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- ⚡️ Rising grid battery capacity
⚡️ Rising grid battery capacity
Plus, Rivian's ultimate truck and climate travel lessons
Good morning. This is your debrief on what’s driving the clean energy transition.
In today’s email:
The remarkable rise of California’s grid battery capacity
Rivian’s quest to build the ultimate truck
Climate travel lessons from this summer
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A few good links
⚡️ Clean Energy
Biden Administration Offers Fewest Offshore Oil and Gas Leases in History - A new plan to sell offshore drilling rights will be limited to three spots, all in the Gulf of Mexico. (via New York Times)
US aims to create nuclear fusion facility within 10 years, Energy chief Granholm says - U.S. Energy Secretary Jennifer Granholm says nuclear fusion is a pioneering technology and the Biden administration wants to harness it as part of the transition to clean energy. (via AP News)
Shell CEO comes under pressure from within on renewables shift - Shell CEO Wael Sawan has come under pressure over his strategy from within the energy company after two employees issued a rare open letter urging him not to scale back investments in renewable energy, sparking an internal debate. (via Reuters)
Chart: The remarkable rise of California’s grid battery capacity - In 2020, California had 500 megawatts of grid battery storage. Now, just three years later, it has over 5,000 megawatts. (via Canary Media)
🚙 Mobility & Transport
EVgo transitions to kWh pricing model throughout the US - Fast charging network EVgo has announced a shift in its pricing model that expands kilowatt-hour (kWh) charging rates to each... (via Electrek)
EV tires wear down fast, and that’s a pollution problem - Swapping fossil-powered cars for EVs is a win for cutting CO2 emissions, but it may exacerbate particulate pollution from wear and tear on tires. (via Canary Media)
Rivian’s Quest to Build the Ultimate Truck Burns Through Billions - After a splashy debut, the EV maker has struggled to keep production up and costs down—and has been losing $33,000 for every vehicle sold. (via WSJ)
Trump-voting states are less likely to embrace electric vehicles - EVs are bound up in 2024 presidential politics. (via Axios)
Rivian’s Quest to Build the Ultimate Truck Burns Through Billions - After a splashy debut, the EV maker has struggled to keep production up and costs down—and has been losing $33,000 for every vehicle sold. (via WSJ)
Ford pauses work on $3.5 bln battery plant in Michigan - Citing concerns about its ability to competitively operate the plant at a time when it remains locked in broader contract negotiations. (via Reuters)
🏠 Buildings & Cities
This report highlights the growing issue concerning the cost, affordability, and general insurability of many locations due to the climate hazards. (via FirstStreet)
‘Unpredictability in the System,’ and Other Travel Lessons From the Summer of ’23 - Climate change upheavals brought on a season of extremes for travelers in the U.S., Europe and beyond. One thing is clear: Travel is changing. (via New York Times)
Startup funding
Amperon raised $20 million from Energize Capital, the D. E. Shaw group, Veriten, HSBC Asset Management, Ørsted, and another strategic utility partner to work on accelerating energy analytics and grid decarbonization.
Mapbox raised $280M from SoftBank to work on bringing AI into the car, with new ADAS features for automated driving and safety that work across a wider range of roads and more geographic locations, and to enhance its efforts in automotive electrification and location intelligence.
Continuum Industries raised $10M from Singular, Credo, Playfair, Techstart Ventures, and various angel investors to work on their AI-powered platform, Optioneer, which enables power, utility, and renewables companies to visualize, analyze, and assess routing options for various energy infrastructures.
Elevation raised $20 million from Bernhard Capital Partners to work on integrated residential energy solutions.
H55 raised CHF 45M in Series C funding from ND Capital, Tippet Venture Partners, RTX Ventures, and private investors to work on accelerating the commercialization of electric and hybrid propulsion solutions and battery systems for the emerging electric aviation industry.
Morrow Batteries raised up to €70M from Å Energi, PKA (Maj Invest), Siemens Financial Services, ABB, and Nysnø to work on the development of sustainable batteries and support continued growth and the construction of the Morrow Industrialization Center on the Battery Coast of Southern Norway.
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