BP and Chevron Lead $40mn Investment in Innovative Geothermal Company Eavor

Norway's TECO 2030 planning on fuel cell gigafactory for ship propulsion; Vestas investing in a wooden wind tower company to decarbonize supply chain; Ford going all in on EVs in Europe, with completely all-electric lineup by 2030; geothermal company Eavor gets a $40 million investment from BP, Chevron others to advance its novel geothermal loop technology.

1) Norwegian company TECO 2030 to build a fuel cell 'giga factory' to serve ships, with 1.2 GW of output per year. A 3x400-kW maritime fuel cell set-up will be deployed in vessels.

2) Vestas investing in a wooden wind tower company Modvion to decarbonize its supply chain. Modvion makes laminated veneer lumber towers that are assembled modular fashion on site, claiming ability to reach 120 meters.

3) Ford fully committed to EVs in Europe, with all passenger vehicles in Europe to be all-electric by 2030. Company will spend $1 billion of to convert Cologne, Germany plant into first European EV facility.

4) Geothermal company Eavor gets $40 million investment from BP, Chevron, others for horizontally drilled, miles-long, deep geothermal loops. This tech requires no pumps and creates dispatchable electricity supply.