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🗓 Every Monday morning, we debrief what matters from the week in climate business, tech, and policy — all in a 5-minute read.

In today’s brief:

• First Solar acquires high-efficiency tandem PV technology

• EPA challenges the power industry to prove viability of carbon capture

• Redaptive lands $50m for energy-as-a-service

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📈 Business & Markets

• First Solar is acquiring Evolar AB, a Swedish manufacturing startup, for $38 million to advance its development of high-efficiency tandem PV technology. The deal includes a potential additional payment of $42 million based on future technical milestones. Read more.

• State Street's entry into providing back-office services for carbon-credit exchange-traded funds is poised to propel the booming carbon market into the mainstream, facilitating easier investment and trading for big investors. Read more.

• The Department of the Treasury and the Internal Revenue Service have provided guidance allowing solar project developers to claim a 10% bonus credit for using "domestic content" in their projects, including made-in-USA trackers, solar panels, inverters, and more, with the requirement that solar panels must have domestic solar cells to receive the full credit. Read more.

• March 2023 marked a significant milestone for the global plug-in electric car market, with over 1 million units sold, including more than 800,000 all-electric cars alone, representing a 28% increase compared to the previous year. Read more.

• Chevy's decision to discontinue the Bolt raises concerns about the EV transition, despite its record-breaking sales. While the Bolt's charging speed falls short of consumer demands, the puzzling choice not to develop a Bolt on the faster-charging Ultium platform leaves enthusiasts questioning GM's strategy. Read more.

• California's Advanced Clean Fleets rule has haulers and manufacturers grappling with the collision of regulation-driven demand and limited supply of battery-electric trucks, foreseeing challenges in charging infrastructure and technological advancements. Read more.

• BlackRock's Larry Fink faces criticism as Wall Street's climate efforts stumble amid opposition from the 'anti-woke' movement. Read more.

🏛 Policy & Politics

• Texas, known for its clean energy growth, has some lawmakers arguing for more fossil fuels based on reliability concerns, despite evidence that gas power plants were the primary cause of the state's electricity blackout crisis. Read more.

• The EPA is challenging the power industry to prove the viability of carbon capture and storage (CCS) as a solution for cutting climate pollution. While proponents claim its effectiveness, experts remain skeptical and suggest a shift to renewable energy may be more economical. Read more.

• Support for nuclear power in the United States has reached its highest level in a decade, with 55 percent of U.S. adults backing its use, reflecting a growing popularity as the country aims to decarbonize. Read more.

• Environmental activists on the left are pushing back against President Joe Biden's focus on carbon capture and storage, arguing that it allows industries to continue polluting instead of reducing emissions. Read more.

• Former landfill sites in U.S. cities, once considered useless, are being transformed into solar parks, utilizing vacant land for renewable energy and helping cut emissions. Read more.

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🚀 Startups & Tech

• A study conducted by the Brattle Group for Google reveals that virtual power plants (VPPs) can provide the same level of resource adequacy as natural gas peaker plants and utility-scale batteries, but at a significantly lower cost of 40% to 60%. Read more.

• The Biden Administration plans to allocate a significant portion of the funds from recent infrastructure laws to clean energy projects at former coal mines, including the exploration of geothermal energy via abandoned coal mines. Read more.

• Companies like Fisker, Lucid, and Rivian, despite facing challenges and missing delivery estimates, had significant valuations before experiencing setbacks, indicating that the EV industry may now undergo a phase of consolidation and separating the winners from the losers. Read more.

• Denver-based startup Redaptive has raised an additional $50 million in a Series E extension funding round, bringing the total for the Series E round to $250 million. The company generates revenue through its energy-as-a-service product, data software, and project management services. Read more.

• Chemix, based in Sunnyvale, California, has introduced a new AI-based platform called MIX for accelerated battery development in the electric vehicle (EV) industry. MIX aims to enhance battery performance, expedite development processes, and discover more sustainable battery chemistries. Read more.

• San Jose-based recycling technology developer, Olyns, has secured $4 million in Series A funding. The investment will enable Olyns to accelerate the development of its AI-driven technology and expand its recycling and media network. Olyns specializes in container collection through its innovative Cubes, which utilize artificial intelligence algorithms to identify various containers. Read more.

• BrainBox AI, a developer of autonomous building technology, has secured a $20 million investment from the Government of Québec and ABB, a returning lead investor and global partner. The funding will be used to further develop BrainBox AI's decarbonization technology and support its global commercialization initiatives. Read more.

🌎 Society & Impact

• Urban trees combat climate change and promote resilience by reducing heat, preventing runoff, and improving air quality. Read more.

• Climate change skepticism focused on challenging policy solutions rather than denying or undermining climate science is on the rise, with evidence skepticism declining, according to a multi-country media analysis. Read more.

• The growing popularity of electric vehicles (EVs) is posing a new challenge: limited access to public chargers, leading to potential conflicts over parking spaces. Read more.

• Climate change is causing the thawing of the "glue" that holds the rock faces of the Alps together, leading to an increased risk of rockfall and impacting mountaineers. The Aiguille du Midi peak in the French Alps serves as a unique laboratory to observe the effects of climate change on this iconic mountain range. Read more.

• Certain cities and states in the United States are expected to experience the worst impacts of climate change. Read more.

📊 Chart of the Week

In 2022, wind and solar energy helped Texans save over $11 billion in wholesale electricity rates, marking a nearly 300% increase compared to previous years. Since 2010, the total energy savings from wind and solar have reached $31.5 billion, with the potential for further growth as these renewable energy sources continue to expand in the state's power grid. Read more.

📚 Good Reads & Listens

• Energize Ventures’s Electrifying Everything: 2023 Edition, with top five themes and top 30 software innovators. Read more.

• Chris Castro, Chief of Staff of the Office of State and Community Energy Programs at the DOE, discusses the IRA and lesser-known initiatives managed by the DOE that are helping communities across the country decarbonize. Listen here.

• Invest in yourself and the world? Join the movement and subscribe to For What It’s Worth (FWIW), the free, 5-minute weekly newsletter, direct to your inbox each Thursday. Subscribe here.

• Stay on top of the latest mining and energy news with The Next Big Rush. Mining news with an ounce of humour. Subscribe here.

🐦 Tweet of the Week

That's all for now!

If you have any interesting projects or ideas, please reach out by responding to this email or by sending a DM on Twitter: @climaterick

As always, thanks for reading, and see you next time.