US finalizes solar expansion plan: The US has finalized solar energy expansion plans on federal land across 11 western states in record time, Reuters reported on Thursday. The government approved the plans around six months quicker than the average time to finalize similar projects, as the country hits the gas on decarbonization projects ahead of the upcoming presidential elections. The allocated land has high solar potential with little biodiversity interference. The US also conditionally approved a rule allowing companies in Maricopa County, Arizona — where investment in chip manufacturing is ramping up — to purchase carbon credits.

Efforts on the hydrogen front are also picking up: The Biden administration will invest USD 62 mn to accelerate the development of the US hydrogen industry, Bloomberg reported on Friday. The funding will support 20 projects across 15 states, with USD 40 mn allocated to standardizing hydrogen fueling stations for trucks. Efforts are also underway to reduce the cost of hydrogen gas by 80% to USD 1 per kg by 2030.

ON THE FLIPSIDE- US climate investment in carbon capture might be misguided: Developing countries including the US have spent almost USD 30 bn on “unproven” carbon capture and storage (CCS) and fossil hydrogen tech over the last 40 years, The Guardian reported on Thursday, citing a report (pdf) by Oil Change International. The public investments might be hindering the global energy transition, the analysis added. Critics of the technology call for taxpayer money to be directed to more proven methods, with global engagement director for the Fossil Fuel Non-Proliferation Treaty Initiative calling the subsidies a “colossal waste of money.”

Carbon Clean and Petronas collaborate on advanced carbon capture technology: UK-based carbon capture tech company Carbon Clean signed an MoU with Malaysian state oil company Petronas carbon capture subsidiary Petronas CCS, to jointly evaluate and explore the integration of Carbon Clean’s CycloneCC technology into Petronas’ operations, according to a statement released last week. This collaboration aims to address climate change by assessing and developing more efficient carbon capture methods.

About the tech: The CycloneCC unit’s compact, modular design can reduce the total installed cost of carbon capture by up to 50% compared to conventional methods, according to the company. The tech is 10 times smaller than conventional carbon capture machinery, and uses rotating packed bed (RPB) technology to make the process more efficient by utilizing centrifugal force.

UAE’s Fertiglobe is also utilizing CycloneCC: Abu Dhabi state oil giant Adnoc announced a strategic partnership with MENA fertilizers firm Fertiglobe — a joint venture between Adnoc and OCI Global — for the pilot deployment of a 10-ton-per-day CycloneCC industrial unit by Adnoc in October 2023.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • BYD to acquire Hedin: Chinese EV maker BYD is set to purchase German distributor Hedin Electric Mobility which has handled the company’s German imports since 2022. The acquisition — which allows BYD to sell to dealers without a middleman — is expected to be finalized in 4Q pending regulatory approval. The financials are yet to be disclosed. (Bloomberg)
  • Philippines signs loss and damage board act: President of the Philippines Ferdinand R. Marcos Jr. has granted juridical personality and legal capacity to the Loss and Damage Fund Board. This comes after the Board of the Fund for responding to Loss and Damage selected the Philippines as its host country in July. (Statement)
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