The Week in Cleantech: 3 September 2023

RWE Offshore US Gulf Secures 1.24 GW Offshore Wind Lease in Louisiana

RWE Offshore US Gulf emerged as the sole winning bidder in the US Interior Department's first offshore wind energy auction for the Gulf of Mexico. They secured the offshore Lake Charles, Louisiana, lease area, with the potential to generate approximately 1.24 GW. The company won the bid with a $5.6 million offer and expects the project to be operational by the mid-2030s.

This successful auction represents a significant step toward advancing offshore wind energy in the Gulf of Mexico. While the auction didn't meet expectations, it's vital for the region's energy transition. To fully realise offshore wind's potential in this nascent market, establishing enforceable offtake mechanisms and incentives for innovative energy markets like green hydrogen will be crucial. It also aligns with the broader national goal of developing 30 GW of offshore wind capacity by 2030 as part of the US's clean energy transition.

Covered in: S&P Global and 15 other sources tracked by Cleantech Vanguard

Mercedes-Benz to Launch Global High-Power EV Charging Network

Mercedes-Benz is making significant progress in its plans to create a global high-power EV charging network. Partnering with MN8 Energy, the automaker initially announced over 400 planned charging hubs in North America, housing over 2,500 ChargePoint DC fast charging stations. These hubs will be strategically located in populated areas and along popular highways. Mercedes-Benz aims to expand its global network to over 10,000 charging stations by the end of the decade. The first branded Charging Hubs are set to open this October in Atlanta, Chengdu (China), and Mannheim (Germany), with more than 2,000 points planned by the end of 2023, offering charge rates of up to 400kW and compatibility with various EV plug types.

Mercedes-Benz's ambitious plans for a global EV charging network reflect the growing importance of charging infrastructure to support the electric vehicle transition. This network expansion aligns with the automaker's commitment to providing reliable and easy charging options to encourage EV adoption and contribute to a sustainable, zero-emission future. The integration of over 1.3 million accessible charging points worldwide into this network emphasises the industry's collective effort to meet the charging needs of electric vehicle users, making EVs more accessible and convenient.

Covered in: Electrek and 9 other sources tracked by Cleantech Vanguard

UK Businesses Urge Government to Slash Renewable Diesel Prices for Greener Transport

Green Biofuel, supported by 30 businesses and environmental campaigners, has written a letter to UK Transport Minister Jesse Norman, calling on the government to reduce the price of renewable diesel. They argue that making renewable diesel more affordable is essential for promoting its use in heavy goods vehicles, trains, and maritime transport. The letter claims that advanced biofuels like renewable diesel could reduce greenhouse gas emissions from the transport sector by up to 90%.

This call for reduced prices on renewable diesel highlights the importance of providing sustainable alternatives to traditional fossil fuels. While electric vehicles are gaining traction, transitioning the existing vehicle fleet to greener options like renewable diesel can have a significant impact on reducing greenhouse gas emissions and improving air quality. Creating price parity with diesel through incentives and tax reductions could accelerate the adoption of renewable diesel and contribute to the UK's sustainability goals in the transport sector.

Covered in: MRW and 4 other sources tracked by Cleantech Vanguard

Top-3 Funding Rounds Raised by Cleantech Startups

• Redwood Materials, the battery recycling startup founded by JB Straubel, co-founder of Tesla, has secured over $1 billion in Series D shares from its latest equity funding round. In addition to the previous nearly $1 billion in equity capital and a $2 billion loan commitment from the Department of Energy, this funding will be used to expand capacity, grow the domestic battery supply chain, and enable customers to buy battery materials like lithium, nickel, and cobalt that are made in the US for the first time. This move aims to strengthen the US battery materials industry and reduce dependence on imports.
• Indiana-based startup Sortera Technologies has raised $30.5 million in a Series C funding round. They use AI, data analytics, and advanced sensors to recycle and upcycle metals from scrap, generating high-purity materials. The funds will support growth and the launch of their first large-scale upcycling facility.
• CH4 Global, a startup working on reducing methane emissions from livestock using red seaweed-based feed supplements, has secured $29 million in the first close of its $45 million series B round. Their Methane Tamer supplement cuts methane emissions in ruminants by up to 90%. The funding will be used to construct and validate a production facility in southern Australia, producing seaweed to supplement the diets of 30,000 cows, potentially generating annual revenues of $20 million.

Thank you for reading this newsletter. We hope you liked it, and we would greatly appreciate if you spread the word about it.

If you have any feedback or suggestions on how to improve it, just drop us a line.

Follow us on Telegram, Twitter or LinkedIn to receive more frequent bite-sized updates on trending cleantech news.