Daily News Wrap-Up: Hyundai to Assign over $87 Billion for Electric Vehicles by 2025
TAQA and Abu Dhabi Ports building industrial-scale green hydrogen to ammonia export project in Abu Dhabi
Here are some noteworthy cleantech announcements of the day from around the world:
Auto major Hyundai Motor Group has announced that it will allocate over $87 billion to develop electric vehicles (EV) and autonomous vehicles by 2025. The move is part of Strategy 2025 – the firm’s electrification strategy roadmap. To realize the project, Hyundai has partnered with multiple stakeholders, including EV component manufacturers dealing in batteries, charging infrastructure, battery recycling, leasing companies, and shared mobility companies. Hyundai intends to expand the portfolio of EVs to 44 models by 2025, including 23 battery EVs, 13 hybrids, six plug-in hybrids, and two fuel-cell electric models.
Dutch automotive manufacturing company Stellantis N.V. aims to invest over €30 billion (~$35.47 billion) in electrification and software over 2025 with a focus on automotive efficiency. The initiative would also involve 30% better investment efficiency than the industry average. The initiatives are part of the company’s comprehensive electrification strategy. The firm further targets over 70% of sales in Europe and over 40% in the United States to be low emission vehicles by 2030.’
German full-service biogas provider EnviTec Biogas has partnered with SEPURAN® Green for bio-LNG production. Under the pact, biogas will be liquefied into 9,000 tons of biomethane per year at EnviTec’s 31-hectare BioEnergie Park in Güstrow, Germany. Production is set to begin in the fall of 2022. EnviTec aims to utilize SEPURAN® Green’s membrane technology to upgrade biogas production, replacing the already obsolete pressurized water scrubbing technology. 150,000 metric tons of mostly agricultural waste is expected to be upgraded into high-purity bio-LNG at the 500 GWh biogas processing plant in Güstrow.
Abu Dhabi National Energy Company PJSC (TAQA) and Abu Dhabi Ports have come together to develop an industrial-scale green hydrogen to ammonia export project in Abu Dhabi. Under the memorandum of understanding signed between the partners, the companies would work together on developing proposals for a green ammonia export facility to be based in Khalifa Industrial Zone Abu Dhabi. The new plant would use hydrogen produced by an electrolyzer facility paired with a 2 GW solar photovoltaic plant. The green hydrogen would be converted into liquid ammonia as bunker fuel in ships and for export from Abu Dhabi Ports. The TAQA-Abu Dhabi Ports project will also feature a storage facility at Khalifa Port to enable green ammonia export to international markets, including Europe and the East Asia.
Malaysian oil and gas company Petronas aims to power its assets across Malaysia with solar energy. The company is looking to increase energy efficiency and reduce carbon emissions through the drive. This initiative is part of the company’s efforts towards advancing its sustainability program and achieving net-zero carbon emissions by 2050. Petronas will use its M+ solar solution for the installations. The initiative would help power the firm’s assets with a reliable supply of solar energy for longer durations and optimize performance using the Hawk AI data monitoring system.