UK-based clean energy tech company Octopus Energy Group announced that it will spin out its AI-powered utility technology business Kraken, alongside a $1 billion standalone investment round into Kraken, valuing the company at over $8.6 billion. Launched within Octopus Energy, Kraken provides an AI-powered operating system platform for energy utilities aimed at helping them manage networks, improve field operations, support…
Dominion Energy Sues Trump Administration for Halting Offshore Wind Project After $9 Billion Investment
Electric utility Dominion Energy filed a suit asking a federal court to block an order by the Trump administration’s Bureau of Ocean Energy Management (BOEM) to halt work on a major Virginia offshore wind project, after the company has already invested nearly $9 billion in the project, which was expected to begin generating electricity for consumers in early 2026. The…
Morrisons Expands Net Zero Commitment to Full Value Chain
UK supermarket retailer Morrisons announced a new series of climate targets, including a commitment to achieve net zero greenhouse gas (GHG) emissions across its full value chain by 2050. The new targets mark a significant update to Morrisons’ climate goals, which had previously included a commitment to achieve net zero emissions from its own operations by 2035. While the Scope…
Glencore Buys Majority Stake in Low Carbon Fuels Supplier FincoEnergies
Dutch energy solutions provider FincoEnergies announced that mining and commodities giant Glencore has agreed to acquire a majority stake in the company. Founded in 2013 by energy investment company Coloured Finches, Netherlands-based FincoEnergies provides fuels, biofuels and decarbonization services for the transport and industry sectors, including products and services aimed at helping companies to calculate and reduce their direct and…
Renewco Power Raises £29 Million to Build Wind and Solar Projects across UK, Europe
Renewable energy developer Renewco Power announced that it has raised £29 million through new investments, with proceeds aimed at advancing its wind and solar projects throughout Scotland and the UK, and to accelerate the transition to clean energy across its key European markets. The funding round included a £20 million investment from Scotland’s development bank and impact investor, the Scottish…
EU Commission Harmonizes Circular Economy Rules to Reignite Plastic Recycling Market
The European Commission announced on Tuesday a set of new pilot actions aimed at creating common EU-wide rules for the plastics recycling, forming part of a series of measures to revitalize the plastics recycling sector planned to be released over the next several months. According to the Commission, the new measures come as demand for recycling and circular plastics is…
Port of Rotterdam Issues First-Ever Carbon Capture and Storage Bond
The Port of Rotterdam has raised €50 million through the issuance of a new Carbon Capture and Storage Bond, marking the first ever corporate bond with use of proceeds to be exclusively allocated to carbon capture and storage (CCS). Proceeds raised through the new bond offering will be allocated to Port of Rotterdam’s equity investment in Porthos, one of the…
Trump Administration Orders Halt to All Major Offshore Wind Projects
The U.S. Department of the Interior announced on Monday the immediate pause of leases for all large-scale offshore wind projects under construction in the U.S., citing “national security risks” potentially resulting from the projects. The announcement will freeze the development five major projects along the U.S. east coast, representing nearly 6 GW of energy, that were set to enter commercial…