Blackstone is strategically pushing into the data center industry by expanding its operations in the Asia-Pacific region.
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The rise of renewable energy demands a substantial increase in battery production, presenting environmental risks such as greenhouse gas pollution and ethical concerns in the supply chain, particularly in mining operations for raw materials like cobalt. The Global Battery Alliance (GBA) is promoting the use of battery passports—digital records that meticulously trace the origin of each battery component while assessing its environmental and social impact. This ensures the way for a sustainable and socially responsible battery industry.
The battery passport seeks to mitigate environmental and social risks, providing much-needed transparency and accountability in an industry critical for a sustainable future.
In January of last year, the GBA released the first proof of concept for the battery passport, focusing on evaluating greenhouse gas emissions, human rights, and child labor. The initiative plans to expand its scope to include additional factors like biodiversity and indigenous peoples' rights.
"How can we scale this industry in a way that meets the targets of the green transition, but at the same time doesn’t cause collateral damage that would ultimately offset what we’re trying to achieve?" - Inga Petersen, Executive Director of the Global Battery Alliance.
The success of the battery passport could influence other sectors grappling with supply chain transparency issues, such as the US Department of Labor's identification of products suspected of being produced with child or forced labor.
Despite advancements, challenges persist, and the implementation of the battery passport will need to navigate complexities in supply chains and information accessibility.
Story
Bitfinity, a blockchain network, secures $7 million in funding across two rounds, with a valuation of $130 million. The Bitcoin Layer 2 network, built on the Internet Computer protocol (ICP), allows for faster and more scalable transactions, making it an appealing platform for developers and users alike.
Bitfinity's funding rounds, featuring prominent investors like Polychain Capital and Warburg Serres, highlights the growing interest in Bitcoin Layer 2 solutions. The project's focus on enhancing decentralized finance activities on the Bitcoin blockchain aligns with broader trends shaping the crypto landscape.
Bitfinity Co-founder Max Chamberlin emphasizes the project's potential, stating, "Bitfinity will not only handle Bitcoin Ordinals and BRC-20 tokens but also EVM assets. The Bitfinity EVM will enable the deployment of EVM dApps with speeds 100 times faster than Ethereum and at a fraction of the cost."
With the mainnet launch scheduled for late January or early February, the transition from the testnet phase marks a crucial milestone.
Because Bitfinity is built on the ICP, one of the advantages is it is compatible with the Ethereum Virtual Machine (EVM), enabling 100 times faster deployment of decentralized applications (dApps) compared to Ethereum at a lower cost.
Several dApps, including Sonic, Synthetix, and Liquity, have already joined Bitfinity, attracted by its support for the EVM. This integration opens new possibilities for developers, bridging the gap between Bitcoin's security and the Internet's speed.
Ahead of the mainnet launch, Bitfinity plans to expand its team and the native token is expected to be listed on several cryptocurrency exchanges. Bitfinity is well-positioned to capitalize on Bitcoin's evolving functionality through layers like Ordinals and BRC-20, presenting itself as a leading platform for developers crafting advanced dApps.
While Bitfinity boasts impressive speed and cost advantages, the industry will closely watch its ability to maintain security standards amidst rapid growth.
Story
French fast-charging provider Electra has successfully raised €304 million (USD $330 million) in equity funding. The cash injection will help Electra achieve its goal of installing 2,200 stations housing 15,000 charging points across Europe by 2030.
The fundraising is the largest in the charging sector's history in France and the second-largest in Europe. Headquartered in Paris, Electra has grown immensely since their launch in 2021 thanks to widespread EV adoption in Europe and a collective effort to reduce carbon emissions.
Aurélien de Meaux, Co-founder and CEO of Electra, emphasizes, "The transition to electric mobility is a key aspect of the energy transition, with the transportation sector being the largest CO2 emitter in France. We are creating a network that is very easy to use, making the transition to electric vehicles desirable and not a constraint."
Electra aims to become a pan-European player in the fast charging EV infrastructure market. The company's strategic deployment of nearly 1,000 charging points across several European countries sets the stage for their growth.
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