Jera + Exxon have hydrogen and ammonia production plans

Green investment funds in the UK are facing a critical vote on whether they should continue trading as their share prices continue to drop, The Financial Times reports. The largest trust, Greencoat UK Wind, along with others, is approaching the threshold that triggers a vote on whether they should continue operations. The sector, which plays a pivotal role in funding renewable energy projects, was affected by high inflation and rising interest rates, leading to a shift in investor interest towards lower-risk assets. This resulted in trusts trading at significant discounts to their net asset value, restricting their ability to raise equity for green asset investments. Strict fee disclosure rules have also made these trusts relatively more expensive, which experts argue has depressed share prices.

Jera + Exxon to collaborate on hydrogen and ammonia production: Japan’s biggest power producer Jera and US oil giant ExxonMobil have agreed to explore cooperation in low-carbon hydrogen and ammonia production in the US, Reuters reports. Jera will explore both investing and entering an offtake agreement for 500k tons of low-carbon ammonia annually from Exxon’s low-carbon hydrogen production plant in Texas — which is currently under construction. The plant — scheduled for operation in 2028 — is expected to be the largest of its kind in the world with a capacity of 900k metric tons of hydrogen and over 1 mn tons of ammonia.