital structure, Kozak said.

While the cost of the West Texas project is estimated at $55m, the company needs to raise approximately $70m to account for debt servicing and underwriting fees, he added.

Recover has mapped out a strategy to build 20 projects in oil and gas basins across the US, and estimates it will need to raise $500m in external capital over 10 years to fully develop those projects.

Project model

The company already operates a similar facility in Alberta that became operational in 2018, at a cost of CAD 20m and producing about half of what the West Texas project will produce.

“This has been commercially proven in Canada, and we’re going to a better market with a lot more drilling waste production” in the US, Kozak said.

The waste stream from oil and gas drilling contains large amounts of diesel fuel: a typical well will create 400 – 500 tons of waste, 30%-40% of which is recoverable low carbon intensity diesel, Kozak said.

In Texas, the drilling fluid waste often ends up in pits near drilling rigs or in industrial landfills, where it biodegrades over time and emits CO2 and methane into the atmosphere.

“We significantly reduce GHG emissions and create a fuel source that can be reused, and every barrel that we recover is a barrel of fuel that would otherwise have to come from a fossil fuel source,” he said.

Recent changes to Texas policy regarding oil and gas drilling waste could increase the availability of feedstock for the company. The Texas RailRoad Commission, which oversees the state’s oil and gas industry, is seeking to modernize disposal practices that would redirect waste from drilling pits to more centralized industrial landfills.

“The good thing for us is that, in the Permian Basin, about 70% – 80% of the wells use these pits, and our strategy is to build our facility directly on industrial landfills,” Kozak said.

Recover is working with a large landfill management company with operations across the US to develop its facilities, he added. The company does not pay for feedstock, given the synergistic relationship between Recover and the landfill management company.

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