Microsoft announced a new carbon removal offtake agreement with energy provider Ørsted for the purchase of one million tonnes of carbon removal over ten years from Ørsted’s new bioenergy carbon capture and storage (BECCS) project in Denmark, Ørsted Kalundborg CO2 Hub. The agreement adds to a prior commitment from Microsoft announced last year to buy 2.67 million tonnes of carbon…
Circular economy technology company Circtec announced today that it has raised €150 million (USD$163 million), with proceeds to be used for the construction of Europe’s largest end-of-life tire pyrolysis recycling facility in the Netherlands. Founded in 2009, UK-based Circtec utilizes pyrolysis technology to recycle waste into renewable fuels and circular chemicals. The company’s solution decomposes old tires through pyrolysis, a…
Clean energy company XGS Energy announced today that it has raised $20 million, with proceeds aimed at accelerating the commercialization of its water-saving and low-cost geothermal technology. California-based XGS Energy provides heat-harvesting technology to enable access to affordable and carbon-free geothermal energy. The company’s solution drills a single directional well to access rock with temperatures of 250 °C or higher,…
Biogas CO2-focused cleantech startup CryoCollect announced today that it has raised €4 million (USD$4.3 million), including investments from Engie New Ventures, the corporate venture fund of power company Engie, and GTT Strategic Ventures. Founded in 2017, Paris-based CryoCollect develops technologies for gas treatment, purification & liquefaction, for gases such as biomethane, carbon dioxide or hydrogen. The company has focused on…
Tech Giants Google, Meta, Microsoft, and Salesforce announced today the launch of the Symbiosis Coalition, a new advance market commitment (AMC) collaboration aimed at supporting the development and growth of the nature-based carbon removal market, with a collective commitment to contract up to 20 million tons of nature-based carbon removal credits. According to the companies, the coalition aims to send…
The vast majority of companies view sustainability as a value creation opportunity, with more than three quarters anticipating potential benefits ranging from higher revenues and profitability to lower cost of capital, although many also expect increased sustainability-related costs and a need for significant investment, according to a new survey released by Morgan Stanley. For the study, “Sustainable Signals: Understanding Corporates’…
On 16 May 2024, the UK Government published an implementation update on its development of economy-wide sustainability disclosure requirements (the “Implementation Update“). The Implementation Update, which the UK Government committed to publishing in its 2023 Green Finance Strategy (which you can read more about here), discusses: its endorsement of the IFRS Sustainability Disclosure Standards; transition plan disclosures; the Financial Conduct…