What can #investors expect from a new Labour government in the UK? A bigger focus on boosting #spinout numbers and more investment in electricity grid upgrades are among the things worth noting in the Labour manifesto. Here's what jumped out at us: https://lnkd.in/ejmbHi36 #CVC #VC #startups #investment #energy #sustainability
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As an angel in many winning "X for Y" startups (who retrofit winning ventures to different geos or verticals), I'm fired up... The US Grid is old; Germany faced a similar problem years ago. Their solution? Leveraging government subsidies for power sustainable generation + storage = customer savings: Enpal ($3.3B raised) and 1KOMMA5° ($502m raised) lead the way in EU. -- We face a similar problem now: Over 70% of the U.S. electricity grid is >25 years old, meaning grid operators need to fund upgrades, resulting in steep price hikes for consumers. "AI is pushing America’s power grid to the brink. Utilities can’t keep up." - The Washington Post. But maybe history rhymes? The U.S. Department of Energy (DOE) subsidized $161B of clean electricity and equipment like solar and battery prices have dropped 99%, and the Inflation Reduction Act (IRA) offers a 30% Tax Credit on clean energy spending until 2032. Why I'm bullish: The US has the best debt facilities to finance the clean energy transition. - Aside: Enpal and 1KOMMA5° raised debt capital in 2021, the peak of the bull market... Do any #debtfinancing experts know if this means they face refinancing risk?
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Following Rishi Sunak’s announcement on Monday regarding further investment in carbon capture in Scotland, our Chief Commercial Officer James Barrett-Miles, was invited to comment on why carbon capture is crucial to the fight against #climatechange, what the next five years hold for us at KEW, and his thoughts on the government’s latest investment. James was well-placed to comment on this subject given KEW Technology has two projects funded by Department for Energy Security and Net Zero to demonstrate three innovative carbon capture technology processes at our flagship Sustainable Energy Centre (read more about those projects here https://lnkd.in/ekE49Jsm and here https://lnkd.in/ez74CvNa). Demonstration is planned for 2024, with commercial deployment of the technology planned for 2025 onwards across a wide scale of CO2 capture. “The urgency to achieve our 2030 targets necessitates swift action. We firmly believe that establishing CCS infrastructure is paramount to securing the UK's supply chain and enabling the prosperity of local industries. This infrastructure empowers industries to thrive while effectively reducing their emissions, aligning with our shared vision of transitioning to a net-zero economy.” Read the full story in startups.co.uk: https://lnkd.in/eR-F2j6N #carboncapture #thoughtleadership #innovationtechnology
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H2 Green Steel, led by CEO Henrik Henriksson and CFO Otto Gernandt, achieves a historic milestone securing over €4 billion in debt financing, along with €300 million in equity and a €250 million grant from the EU Innovation Fund. Their commitment to decarbonizing the steel industry is evident, and the massive support from lenders, investors, and the Innovation Fund is a testament to the quality of their groundbreaking project. #PropTechBuzz #GreenSteel #Sustainability #Decarbonization #Innovation #H2GreenSteel #EuropeanUnion #SteelIndustry #ClimateAction Read more-https://lnkd.in/ghEiJzur -------------------- If you are a proptech company and want to promote your products, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
H2 Green Steel Secures Over €4 Billion in Debt Financing for World's First Large-Scale Green Steel Plant - Prop Tech Buzz H2 Green Steel Secures Over €4 Billion in Debt Financing
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Venture Capital Expert & Innovator | Curated Startup Investments I Angel investment l Innovation Ecosystem Architect I Driving Global Impact & Talent Transformation | Stanford & Oxford Alumni"
Third of Vision 2030 projects ‘completed’ government says The SPA report highlighted a number of Vision 2030 metrics as being on target, including home ownership of 53.7 percent Government report on Vision 2030 87% of initiatives ‘completed or on track’ PIF ‘a major economic driver’ One third of 1,064 planned projects have been completed so far under the Vision 2030 economic transformation plan, the Saudi government said in its annual progress report on the reform programme. The report also said 561 initiatives were on track, according to the state-owned Saudi Press Agency, publishing its major findings. It was not clear what definition was being used for measuring the initiative. The reforms are spearheaded by giga-projects owned by the Public Investment Fund (PIF), and each one contains many smaller projects. There have been recent concerns about the viability of some projects. https://lnkd.in/djMXkJXs By @Andrew Hammond
Third of Vision 2030 projects 'completed' government says | AGBI
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Tata Steel, UK Announce 1.25 Billion Pound Joint Investment Plan London/New Delhi: The United Kingdom on Friday announced a joint investment package with Tata Steel worth 1.25 billion pounds, including a government grant of 500 million pounds, for the country’s largest steelworks in Wales that will help protect thousands of jobs and boost the British economy. The government’s grant has been dubbed as one of the largest British government support packages in history and a “defining moment” for the country’s steel industry. As part of the agreement, the Indian steel giant is expected to invest GBP 1.25 billion, including the government grant, in a new electric arc furnace and related facilities for greener steel production at Port Talbot in South Wales, currently the UK’s largest single carbon emitter. “This investment will modernise and secure a more sustainable future for the UK steel industry. “It will also protect thousands of skilled jobs in the long-term and help grow the economy,” UK Prime Minister Rishi Sunak said in a post on social media platform X. Tata Steel UK employs over 8,000 people, including at Port Talbot, which was under serious threat without substantial investment. The company also supports around 12,500 further jobs in the upstream supply chain. The Department for Business and Trade (DBT) on Friday said the proposal, which is subject to information and consultation processes led by Tata Steel, has the potential to safeguard over 5,000 jobs across Britain. “The UK government is backing our steel sector, and this proposal will secure a sustainable future for Welsh steel and is expected to save thousands of jobs in the long term,” UK Business and Trade Secretary Kemi Badenoch said. According to her, this is a historic package of support from the UK government and will not only protect skilled jobs in Wales but also “grow the UK economy, boost growth and help ensure a successful UK steel industry”. Tata Steel and the UK government have announced a joint agreement on a proposal to invest in state-of-the-art electric arc furnace steel making at the Port Talbot site with a capital cost of 1.25 billion pounds, inclusive of a grant from the government of up to 500 million pounds, the company said in a statement. The new electric furnace is to replace the existing coal-powered blast furnaces, which are nearing the end of their effective life, and reduce the UK’s entire carbon emissions by around 1.5 per cent as a result. The proposal is subject to relevant regulatory approvals, information, and consultation processes, and finalisation of detailed terms and conditions. “The agreement with the UK government is a defining moment for the future of the steel industry and indeed the industrial value chain in the UK,” said Tata Group Chairman N Chandrasekaran, who had been working with the government in developing a “transition pathway” for sustainable steelmaking in the UK. “The proposed investment will preserve signif...
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COO/Acquisition\Sales at SimplyMeats Traceable Distribution Inc
1wIt's time..