Chris Wright, CEO of the oil industry, is appointed Energy Secretary by Trump
Donald Trump, the President-elect, announced on Saturday that Chris Wright, an oil and gas executive who is a staunch supporter of fossil fuels, will be his choice to lead the Department of Energy. Wright is the founder of Liberty Energy in Denver, a firm that provides oilfield services.
Who would be the best person to run Trump's energy policy?
Donald Trump, the president-elect of the United States, has pledged to overhaul U.S. Energy Policy. He aims to maximize oil and gas production in this country which is already at record levels by rolling back regulations and accelerating permits. Who will he select…
Chinese solar firms are ever-nimble and go to places where US tariffs do not reach
The U.S. tariffs on Vietnam and three other Southeast Asian nations have prompted some of the largest Chinese-owned factories to cut production and lay off workers. In the meantime, a number of Chinese-owned solar power plants are being built in Indonesia and Laos. These are outside of Washington's protections on trade.
Budgets for UK mid-caps are boosted by pubs, builders and bookies
The UK midcap stocks rose on Wednesday, as investors deemed that the first UK budget of the new Labour government was less punitive than they had feared. Mid-cap shares outperformed blue-chip stocks, even though UK Finance Minister Rachel Reeves had announced a…
Sustech, a Japanese startup, has seen its valuation soar to over $800 million in the latest funding round
Sustech, a Japanese energy technology startup, is expected to raise $50m from investors. This will value the company at over $800m, according to people familiar with the matter. The Tokyo-based company wants to tap into the fast-growing global demand for cleaner energy.
CorPower Ocean, a wave energy technology company, has secured 32 million Euros.
The firm announced on Wednesday that it had secured funding of 32 million euros ($35 millions) to help commercialise wave energy technology. Wind and tidal projects are being developed in some countries to reduce emissions and achieve climate goals. The wave power…
Financials drag Australia's shares down; US inflation data is in focus
Australian shares finished marginally lower on Tuesday, as losses among financial stocks outweighed gains by miners. Investors were cautious in advance of an important U.S. inflation report that could affect the Federal Reserve's next interest rate decision. The S&P/ASX 200 ended 0.4% lower, at 7978.7.
EU Probes Chinese Subsidies and Imports
The European Commission proposed on Tuesday final duties up to 36.3% for imported electric vehicles manufactured in China. This is part of the most high-profile EU investigation into alleged Chinese subsidies, which has provoked threats from Beijing. The EU has…
Offshore Energy Production & the World Economy
As the price of gas continues to seemingly hold steady at around three dollars a gallon, the pocketbooks of Americans continue to suffer. Regretfully, due to global conflict and the outbreak of wars across Europe and the Middle East, oil prices are continuing to climb upwards…
CorPower Ocean Debuts "Commercial Scale" Wave Energy
CorPower Ocean unveiled the CorPower C4, its first commercial scale Wave Energy Converter (WEC) and CorPack clusters, which the company contends will provide the building blocks for utility scale wave farms.Ultimately, the new CorPower C4 device will form part of a four-system wave array…
CorPower Ocean to Launch C4 Wave Energy Converter
CorPower Ocean will launch its next-generation C4 wave energy converter alongside its new ‘CorPack Concept’ providing the building blocks for future wave energy farms.The unveiling will happen in Stockholm, Sweden, on June 15. The new full-scale CorPower C4 device…
From the Science Lab: Clean Energy Projects that Could Impact Maritime
As part of a $175M grant for 68 novel clean energy technology projects from the U.S. Department of Energy, these four offer promise in helping the maritime industry meet its decarbonization goals.Makai Ocean Engineering – Waimanalo, HIRemotely Installed Anchorages…
Tech File: SHI Develops onboard Carbon Capture System
SHI reports that it has successfully developed an 'Onboard Carbon Capture' system which can be applicable to LNG fueled vessels with PANASIA, an eco-friendly and energy system expert, and received Approval in Principle from KR, Korean classification society, for…
CorPower Extends Equity Funding for Commercial Scale Demo
After securing a private placement of 9 million Euros, CorPower has extended its equity funding to 20.3 million Euros, for the commercial scale demonstration of its wave energy technology. The investment round was led by Midroc New Technology and included SEB Greentech VC, family offices and private investors.
Renewable Energy: Wave Power Projects Takes a Big Step
Eco Wave Power has secured the engineering coordination permit from the Municipality of Tel-Aviv Jaffa (permit number 2020-3249) needed for the cement works and installation of 10floaters for the EWP-EDF One wave energy project in the Port of Jaffa, Israel.This…
Project INNTERESTING Aims to Accelerate Wind Technology
The European project INNTERESTING aims to accelerate wind energy technology development and to extend the lifetime of wind turbine components.Coordinated by the Technological Research Center IKERLAN, Project INNTERESTING, has a budget of $5.2M (€4.75M) and it is…
Ørsted Secures Funding for Hydrogen Pilot
Offshore wind developer Orsted has secured funding for a demonstration project using offshore wind power to produce renewable hydrogen to power.Seven industrial partners have been awarded funding for a demonstration project in Denmark using offshore wind power to produce renewable hydrogen for road transport.Within energy…
Partners Bring AI to Energy
Baker Hughes, C3.ai, and Microsoft Corp. announced an alliance to bring enterprise artificial intelligence (AI) solutions to the energy industry on the Microsoft Azure cloud computing platform.This alliance will enable customers to streamline the adoption of scalable…
WaveRoller Tested in Portugal
A first-of-a-kind commercially-ready offshore wave power generation device is soon to be completed thanks to the experts from Finnish-based wave energy technology developer AW-Energy. The team has deployed its WaveRoller device offshore at Peniche, a seaside municipality…
Oilfield Services Firms Moving Beyond Oil
Heavyweight oilfield service providers like Saipem and Baker Hughes are moving past just oil and gas projects and embracing more renewable energy projects going forward.In 2014, non-upstream oil and gas activities accounted for 22% of revenues among service suppliers.
