Blackstone is strategically pushing into the data center industry by expanding its operations in the Asia-Pacific region.
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Ascend Elements, a closed-loop battery materials provider, has secured $162 million in new equity investments, contributing to a total of $704 million raised over the past 12 months, with significant backing from Just Climate, Clearvision Ventures, IRONGREY, Decarbonization Partners, Temasek, and Qatar Investment Authority. This investment supports a 1-million square foot lithium-ion battery plant in Kentucky.
By recycling lithium-ion batteries and manufacturing new, engineered battery materials, Ascend addresses the need for sustainable practices within the EV market and promotes a circular economy.
Ascend Elements CEO Mike O’Kronley expressed gratitude towards partners for their faith in the company’s vision, stating, “By recycling lithium-ion batteries and making new, engineered battery materials with lower carbon emissions, Ascend Elements is accelerating the global transition to zero carbon emissions.”
With the Apex 1 facility set to commence operations in early 2025, it is expected to produce materials for up to 750,000 electric vehicles annually, with support from the U.S. Department of Energy and the Bipartisan Infrastructure Law.
The company is pioneering an ultra-efficient method to produce sustainable pCAM and CAM from the black mass, diverging from the conventional production in China from primary metals. This process not only offers economic and carbon reduction benefits but also ensures performance on par with materials sourced from mined reserves.
This development follows a $542 million funding round in September 2023, highlighting Ascend Elements’ rapid growth and the increasing investor confidence in sustainable technologies.
Story
As the world transitions to renewable energy and EVs, copper has emerged as a key component of technological innovation and sustainability.
The global copper industry faces a tumultuous landscape marked by significant supply disruptions in major producing countries like Peru and Panama, juxtaposed against a backdrop of soaring demand, particularly from China.
Protests in Peru, following the ousting of President Pedro Castillo, and legal challenges in Panama have significantly disrupted copper production. A strike at Peru's Las Bambas mine and Panama’s top court ruling against First Quantum Minerals' operation of the Cobre Panama mine have together resulted in a loss of nearly 600,000 tonnes of copper production.
Contrary to expectations of a slowdown, China's copper consumption reached a record 27.54 million tons in 2023, driven by military, national security demands, and a recovering property sector. Anticipated financial injections are expected to further boost demand, challenging the consensus view of a weakening market.
The shutdown of key mines and reduced ore quality in Chile have led to a tight copper market, with current prices deemed too low to incentivize new mining projects. Forecasts suggest the price needs to reach $15,000 per tonne to address future deficits and encourage greenfield projects, significantly higher than the current price of approximately $8,200 per tonne.
The Li Keqiang index, reflecting more volatile economic growth in China than official GDP figures suggest, shows a strong correlation with copper prices. Goldman Sachs predicts a significant copper deficit in 2024, exacerbated by mining disruptions, and warns of a tight market entering a period of clearer tightening.
Copper's critical role in the global green economy is underscored by its inclusion in the US Department of Energy's critical materials list. With demand likely to double by 2035 for net-zero emissions targets, shortages could impede global growth, increase manufacturing costs, and jeopardize climate goals. The industry faces challenges in meeting demand due to supply constraints, underinvestment, and ongoing demand from China.
Story
The trading of African cookstove carbon credits above $7.50 marks a significant milestone, showcasing the sector's robustness amid challenges and its alignment with sustainable development goals.
Amidst scrutiny over carbon credit methodologies and concerns of over-crediting in various sectors, the cookstove market's resilience showcases the importance of innovative environmental finance in addressing global carbon emission challenges. This sector's performance is particularly noteworthy against the backdrop of broader market volatility, highlighting the intersection of technology, finance, and sustainable development in emergent industries.
"This recent transaction not only highlights the financial viability of cookstove credits but also affirms the sector's critical role in achieving sustainable development goals," stated a spokesperson from Key Carbon.
The Integrity Council for Voluntary Carbon Markets (ICVCM) is set to introduce the Core Carbon Principles (CCP) stamp, potentially elevating the standard and integrity of cookstove methodologies. This development could further bolster the market, ensuring cookstove credits remain a key component of global carbon reduction strategies.
The diverse pricing and demand across regions reflect the nuanced dynamics within the cookstove credit market. With varying prices based on credit vintage, region, and certifier, the sector offers a complex but insightful case study on the voluntary carbon market's functioning and its potential for contributing to a more sustainable world.
The cookstove sector's resilience and its broad array of social and economic benefits highlight a key intrigue: how sustainability-focused innovations can thrive despite methodological criticisms and market challenges.
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