Dear Sir or Madam
An analysis by The Guardian and Drilled reveals that a new climate tech startup called Onward, which aims to “drive the energy transition”, is owned by the Shell Group. Onward is a rebrand of the former Studio X and has a mission to transform the energy industry and achieve a net-zero future. Studio X was originally a startup designed to encourage innovators to change the future of energy research. In a 2020 press release, Marc Gerrits, Executive Vice President of Global Exploration at Shell, said: “To meet rising global energy demand, oil and gas will be part of the energy mix for decades to come. By capitalising on efficiencies and embracing new technologies, Studio X will be at the forefront of the exploration industry’s evolution.”
The renaming to Onward is described on the start-up’s website as a “platform for change”. The website goes on to say: “Breaking down barriers, democratising data and accelerating the path to energy innovation.” In addition to Onward, Shell has other projects that focus on investing in energy-related start-ups, including GCxN, Shell Ventures and Shell StartUp Engine. These projects allow Shell to act as if it is helping to find solutions rather than just accelerating the climate crisis.
Please check the link for the latest reports, data and information of the 9th calendar week. Until next week I wish you a relaxed but successful week. Yours, Bernd Ahlers.
Data from the Energy Information Administration (EIA) shows U.S. ethanol stocks rose to a near one-year high of 26.022 million barrels last week. Production fell slightly from the previous week, but at 1.078 million barrels (135,000 tons) per day, it was still 75,000 bpd higher than the same time last year. Ethanol exports fell to 77,000 barrels (9,690 tons) per day last week, but even in this situation, ethanol factories appear to be making profitable profit margins. https://ethanolproducer.com/articles/eia-ethanol-production-down-1-stocks-up-2-exports-down-55
Argus has introduced a valuation for B30 ARA range marine biodiesel blends, replacing the calculated fob ARA range blend price. The assessment includes 30 percent used cooking oil methyl ester (Ucome) and 70 percent very low sulfur fuel oil (VLSFO). Trade in marine biodiesel blends in northwestern Europe has been affected by changes in domestic policy in the Netherlands. Modern fatty acid methyl ester blends (Fame) accounted for a significant proportion of total biobunkering in the port center, reflecting the value of renewable fuel tickets created by biofuel admixture. More under: https://www.argusmedia.com/en/news-and-insights/market-opinion-and-analysis-blog/argus-launches-new-b30-ucome-ara-price
A new investigation by Transport & Environment (T&E) in collaboration with The Continent shows Italian oil giant Eni is failing to deliver on its promise to produce thousands of tonnes of biofuel crops. The study raises questions about the credibility of the company’s plan, backed by Italian Prime Minister Giorgia Meloni, to develop biofuels as an alternative to oil and gas. Eni is betting heavily on biofuels and recently signed a major contract with Ryanair to supply so-called sustainable aviation fuels. The Italian government, in turn, relies heavily on Eni as part of its foreign policy ambitions to stem migration flows through economic development in Africa. More under: https://www.transportenvironment.org/discover/uncovered-italian-oil-giants-african-biofuels-gamble-falls-short-of-green-promises/
Cepsa and Bio-Oils begin construction in Spain of the largest second-generation biofuel plant in Southern Europe. This facility, which will flexibly produce 500,000 tons of sustainable aviation fuel (SAF) and renewable diesel (hydrogenated vegetable oil or HVO) annually, will allow the joint venture formed by the two companies to double its current production capacity. The new 2G biofuel plant, together with Cepsa and Bio-Oils’ existing facilities in Huelva, Spain, will form the second largest renewable fuel complex in Europe with a total production capacity of 1 million tons per year. The new facility will be built in Palos de la Frontera. Its development requires an investment of 1.2 billion euros and the creation of 2,000 direct and indirect jobs during the construction and operational phases. https://biofuels-news.com/news/cepsa-and-bio-oils-begin-construction-on-the-largest-2g-biofuels-plant-in-southern-europe/
The Indonesian National Palm Oil Association sees a potential conflict between food and fuel production if demand for biodiesel continues to rise. About 46% of last year’s production of 23.2 million tons went to fuel production, 44% to food production and the rest to cosmetics and other uses. About 58% of last year’s production was exported. The country is now launching a program to renew around 180,000 hectares of palm oil plantations, subsidizing around $3,800 per hectare. https://asia.nikkei.com/Business/Markets/Commodities/Indonesia-palm-oil-firms-warn-of-food-security-risks-as-biodiesel-use-rises
Eidesvik Offshore has partnered with Agalas in Norway to build a state-of-the-art Construction Support Vessel (CSV) for subsea and offshore wind energy operations. Equipped with methanol engines and a battery hybrid system, the vessel will be the most environmentally friendly vessel in the world in its operating segments, Eidesvik Offshore said. More under: https://www.agalas.no/agalas-and-eidesvik-offshore-forms-strong-partnership-collaborate-to-build-new-green-offshore-subsea-vessel/
Petrobras and ArcelorMittal Brasil have signed a memorandum of understanding (MoU) with the aim of exploring potential mutually beneficial business models in the low-carbon economy. The companies will seek to identify commercial opportunities and potential partnerships in Brazil that are consistent with their diversification and decarbonization strategies. https://brazilenergyinsight.com/2024/02/26/petrobras-signs-agreement-with-arcelormittal-for-studies-and-evaluations-of-low-carbon-businesses/
A consortium of 35 organizations from different EU countries are working in the Horizon Europe Innovation Action project entitled “Sustainable Circular Economy Transition: from Industrial Symbiosis to Hubs for Circularity (IS2H4C)” led by the University of Twente (NL). The four-year project aims to establish four industrial centers: in the Netherlands, Turkey, the Basque Country and Germany. Fraunhofer UMSICHT brings its expertise in the field of methanol synthesis and the synthesis of dicarbamates from CO2 to the Turkish hub. https://www.umsicht.fraunhofer.de/en/press-media/press-releases/2024/Hubs-for-the-circular-economy.html
State-owned Egyptian Petrochemical Holding Company has teamed up with state-owned Alexandria National Refining and Petrochemical Company (ANRPC Petroleum) and an unnamed private company to develop a $380 million plant to produce sustainable jet fuel. Construction of the 120,000 tonne per year capacity plant could begin in 2026. It is expected to be built on land owned by ANRPC Petroleum and $280 million will come from international loans. The raw materials to be used were not mentioned in the article. https://biofuels-news.com/news/new-saf-plant-set-to-be-built-in-egypt/
Bioplastics startup PlantSwitch has increased its financial investment by $8 million with participation from major institutional investment firm NexPoint Capital to move forward with its first commercial production facility in North Carolina and expand its team. The company developed what it called a revolutionary bioplastics technology that converts cellulosic agricultural waste streams into a low-cost, compostable plastic resin alternative, with the goal of replacing traditional single-use plastics. More under: https://worldbiomarketinsights.com/plantswitch-raises-8-m-for-bioplastic-tech/
The Energy Information Administration (EIA) says the price of compliance credits for biomass-based diesel and ethanol has fallen about 45% since the beginning of the year. The decline in prices for credits, renewable identification numbers (RINs), is primarily due to lower costs of agricultural commodities compared to petroleum fuels. EIA expect prices to remain subdued due to record high credit generation from renewable diesel production. https://www.eia.gov/todayinenergy/detail.php?id=61463
The Spanish Army is carrying out the 37th Antarctic campaign, which this year is more sustainable than ever thanks to Repsol’s 100% renewable fuels, which provide part of the energy that the Gabriel de Castilla base needs for electricity and heat. The renewable fuels were provided specifically for this mission by the Repsol Technology Lab, the company’s innovation center, as the temperature in the South Shetland archipelago, where the base is located, reaches -30°C. https://www.repsol.com/en/press-room/press-releases/2024/repsol-supplies-renewable-fuelas-antartic-campaign-spanish-army/index.cshtml
Technology group Wärtsilä announced that it will lead a five-year collaboration between more than 200 Finnish companies, industrial organizations, research institutes and universities. The partners of this “Wide & Intelligent Sustainable Energy” (WISE) project will jointly develop innovative concepts for clean energy. The consortium aims to strengthen the Finnish energy sector to become a global leader in energy innovation by building a scalable ecosystem and introducing safe and autonomous zero-emission balancing power generation, the company said. More under: https://www.offshore-energy.biz/wartsila-heads-e200m-collab-to-develop-autonomous-zero-emission-balancing-power-generation/
Chick-fil-A, Inc. has selected Darling Ingredients Inc to convert its used cooking oil into cleaner-burning, renewable transportation fuel. Darling Ingredients’ DAR PRO Solutions service brand will collect used cooking oil from all Chick-fil-A restaurants in the United States and Canada. Each year, Darling Ingredients converts hundreds of millions of pounds of used cooking oil into renewable diesel through its Diamond Green Diesel business. Diamond Green Diesel is estimated to produce more than 700 million gallons of renewable diesel in 2022. The finished renewable fuel can reduce greenhouse gases by up to 85 percent. https://ir.darlingii.com/2022-03-21-Chick-fil-A,-Inc-Chooses-Darling-Ingredients-to-Turn-Used-Cooking-Oil-into-Renewable-Fuel
Argentina’s Ministry of Agriculture, Livestock and Fisheries approved the marketing of yeast strains Saccharomyce cerevisiae GICC03486 and GICC03506 last month. Both show improved capacity for the production of bioethanol from grain fermentation. The decision was made official through Resolution 3/2023 signed by the Minister of Agriculture Fernando Vilellea and published in the Official Gazette on March 27th. The official document states that after an analysis carried out by both the National Agri-Food Health and Quality Service (Senasa) and the ad honorem Technical Advisory Committee on the use of genetically modified organisms, “no scientific objections were identified from this point of view “the nutritional suitability of humans and animals”. https://ethanolproducer.com/articles/argentina-approves-gm-yeasts-for-ethanol-production