🏭 $6 billion for Industrial Decarbonization

Good Morning. This is the Sunya Scoop. The newsletter that takes energy transition news and turns it into an easy-to-read email for you.

Here’s what we have for you today:

• DOE announces $6 billion in funding for industrial decarbonization

• Baker Hughes and HIF Global to partner on DAC tech

• Technip, Shell, Zachry working on FEED for Calpine CCS in Texas

• SK materials increasing CCUS investments in US

• Chart and GenH2 collaborate on hydrogen liquefaction

• Microsoft buys ocean-based carbon removal credits

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INDUSTRIAL DECARBONIZATION

DOE announces $6 billion in funding for heavy industrial decarbonization

• U.S. Department of Energy to fund $6 billion to accelerate decarbonization projects in energy-intensive industries.

• The Industrial Demonstrations Program will focus on high-emitting industries like iron and steel, aluminum, cement, and concrete.

• The funding will help achieve the goal of a net-zero economy by 2050 and strengthen America’s global leadership in manufacturing.

• The Office of Clean Energy Demonstrations will manage the program and provide up to 50% of the project cost.

• The funding opportunity represents more than $12 billion:

  • $430 million from the Bipartisan Infrastructure Law,

  • $5.46 billion from the Inflation Reduction Act and

  • $6 billion in expected private sector funds

• The DOE will prioritize projects that accelerate industry towards deep decarbonization, spur follow-on investments, enable new markets for cleaner products, and benefit local communities.

• Applicants must submit a Community Benefits Plan to ensure they are meaningfully engaging with the surrounding communities

• Concept papers are due by April 21, 2023, and full applications are due by August 4, 2023.

CARBON CAPTURE

Baker Hughes and HIF Global team up on DAC technology

• Baker Hughes and HIF Global to collaborate on the development of technology to capture CO2 directly from the atmosphere.

• The agreement enables pilot testing of Baker Hughes’ Mosaic DAC technology to accelerate the deployment of Direct Air Capture solutions at commercial scale.

• HIF Global aims to capture 25 million tons per year of CO2 and combine it with green hydrogen to produce 150,000 barrels per day of eFuels and decarbonize over 5 million vehicles in use today.

• Baker Hughes is leveraging its advanced capabilities to develop and scale Mosaic’s innovative technology with the goal of enabling direct air capture with higher efficiency and lower cost.

• HIF Global has two pioneering sites where it anticipates possible deployment of Baker Hughes’ Mosaic DAC technology.

CARBON CAPTURE

Technip, Shell and Zachry to work on engineering for Calpine’s CCS project in Baytown, Texas

• Technip Energies, Shell Catalysts & Technologies, and Zachry Group were awarded a Front-End Engineering and Design (FEED) contract for a carbon capture unit project in Baytown, Texas, USA.

• The project aims to capture two million tons per annum of CO2, representing 95% of CO2 emissions from processed flue gas from Calpine’s Baytown Energy Center and a natural gas combined cycle power plant.

• Technip Energies and Shell Catalysts & Technologies have a strategic alliance to collaborate on the marketing, licensing and execution of projects using Shell’s CANSOLV CO2 Capture System technology.

• Zachry’s scope in the FEED study will include outside battery limits (OSBL) engineering, detailed construction planning, and estimating for the overall project.

• Calpine’s Baytown Energy Center is a natural gas-fired power plant that incorporates combined-cycle and cogeneration technologies for highly efficient operations.

• The companies involved expressed their excitement to support Calpine’s efforts in decarbonizing their assets and contribute to the design of this significant carbon capture project.

• The ongoing Deer Park CCS project is being considered a success and they hope to develop more learnings and generate more value with the Baytown project, which could serve as a blueprint in the industry.

CARBON CAPTURE

SK increases its US investments in CCUS

• SK Inc. materials plans to increase investments in 8 Rivers to strengthen their partnership in the clean energy business.

• 8 Rivers is a clean energy technology company with supercritical CO2 power generation and blue hydrogen production technologies.

• SK plans to pursue high-growth clean energy business in North America first and expand the business to global markets such as Asia.

• SK will form US investment vehicle with $300 million into making clean tech investments, including additional investments into 8 Rivers.

• SK aims to actively develop the CCUS-based clean energy business in the US and further strengthen the strategic partnership with 8 Rivers.

• SK Inc. materials is strengthening its clean energy business in addition to the traditional semiconductor, display, battery-related high-tech materials business.

• SK Group has goal of being responsible for 1% (200 million tons) of global carbon reduction by 2030.

HYDROGEN

Chart and GenH2 sign MOU for hydrogen liquefaction

• GenH2 and Chart Industries have formed a partnership to distribute small-scale hydrogen liquefaction technologies globally

• GenH2 will incorporate Chart equipment into their liquefaction systems

• The two companies will collaborate to continue to develop industry relationships across the full hydrogen value chain as well as pursue new customers where opportunities exist

• GenH2’s 1000 Kg/day solution will allow for the deployment of a scalable, modular distributed infrastructure that breaks geographic constraints

• GenH2 focuses on commercializing CO2-free Hydrogen generation, liquid hydrogen storage, and dispensing

• Chart has 60 years of experience manufacturing hydrogen equipment that leads the industry in performance and quality

• The GenH2 flagship 1 TPD liquefaction system offers 1,000 kg/day of pure para hydrogen using technology that is optimized for performance and efficiency

CARBON MARKETS

Microsoft buys ocean-based carbon removal credits

• Running Tide becomes Microsoft’s first open ocean-based carbon removal supplier

• Two-year agreement signed to remove up to 12,000 tons of carbon using breakthrough technology that enhances ocean’s ability to naturally remove carbon

• Carbon removal involves moving carbon from the fast carbon cycle to the slow carbon cycle where it is stored for hundreds of years

• Microsoft’s carbon removal purchase supports its commitment to being carbon negative by 2030 and helps scale the carbon removal market

• Running Tide uses natural processes and low energy mass transfer techniques to sink carbon in the deep ocean for long-term storage

• Running Tide also designs and implements an end-to-end suite of ocean diagnostic and sensor capabilities to measure and monitor environmental impacts

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.