Boeing’s $11.8 Billion Annual Loss: A Path to Recovery and Net-Zero Ambitions

Boeing’s $11.8 Billion Annual Loss: A Path to Recovery and Net-Zero Ambitions

Boeing is navigating turbulent times, grappling with a staggering $11.8 billion annual loss in 2024 while working to stabilize production. Despite these challenges, the company is investing heavily in sustainability, showing its commitment to reaching net-zero emissions and driving greener skies in the aviation industry.

Turbulence Ahead: Boeing’s Financial Freefall in 2024

Boeing faced a rough flight in Q4 2024, reporting a $3.86 billion net loss for the quarter and a 31% revenue drop compared to the same period last year. The company’s revenue stood at $15.24 billion, below analysts’ expectations of $16.21 billion. This marked Boeing’s sixth consecutive annual loss, with 2024’s total loss reaching $11.83 billion—the largest since 2020.

Boeing annual losses 2024
Chart from Statista

Production inefficiencies stemming from a nearly two-month machinist strike significantly affected operations. The strike halted work on most aircraft, causing delivery delays and contributing to a $3.5 billion cash burn for the quarter. 

Boeing’s commercial aircraft unit revenue dropped 55% to $4.76 billion, while the defense unit’s revenue fell 20% to $5.4 billion, with $1.7 billion in pretax charges.

CEO Kelly Ortberg expressed optimism about Boeing’s recovery efforts despite these setbacks, emphasizing stabilizing production and focusing on core businesses. Ortberg specifically noted in a memo: 

“While it was a challenging year, we are seeing encouraging signs of progress as we work together to turn around our company.”

Deliveries of Boeing’s 737 MAX increased, with numbers expected to reach the “upper 30s” in January 2025, up from just 17 in December 2024. Ortberg also highlighted plans to turn cash-flow positive in Q2 of 2025 after burning through $14 billion in 2024.

Despite financial mishaps, the plane maker is investing in its core businesses and working to address operational challenges. Efforts include certifying the Max 7 and Max 10 models, restarting test flights of the 777X, and addressing cultural and operational issues within the company.

Boeing remains focused on its long-term vision, despite the recent financial hiccup, which goes beyond balancing the books. The company is doubling down on sustainability efforts, recognizing the critical need to address its environmental impact while navigating challenges.

Greener Skies: Boeing’s Bold Sustainability and Net-Zero Roadmap

Boeing is a leader in aerospace innovation and a proactive advocate for environmental sustainability. The company has made significant strides in addressing climate change, aligning its operations with the goals of the Paris Agreement. 

For the fourth consecutive year in 2023, Boeing achieved net-zero carbon emissions across Scope 1, Scope 2, and parts of Scope 3 (business travel) by combining renewable energy investments, conservation efforts, and verified carbon offsets.

Decarbonizing Operations: A Multifaceted Approach

Boeing prioritizes avoiding and reducing greenhouse gas (GHG) emissions across its manufacturing sites and facilities. The company’s decarbonization strategy focuses on:

  1. Efficiency Improvements: Upgrading heating, cooling, and lighting systems to reduce energy consumption.
  2. Renewable Energy Procurement: Expanding the use of renewable electricity sources across its global operations.
  3. Carbon Offsetting: For emissions that cannot yet be avoided, Boeing invests in certified carbon offsets verified by top organizations. These offsets adhere to strict criteria, including independent verification and global registration.

Boeing sustainable operations targets

By actively tracking emissions and energy usage, Boeing ensures that its operations remain aligned with a 1.5°C pathway. The plane manufacturer continuously monitors performance at its Core Metric Sites, which account for 70% of its operational carbon footprint, using validated data from utility bills and third-party assurance processes.

A Future-Focused GHG Strategy

Boeing’s “Avoid First, Remove Second” strategy emphasizes preventing emissions before they occur. This approach includes:

  • Increasing the use of renewable energy sources such as sustainable aviation fuel (SAF).
  • Investing in energy-efficient infrastructure and conservation practices.
  • Transitioning to permanent carbon removal solutions to complement traditional offset projects.

RELATED: Boeing’s Big Move: Boosting EU Aviation with Norsk e-Fuel’s SAF

By 2024, Boeing plans to reduce its reliance on offsets for Scope 1 and Scope 2 emissions, focusing instead on long-term carbon management strategies. However, offsets will continue to play a role, particularly for business travel emissions and supporting voluntary carbon markets.

Sustainability in Aviation: The Cascade Climate Impact Model

In May 2023, Boeing launched the Cascade Climate Impact Model to support the decarbonization of commercial aviation. Cascade is a comprehensive data modeling tool that evaluates various pathways to reduce aviation’s carbon footprint.

The tool considers factors such as:

  • Fleet renewal with more fuel-efficient aircraft.
  • Operational efficiencies like improved flight routing.
  • The production, distribution, and use of renewable energy sources.
  • Innovations in future aircraft designs and market-based mechanisms.
Boeing Cascade Climate Impact Model
Image from Boeing website

Cascade is available to the public, enabling stakeholders to explore the environmental impact of different aviation strategies. Founding members of the Cascade User Community, including NASA, IATA, and top academic institutions, contribute insights and feedback to enhance the tool’s functionality.

Boeing actively engages with the Cascade User Community to evolve the platform, ensuring it remains a valuable resource for guiding the aviation sector’s net-zero ambitions.

Carbon Offsetting: A Critical Component of the Transition

Climate change poses risks beyond carbon emissions, and Boeing is preparing for these challenges through a robust business continuity program. The company also recognizes the importance of carbon credits in tackling its environmental footprint.

Since 2020, Boeing has voluntarily offset emissions from its Scope 1 and Scope 2 operations, as well as Scope 3 business travel. The company’s offsets are certified by global verification organizations and meet rigorous criteria, ensuring their integrity and impact.

Boeing also incorporates the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) credits for business travel offsets. Moving forward, the company aims to diversify its offset portfolio with a greater emphasis on permanent carbon removal solutions.

Empowering Global Sustainability Goals

Boeing’s efforts to decarbonize extend beyond its own operations. By advancing renewable energy technologies, promoting SAF, and developing tools like Cascade, the company plays a pivotal role in driving sustainability across the entire aviation industry.

Through these initiatives, Boeing aligns with the commercial aviation industry’s collective goal of achieving net-zero carbon emissions by 2050. By fostering collaboration among stakeholders, the airline uses these five strategies to help decarbonize aerospace.

Boeing plan to decarbonize aerospace
Image from Boeing sustainability report

Boeing’s journey through financial challenges and environmental initiatives reflects a company striving to balance recovery with responsibility. As it works to stabilize operations and embrace sustainable practices, Boeing aims to redefine its future while contributing to a greener aviation industry.

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SolarBank Sparks Solar Surge: A Bright Future for the U.S. Renewable Energy

SolarBank

Solar energy is experiencing a remarkable surge in the U.S., driven by significant new installations and strong policy support. This growth is largely due to developers completing projects in the last year and opening new opportunities in 2025. Amid this surge, SolarBank, a leading North American solar company, is pivotal in developing commercial, industrial, and community solar projects in the U.S.

Thus, as the U.S. energy landscape undergoes a major shift, wind and solar are set to lead the charge in powering the nation’s future. With this transformation underway, solar energy will play an even bigger role in the coming years.

Solar Power Fuels America’s Clean Energy Boom

According to recent EIA’s Short-Term Energy Outlook projections, solar power generation is set to experience remarkable expansion, rising 75% from 163 billion kilowatt-hours (kWh) in 2023 to 286 billion kWh by 2025.

Supply chain issues, grid connection delays, and tariff increases on imported modules pose challenges, but federal and state incentives continue to support solar’s momentum. While obstacles remain, reforms and incentives offer hope for accelerated growth in the coming years.

In 2023, renewables—including wind, solar, hydro, biomass, and geothermal—accounted for 22% of the U.S.’s 4,017 billion kWh of electricity generated, amounting to 874 billion kWh.

solar US power

Moving on, IEA says, the U.S. is set to add significant solar PV capacity, leading the renewable energy surge with nearly 500 GW projected by 2030. Utility-scale solar sees steady growth, driven by the Inflation Reduction Act (IRA) and federal tax credits, even as residential expansion slows due to California’s new net-metering rules and high interest rates.

IEA U.S. Solar Energy 2030 Forecast

Solar forecast
Source:: IEA

Nonetheless, America’s solar sector continues to expand rapidly, with significant growth in both stand-alone utility-scale solar capacity and hybrid solar-plus-storage installations.

Stand-Alone Utility-Scale Solar Capacity

According to S&P Global’s latest solar report, in 2024, annual additions to stand-alone utility-scale solar capacity reached around 11,190 megawatts (MW), bringing the total capacity to an impressive 92,832 MW. This increase underscores the growing role of large-scale solar projects in meeting the nation’s energy needs.

However, utility-scale solar in the U.S. still lags behind wind energy in terms of total operating capacity. The country currently operates about 116 GW of solar capacity. This excludes residential and most behind-the-meter systems. Around 93 GW comes from stand-alone projects without battery storage or other technologies.

Standalone solar

Hybrid Solar-Plus-Storage

The hybrid solar-plus-storage segment is also experiencing remarkable progress. Data from S&P Global indicates that by October 1, 2024 (YTD), annual additions in this category include 6,257.2 MW of solar capacity and 2,814.8 MW of storage capacity. These additions bring the total operating hybrid solar capacity to 22,826.2 MW and the total storage capacity to 9,925.7 MW.

This growth reflects the increasing integration of energy storage systems with solar installations, which enhances grid reliability and enables efficient energy use.

The expansion of both stand-alone and hybrid solar capacities demonstrates solar’s critical contribution to the U.S. energy transition and its ability to support a cleaner, more sustainable power grid

hybrid solar plus

The Solar Industry Thrives Amid Federal Policy Shifts

A report from PV Magazine sheds light on the current hurdles in the U.S. solar industry as federal policy debates intensify. There are ongoing discussions about scaling back the Inflation Reduction Act (IRA) and cutting support from the Department of Energy’s Loan Programs Office, which has raised concerns within this sector.

New tariffs on Chinese imports could increase the cost of solar projects, potentially slowing installations in the short term. However, the rapid growth of the domestic solar supply chain offers a silver lining. This growth, particularly in Republican-majority states, highlights the bipartisan support for clean energy investments.

Local Momentum and Distributed Solar Opportunities

Moreover, this expansion of local manufacturing could play a key role in reducing the impact of potential policy rollbacks. As a result, the long-term growth prospects of the solar industry remain strong, and it continues to be a vital part of the nation’s renewable energy future.

Notably, renewable energy projects have already brought in $106 billion in investments and created thousands of jobs across U.S. communities. Public demand for affordable, clean energy remains strong, especially in areas benefiting from solar projects. This local momentum will likely keep solar growing, even if federal incentives face cuts.

Furthermore, distributed solar systems offer a major opportunity. These systems deliver power where it’s needed. This reduces costs and boosts energy independence. Federal incentives, like the IRA’s domestic content bonus, have encouraged developers to use local materials, supporting the industry’s growth.

Looking forward, many solar projects will focus on energy communities. This shift signals continued solar expansion and a bright future for the industry in the U.S., with solar playing a key role in sustainable, localized energy solutions. One such company, leading by example is SolarBank.

SolarBank: Powering a Sustainable Future with Innovative Solar Solutions

In the age of solar, SolarBank is delivering clean and renewable energy solutions for the digital age. Listed on NASDAQ as SUUN, the company believes in “harnessing the power of the sun to provide sustainable energy as long as it shines.”

With a market cap of $53.33 million and an enterprise value of $53.60 million, SolarBank focuses on driving sustainable profit growth. Its top solar projects include Ontario’s small FIT solar gardens and New York’s community solar farms, which will expand into large-scale data center projects over 100 MW.

  • It projects the North American solar PV market to grow to $120.74 billion by 2027, with a remarkable compound annual growth rate (CAGR) of 21.7% from 2020 to 2027.

This strong growth highlights the increasing demand for solar energy solutions across the region. Furthermore, the company strategically targets carbon-intensive markets with high electricity costs and favorable renewable energy policies.

It is expanding its expertise in rooftop and ground-mount solar. It is also moving into commercial and industrial behind-the-meter projects, battery storage, EV charging stations, and data center power solutions. These efforts meet the rising demand for low-carbon digital infrastructure.

More Than a Decade of Strong Revenue Growth

SolarBank
Source: SolarBank

Source: SolarBank

Advancing Community Solar Initiatives

As mentioned earlier, community solar is significantly reshaping the U.S. energy landscape. As of 2023, 23 states and the District of Columbia have implemented policies supporting community solar projects.

These efforts have resulted in over 8 GW of installed capacity, with projections indicating growth to 14 GW by 2028, driven by an annual expansion rate of 1.5 GW. Moreover, the deployment of community solar-plus-storage systems is expected to rise by 219% by 2028.

Notably, SolarBank is also developing community solar projects in New York and Maryland, with over 250 MW currently in progress.

SolarBank’s $49.5M Qcells Deal

The company recently announced a $49.5 million deal with Qcells, a subsidiary of South Korea’s Hanwha Solutions, to sell four solar projects in upstate New York. These ground-mount projects—Gainesville, Hardie, Rice Road, and Hwy 28—have a combined capacity of 25.577 MW and have passed the CESIR process, confirming grid connection feasibility.

Under engineering, procurement, and construction (EPC) agreements, Qcells will develop the sites. SolarBank will manage operations and maintenance post-construction, with the projects serving as community solar systems, providing shared clean energy benefits without the need for home installations.

Supporting Renewable Energy for Data Centers

Electricity use from cloud computing, AI, and cryptocurrency is set to double by 2026, pushing companies to invest heavily in clean energy. And this rising demand is adding about 15 GW of renewable energy capacity each year.

These investments not only meet power needs but also boost brand image, improve resilience, and comply with stricter regulations. SolarBank supports this shift by delivering tailored energy solutions for modern industries.

Expands into BESS with $3M Boost

SolarBank Corporation is advancing its clean energy strategy by entering the battery energy storage market with $3 million in financing from RE Royalties Ltd. The funds will support three 4.99 MW Battery Energy Storage System (BESS) projects in Ontario.

The company got involved in the projects through its $45 million acquisition of Solar Flow-Through Funds Ltd., which was completed in July 2024. It aims to capitalize on the market forecast by Fortune Business Insights that predicts project growth at a 16.3% annual rate and reaching $31.2 billion by 2029. Thus, this acquisition expanded the company’s renewable energy assets and opportunities in energy storage.

SolarBank’s Strong Visibility to Continued Growth

SolarBank
Source: SolarBank

In conclusion, solar energy’s rapid expansion is crucial to the U.S. energy transition, offering a reliable path to decarbonize the power sector. SolarBank, through its focus on commercial, industrial, and community solar projects, is playing a key role in this shift. As technology advances and supportive policies continue, solar’s growing influence will help shape a cleaner and more sustainable energy future


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Sustainable Bonds in 2025 Could be A $1 Trillion Market, Moody Says

Sustainable Bonds in 2025 Could be A $1 Trillion Market, Moody Says

Global issuance of sustainable bonds will remain steady at around $1 trillion in 2025, marking the fifth consecutive year at this level, according to Moody Ratings. Despite political shifts and heightened scrutiny, the sustainable bond market continues to be driven by a growing global focus on sustainable development, clean energy investments, and climate adaptation. 

Green Bonds: Leading the Charge in Powering the Clean Energy Revolution

Green bonds are anticipated to dominate the sustainable bond market in 2025. Their issuance is projected to reach a record $620 billion, slightly surpassing 2024 levels, per Moody’s analysis

Annual global sustainable bond issuance by label

These bonds, primarily focused on climate mitigation, will benefit from policy support, private sector commitments, and declining costs in clean energy technologies. Additionally, there’s a growing shift towards financing adaptation projects, as the economic and human costs of extreme weather rise. 

Investments in energy- and water-efficient data centers, nuclear energy projects, and emerging green technologies for hard-to-abate sectors could bolster green bond volumes further.

Nature-related projects are also gaining traction, driven by an increasing emphasis on ecosystem conservation and biodiversity to combat global warming. In 2024, around 23% of green and sustainability bond proceeds were allocated to adaptation and nature-related projects. This trend is expected to grow in 2025.

Social and Sustainability Bonds: Mixed Outlook

Social bond issuance will decline by 9% in 2025 to $150 billion. This decrease is due to a lack of benchmark-sized projects and reduced pandemic-related social financing. 

However, social bond volumes remain significantly higher than pre-pandemic levels, indicating a sustained interest in financing social initiatives.

Sustainability bonds, which fund a mix of green and social projects, could remain stable at $175 billion. This segment has shown steady growth over the past decade, supported by a diversified issuer base.

Transition and Sustainability-Linked Bonds: Niche Markets

Transition bonds, which debuted in 2024 with Japan’s $11 billion issuance, will remain flat at $20 billion in 2025. While Japan currently dominates this segment, there’s potential for gradual diversification as more issuers adopt transition finance strategies to achieve low-carbon goals.

Sustainability-linked bonds (SLBs) could also grow by 14% to $35 billion this year. However, this remains well below the $80 billion annual average seen between 2021 and 2023. 

Investor scrutiny over the credibility and robustness of SLB targets continues to limit their growth. However, SLBs provide an alternative for issuers without significant near-term capital investment needs for green or social projects.

Regional Trends: A Tale of Diverging Markets

The sustainable bond market in 2025 will reflect varying regional dynamics shaped by political, economic, and regulatory factors. The chart below shows the varying issuance trends across regions. 

Annual sustainable bond issuance share by region

  1. Europe: As the leading region for sustainable bond issuance since 2017, Europe will maintain its dominance with projected volumes of $465 billion in 2025. The implementation of the European Green Bond Standard in late 2024 may spur growth.
  2. Asia-Pacific (APAC): APAC’s sustainable bond issuance is forecasted at $238 billion, slightly below 2024 levels. Transition finance remains a key focus, supported by government initiatives and sustainable finance policies across the region.
  3. North America: Sustainable bond issuance in North America will remain muted, with 2024 volumes totaling $124 billion, a 30% decline from 2021. In the U.S., reduced federal investment in clean energy under the new administration is partially offset by private-sector initiatives and state-level efforts.
  4. Latin America and the Caribbean: Issuance could rebound in 2025, driven by COP30 in Brazil and increased activity from regional issuers. Large sovereign issuances and the momentum from the COP summit will boost volumes.
  5. Middle East and Africa: While accounting for the smallest share of sustainable bond issuance, the region’s focus on clean energy investments and carbon transition risks could support long-term growth.

Climate Financing: Accelerating the Green Transition

Climate financing will play a crucial role in addressing global energy needs and accelerating the green transition. In 2025, policy support, private-sector pledges, and declining costs of clean energy technologies will continue to drive climate investments. Despite potential setbacks, such as the U.S. election’s impact on global climate action, many nations are moving forward to meet decarbonization and energy security objectives.

China and the EU, accounting for 66% of global clean energy investment in 2024, are leading the charge. Their industrial policies are heavily focused on renewable power, energy efficiency, and low-emissions technologies. 

Annual investment in clean energy by selected country and region

This momentum is spurring a surge in sustainable bond issuance, particularly green and sustainability bonds aimed at climate mitigation projects. These include renewable energy, clean transportation, and green buildings. Together they make up nearly half of the eligible categories covered by Moody’s second-party opinions over the past two years.

Yet, emerging markets (EMs) face significant climate finance challenges, with annual funding needs exceeding $1 trillion. In 2024, sustainable bond issuance from EMs declined by 8% to $145 billion. 

However, increased climate investments from advanced economies, multilateral development banks, and innovative financing solutions could drive a rebound in EM sustainable bond issuance in 2025.

Emerging technologies in hard-to-abate sectors, such as steel, cement, and aviation, are also influencing sustainable bond frameworks. Furthermore, adaptation and nature-related financing are scaling up, driven by rising climate risks and biodiversity conservation goals. 

  • In 2024, adaptation and nature-related bond proceeds reached annual records of $73 billion and $113 billion, respectively. This accounted for 23% of green and sustainability bond proceeds.

Absolute volume ($ billions) and share of green and sustainability bond proceeds

Unlocking More Bonds for a Greener Future

As more public and private issuers embrace adaptation and resilience projects, sustainable bond frameworks are expanding. For instance, the Netherlands’ green bond framework funds long-term flood management strategies. 

Similarly, U.S. utilities are investing in grid resilience to address wildfire risks, integrating these initiatives into their bond frameworks. Nature-focused financing is also gaining ground, with blue bonds supporting marine and coastal projects, such as kelp forest cultivation for carbon sequestration.

The sustainable bond market in 2025 is up for another year of steady issuance at $1 trillion, reflecting its maturity and resilience amid challenges. Green bonds will continue to lead the market, supported by climate mitigation and adaptation initiatives. As the market evolves, addressing concerns around greenwashing, regulatory complexity, and political uncertainty will be critical to sustaining growth and maximizing impact.

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2025 Nuclear Energy Roundup: Top Stories You Need to Know

nuclear energy

In 2025, major advancements and collaborations are redefining the nuclear industry’s trajectory. From the United States accelerating small modular reactor (SMR) deployment to Saudi Arabia’s push to monetize uranium resources, the nuclear sector is buzzing with activity. In China, differential performances from its top operators highlight both progress and challenges in its expanding nuclear fleet.

Meanwhile, the UK explores the integration of nuclear power with artificial intelligence (AI) growth zones, and Canada and the UK deepen their partnership to drive innovation in nuclear technologies. This roundup explores the most impactful stories shaping the nuclear energy landscape in 2025.

Installed nuclear power capacity by country and age in advanced economies, end-2023

Nuclear world
Source: IEA

TVA Bids $800 Million to Speed Up Small Modular Reactors

The Tennessee Valley Authority (TVA) is leading an $800 million bid from the U.S. Department of Energy. This funding comes from the Generation III+ Small Modular Reactor (SMR) Program. TVA has teamed up with Bechtel, BWX Technologies (BWXT), Duke Energy, and others. Congress approved this funding in 2024. The goal? To deploy SMRs across the U.S. This move will boost the nuclear industry and meet the demand for clean, affordable energy.

TVA’s President and CEO, Jeff Lyash, believes advanced nuclear tech is key to energy security. If they win the bid, construction of an SMR at TVA’s Clinch River site in Oak Ridge, Tennessee, will speed up. The project could start commercial operations by 2033, two years earlier than planned. TVA aims to build a domestic supply chain and prepare for future SMR deployments in the U.S. and beyond.

Tennessee Governor Bill Lee backs the initiative. He says it will create jobs and strengthen the state’s nuclear ecosystem. SMRs are smaller and safer than traditional reactors. They can be built more quickly and integrated into communities easily. These reactors will provide reliable and flexible energy, essential for the country’s energy future.

A diverse group of industry leaders supports the project. Their partnership will accelerate SMR rollout and reduce costs and risks for customers.

nuclear tva
Source: TVA

TVA’s mission is to provide clean, reliable energy. As the nation’s largest public power supplier, TVA leads in sustainable energy tech development. With its diverse energy mix and focus on environmental stewardship, TVA is at the forefront of the U.S. push for a cleaner energy future.

China Reports Mixed Results in Nuclear Power Output for 2024

Media agency World Nuclear News recently shared updates about China’s two major nuclear power operators, China General Nuclear (CGN) and China National Nuclear Corporation (CNNC). They reported contrasting performance in nuclear electricity generation in 2024.

CGN Output

  • CGN announced a 6% rise in nuclear power output compared to 2023.
  • The company operated 28 reactors with a combined capacity of 31,798 MWe as of December 31, 2024.
  • Total power generation reached 242.2 TWh, while 227.3 TWh was supplied to the grid—a year-on-year increase of over 6%.
  • The company completed 13 scheduled refueling outages and six major maintenance operations.
  • CGN also managed 16 reactors under construction, with two entering the commissioning phase and nine preparing for initial concrete pours.
  • Huizhou/Taipingling Unit 1 in Guangdong is set for commercial operation in 2025.

 CNNC Output

  • CNNC announced a 1.8% decline in nuclear power generation in 2024 due to reactor maintenance outages.
  • Its reactors generated 183.1 TWh, with 171.26 TWh supplied to the grid.
  • The company controlled 25 operational reactors with a total capacity of 23.75 GWe and 18 units under construction or approved for construction, adding 20.64 GWe of future capacity.
  • For 2025, CNNC plans to generate 195.4 TWh and conduct 16 scheduled maintenance outages.

china nuclear

China’s nuclear energy sector continues to expand, with State Power Investment Corporation and Huaneng Group emerging as additional key players. Smaller companies, including Huadian, Datang, and Guodian, also maintain stakes in various projects.

As of 2024, China operates 58 nuclear reactors, which supply approximately 5% of the country’s electricity. With multiple projects in the pipeline, the nation aims to bolster its clean energy capacity and meet growing power demands.

Saudi Arabia Eyes Minerals Market and Nuclear Expansion

Saudi Energy Minister Prince Abdulaziz bin Salman plans to tap into the country’s mineral resources, including uranium. Reuters revealed that at a conference in Dhahran, he announced plans to enrich uranium and produce “yellowcake,” a concentrated form used for nuclear fuel. While yellowcake requires careful handling, it poses minimal radiation risks.

Saudi Arabia aims to diversify its energy mix with nuclear power. The program is still in its early stages, with plans for uranium enrichment. However, there are concerns about the potential future implications. In 2018, Crown Prince Mohammed bin Salman hinted that Saudi Arabia might pursue nuclear weapons if Iran does.

The United Arab Emirates (UAE) offers a regional comparison. It has the first multi-unit nuclear energy plant in the Arab world and has committed not to enrich uranium or reprocess spent fuel, demonstrating a commitment to non-proliferation. Furthermore, they have not yet activated its first nuclear reactor, keeping its activities under the Small Quantities Protocol’s (SQP) limited monitoring.

Westinghouse and Korean Partners Resolve Intellectual Property Dispute

Westinghouse Electric Company has reached a global settlement with Korea Electric Power Corporation (KEPCO) and Korea Hydro & Nuclear Power Company (KHNP) to resolve their ongoing intellectual property dispute.

The agreement brings clarity and allows both parties to focus on developing and deploying new nuclear reactors worldwide. It also paves the way for future collaboration on global nuclear energy projects.

As part of the settlement, all legal actions related to the dispute will be dismissed. Westinghouse, KEPCO, and KHNP have agreed to work together to support the growth of nuclear energy, enhancing their ability to deliver innovative reactor technologies.

Westinghouse nuclear reactor
Source: Westinghouse

This resolution marks a significant step forward for both companies. By resolving these issues, Westinghouse and its Korean partners can focus on strengthening partnerships and advancing nuclear energy solutions for the global market.

Westinghouse President & CEO Patrick Fragman said,

“Westinghouse is pleased to reach an agreement with KEPCO and KHNP on this important issue. As the world demands more firm baseload power, we look forward to opportunities for cooperation to deploy nuclear power at even greater scale.”

UK Plans AI Growth Zones Powered by Nuclear Energy

Bloomberg reported recently that the UK is setting up special “AI Growth Zones” districts to boost technology growth and artificial intelligence ecosystems. According to a government announcement, these zones will offer streamlined planning approvals and improved electricity access for data centers. The first zone will be established in Culham, the location of the UK Atomic Energy Authority.

The government plans to create an energy council comprising public and private stakeholders to address the energy demands of advanced AI systems. The council will explore small modular reactors (SMRs) using nuclear fission technology to power these data centers. This initiative aligns with the UK’s plans to expand supercomputing capabilities, enhance AI applications in public services, and attract global tech talent.

Private investments are already flowing into the initiative. Notably, Vantage Data Centers has pledged over £12 billion for data center projects in the UK, while Nscale plans to invest $2.5 billion over the next three years.

Canada Nuclear Laboratories (CNL) and AECL Explore Nuclear Technologies

Additionally, Atomic Energy of Canada Limited (AECL) and CNL have issued a Request for Expression of Interest (RFEOI) to explore licensing their SLOWPOKE and Nuclear Battery reactor technologies. The RFEOI invites stakeholders to share insights on these designs, which can be used for power generation, heating, isotope production, and research.

AECL’s SLOWPOKE and Nuclear Battery Technologies

AECL’s SLOWPOKE reactors, including the SLOWPOKE-2, are simple, safe, and cost-effective. These low-pressure reactors have operated for decades in Canada, offering reliable energy for various applications like neutron activation analysis and education. Their ‘safe by physics’ design allows for up to 24 hours of unattended operation.

Now coming to the Nuclear Battery, it’s a solid-state micro-reactor, that produces 600 kWe of electricity and 2400 kWth of heat for 15 years without refueling. With passive safety features, it’s ideal for off-grid use. CNL is exploring market interest in these technologies, seeking opportunities for electricity generation, district heating, and isotope production.

CANADA NUCLEAR
Source: IEA

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Europe’s Solar Industry Saw Record Growth and Innovations in 2024

Europe's Solar Industry Saw Record Growth and Innovations in 2024

Europe’s solar energy industry achieved remarkable milestones in 2024, marking a record-breaking year for generation and capacity expansion. Solar energy continues to play a pivotal role in the EU’s green transition, driven by innovations, investments, and policy efforts. 

This article explores Europe’s solar achievements in 2024, highlighting key areas of growth and developments according to data reported by energy think tank Ember

2024: A Record Year for Solar Growth

In 2024, Europe’s solar industry saw unprecedented growth, with annual solar generation increasing by 54 TWh (+22%) compared to 2023. This marked an acceleration from the previous year, which saw a 40 TWh increase. 

Eu solar power generation 2024

The EU also set a record for capacity additions, installing 66 GW in 2024—equivalent to more than 450,000 solar panels per day. This rapid expansion pushed total installed solar capacity to 338 GW, keeping the EU on track to meet its REPowerEU interim goal of 400 GW by 2025.

If this growth continues, the EU’s ambitious 2030 target of 750 GW will be within reach. However, the pace of deployment is already surpassing what many national targets require. 

solar power Europe 2030 pathway

Importantly, solar energy growth occurred across every EU country in 2024. Sixteen countries generated over 10% of their electricity from solar power—an increase from 13 in 2023. 

Innovative approaches, such as balcony solar panels in Germany and agri-PV systems that integrate solar with agricultural land use, are expanding the reach of solar energy beyond traditional rooftops and fields. Residential rooftop installations, which faced significant losses, were overtaken by utility-scale solar, the largest market segment in 2024, per Solar Power analysis. 

EU solar market segment 2024
Chart from Solar Power Europe

Capital investments in EU solar PV had steadily climbed from €19 billion in 2020 to €60 billion in 2023. However, this upward trend shifted in 2024.

European wholesale module prices hit record lows, declining by 35% between January and November 2024, following a 50% drop the previous year as seen below. This sharp price reduction was driven by falling supply chain costs and overcapacity in the market.

EU PV module prices 2024
Chart from Solar Power Europe

Solar Meets Demand Like Never Before

The success of solar energy is reflected in its ability to meet growing electricity demands across the EU. In 2024, 12 EU countries reported solar meeting at least 80% of their electricity demand during peak hours on multiple occasions. 

Notably, Hungary saw an incredible leap, with solar meeting over 80% of demand on 70 days in 2024—up from just 10 days in 2023.

This trend underscores the potential of solar energy to displace expensive and polluting fossil fuels during daylight hours. However, achieving consistent reliability requires integrating clean flexibility solutions, such as battery storage, expanded grids, and smart electrification. 

These technologies can store excess solar energy during midday production peaks and distribute it during evening demand surges, reducing reliance on fossil fuels for power balancing.

Notably, the EU’s shift to solar, alongside wind, has cut coal-fired electricity generation by nearly two-thirds over the past decade. This is despite a brief rise after Russia’s 2021 invasion of Ukraine. 

EU solar triple vs coal dropping 2024

Clean Flexibility: The Backbone of Solar’s Future

Clean flexibility is central to ensuring the continued growth of solar energy in Europe. Batteries, in particular, play a critical role in shifting energy supply to match demand. By storing excess energy generated during sunny hours and delivering it when demand peaks, batteries stabilize the grid and maximize solar’s value.

Co-locating batteries with solar plants is quickly becoming an industry standard. This practice enables solar producers to avoid selling electricity at low midday prices and instead capitalize on higher prices during evening peaks. It also strengthens the financial case for solar energy by ensuring profitability even in periods of surplus generation.

In 2024, the deployment of battery storage continued to grow rapidly. EU-installed battery capacity doubled from 8 GW in 2022 to 16 GW in 2023.

However, this growth remains uneven, with 70% of capacity concentrated in Germany and Italy. To fully realize the potential of batteries, the EU must address barriers like double grid charging and restrictive market participation rules.

battery storage impact solar electricity EU

Solar Savings: Economic Wins and Consumer Perks

Solar energy’s rapid growth delivered significant economic benefits in 2024, particularly through reduced electricity prices. Abundant solar generation during midday hours frequently drove hourly power prices to zero—or even below. 

  • Negative or zero-price hours doubled in 2024, occurring 4% of the time across the EU, compared to 2% in 2023.

These price dynamics create opportunities for consumers and market participants alike. Consumers can save money by using smart electrification technologies to shift energy use to periods of lower prices. 

Meanwhile, market players, such as battery operators, can earn additional revenue by purchasing power at low midday prices and selling it during high-demand evening hours.

Despite the successes of 2024, significant challenges remain, however. One major barrier is the lack of infrastructure to support flexible energy use. For example, smart meters are essential for giving consumers real-time control over their energy usage, but adoption remains low. 

In 10 EU countries, fewer than 30% of households have smart meters, and six countries report penetration below 10%. Additionally, the prevalence of fixed-price electricity contracts limits consumers’ ability to take advantage of low-cost solar energy during midday hours.

Grid expansion and modernization are also critical. While solar growth has exceeded expectations, national targets for grid development remain outdated. Expanding cross-border interconnectors will allow countries to share surplus solar energy, reducing reliance on fossil fuels and improving grid stability across the region.

The year 2024 was a milestone for solar energy in Europe, highlighting the industry’s ability to drive decarbonization and lower energy costs. With the right mix of technological advancements, grid modernization, and supportive policies, Europe could meet its 2030 solar targets. By doing so, the region can lead the global transition to clean, reliable, and affordable energy.

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Gold Standard Launches Global Carbon Market Regulations Tracker

Countries worldwide have implemented various strategies and mechanisms to measure and reduce emissions to address climate change effectively. Among these, the carbon market has emerged as a crucial tool to combat greenhouse gas emissions. In this sector, Gold Standard, a leading certification body, is playing a vital role in making this market more transparent and trustworthy.

With tools like the Carbon Market Regulations Tracker, they’re helping businesses, governments, and investors navigate the complex world of carbon offset regulations with ease and confidence.

Total, per capita, and historical emissions of selected countries and regions

ghg emissions
Source: UNEP Emissions Gap Report 2024

A New Era for Carbon Market Regulations

Going back in time, Gold Standard launched the tracker in June 2024 under its “Gold Standard for the Global Goals”. This tool was developed by South Pole, the top climate consultancy company. Additionally, it was part of the “Enabling National Ownership in a High-Integrity Carbon Market” program and was funded by the German Federal Ministry for Economic Affairs and Climate Action (BMWK).

What Makes “Gold Standard for the Global Goals” Unique?

Gold Standard for the Global Goals is an impact standard for promoting climate security and sustainable development. It ensures two key attributes i.e. high integrity and credibility in measuring and verifying the positive outcomes of climate and sustainability projects.

They use proven methodologies, guidelines, and safeguards to measure and report the impact of climate and sustainability projects.

More significantly, Gold Standard’s tools and mechanisms have been praised by Oeko Institute, ASEAN Low Carbon Energy Programme, and Carbon Market Watch for its safeguards, gender provisions, and grievance-addressable techniques.  This is how they are consistently raising the bar in climate action.

What Does the Carbon Market Regulations Tracker Offer?

The Carbon Market Regulations Tracker serves as a central hub for vital information. It includes standardized summaries, direct links, and details about regulations related to baseline-and-crediting market activities. The tracker covers both voluntary carbon markets and mechanisms under Article 6 of the Paris Agreement.

Inclusion and Exclusions

  • Implemented and Planned Regulations: Covers current laws and those under consultation.
  • Exclusions: This does not include carbon tax policies or emissions trading systems unless tied to carbon credits.
  • Global Coverage: Provides insights across jurisdictions for a comprehensive understanding of carbon markets.

By hosting the tracker on its website, Gold Standard ensures it remains updated and relevant. The tool fosters market certainty and encourages knowledge sharing among key stakeholders.

Margaret Kim, CEO of Gold Standard, highlighted the tool’s importance, emphasizing that transparency and collaboration are essential for achieving global climate goals. This tracker provides clarity and guidance, enabling stakeholders to make better decisions in both compliance and voluntary markets.

Know more about the tacker from this video:

Collaborative Efforts with Article 6.2 Crediting Protocol

Carboncredits also reported on Gold Standard’s collaboration with Singapore’s National Climate Change Secretariat (NCCS) and Verra’s Verified Carbon Standard (VCS) to develop the Article 6.2 Crediting Protocol. This initiative aims to create a streamlined framework that helps countries meet their climate targets under the Paris Agreement.

Over the past year, NCCS, Gold Standard, and Verra have worked closely with governments and climate experts to develop initial recommendations. The protocol is expected to simplify emissions reduction efforts and foster sustainable growth through international cooperation. Countries can start using the protocol in 2025.

This effort demonstrates how collaboration can accelerate global progress toward net-zero emissions.

The Carbon Market Regulations Tracker and the Article 6.2 Crediting Protocol highlight Gold Standard’s dedication to creating high-integrity solutions for climate security and sustainable development. By providing reliable tools, the organization empowers stakeholders to act decisively in addressing climate challenges.

As carbon markets grow increasingly complex, resources like this tracker will be invaluable. They simplify regulations, build trust, and encourage investment in impactful climate solutions. Gold Standard’s efforts set a benchmark for transparency, collaboration, and innovation in the fight against climate change.

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Top 4 Nickel Companies Driving Electrification and Clean Energy in 2025

Top 4 Nickel Companies Driving Electrification and Clean Energy in 2025

Nickel is a versatile metal critical for the clean energy revolution, especially in electric vehicle (EV) batteries. Its role in enhancing battery energy density and efficiency makes it indispensable for longer-range EVs.

As global demand for nickel surges, driven by electrification and renewable energy needs, it becomes a focal point for investors seeking growth opportunities.

With EV adoption accelerating, nickel demand is set to soar. According to Benchmark Mineral Intelligence, over 50% of nickel demand growth by 2030 will come from battery production, requiring an estimated 1.5 million metric tons annually.

The global shift toward high-energy-density batteries further cements nickel’s role. Additionally, global investment in nickel mining and refining infrastructure could surpass $66 billion by 2030, ensuring long-term supply stability.

For investors, the opportunity is immense. As automakers and governments prioritize EV adoption, demand for nickel could outpace supply, driving prices higher. Companies leading the charge in sustainable nickel production are well-positioned to capitalize on this growth, making them attractive investment options in 2025 and beyond.

However, investing in nickel stocks comes with its challenges. The mining industry is highly cyclical, with stock prices often fluctuating alongside nickel’s market value. Geopolitical events have further strained global nickel supplies and added volatility to the market. To mitigate risks, diversifying with a basket of nickel stocks could be a smart strategy.

With this in mind, here are four nickel companies to watch in 2025, known for their strategic importance and potential in the global nickel market:

Vale S.A.: A Nickel Powerhouse Driving the Energy Transition

Vale is a global leader in nickel production, playing a crucial role in enabling the transition to a low-carbon economy. With a US$38.52 billion market cap, the company accounts for 6%-7% of the global nickel supply. This makes the nickel company a critical supplier of electric vehicle (EV) batteries and renewable energy technologies.

In 2024, Vale produced 179,000 metric tons of nickel, with operations spanning Brazil, Canada, and Indonesia. The company has invested heavily in sustainable mining practices, including its flagship Voisey’s Bay and Sudbury operations in Canada. 

Voisey’s Bay alone could add 45,000 metric tons of nickel annually once its underground expansion is completed in 2025.

Vale is also at the forefront of decarbonization. Its revolutionary Onça Puma ferronickel operation in Brazil integrates energy efficiency measures that reduce CO₂ emissions. The chart below shows the nickel company’s GHG emissions profile. 

Vale GHG emissions 2023
Chart from Vale website

In Indonesia, Vale partners with local entities to develop high-pressure acid leach (HPAL) facilities to meet the growing demand for high-grade Class 1 nickel.

With EV adoption expected to skyrocket, Vale is aggressively expanding its nickel refining capacity. The company has partnered with automakers, including Tesla, to secure long-term nickel supply agreements. 

Vale’s low-carbon nickel production technology, certified for reducing greenhouse gas emissions by up to 90% compared to traditional methods, is a key selling point for environmentally conscious investors. 

Here’s the company’s recent financial performance:

Vale in numbers

Looking ahead, Vale plans to invest over $3 billion to modernize its nickel operations and further reduce carbon emissions. With a clear focus on nickel’s role in EVs, renewable energy, and advanced technologies, the nickel miner continues to attract investors seeking exposure to the green energy revolution.

Norilsk Nickel: The World’s Largest Nickel Producer Driving Sustainability and Innovation

Norilsk Nickel or Nornickel, the world’s largest producer of refined nickel with a US$19.39 billion market cap, is a powerhouse in the global metals market. Headquartered in Russia, the company accounts for over 20% of global high-grade nickel production and operates key assets on the Taimyr and Kola Peninsulas. 

With its commitment to innovation and sustainability, Nornickel is central to the transition toward greener technologies like EVs. Below is the company’s most recent financial highlights:

Nornickel financial highlights
Chart from Nornickel report

In 2024 (9 months), Nornickel produced approximately 146,210 metric tons of nickel, maintaining its status as a reliable supplier for the EV battery industry. The company’s focus on sustainable mining practices includes its pioneering carbon-neutral nickel production program, launched to support global decarbonization goals. 

Nornickel has pledged to reduce its greenhouse gas emissions by 25% by 2030, making it an attractive choice for ESG-focused investors. The nickel company’s GHG emissions have decreased since 2021.

Norilsk Nickel’s GHG emissions 2023
Chart from Nornickel report

The key to Nornickel’s success is technological innovation. The company is advancing the use of artificial intelligence and automation across its operations, improving efficiency and minimizing environmental impact. 

Notably, its Bystrinsky Mining and Processing Plant is recognized as one of the world’s most advanced facilities, producing nickel, copper, and other critical materials essential for EVs.

To ensure long-term supply stability, the mining giant is investing in exploration and modernization. The company plans to invest $8 billion by 2030 to upgrade its facilities and boost production of high-purity nickel, a key component of EV batteries. This includes expanding its Arctic operations, which hold vast untapped reserves of Class 1 nickel.

By securing long-term partnerships with global automakers and battery manufacturers, Nornickel is well-positioned to capitalize on the EV boom. Its commitment to sustainability, cutting-edge technologies, and robust supply chain solutions make it a top choice for investors looking to ride the wave of electrification.

BHP Group: A Global Leader in Sustainable Nickel Supply for EV Growth

BHP is one of the world’s largest mining companies and is diversifying its portfolio to include more nickel production. The company’s Nickel West operation, located in Western Australia, is a fully integrated business covering mining, smelting, and refining. This operation focuses on producing high-quality nickel products designed specifically for the EV battery supply chain.

The mining giant has invested around $3 billion since 2020 to develop a green nickel hub. However, as of mid-2024, BHP has paused its ambitions for this hub due to market challenges.

The company’s recent financial achievements are as follows, with a $126.29 billion market cap:

BHP Group financials

In 2024, BHP’s Nickel West produced over 80,000 metric tons of nickel, with 85% of this output directed toward EV battery manufacturers. The operation’s commitment to sustainability is evident in its low-carbon production processes, supported by investments in renewable energy. 

For instance, BHP recently announced a 50% reduction in greenhouse gas emissions at Nickel West by 2030, aligning with its broader decarbonization goals.

BHP GHG emissions 2030 target
Chart from BHP Group report

BHP is also ramping up its exploration efforts to secure future nickel resources through various initiatives. This includes its West Musgrave Project which it integrates into its portfolio following the acquisition of OZ Minerals in May 2023. This project is in the early stages of execution and is expected to significantly contribute to BHP’s nickel production upon completion.

The company is investing billions over the next five years to expand its nickel production capacity and modernize its operations. This includes developing the Venus nickel deposit and upgrading the Kalgoorlie Nickel Smelter and Kwinana Refinery. These efforts are aimed at meeting the surging demand for high-grade Class 1 nickel, essential for lithium-ion batteries.

Partnerships play a significant role in BHP’s strategy. The company has secured long-term agreements with major automakers like Tesla and Toyota to supply sustainable nickel for EV batteries. These partnerships enhance its position as a key player in the global EV supply chain, offering investors a solid growth trajectory.

With its focus on operational excellence, environmental sustainability, and strategic partnerships, BHP is poised to remain a leader in the nickel market, driving the transition to a low-carbon future and delivering value for shareholders.

Alaska Energy Metals Corp.: A Rising Star in the Nickel Revolution

Alaska Energy Metals Corp. or AEMC is a standout junior nickel miner based in Alaska with approximately CAD$23.87 million market cap, focused on the development of high-grade nickel resources in a low-carbon environment. It’s strategically positioning itself to meet the surging demand for nickel in electric vehicle (EV) batteries and renewable energy markets. 

The company’s flagship Nikolai Project, located in Southcentral Alaska, spans over 10,600 hectares of prospective land rich in nickel, copper, cobalt, and platinum group metals. Preliminary exploration results indicate a robust resource potential, with nickel grades rivaling some of the world’s top deposits. 

nikolai project alaska energy metals
Source: AEMC

AEMC is actively advancing exploration and development efforts, aiming to become a reliable source of Class 1 nickel, which is critical for high-energy-density batteries. The nickel junior has adopted a strong commitment to sustainability and environmental stewardship. The company plans to integrate renewable energy solutions into its operations to minimize its carbon footprint. 

Additionally, the rising nickel player is working closely with local communities and stakeholders to ensure responsible resource development that benefits the region economically and socially.

What sets AEMC apart is its strategic vision to fill the growing gap in the nickel supply chain, particularly in North America. By leveraging Alaska’s vast mineral wealth and a favorable regulatory environment, AEMC aims to become a key player in reducing reliance on foreign nickel imports.

As the EV market continues to grow—expected to exceed 50 million units annually by 2030, per Benchmark Mineral Intelligence—AEMC’s focus on sustainable nickel production positions it as an attractive opportunity for investors seeking exposure to the green metals revolution.

With its world-class resources, commitment to sustainability, and strategic location, AEMC could play a pivotal role in powering the next wave of electrification.

So, Why These Nickel Players?

Investing in top nickel companies provides a unique opportunity to participate in the energy transition. These firms are leading the way in supplying the critical metal essential for EV batteries and renewable energy technologies. 

With demand and production forecasted to grow globally and massive infrastructure investments underway, the nickel market is primed for growth.

global nickel production forecast 2030

The top nickel companies highlighted—Vale, Norilsk Nickel, BHP, and Alaska Energy Metals Corp.—each bring distinct advantages, from vast reserves to sustainability-focused operations. These attributes position them as key players in meeting global nickel demand. 

As EV adoption accelerates and nickel remains indispensable, these firms represent not just stability but growth potential, making them must-watch investments in the nickel boom.

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Boeing’s Big Move: Boosting EU Aviation with Norsk e-Fuel’s SAF

BOEING

The latest move in the sustainable aviation fuel (SAF) sector is Boeing’s partnering with Norway’s Norsk e-Fuel to help develop one of Europe’s first large-scale Power-to-Liquids (PtL) facilities.

This partnership aligns with the aviation industry and ICAO member states’ goal to reach net-zero carbon emissions by 2050. Also, Boeing’s investment will boost SAF production in the Nordics and globally.

Steve Gillard, Boeing’s regional sustainability director for Europe, Middle East, Türkiye, Africa and Central Asia.

“Our support of and collaboration with Norsk e-Fuel underscores the importance of using fossil-free energy to accelerate SAF production, which is key to reducing aviation’s carbon emissions towards 2050. Our partnership to advance e-fuels will help mobilize the commercialization of SAF in the Nordics and across the world, increasing accessibility and availability for our customers as we help build a robust SAF ecosystem.”

Boeing and Norsk e-Fuel Power Up Sustainable Aviation

Norsk e-Fuel, a Norway-based company that supplies fuels to the aviation industry, is pioneering SAF production through its innovative Power-to-Liquids (PtL) process. The company aims to accelerate the transition to renewable aviation by producing electro-SAF (e-SAF).

So What is e-SAF? 

Well, this advanced fuel is created by using fossil-free power to generate green hydrogen, which is then combined with recycled CO₂ from biogenic sources. Notably, the CO2 is extracted from the air using innovative Direct Air Capture (DAC) systems.

  • The result is a synthetic jet fuel that reduces greenhouse gas emissions by over 90% compared to traditional jet fuel.
Norsk e-Fuel SAF
Source: Norsk e-Fuel

Revolutionary Tech Powers Sustainable Fuel Production

Norsk e-Fuel combines cutting-edge technologies to create sustainable aviation fuel (SAF). The process includes Axens and Paul Wurth’s advanced Reverse-Water-Gas-Shift (RWGS) and Fischer-Tropsch units, along with the Gasel® upgrading unit. All these technologies boost energy efficiency and reduce emissions.

Second, Sunfire’s innovative electrolyzer, based on Solid Oxide Electrolyzer Cells (SOEC), uses steam and CO₂ to produce renewable syngas in one step. Next, the Smart integration of waste heat increases plant output, delivering 30% more fuel with the same energy input compared to gas-fired systems.

Lastly, Climeworks adds direct air capture technology to remove CO₂ directly from the atmosphere. Powered by renewable energy, it uses advanced filters to capture and release CO₂ for use or storage. Together, these technologies transform aviation fuel into a cleaner, greener solution.

Norsk e-Fuel SAF
Source: Norsk e-Fuel

Scaling Up: Large-Scale Facilities for a Cleaner Future

As a project developer, Norsk e-Fuel is establishing large-scale production sites to meet the aviation industry’s demand for sustainable fuels. The company works with strategic investors and key partners to bring industrial-scale Power-to-Liquid production to life. Its efforts focus on building a new value chain for sustainable fuels to drive renewable aviation forward.

Lars Bjørn Larsen, CCO of Norsk e-Fuel remarked on this partnership, saying:

“Our goal is to make e-fuels competitive with and eventually replace fossil fuels in critical infrastructures as SAF needs to become readily accessible and affordable for advancing aviation’s decarbonization. Boeing’s investment will further accelerate our project pipeline and will facilitate the broader aviation industry’s transition to net-zero emissions.”

Boeing’s investment in Norsk e-Fuel will aid the EU’s SAF volume targets. It will also boost energy security and the long-term competitiveness of aviation in the Nordic region. Overall, this collaboration has the potential to shape policies for the global SAF industry’s economic viability.

Clearing the Skies with SAF

Sustainable aviation fuel (SAF) is transforming the way aircraft are powered by offering a cleaner energy source. It helps reduce the aviation industry’s carbon footprint and dependence on fossil fuels. Despite its benefits, SAF made up only 0.53% of global commercial fuel use in 2024, as per the press release.

  • In Europe, the RefuelEU SAF initiative is driving change. It aims to gradually increase SAF’s share to 6% by 2030 and 70% by 2050.
  • For e-SAF, like the fuel Norsk e-Fuel produces, the targets are even more ambitious—1.2% by 2030 and 35% by 2050.
EU SAF
Source: EU

ReFuelEU Aviation, part of the EU’s Fit for 55 package, promotes SAF as the most effective way to lower aviation emissions. Fuel suppliers must blend SAF with traditional jet fuel at EU airports. This regulation supports the EU’s climate goals and will cut aviation CO2 emissions by over 60% by 2050 compared to 1990 levels.

The increased use of SAF also improves air quality by reducing harmful pollutants like CO, NOx, and PM, especially near airports. By embracing SAF, the aviation industry takes a major step toward a sustainable, cleaner future.

SAF
Source: Aviation Benefits

Boeing’s “Avoid First, Remove Second” Strategy to Cut Carbon Emissions

Boeing follows an “Avoid First, Remove Second” strategy to lower its carbon footprint. The focus is on avoiding Scope 1 and Scope 2 emissions by using renewable energy, energy-efficient systems, and sustainable aviation fuel (SAF). For emissions that are hard to reduce, Boeing invests in permanent carbon removal to support long-term carbon reduction.

Over the past four years, Boeing has voluntarily offset emissions from its manufacturing sites and business travel. In 2023, these offsets met strict global standards, ensuring they were measurable, verified, and tracked. Boeing also followed the aviation sector’s CORSIA framework for offsets.

The company plans to cut fossil fuel use by investing in renewable energy, energy-efficient infrastructure, and conservation efforts. For harder-to-reduce emissions, Boeing will increase investments in permanent removal technologies.

Sustainability Target

Boeing aims to cut greenhouse gas emissions by 55% by 2030. By the end of 2023, it reduced Scope 1 and Scope 2 emissions by 26% from 2017 levels. It also plans to use 100% renewable electricity to boost clean energy use and conservation efforts.

BOEING SAF emissions aviation
Source: Boeing

5 Key Areas to Decarbonize Aerospace

The company’s sustainability report also revealed that they are working with customers and governments to achieve net-zero emissions by 2050. And they are focussing on five key areas:

  1. Fleet Renewal: New airplanes are 20%-30% more efficient than older ones.
  2. Operational Efficiency: Boeing helps improve flight operations, air traffic management, and maintenance to cut emissions by up to 10%.
  3. Renewable Energy: Research on SAF and renewable energy drives sustainability in aviation.
  4. Advanced Technology: Boeing invests in cleaner designs, efficient propulsion, and advanced digital tools.
  5. Market-Based Measures: The company offsets emissions from business travel and invests in permanent carbon removal projects.

As Boeing brings its leadership in the SAF industry to this strategic partnership, Norsk e-Fuel adds its advanced technology and a strong network of partners. This includes Norway’s largest air carrier, Norway. Together, they aim to make sustainable aviation a reality, supporting global efforts to achieve net-zero carbon emissions by 2050.

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Nickel: The Metal Driving the Electric Vehicle Revolution

Nickel: The Metal Driving the Electric Vehicle Revolution

The shift to electric vehicles (EVs) is reshaping the automotive industry, creating unprecedented demand for critical metals. An EV contains 6x more critical metal than a conventional car, making metal resources the backbone of this electrification revolution.

For a typical 62.5 kWh battery-powered EV (NMC 811 composition), here’s the breakdown of key metals and their average raw costs as seen in the infographic (as of 2024):

  • Nickel: 43 kg, $764
  • Copper: 65 kg, $629
  • Graphite: 62.5 kg, $621
  • Lithium: 37 kg, $420
  • Aluminum: 80 kg, $204
  • Cobalt: 5 kg, $121
  • Manganese: 5.3 kg, $57

Among these critical metals, nickel plays a crucial role in battery energy density and performance. Compared to lithium, which primarily facilitates ion movement in batteries, nickel plays a larger role in boosting energy density and enabling longer-range capabilities in EVs. 

While cobalt enhances battery stability and manganese improves safety, nickel is critical for maximizing storage capacity and performance. Thus, it is indispensable for high-energy-density batteries.

With 43 kg of nickel per EV, nickel represents the largest raw material cost at $764. As EV adoption accelerates, the demand for nickel and other metals will only grow, putting pressure on global supply chains.

The industry faces a balancing act: ensuring a steady supply of these materials while keeping raw material costs sustainable. This dynamic will define the pace and scale of EV adoption in the years to come. So, what does the nickel future look like in keeping with the electrification revolution?

Nickel’s Charge: Powering the EV Boom with Energy Density and Efficiency

Nickel is poised to thrive as the EV revolution accelerates, driven by the growing demand for high-energy-density batteries. Nickel-rich chemistries, such as NMC 811, dominate EV battery production due to their ability to boost range and efficiency. 

  • By 2030, global EV sales are expected to exceed 50 million units annually, with batteries accounting for over 50% of nickel demand growth and requiring over 1.5 million metric tons of nickel, according to Benchmark Mineral Intelligence.

Moreover, global investment in nickel mining and processing could surpass $66 billion by 2030, underscoring the metal’s significance in meeting EV demand. 

Benchmark further projects that by the same period, 85% of battery cell production capacity outside China will rely on high nickel-based chemistries. There would be a growing shift toward high-nickel formulations over time.

high density nickel demand 2030 Benchmark

Consequently, nickel’s share of raw material costs in EV batteries will also rise, potentially impacting overall production expenses. 

Tackling Uncertainties and Bridging the Gap

But wait, there’s a problem: supply-demand imbalances remain a concern due to significant variations in production forecasts. The difference between the highest and lowest projections amounts to nearly 60% of the current supply. This reveals the uncertainties in meeting future nickel demand, especially for EV batteries.

So to meet the escalating demand, significant investments in sustainable nickel mining and refining infrastructure are essential, ensuring a stable and cost-effective supply chain for the burgeoning EV market. Alaska Energy Metals Corp. (AEMC) is addressing these challenges head-on by leveraging Alaska’s rich nickel resources. The company focuses on strengthening the nickel supply chain with a low-carbon approach, supporting the EV market’s rapid growth.

As nations and automakers prioritize electrification, nickel remains at the core of the energy transition, driving innovation and market expansion.

FEATURED: Live Nickel Prices

READ MORE: Nickel Prices in 2025: Indonesia’s 40% Supply Cut Plan and EV Market Shifts

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