bp expands its offering in European gas, power and integrated energy solutions

bp has now completed its acquisition of GETEC ENERGIE GmbH, a leading supplier of energy to commercial and industrial (C&I) customers in Germany. Agreement for this deal was announced in January 2024. The acquisition of GETEC ENERGIE GmbH will accelerate the growth of bp’s European gas and power presence, as well as providing opportunities to

HD Hyundai invests in European fuel cell manufacturer

Korea Shipbuilding & Offshore Engineering, a member of HD Hyundai Group, has invested $48m in fuel cell developer Elcogen. HD Hyundai’s investment follows an extensive period of testing the full range of technology available in the market, following which an R&D collaboration agreement was signed with Elcogen in January 2023, which was focused on further

European aviation needs €‎800bn in extra to reach netzero

European aviation faces more than €‎800bn in extra costs to reach net zero emissions by 2050 to limit climate change. The industry has committed to hitting net zero carbon emissions through a mix of new technologies, notably alternative fuels, as well as carbon offsets and more efficient aircraft, engines and air traffic management.  Reaching net

e1 Marine teams up with Navtek for developing hydrogen-powered vessels

US-based methanol-to-hydrogen technology company e1 Marine has teamed up with Turkish naval design and engineering specialist Navtek to develop hydrogen-powered vessels for the European market. The first project will see the development of a 120- to 160 m-long hydrogen-powered car carrier design that requires 8 MW to 10 MW propulsion, with the focus then shifting

Kazakhstan green hydrogen key to European decarbonization

Kazakhstan has an abundance of minerals such as copper, which will be critical to supporting the electric revolution, such as battery electric vehicles. At the same time, it is also prepared to produce green hydrogen for export. This places the country in a central position in Europe’s overall efforts for decarbonization. The country has developed

Wärtsilä plans to further optimise its European engine manufacturing footprint

Wärtsilä plans to ramp down manufacturing in Trieste, Italy and to centralise its 4-stroke engine manufacturing in Europe to Vaasa, Finland. Ending the manufacturing in Trieste is expected to impact approximately 450 employees with potential redundancy. The estimated full annual cost savings are approximately 35 MEUR by 2025 and the associated transformation costs are expected

ETS scheme for shipping gets nod in European Council

Environment ministers in the European Council (EC) have agreed to include maritime shipping emissions within the scope of the EU emissions trading system (ETS), part of the “Fit for 55” package. The scheme aims to reduce greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels. The Council agreed to phase in

PKN Orlen to invest $1.73 bn in hydrogen projects

PKN Orlen has announced it will invest $1.73 bn on low and zero-carbon hydrogen development projects by 2030 to help build a hydrogen economy in Europe. The multi-utility company which provides energy and fuel for more than 100 million Europeans, has developed a Hydrogen Strategy covering four key areas: mobility, refining and petrochemicals, research and