Jefferies values Reliance’s green hydrogen business at $8 bn

Foreign brokerage Jefferies, which has a base case target of Rs 3,100 on Reliance Industries (RIL), said EU and India’s 2030 green hydrogen (H2) targets translate into a $74 billion total addressable market (TAM) for RIL’s electrolyzer manufacturing business. In a report, Jefferies said RIL would replace gray H2 with green at its refineries and

ClearFlame Engine offers engine modifications

ClearFlame Engine Technologies, is proving companies don’t need to choose between their bottom lines and hitting ESG targets. ClearFlame is cleaning up existing assets through engine modification to decrease fleets’ carbon footprints, while at the same time saving them money on operating costs and offering the same performance drivers are used to. The company’s solution

Can national hydrogen mission bring energy transition in India?

The Union Cabinet has approved the National Green Hydrogen Mission to promote green hydrogen in a bid to cut emissions and become a major exporter in the field. The move is aimed at making India the global hub for the production of green hydrogen and achieve netzero carbon emissions by 2070. Hydrogen, made by splitting

KSOE wins order for LNG carriers

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said that it has bagged a 971.4 billion-won (US$784 million) order to build three liquefied natural gas (LNG) carriers from an Oceanic shipper. KSOE said Hyundai Heavy Industries Co., one of its three affiliates, will build the 200,000-cubic-meter LNG vessels at its shipyard in the southeastern port of

C1 start-up raises growth capital from Maersk

The Climate tech start-up C1 has raised growth capital from Maersk Growth, the Venture Capital Arm of A. P. Møller – Maersk to faster scale their ultra-efficient catalysis, which will enable the mass production of green methanol without the usual premium paid for sustainably produced methanol. Besides the ability to function as a carbon-based feedstock

India to invite bids for green hydrogen plants in May

India will by May invite bids for subsidies for setting up green-hydrogen manufacturing and utilisation hubs, fertiliser and steel plants based on the fuel, and factories for making electrolysers. The bidding process is part of a first phase of a $2 billion incentive plan announced last week to boost use of green hydrogen to cut

Unity Industries and Suruchi Foods to set up Ethanol plants

The Chhattisgarh government has signed memorandums of understanding (MoUs) with both the companies — Unity Industries Private Limited and Suruchi Foods Private Limited — for setting up the plants. Both the proposals are likely to create jobs for 920 people in the state. According to industry department officials, Unity Industries signed an agreement for ethanol

Equatorial Marine becomes the top fuel supplier at Singapore

Equatorial Marine Fuel Management Services Pte Ltd rose one spot to become the top marine fuel supplier at world’s largest bunkering hub Singapore in 2022. Equatorial overtook PetroChina International Singapore Pte Ltd, who dipped from its top ranking in 2021 to second spot in 2022, while Trafigura’s TFG Marine Pte Ltd climbed two spots to

Project Air in Sweden to receive $105 mn from EU funding

Project Air is an industrial collaboration to build a unique production facility for sustainable methanol in Stenungsund in Sweden. The country will now receive EUR 97 million in support from the EU Innovation Fund. The announcement marks an important milestone for the project, which is being led by chemicals company Perstorp AB. The facility is

Fossil fuel producers should help world reach netzero, say scientists

Fossil fuel companies should be forced to “take back” the carbon dioxide emitted from their products, handing them direct responsibility for cleaning up the climate, a group of scientists has argued. The principle that the producer of pollution should pay for its clean-up is established around the world, but has never been applied to the