Chevron, Hyzon, and Raven to produce hydrogen from green waste with a non-combustion reforming process

Key Insights and Signals in Energy & Utilities

Centre Setup and Expansion
Duke Energy begins operating 207-MW Ledyard Windpower, its first wind project in Iowa
Duke announced it has placed into commercial operation the 207-megawatt Ledyard Windpower project in Kossuth County, Iowa. More than 10% of the nation’s wind power is in Iowa, and it’s exciting for their company to begin operating in that market. Read More>>
Cepsa to develop 400 MW of solar projects in Spain
The company will develop solar projects in Campo de Criptana and Arenales de San Gregorio with an investment of more than EUR 280 Mn (USD 304 Mn). The construction of solar power projects is expected to begin in 2025. It also added that the total capacity of the three farms would be 400 MW. Read More>>
Chevron, Hyzon, and Raven collaborate to produce hydrogen
Chevron Corp., Hyzon Motors Inc., and Raven SR Inc. are collaborating on a green waste-to-hydrogen facility. The facility will be owned by a newly formed company Raven SR S1 LLC. Raven SR Inc. will be the facility’s operator, targeted to come online in the first quarter of 2024. ET on Jan. 10 misstated the owner of the facility. Read More>>
Merger and Acquisition
China merges State Grid’s biomass power firm into green energy giant State Power
China’s state-owned assets supervisor has integrated one of the country’s leading biomass power generation companies, under China’s biggest power grid firm State Grid Corporation of China, into State Power Investment Corp. to consolidate their assets and better serve the national energy strategy. Read More>>
Yield10 Bioscience and Mitsubishi Corporation sign MoU to evaluate the establishment of a partnership to supply, offtake and market Camelina as a feedstock oil for biofuel
The company signed a Memorandum of Understanding with Mitsubishi Corporation to evaluate the establishment of a partnership to supply, offtake, and market Camelina as a low-carbon feedstock oil for biofuels. The MoU is non-binding and expires at the end of 2023. Read More>>
Harbour Energy to cut jobs due to UK windfall tax
Harbour Energy plans job cuts in the wake of a windfall tax imposed on the sector last year. The jobs would be cut in Harbour Energy’s headquarters in the North Sea hub of Aberdeen, Scotland, but the extent of the cuts is yet to be determined and will be subject to consultations. Read More>>
Executive Movements
Hydro One names David Lebeter as the new CEO
Hydro One named David Lebeter, its new president and chief executive officer. Lebeter had previously served as Hydro One’s chief operating officer (COO). Lebeter takes over from interim CEO William Sheffield, who stepped into the interim role last year after permanent CEO Mark Poweska left the company. Read More>>
Alliant Energy appoints industry veteran Lisa Barton as President and Chief Operating Officer
In this role, Ms. Barton will work with John O. Larsen, Alliant Energy’s Chair and Chief Executive Officer, to execute the company’s investment growth plan and continue advancing Alliant Energy’s work to enable a clean energy future for the customers and communities Alliant Energy serves. Read More>>
Ausgrid announces new CEO
The company welcomes a new CEO following Mr. Richard Gross’s departure after six years. Marc England will step into the role of Ausgrid CEO. Mr. England was CEO of New Zealand’s publicly listed Genesis Energy for six years. Before that, he worked for AGL in Sydney as Group Head of Strategy and as Executive General Manager of New Energy, as well as executive roles for British Gas in the UK. Read More>>
Financial and Market Activity
General Electric reverses bias and registered a profit of USD 2.2 Bn in 4Q22
GE reported a net income of USD 2.2 Bn in the fourth quarter of 2022, reversing the loss of USD 3.843 Bn in the same period of the previous year. On the same basis of comparison, revenue totaled USD 21.786 Bn, an increase of 7%. Read More>>
Sterling and Wilson Renewable Energy’s net loss narrowed to INR 99 Cr (USD 12.14 Mn) in Q3
The company announced that it had narrowed its consolidated net loss during the December quarter, mainly due to lower. The total income of the company stood at INR 417.65 Cr (USD 51.2 Mn) in the October-December quarter as against INR 1,502.23 Cr (USD 184 Mn) during the corresponding period of the previous year. Read More>>
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Latest Industry Insights from Draup Braindesk

 The following are the key components of this study:
Vestas aims to provide the solutions and services needed to accelerate the energy transition, develop an offshore wind project for wind power supply across the regions, and supply, install, maintain, and service the wind system to expand its business operations.

Wind Energy Production
  • Vestas intends to develop the wind energy supply chain and scale renewables for the global energy transition and design and manufacture blades for the EnVentus platform wind turbines. 
  • Vestas aims to expand its presence as a wind turbine supplier for Offshore Wind Projects and delivers active output management service that optimizes energy production while providing long-term business case certainty.
Platform Expansion and Carbon Emission Reduction
  • Vestas aims to expand its 4 MW and advanced EnVentus platform by offering enhanced performance in low to medium wind conditions and expanded site applicability for all conditions, with solutions for cold and hot climates. 
  • Vestas aims to invest in its research, development, and innovation activities, including developing the offshore wind turbine that delivers industry-leading performance and developing fully sustainable products & solutions for reducing carbon emissions from value chain.
Service Opportunities
  • Middle Jutland, Denmark, and Portland, Oregon Area, United States, are the key hotspot for various technology operations like Application Development & Maintenance, Testing & Metrology, Data Centre Management, and IT Risk Management related engagements. 
  • Consulting & System Integration, the highly outsourced segment, holds approximately 44% of the total outsourcing headcount. HCL is the key strategic outsourcing partner for Vestas Wind Systems A/S.

Startup Spotlight

Company – Nitricity
Total Funding  USD 26.92 Mn
About: Nitricity is developing a system to produce carbon-free fertilizer. Its technology can produce ready-to-use nitrogen with only air, water, and renewable electricity. They produce nitric acid and ammonia, which can be used separately or combined to produce ammonium nitrate fertilizer. Read more>>

Latest Reports Published in Draup

Neptune Technology Group Inc. Account Intelligence Report
Neptune Technology delivers smart water solutions, including measurement tools, networks, software, and services designed for the critical work of water. It is keen on water utilities by providing effective measurement tools, software, and services for the water business. Read More>>
Waste Management Account Intelligence Report
Waste Management is investing in renewable gas infrastructure to provide a renewable energy supply to 1 million homes across North America. It is projected to invest USD 800 Mn in recycling infrastructure through 2025, including automating operations and building NextGen tech facilities. Read More>>
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