Latest news with #ClimateInvestment
Associated Press
03-06-2025
- Business
- Associated Press
Qnergy Sells Carbon Credits to Climate Investment from Landfill Methane Abatement Project in Utah
This carbon credit sale marks a milestone for Qnergy's CLEAR program and its partnership with Climate Investment. OGDEN, UT, UNITED STATES, June 3, 2025 / / -- Qnergy, a leading methane abatement solutions provider to the oil and gas and waste management industries, has successfully completed the sale of high-quality carbon credits to Climate Investment (CI), a specialist decarbonization investor. This transaction marks a major milestone in Qnergy's expansion into the voluntary carbon market and a full-circle moment for both companies, as CI is also a Qnergy investor. 'Climate Investment (CI) selected Qnergy's landfill gas abatement credits based upon their high quality. Qualified under the American Carbon Registry, Qnergy's credits demonstrate excellent measurability and permanence, clear additionality and the project delivers strong ancillary benefits for the local community. As a long-term investor in Qnergy, CI is delighted to see the company begin to address methane abatement in the landfill space. CI will retire the credits to offset its residual emissions as part of its GHG reduction strategy.' Matthew Harwood, Managing Director, Impact & LP Engagement at CI The credits were generated under CLEAR, Qnergy's comprehensive landfill methane abatement and carbon credit generation initiative. The CLEAR program targets closed and unregulated landfills and is designed to reduce operational liability through real, measurable emissions reductions. The program enables asset monetization via verified carbon credits and revenue sharing. Qnergy and Utah's Weber County Department of Economic Development launched a project to address methane emissions from a closed landfill, which is now classified as a CLEAR project. At the heart of this project is the TORCH4, a methane destruction system powered by Qnergy's highly reliable Free Piston Stirling Engine. This TORCH4 installation operates continuously on previously stranded low-methane landfill gas and generates carbon credits by eliminating methane emissions. The project is generating verified carbon credits through the American Carbon Registry under the Landfill Methane Capture and Combustion protocol. These credits demonstrate: Clear additionality (carbon credit revenue is the only funding source), permanent methane destruction, and meaningful community co-benefits, including odor reduction and improved safety at the recreational park. Ory Zik, Qnergy's CEO, said, 'Climate Investment has been instrumental in helping Qnergy reach this point. The sale of these CLEAR-generated carbon credits represents a milestone for both companies. Kudos to our teams for getting this done.' As Qnergy scales the CLEAR initiative to other landfill sites, this project highlights a replicable model for turning closed landfills into assets, supporting both local communities and global sustainability goals. About Climate Investment: Climate Investment (CI) is an independently managed specialist investor focused on driving industrial decarbonization. The firm provides early-stage through growth equity capital to innovative companies and partners with large corporations, governments and non-profit organizations to scale their market adoption and impact. Operational since 2017, CI has invested in over 40 climate tech companies across energy, transportation, buildings and industry that have collectively delivered 95 MT CO2e of cumulative greenhouse gas reduction in the period 2019-2023. Climate Investment was founded by member companies of the Oil & Gas Climate Initiative ('OGCI'). They have invested in Climate Investment funds and deployed many of its portfolio innovations, supporting their early commercial development. Visit CI Media contact: Jason Dela Cruz, [email protected] About Qnergy: Qnergy provides solutions for methane mitigation, converting low-grade, polluting methane into valuable electricity, heat, and clean air. Powered by our innovative Free Piston Stirling Engine, we deliver scalable, cost-effective, and reliable solutions for methane emissions sources worldwide. With thousands of units already deployed, Qnergy has abated millions of tonnes of CO2e, enabling customers to achieve net-zero targets while maintaining profitability. Jackie Copeland Qnergy [email protected] Visit us on social media: LinkedIn Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
14-05-2025
- Business
- Yahoo
Gavin Newsom Wants To Make the Country's Most Expensive Gas Even More Expensive
California Gov. Gavin Newsom released his revised state budget proposal for FY 2025–2026 on Wednesday. After having a roughly balanced budget in January, the state must now "close an estimated $12 billion shortfall to balance the budget" because of President Donald Trump's tariffs, which have "driven a downgrade in both the economic and revenue forecasts" and increased spending for the state's Medicaid program. Despite this shortfall, Newsom's budget calls for maintaining or extending expensive government programs, including the state's cap-and-trade program, which was set to expire in 2030. Launched in 2013 to reduce greenhouse gas emissions (GHG) in the state, the program sets a GHG emissions cap for "covered entities," which includes electricity generators, oil refineries, and manufacturing facilities. Entities must comply with this annual cap either by voluntarily reducing their GHG emissions or by purchasing allowances (essentially permits to emit 1 ton of carbon dioxide equivalent) at quarterly auctions. Most of the money generated from these auctions goes to the California Climate Investments program, which has funded $12.8 billion worth of environmental and energy projects since 2014. The California Air Resources Board estimates that these projects have prevented over 1,000 premature air pollution-related deaths. At the same time, cap-and-trade has been prohibitively expensive for consumers. While some auction funds go toward utility bill rebates, the program has increased energy costs for Californians. The state's Legislative Analyst's Office estimates that it adds 23 cents per gallon to gas prices, which could increase to 74 cents per gallon if the state decides to pursue more aggressive GHG reductions. The state currently has the highest gas prices in the country. Wayne Winegarden, senior fellow at the Pacific Research Institute, tells Reason that the program is a "bad tradeoff." Compared to when California launched the cap-and-trade program, "total energy related CO2 emissions in California is down 6.2%. This is around the national average (5.4% decline). It is way behind states like West Virginia that saw a 14% decline." While some Climate Investment money has funded environmentally beneficial projects like wetland restorations, the program has mostly prioritized funding for politically preferential projects and social programs. State law mandates that 25 percent of auction revenues ($7.4 billion since 2014) go toward California's high-speed rail project, which, after nearly two decades has yet to transport a single passenger. In his budget proposal, Newsom calls for "at least $1 billion annually" to be provided for the project. Another 20 percent of program revenues ($2.2 billion since 2014) are mandated to fund the state's Affordable Housing and Sustainable Communities Program. The program has over 13,000 affordable housing units under contract and has reduced GHG emissions in the state at a price of $4,100 per metric ton of carbon dioxide (CO2). The state's urban tree plantings, meanwhile, have reduced GHG emissions in California for a cost of $54 per metric ton of CO2. The program's ineffectiveness is further compounded by the underlying policy issues that stymie environmental progress in the Golden State. Despite throwing $1.5 billion toward wildfire prevention through the cap-and-trade and additional money in annual budgets, the state continues to experience damaging and expensive wildfire seasons because of stringent environmental regulations under the California Environmental Quality Act (CEQA). Getting a restoration project approved "often involves years of analysis, public comment, and litigation before projects can even begin," writes Shawn Regan, vice president of research at the Property and Environment Research Center, in City Journal. These delays increase fire risk and put more people in harm's way. "In 2020, for example, the Berry Creek area in California was devastated by the North Complex Fire while critical thinning projects were mired in CEQA reviews. The fire killed 16 people," explains Regan. State and private land managers in California have set a goal to conduct prescribed burns on 400,000 acres annually by this year, reports The New York Times. In 2023, the most recent year in which data are available, federal and state agencies and private property owners completed prescribed burns on close to 260,000 acres. As California has looked to reduce its energy sector emissions through renewable energy projects and mandates—which have forced Californians to pay some of the highest electricity rates in the country—the state has made it illegal to build clean and reliable nuclear power plants. The state's remaining nuclear power plant—Diablo Canyon—generates about 9 percent of California's electricity and is scheduled to shut down in 2030 unless state lawmakers step in. In a little over a decade, California's cap-and-trade program has increased energy costs for the state's residents while doing little to significantly reduce GHG emissions. With a $12 billion budget shortfall, it could be time for California lawmakers to reevaluate the program. "There are simply better ways to reduce emissions without imposing such a large cost on the state," says Winegarden. The post Gavin Newsom Wants To Make the Country's Most Expensive Gas Even More Expensive appeared first on
Yahoo
05-03-2025
- Business
- Yahoo
Zeitview Secures $60M to Advance AI-Powered Inspections of Global Critical Infrastructure
After doubling growth to 200,000+ assets inspected across 80 countries in 2024, Zeitview accelerates investment in Insights, its Visual AI platform Climate Investment leads the capital raise, with participation from existing investors Zeitview's platform services multiple infrastructure categories, including solar, wind, utilities, properties and telecom LOS ANGELES, March 05, 2025--(BUSINESS WIRE)--Zeitview, the leader in visual AI for critical infrastructure, announces a capital raise of $60 million led by Climate Investment, with participation from current investors Valor Equity Partners, Union Square Ventures, Upfront Ventures, Euclidean Capital, Energy Transition Ventures, Hearst Ventures and Y Combinator. The market leader in Visual AI for critical infrastructure, Zeitview's software improves inspection times and cost requirements while addressing challenges posed by shortages in skilled labor and increased inspection frequencies. Unlike solution providers focused on single asset classes, Zeitview's platform serves multiple critical infrastructure categories, including solar, wind, utilities, properties and telecom, allowing it to be a sole partner for asset owners operating across different sectors. "The critical infrastructure that powers the global economy faces a perfect storm of rising danger, strain and cost," said Zeitview Founder & CEO Dan Burton. "Zeitview helps the biggest enterprises in critical infrastructure prevent catastrophic failure, assess and predict risk and prioritize maintenance spend." "With this capital, Zeitview will accelerate our buildout of Visual AI that is instant, predictive and unlimited," said Burton, "and increase investment in our Insights software platform to support our customers across their critical infrastructure assets, throughout their lifecycle, anywhere in the world." Patrick Yip, Managing Director and Head of Growth Equity at Climate Investment said: "Climate Investment invests in leading, differentiated decarbonization technologies with multi-sector application across energy-intensive industries. We are excited to be adding Zeitview to this group to support its next stage of growth. The investment will help accelerate deployment of Zeitview's platform across its current infrastructure categories, while allowing for expansion into new markets through Climate Investment's unique global network of investors, many of which are already customers." "Infrastructure owners, operators and OEMs need inspection solutions that can serve their entire portfolio – spanning multiple asset types, operating globally and supporting the full asset lifecycle," said Mike Bishop, Investment Director at Climate Investment, who will join Zeitview's Board of Directors. "Zeitview uniquely addresses this need through its visual data platform, combining analytics with deep domain expertise to deliver better, faster and more cost-effective asset management solutions." As global demand for reliable energy, communication and facility infrastructure surges in an increasingly volatile and disaster-prone world, Zeitview is committed to equipping enterprises with visual AI to enhance asset resilience and efficiency. After more than doubling infrastructure inspections to 200,000 assets across 80 countries in 2024, Zeitview has demonstrated the scale to deliver on the most expansive portfolios of critical infrastructure assets. About Zeitview Zeitview is the market leader in Visual AI for critical infrastructure. With over 200,000 assets inspected across 80 countries in 2024, Zeitview helps the biggest enterprises in critical infrastructure prevent catastrophic failure, assess and predict risk, and prioritize maintenance spend. Visit to learn more. About Climate Investment Climate Investment (CI) is an independently managed specialist investor focused on driving industrial decarbonization. The firm provides early-stage through growth equity capital to innovative companies and partners with large corporations, governments and non-profit organizations to scale their market adoption and impact. Operational since 2017, CI has invested in over 40 climate tech companies across energy, transportation, buildings and industry that have collectively delivered 95 MT CO2e of cumulative greenhouse gas reduction in the period 2019-2023. Climate Investment was founded by member companies of the Oil & Gas Climate Initiative ("OGCI"). They have invested in Climate Investment funds and deployed many of its portfolio innovations, supporting their early commercial development. Visit View source version on Contacts Zeitview Media Contact Rebecca Wilson at Climate Investment Media ContactJason Dela Cruz at marketingci@ Sign in to access your portfolio
