Latest news with #cleantech
CTV News
2 days ago
- Business
- CTV News
Leading B.C. clean tech firm calls for more funding for carbon capture
Inside Svante's massive Burnaby manufacturing plant, large robotic arms are moving piles of specially engineered filters. Svante describes their technology as a generational leap in carbon capture – the process of capturing CO2 emissions and burying them deep underground. 'We're producing the components that allow the capture of CO2 out of smokestacks and out of the air,' says Brett Henkel, the company's senior vice president of business development. He co-founded Svante after quitting his previous job to research a way to solve a major challenge in carbon capture – separating CO2 from nitrogen. 'It's been a worldwide challenge to crack the nut on how to separate those two molecules in the least expensive way possible,' says Henkel. Svante is confident it's cracked the nut. Eighteen years after Henkel began experimenting in his garage, the pioneering clean tech firm employs more than three hundred people and has attracted plenty of public and private sector investment. 'Just look at the ownership of our company. We have brand names like Samsung, 3M, Suncor, Cenovus, Chevron, Temasak, a global investment fund out of Singapore,' he says. The B.C. and federal governments are keen on carbon capture to help them reach their emissions targets. Combined, B.C. and the Canada Growth Fund have committed more than $140 million in funding for Svante. Svante is targeting hard-to-tackle emissions from heavy industry like steel, concrete, pulp and paper. One of Svante's pilot projects is at the Lafarge Cement Plant in Richmond. It's been capturing one tonne of CO2 from the plant every day. Henkel says the pilot has been successful and it's allowing them to design commercial plants on a large scale. Svante is hoping to build its first carbon capture project with Mercer's Peace River pulp mill in Alberta. They're in the engineering phase now, and it's estimated the project would cost more than half a billion dollars. The enormous cost of carbon capture has long been a criticism from environmentalists. Carbon capture has been around for decades, but the results have been underwhelming. Plus, critics say carbon capture shouldn't be a substitute for transitioning away from fossil fuels. 'We've been spending billions of dollars around the world since the 1990s without too much effect…it simply hasn't worked,' says Chris Bataille, of Columbia University's Centre on Global Energy Policy. Bataille adds that CCUS (carbon capture, utilization and storage) hasn't worked because we've been chasing the wrong technological methods, and carbon pricing and other greenhouse gas regulations haven't been strong enough. Despite the challenges faced in the sector, Bataille and companies like Svante are calling for more public and private investment to scale up Canadian carbon capture technology and make it commercially viable around the world. 'I believe we eventually need a policy framework that results in decarbonization of industry which could include a higher carbon price,' says Henkel. He adds getting projects going now would create much-needed high-paying Canadian jobs. Henkel compares this shift to decarbonize industries to another historical turning point. 'We figured out how not have to garbage on our front yard, we figured out how to have a sewage system. I think this is another thing we can figure out,' he says.
TechCrunch
6 days ago
- Automotive
- TechCrunch
Redwood Materials launches energy storage business and its first target is AI data centers
Tucked between two massive buildings in the hills of the Nevada desert, 805 retired EV batteries lie in a neat formation, each one wrapped in a nondescript white tarps — and hiding in plain sight. A passerby might not realize that it's the largest microgrid in North America, that it's powering a 2,000 GPU modular data center for AI infrastructure company Crusoe, or that it is Redwood Materials co-founder and CEO JB Straubel's next big act. Redwood Materials announced Thursday during an event at its Sparks, Nevada facility it was launching an energy storage business that will leverage the thousands of EV batteries it has collected as part of its battery recycling business to provide clean power to companies, starting with AI data centers. The new business, called Redwood Energy, is kicking off with partner Crusoe. The old EVs, which are not yet ready for recycling, store energy generated from an adjacent solar array. From here the system, which generates 12 MW of power and has 63 MWh of capacity, sends power to a modular data center built by Crusoe, the AI infrastructure company best known for its large-scale data center campus in Abilene, Texas, the initial site of the Stargate project. Redwood said it recovers more than 70% of all used or discarded battery packs in North America. It has apparently been stockpiling batteries that aren't ready for recycling, with more than 1 gigawatt-hour worth in its inventory already. In the coming months, it expects to receive another 4 gigawatt-hours. By 2028, the company said it plans to deploy 20 gigawatt-hours of grid-scale storage, placing it on track to become the largest repurposer of used EV battery packs. To illustrate the commitment of Redwood — and by extension, Straubel — the company's entire event from the lights and DJ to the food and big screen, were powered by the microgrid. Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW 'We wanted to go all in,' Straubel said, breaking into a wide toothy smile. Splashy effects for the event aside, the microgrid set up with Crusoe is not a demonstration project. Straubel said this is a revenue-generating operation, and one that is profitable. And even more of these will be deployed with other customers this year. 'I think this has the potential to grow faster than the core recycling business,' he said. Redwood Materials has been on an expansion tear in recent years. The company, which has raised $2 billion in private funds, was founded in 2017 by Straubel, the former Tesla CTO and current board member to create a circular supply chain. The company started by recycling scrap from battery cell production as well as consumer electronics like cell phone batteries and laptop computers. After processing these discarded goods and extracting materials like cobalt, nickel and lithium that are typically mined, Redwood supplies those back to Panasonic and other customers. But the company has expanded beyond recycling and into cathode production. Redwood generated $200 million in revenue in 2024. Much of that comes from the sale of battery materials like cathodes. It's footprint has grown too, and well beyond its Carson City, Nevada headquarters as it locked up deals with Toyota, Panasonic, and GM, started construction on a South Carolina factory, and made an acquisition in Europe. Redwood Energy is the next step, one that isn't tied to setting up its systems to be off grid. The retired EV batteries can be powered by wind and solar, or it can be tied to the grid. In the case of the Crusoe project, it's powered by solar. 'There's no green intent required here,' CTO Colin Campbell said during a tour of the microgrid. 'It's a good economic choice that also happens to be carbon free.' For over a decade, companies have been promising to build grid-scale storage from used EV batteries, but they've only materialized in small amounts. Redwood, which got its start as a battery materials and recycling company, is creating a new business line that promises to deliver gigawatts of much needed energy storage in just a few years. 'This really demonstrates how economical the waste hierarchy actually is,' Jessica Dunn, a battery expert at the Union of Concern Scientists, told TechCrunch. That a large recycler like Redwood recognized the profit potential in reprised EV batteries shows 'where this end of life market will go,' she added. Redwood was founded to build a supply chain that could handle the predicted wave of used EV batteries that will hit the market. But that wave hasn't materialized quite as quickly as some predicted. Repurposing batteries is a clear business opportunity for Redwood, but it might also be a business imperative. 'If Redwood didn't enter the repurposing market, then they wouldn't get a share from the repurposed battery. They'd have to wait the five, ten, 15 years until they retired.' she said. In the meantime, other companies would be able to sell the batteries for grid-scale storage, cutting Redwood out of years of revenue. Straubel acknowledged this, noting in an interview that in many ways Redwood Materials started a bit early. 'We started really early, and in a way we started Redwood almost too early,' he said, noting the company initially was collecting consumer batteries and production scrap ahead of the coming wave of EVs. 'Right now, the recycling market is mostly manufacturing scrap, consumer electronics, and EV batteries that have failed under warranty,' Dunn said. That has been enough for Redwood to process over 20 gigawatt-hours annually, but it pales in comparison to the 350 gigawatt-hours in EVs today and the 150 gigawatt-hours expected to hit the road every year. Redwood currently has a recycling facility at its 175-acre campus in Sparks, Nevada, and it's developing a 600-acre facility in Charleston, South Carolina. The latter will remanufacture cathode and anode copper foil, both of which contain critical minerals that the U.S. would prefer stayed within its borders. The company previously said that it will be capable of making 100 gigawatt-hours annually of cathode active material and anode foil by the end of this year. By the end of the decade, it expects production to hit 500 gigawatt-hours.
Globe and Mail
6 days ago
- Business
- Globe and Mail
Thermal Energy Secures $1 Million Follow-on Order for Heat Recovery Project from Global Pharmaceutical Leader
Canadian cleantech firm to provide equipment for heat recovery project at one of the Fortune 500-listed customer's U.S. manufacturing facilities Ottawa, Ontario--(Newsfile Corp. - June 26, 2025) - Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) (" Thermal Energy" or the "Company"), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, today announced a custom equipment order valued at just over $1 million from one of the world's largest pharmaceutical companies. This order stems from a Project Development Agreement, which led to Thermal Energy's largest engineering contract to date, announced on February 11, 2025. The equipment ordered includes the Company's proprietary FLU-ACE® Heat Recovery System. All figures are shown in CAD. "We are proud to continue our partnership with this global pharmaceutical leader and further support their sustainability initiatives through our proven heat recovery technology," said William Crossland, CEO of Thermal Energy International. "As we disclosed back in February, this customer prefers to approve this project in stages. Having already completed the $500,000 in detailed engineering for this project, we are pleased to receive this follow-on order of $1 million for equipment, bringing our total order value to date to approximately $1.5 million for this project. This latest order is also a testament to the strength of our engineering expertise and the reputation our proven technologies have for driving energy efficiency gains and reducing carbon emissions. Our solutions align well with this customer's significant carbon emission reduction targets and commitment to the United Nation's Race to Zero campaign. We look forward to fostering a strong relationship with this customer, which has several manufacturing sites around the world that have the potential to benefit from our technologies." The proprietary equipment ordered, is part of a multi-stage heat recovery project that, when completed, is expected to reduce the site's natural gas usage and related CO₂ emissions by 12.5%, eliminating up to 2,038 metric tons CO₂ per year. ENDS Notes to editors About Thermal Energy International Inc. Thermal Energy International Inc. provides energy efficiency and emissions reduction solutions to Fortune 500 and other large multinational companies. We save our customers money by reducing their fuel use and cutting their carbon emissions. Thermal Energy's proprietary and proven solutions can recover up to 80% of energy lost in typical boiler plant and steam system operations while delivering a high return on investment with a short, compelling payback. Thermal Energy is a fully accredited professional engineering firm with engineering offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol, UK, with sales offices in Canada, UK, USA, Germany, Poland, and Italy. By providing a unique mix of proprietary products together with process, energy, and environmental engineering expertise, Thermal Energy can deliver unique, site-specific turnkey and custom engineered solutions with significant financial and environmental benefits for our customers. Thermal Energy's common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG and on the OTCQB under the symbol TMGEF. For more information, visit our investor website at or company website at and follow us on Twitter at Cautionary Statements This press release contains forward-looking statements relating to, and amongst other things, based on management's expectations, estimates and projections, the anticipated effectiveness of the Company's products and services, the timing of revenues to be received by the Company, the expectation that orders in backlog will become revenue, the anticipated benefits of the Company's current efforts at training and business improvement efforts, opportunities for growth, the Company's belief that it can capitalize on opportunities, the size of markets and opportunities open to the Company. Information as to the amount of heat recovered, energy savings and payback period associated with Thermal Energy International's products are based on the Company's own testing and average customer results to date. Statements relating to the expected installation and revenue recognition for projects, statements about the anticipated effectiveness and lifespan of the Company's products, statements about the expected environmental effects and cost savings associated with the Company's products and statements about the Company's ability to cross-sell its products and sell to more sites are forward looking statements. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, some of which are outside of the Company's control, could cause events and results to differ materially from those stated. Fulfilment of orders, installation of product and activation of product could all be delayed for a number of reasons, some of which are outside of the Company's control, which would result in anticipated revenues from such projects being delayed or in the most serious cases eliminated. Actions taken by the Company's customers and factors inherent in the customer's facilities but not anticipated by the Company can have a negative impact on the expected effectiveness and lifespan of the Company's products and on the expected environmental effects and cost savings expected from the Company's products. Any customer's willingness to purchase additional products from the Company and whether orders in the Company's backlog as described above will turn into revenue is dependent on many factors, some of which are outside of the Company's control, including but not limited to the customer's perceived needs and the continuing financial viability of the customer. The Company disclaims any obligation to publicly update or revise any such statements except as required by law. Readers are referred to the risk factors associated with the Company's business as described in the Company's most recent Management's Discussion and Analysis available at # # # Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Al Arabiya
20-06-2025
- Business
- Al Arabiya
Britain signs $2.7 bln investment partnership deal with Bahrain
Britain said on Friday that it signed a new partnership with Bahrain that will see 2 billion pounds ($2.69 billion) of investment into financial services, clean energy, manufacturing and technology. 'This 2 billion pounds commitment is yet another major vote of confidence in the UK economy, backing the key growth sectors we've identified in our upcoming modern Industrial Strategy,' business minister Jonathan Reynolds said in a statement. ($1 = 0.7424 pounds)
Entrepreneur
14-06-2025
- Business
- Entrepreneur
The Battery Boss: Vishal Gupta, Co-Founder & CTO, MaxVolt Energy
"Tomorrow belongs to those who innovate responsibly and anticipate evolving needs," he says. For MaxVolt, that means redefining energy consumption with solutions that are efficient, intelligent, and kind to the planet. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In an industry cluttered with buzzwords and greenwashed ambition, Vishal Gupta, Co-Founder & CTO, MaxVolt Energy Industries Limited is doing the hard work: building smarter lithium batteries, rewriting the rules of energy infrastructure, and stacking up a growth story that reads more like an organisation's dream than a spreadsheet. MaxVolt is not just keeping up with India's sustainable development goals; it's designing the fast lane. The company's lithium batteries power electric vehicles, energy storage systems, medical devices, and consumer electronics, with the kind of technical muscle that makes competitors glance sideways. "We've integrated active balancer technology, a superior thermal management system, and an intelligent battery control mechanism," says Gupta, clearly proud but practical. It's this holy trinity of innovation that boosts safety, enhances longevity, and dials up the overall efficiency of their offerings. But the real kicker? Their latest showpiece—the smart lithium inverter series. These future-proof wall-mounted inverters aren't just sleek; they're battery agnostic. Whether lithium or lead, MaxVolt's inverter doesn't flinch. It's like the benchmark of power backup: smarter, leaner, and practically plug-and-play. Still, all the tech in the world won't matter if it ends up in a landfill. That's why MaxVolt is putting just as much muscle behind lithium battery recycling as they are in production. Their R&D department isn't content to follow—it's paving the way for a circular battery economy, reclaiming material value and reducing environmental fallout. "We're working to create a holistic ecosystem that includes production, usage, reuse, and recycling," Gupta explains. "It's about shaping the sustainable energy infrastructure India needs—not just today, but decades from now." Of course, the clearest sign that MaxVolt is doing something right isn't in the lab—it's in the ledger. FY 2023-24 saw revenue skyrocket by 253 per cent to INR 48.37 crore, with profits of INR 5.21 crore. And just when you think that's peak performance, MaxVolt tops itself: FY 2024-25 revenue crossed INR 107 crore. That's not growth. That's warp speed. Their impact isn't just economic. With operations now touching over 19,000 pin codes and a staff that's grown to more than 170 employees, MaxVolt is not only making clean tech accessible, but local as well. Their batteries are fueling OEMs, solar farms, EV fleets, and consumers across India, with tech robust enough for grid-scale storage but smart enough for your living room. How does a company stay relevant in a space where yesterday's cutting-edge is tomorrow's obsolete? MaxVolt's answer is deceptively simple: innovate or die. "We've built a culture of cross-functional collaboration, supported by advanced ERP systems," Gupta says. But it's the R&D division that he keeps circling back to. For Gupta, innovation isn't a quarterly goal, it's a survival trait. His team constantly tweaks, tests, and tunes in to international trends and domestic demands alike. Yet, challenges persist—and not the kind that come with a line item. India's dependence on imported lithium cells, mostly from China, could have clipped MaxVolt's ambitions early. But instead of whining about global supply chains, they did what engineers do best; they got to work. "We tackled this with in-house prototyping, strategic partnerships, and a significant R&D push," Gupta says. Their upcoming lithium battery recycling facility is a masterstroke, poised to cut import reliance and elevate lifecycle management standards across the board. So where does the road lead from here? According to Gupta, it leads through expansion. Phase 2 of MaxVolt's production plan is underway, aimed at scaling operations to over 6,000 battery packs annually. They're also gearing up to meet rising demand for ESS batteries in solar energy projects—an area Gupta says will drive high margins. "Our focus on grid-scale and distributed solar clients is setting the stage for long-term profitability," he adds. Looking further ahead, MaxVolt's playbook includes international partnerships, export-ready infrastructure, and deeper penetration into the Indian EV and solar markets. But it's not just about shipping more batteries—it's about shipping better ones. Next-gen battery tech with improved energy density and lower cost is already on the drawing board. What does Gupta see when he looks at the horizon? Responsibility—and a lot of work. "Tomorrow belongs to those who innovate responsibly and anticipate evolving needs," he says. For MaxVolt, that means redefining energy consumption with solutions that are efficient, intelligent, and kind to the planet. Factsheet: • Year of inception: 2019 • No. of employees: 170 – 200 • Revenue for FY 2024-25 – 107 cr • External funding received so far: $1.5M • Any IP developed/patented (if more than one, names and numbers): AIS 156 Compliance Certification
