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					</table><p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>Energy Efficiency Services Limited (</strong><a href="https://eeslindia.org/en/home/" target="_blank" rel="noopener"><strong>EESL</strong></a><strong>), as part of its Smart Meter National Program, installed over three million smart meters </strong><strong>in Rajasthan, Uttar Pradesh, Haryana, Delhi, Bihar</strong>, <strong>and Andaman</strong>. The company has signed agreements with the state-designated agencies and utilities in these regions for the large-scale deployment of smart meters. EESL aims to install over 4.7 million smart meters by December 2023. EESL recently installed over 1.05 million prepared smart meters in Bihar. The company has also installed around 1.16 million smart meters in Uttar Pradesh. Over 124,000 smart meters were installed in Rajasthan, 530,000 in Haryana, 64,000 in Delhi, and 74,000 in Andaman.</p>
<p><strong>Bahrain plans to </strong><a href="https://www.prnewswire.com/news-releases/bahrains-electricity-and-water-authority-tenders-landfill-remediation-project-in-preparation-for-a-100-mw-solar-farm-301636762.html" target="_blank" rel="noopener"><strong>build</strong></a><strong> a solar park with at least 100-MW capacity </strong><strong>at Askar in the country&#8217;s Southern Governorate.</strong> Bahrain&#8217;s Electricity and Water Authority launched its tendering process to appoint a qualified contractor to remediate a two-square-kilometer landfill site to prepare the plot for developing and implementing a solar project with a minimum capacity of 100 MW. The tender scope also includes the site investigations to meet the required performance specification and environmental monitoring of the landfill site at agreed intervals until 12 months following the completion of the site remediation. Bahrain plans to target investments worth $30 billion in strategic projects, including renewable energy.</p>
<p><strong>Faurecia&#8217;s hydrogen technology project was </strong><a href="https://www.faurecia.com/en/newsroom/european-union-trusts-faurecia-develop-affordable-clean-mobility-solutions" target="_blank" rel="noopener"><strong>granted</strong></a> <strong>€213 million (~$208.14 million) of public support from the European Commission as part of the Hydrogen Important Project of Common European Interest (IPCEI program). </strong>The zero-emissions mobility activities of Faurecia were selected as being of common European interest. Faurecia is among the ten projects supported by the French government in IPCEI. A fund of €2.1 billion (~$2.05 billion) will support those ten projects to accelerate the hydrogen industry in France. The fund will enable the development of a new generation of gaseous and liquid hydrogen tanks. Faurecia&#8217;s plant in Allenjoie will produce over 100,000 tanks annually; production will start in 2024.</p>
<p><strong>The U.S. Department of Energy (DOE) </strong><a href="https://www.energy.gov/articles/doe-announces-24-million-advance-solar-thermal-and-industrial-decarbonization-technologies" target="_blank" rel="noopener"><strong>released</strong></a><strong> a new roadmap and awarded $24 million to ten research teams to advance next-generation concentrating solar-thermal power (CSP) technologies.</strong> Five of these ten projects will focus on advancing industrial uses for this technology, specifically in the cement, hydrogen, and chemicals sectors, and help advance the goals laid out in DOE&#8217;s Industrial Decarbonization Roadmap and recently launched Industrial Heat Shot. The other five projects will support DOE&#8217;s $100 million ongoing efforts to develop next-generation CSP plants, which can generate low-cost electricity anytime. Today&#8217;s announcements will further advance the development and deployment of solar energy technologies and help support President Biden&#8217;s goal of achieving a net-zero economy by 2050.</p>
<p><strong>Umicore </strong><a href="https://www.umicore.com/en/newsroom/news/umicore-inaugurates-europes-first-battery-materials-gigafactory/" target="_blank" rel="noopener"><strong>inaugurated</strong></a><strong> its carbon-neutral production facility for active cathode materials for electric vehicles in Nysa, Poland.</strong> The gigafactory will supply battery materials to Umicore&#8217;s car and battery cell customers in Europe and marks an important step in achieving the European Union&#8217;s ambition of having a battery ecosystem that is both sustainable and competitive on a global scale. Nysa&#8217;s annual production capacity is set to reach 20 GWh by the end of 2023 and 40 GWh in 2024, with the potential to rise to over 200 GWh, or 3 million electric vehicles, in the second half of the decade. This growth trajectory is part of Umicore&#8217;s ambition to reach a worldwide capacity of more than 400 GWh by 2030 and an overall strategy to establish fully integrated regional battery material value chains on three continents.</p>


Daily News Wrap-Up: EESL Installs Over Three Million Smart Meters


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					</table><p><a href="https://www.umicore.com/" target="_blank" rel="noopener">Umicore</a><u>,</u> a Belgium-based circular materials technology company, and Volkswagen Group’s battery unit <a href="https://www.powerco.co.nz/" target="_blank" rel="noopener">PowerCo</a> have announced a joint venture with a plan to invest about €3 billion ($2.9 billion) to establish a large-scale supply chain for sustainable batteries.</p>
<p>Under the terms of the agreement, the two companies will jointly control the venture and equally share costs, investments, revenues, and profits. The long-term partnership includes the production of precursor and cathode materials in Europe, which are the core input materials and central to the creation of battery value.</p>
<p>The joint venture will start with material for 40 GWh of capacity by 2026 at Volkswagen&#8217;s first battery plant in Salzgitter, Germany. The carmaker plans to build six battery factories in Europe, totaling 240 GWh capacity by 2030.</p>
<p>At a later stage, Umicore will provide refining services to PowerCo, aiming to include refining and battery recycling elements.</p>
<p>In addition, Umicore and PowerCo will collaborate on the sustainable and responsible sourcing of raw materials.</p>
<p>&#8220;This partnership further strengthens and diversifies our exposure to a major player in the EV (electric vehicle) value chain and marks an important step in the execution of our strategy to set up value creative partnerships across the battery value,” said Mathias Miedreich, CEO of Umicore.</p>
<p><strong>Cathode Material Production</strong></p>
<p>Under the partnership, PowerCo’s European battery cell factories will be supplied with key materials by 2025. By the decade&#8217;s end, the partners aim to produce cathode materials and their precursors for 160 GWh cell capacity per year. This would account for an annual production capacity of powering about 2.2 million fully electric vehicles.</p>
<p>Cathode-active materials are imperative for a successful transition towards e-mobility as they are the key technological lever for battery performance and the biggest contributor to overall battery cost.</p>
<p>&#8220;Cathode material is an indispensable strategic resource for battery production, accounting for roughly fifty percent of the overall cell value. Immediate and long-term access to extensive capacity is thus a very clear competitive advantage. We are setting up a sustainable, transparent supply chain with high environmental and social standards, localizing value creation here in Europe,” said Thomas Schmall from Volkswagen Group.</p>
<p>This unique cooperation in the European automotive industry is designed to meet both partners’ profitability and return criteria. It will provide Umicore with secured access, through firm take or pay commitments, to an important part of the European demand for EV cathode materials at guaranteed value creative returns. PowerCo will secure cost-competitive access to Umicore’s innovative, sustainably sourced, high-performance battery materials for its unified cell strategy in Europe.</p>
<p>The transaction remains subject to regulatory approval and customary closing conditions. The name of the joint venture has not been decided yet.</p>
<p>Europe is expected to <a href="https://mercomindia.com/europes-battery-cell-capacity-increase-1-5-twh-2030/" target="_blank" rel="noopener">achieve</a> a battery cell production capacity of 124 GWh during 2022, with significant Asian cell producers expanding operations. With current announcements for the construction of battery cell factories covering at least 15 European nations, the latest numbers reveal that Europe will likely accommodate around a quarter of global battery cell production capacities by the end of the decade.</p>
<p>According to Mercom Capital’s <a href="https://mercomindia.com/corporate-funding-battery-storage-up-1h-2022/" target="_blank" rel="noopener">1H and Q2 2022 Funding and M&amp;A Report for Storage, Grid &amp; Efficiency</a>, global corporate funding for battery storage, smart grid, and energy efficiency companies in the first half of 2022 touched $17 billion.</p>


Umicore and Volkswagen’s PowerCo in €3 Billion Deal for Battery Materials Production

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