The Week in Cleantech: 20 August 2023

US Department of Commerce Ends Solar Antidumping Investigation, Impacting Southeast Asian Exports

The U.S. Department of Commerce (DOC) has concluded an 18-month antidumping/countervailing duties (AD/CVD) investigation targeting solar goods from China. The investigation found Chinese solar manufacturers were using Southeast Asian countries like Cambodia, Malaysia, Thailand, and Vietnam to avoid tariffs on Chinese-made solar products. As a result, AD/CVD rates will now be extended to solar exports from these Southeast Asian countries, affecting most manufacturers except Hanwha Qcells, JinkoSolar, and Boviet Solar. New AD/CVD rates will take effect by June 2024.

The DOC's decision seeks to close loopholes in the solar trade, curbing tariff avoidance tactics. However, this move could impact the U.S. solar industry's supply chain, causing uncertainty for solar developers and contractors. While some companies have taken steps to comply, the decision might lead to challenges in sourcing cells and modules. This decision highlights the ongoing complexities of balancing trade policies, renewable energy goals, and domestic manufacturing aspirations.

Covered in Solar Power World and 23 other sources tracked by Cleantech Vanguard

Occidental Acquires Carbon Engineering: A Bold Move in the Carbon Removal Space

Energy giant Occidental (Oxy) has acquired Carbon Engineering, a Canadian-based leader in Direct Air Capture (DAC) technology, for $1.1 billion. This acquisition comes after the recent announcement that Oxy's DAC project, in partnership with Carbon Engineering, secured up to $1.2 billion in grants from the U.S. Department of Energy. Carbon Engineering's DAC technology directly extracts CO2 from the atmosphere for storage or utilisation, and its "AIR TO FUELS" technology produces low-carbon transportation fuels.

The acquisition aims to accelerate DAC technology deployment for global carbon removal and strengthen Oxy's position in the transition to a net-zero energy system. By integrating Carbon Engineering's expertise, Oxy aims to enhance the cost efficiency, revenue streams, and technology advancements in DAC. The partnership also exemplifies the collaborative approach required to address complex climate challenges.

Covered in ESG Today and 10 other sources tracked by Cleantech Vanguard

Google Joins Shell-Backed Blockchain Initiative to Boost Sustainable Aviation Biofuels

Google has partnered with a blockchain platform Avelia, supported by Shell and American Express Global Business Travel (Amex GBT), to facilitate the sale of sustainable aviation biofuels (SAF) credits to corporate customers. This initiative aligns with efforts to decarbonise business travel and make progress toward net-zero aviation emissions. Other notable participants in the program include Bank of America, Aon, Delta, Cathay Pacific, JetBlue, and Japan Airlines.

Google's involvement in the Avelia program underscores the significance of cross-industry collaboration in addressing aviation's carbon footprint. The adoption of SAFs is a vital strategy for airlines to swiftly reduce emissions. However, the current use of SAFs globally remains minuscule due to high costs and limited feedstock availability. By involving major corporations like Google, Shell, and Amex GBT, Avelia aims to create a framework that encourages investments and demand for SAFs.

Covered in GreenBiz and 10 other sources tracked by Cleantech Vanguard

Top-3 Funding Rounds Raised by Cleantech Startups

• General Motors has taken the lead in a Series B funding round worth $60 million for Mitra Chem, a company located in Silicon Valley that specialises in creating iron-based cathode active materials employed in the production of batteries for electric vehicles. GM anticipates that this investment will accelerate the progress of developing more cost-effective batteries within the United States. (Utility Dive)
• Dcbel, a cleantech startup headquartered in Montréal, has concluded a Series B funding round surpassing $50 million to expedite the launch of its r16 Home Energy Station. Idealist Capital spearheaded this funding effort, accompanied by contributors such as Volvo Cars, Coatue, Kevin Mahaffey, and Real Ventures. Dcbel's r16 offering facilitates bidirectional electric vehicle (EV) charging, enabling users to charge their EVs using solar panels and stationary batteries, while also utilising stored EV energy to power their residences. (Environment+Energy Leader)
• Advanced Ionics, a hydrogen electrolyzer developer for green hydrogen production, has secured $12.5 million in Series A funding. The round was led by bp ventures and featured investors like Clean Energy Ventures, Mitsubishi Heavy Industries, and GVP Climate. This funding will accelerate Advanced Ionics' growth and support the initial implementation of its water vapour electrolyzer technology in heavy industry applications. (Green Car Congress)

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