Meta & Google Invest $35M Each in Carbon Removal – A Game Changer for Climate Tech?
1.) Meta to invest up to $35 million in carbon removal projects over the next year, in response to the US DOE’s Carbon Dioxide Removal Purchasing Challenge. The DOE also making $35 mn investment while recognizing other buyers and tracking voluntary carbon removal purchases. The goal is to catalyze infant industry and improve transparency concerning CO2 removal credits. Meta now joins Google as the second large data company to commit to program.
2.) Google signs deal to buy 500 MW of energy from modular nuclear start-up company Kairos Power. First reactor slated to come online in 2030, with additional reactors added through 2035. Terms of the deal were not disclosed.
3.) Amazon inks contract with utility consortium Energy Northwest to deploy four of modular nuclear start-up X-energy’s 80 MW reactors in the early 2030s. It also made an equity investment in X-energy, while signing a separate deal with Dominion Energy to explore innovative structures to help advance potential SMR development in Virginia.
4.) Chinese wind turbine manufacturer Dongfang rolls out world’s largest 26-MW offshore wind turbine capable of generating 100GWh annually. Earlier this year, Dongfang installed its first 18 MW turbine, while Mingyang has deployed a 20 MW machine.
5.) Kelley Blue Book says Q3 U.S. EV sales grew by 11% year over year, notching reached record highs for both volume and market share. Nearly 350,000 EVs were sold in the quarter, up 5% from Q2 and representing 8.9% of all passenger vehicles sold.
6.) California utility PG&E advances pilot program for bidirectional EV charging, meant to demonstrate how improving distribution circuit utilization can reduce the need for distribution infrastructure upgrades and keep costs down. Residential customers must have the Ford F-150 Lightning truck, which at present can only be used for managed charging and home backup power, rather than energy export. Three electric school bus models are eligible in full bi-directional mode if they have the right chargers.
7.) The California Energy Commission says its Demand Side Grid Support program – unveiled in August 2022 - now manages 515 MW of capacity furnished by 265,000 participants. This includes a 200 MW virtual power plant network of customer-sited batteries and solar arrays. That has been activated 16 times in 2024.