The Week in Cleantech: 13 August 2023

US Government Makes Billion-Dollar Bet on Direct Air Capture Technology for Carbon Removal

The US government is investing $1.2 billion in two major Direct Air Capture (DAC) projects led by Occidental Petroleum and Climeworks. These projects aim to deploy DAC technology to capture and remove over 2 million tons of CO2 annually, addressing the urgent need for carbon removal solutions to combat rising global temperatures. The funding, awarded by the Department of Energy, positions the US as a leader in testing DAC as a climate change solution and is part of a larger $3.5 billion program for developing DAC hubs.

As global efforts to combat climate change intensify, the investment in DAC technology showcases a significant commitment to innovative carbon removal solutions. DAC holds promise in helping achieve critical emissions reduction goals, even though it faces criticisms regarding energy consumption and scalability. With major economies like the EU, UK, and Canada also backing DAC and similar technologies, this move highlights the growing recognition that carbon capture and removal will play a vital role in mitigating the impacts of climate change and transitioning to a more sustainable future.

Covered in: Carbon Credits and 14 other sources tracked by Cleantech Vanguard

Challenges Plague Siemens Gamesa's Wind Turbine Ventures

Siemens Gamesa, the wind division of Siemens Energy, is facing setbacks with its wind turbine production. Quality and productivity issues have arisen, particularly affecting the newer 4.X and 5.X onshore platforms due to faulty rotor blades and main bearings. A task force comprising specialists from Siemens Energy, Siemens Gamesa, and AlixPartners is investigating and seeking solutions to the problems. Additionally, challenges are impacting Siemens Gamesa's offshore business, including higher product costs and slow factory ramp-up for offshore production, leading to a significant backlog.

The difficulties faced by Siemens Gamesa underscore the complexities and challenges involved in wind turbine production, particularly with newer and more advanced designs. Quality problems and cost issues can significantly impact the financial performance of such projects. This situation highlights the need for stringent quality control and effective supply chain management in the renewable energy sector. The company's strategy review and forthcoming announcements will shed light on how it plans to navigate these challenges and ensure the success of its wind energy ventures.

Covered in: North American Windpower and 14 other sources tracked by Cleantech Vanguard

Mahle Unveils Bionic Battery Cooling Plate: A Leap Forward in EV Battery Efficiency

German automotive supplier Mahle has introduced an innovative battery cooling plate inspired by nature's design. Engineers at Mahle developed a bionic structure for the cooling channels, enabling more efficient coolant flow. This advancement enhances thermodynamic performance and structural-mechanical properties, leading to a 10% increase in cooling capacity and a 20% reduction in pressure loss. The design also optimizes temperature distribution across battery cells, allowing for safer and faster charging, ultimately extending the battery's service life.

Mahle's breakthrough in battery cooling technology holds significant implications for the electric vehicle (EV) industry. The ability to control coolant flow based on demand, while reducing temperature ranges and peak temperatures, not only enhances EV battery performance but also ensures safer and more rapid charging. This innovation aligns with the industry's quest for more efficient, longer-lasting, and environmentally friendly EV solutions, making it a noteworthy step towards advancing the adoption of electric mobility.

Covered in: electrive.com and 3 other sources tracked by Cleantech Vanguard

Top-3 Funding Rounds Raised by Cleantech Startups

• Archer Aviation, an electric aircraft startup based in California, has garnered an extra $215 million in equity investment, spearheaded by Stellantis, along with prominent participants such as Boeing, United, and ARK Invest. This recent funding elevates Archer's overall financing to exceed $1.1 billion, providing ample resources for further expansion. (electrive.com)
• Norwegian investment group Norfund has revealed an approximately $42.26 million investment in Fourth Partner Energy to bolster its renewable energy growth in India. In a distinct move, the International Finance Corporation declared an investment of around $67.62 million to aid the setup of Fourth Partner Energy's rooftop solar initiatives and a 75 MW solar park located in Atharga, Karnataka.
• Verdagy, a trailblazer in expanding electrolyzer technologies for industrial sectors, has unveiled the completion of a $73 million Series B funding round. The round was jointly led by Temasek and Shell Ventures, alongside the involvement of fresh international investors including Bidra Innovation Ventures, BlueScope, Galp, Samsung Venture Investment, Toppan Ventures, Tupras Ventures, Yara Growth Ventures, and Zeon Ventures. This fresh injection of funds will empower Verdagy to expedite the introduction and market deployment of its eDynamic® 20 MW electrolyzer module.

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