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Bonfiglioli USA Celebrates 25 Years of Excellence
Jul 12, 2024

Bonfiglioli USA Celebrates 25 Years of Excellence

Bonfiglioli USA, a leading provider of geared motors and drive systems, is proud to announce its 25th anniversary. While the company’s roots in North America trace back to Canada in 1986, Bonfiglioli USA’s establishment in 1999 marked a significant expansion and solidified its presence in the United States.

Bonfiglioli USA has been instrumental in delivering innovative and high-quality solutions to a wide range of industries, including construction, material handling, mining, and agriculture. The company’s commitment to customer satisfaction, technological advancement, and operational excellence has been the cornerstone of its success.

To commemorate this milestone, Bonfiglioli USA hosted a celebratory event for its employees, recognizing their contributions to the company’s growth. The event featured a look back at the company’s journey, highlighting key achievements and milestones.

“We are incredibly proud to celebrate 25 years of serving our customers in the United States,” said Greg Schulte, President and CEO at Bonfiglioli USA. “This milestone is a testament to the hard work and dedication of our employees and through the partnerships and collaboration with our valued customers. We look forward to continued growth and success in the years to come.” 

Bonfiglioli USA | https://www.bonfiglioli.com/usa/en

ESG Clean Energy’s Carbon Capture System Achieves 100% Removal From Fossil Fuel Power Plant Emissions
Jul 12, 2024

ESG Clean Energy’s Carbon Capture System Achieves 100% Removal From Fossil Fuel Power Plant Emissions

ESG Clean Energy, LLC, developers of power generation/carbon capture systems with zero carbon output, announced that its carbon capture system has achieved capturing 100% of the CO2 from a combustion exhaust stream, making it possible for any internal combustion engine – big or small – to have no carbon dioxide emissions.

ESG’s carbon capture system consists of a two-step process; first removing the water from the exhaust and then capturing the CO2. Drying the exhaust more than doubles a CO2-adsorbent’s capacity, enabling 100% of the carbon to be captured while simultaneously reducing the size and cost of the system.

ESG’s patented water removal and carbon capture system is designed for both large and small systems and can be retrofitted onto current operating power plants plus applied to mobile applications. ESG’s water removal system consists of an advanced ceramic membrane incorporated into a unique mechanical cooling system. The carbon capture system utilizes readily available low-cost solid adsorbers that are nontoxic and easy to handle making the entire system very versatile and energy efficient.

Testing was conducted at the company’s 4.4MW gas-powered power generation plant in Holyoke that serves the local electrical grid.

“This is a huge milestone for our development team and one we have been anticipating for a some time,” said Nick Scuderi, President of ESG Clean Energy, LLC. “It’s great to see the proof and the data that shows we are able to capture 100% of the C02 from an internal combustion engine.”

ESG Clean Energy plans on implementing this technology across all its planned facilities and has licensed the technology to a subsidiary of Camber Energy (NYSE (Amex): CEI) for all of Canada and multiple locations in the United States.

ESG Clean Energy | www.esgcleanenergy.com

Batteries Plus Secures $7 Million Grant from U.S. Dept. of Energy, Becoming the Nation's Front Door for Battery Recycling
Jul 12, 2024

Batteries Plus Secures $7 Million Grant from U.S. Dept. of Energy, Becoming the Nation's Front Door for Battery Recycling

Batteries Plus – the nation's leading specialty battery retailer for both consumer and business needs, and one of the largest retail battery recyclers in the U.S. – is proud to announce it has been selected for negotiation of a grant of over $7 million from the U.S. Department of Energy's Office of Manufacturing and Energy Supply Chains (DOE) to use its expertise to spearhead a comprehensive, nationwide initiative to dramatically increase battery recycling. 

Batteries Plus Exterior

Batteries Plus Exterior

With 700+ locally owned stores nationwide, Batteries Plus has been a leader in battery collection and recycling for more than 30 years. With a passion for environmental responsibility, Batteries Plus recycles 50 million pounds of batteries every year, more than one million pounds of which is rechargeable and lithium batteries. The DOE selected Batteries Plus for the substantial grant based on its extensive network of franchisees and specially trained battery professionals, who are uniquely positioned to manage the safe and environmentally responsible disposal of batteries.

"For 30 years, we have led the way in battery recycling to benefit our communities and preserve the natural world," said Scott Williams, CEO of Batteries Plus. "We hope this grant allows us to encourage Americans to properly recycle the dead batteries in their homes at their locally-owned Batteries Plus store."

The funding will allow Batteries Plus to:  

  • Incentivize Consumers to Recycle: Consumers will be able to recycle batteries at Batteries Plus stores at no cost during this program, thus reducing the financial barriers that often deter consumers from recycling their batteries for the next three years. This effort will be bolstered by educational campaigns that emphasize the environmental benefits of responsible battery disposal, with a particular focus on underserved communities to ensure equitable access.
  • Make Recycling Mainstream Nationwide: The grant will facilitate the development of a highly visible and accessible recycling workstation that will streamline the sorting and packaging of batteries and simplify the process for consumers, effectively making recycling mainstream across the U.S. This new technology is expected to reduce labor time by 3-4 minutes per pound of batteries processed, leading to a 30% reduction in costs. Batteries Plus will share this technology with other retailers to promote industry-wide efficiency.
  • Engage & Educate Americans About This National Priority: Batteries Plus will work with the DOE to launch a robust marketing campaign, leveraging partnerships with sports teams and community organizations to raise awareness about battery recycling. Educational content will be created for schools and the general public, and consumer surveys will provide insights to refine outreach efforts about this national priority. The awareness initiative targets all communities across the brand's nationwide footprint.

Before funding is issued, DOE/MESC and Batteries Plus will undergo a negotiation process. Watch for notifications from your local stores as this program rolls out across the nation in the upcoming months.

Batteries Plus | www.batteriesplus.com

 

Fracsun Unveils Advanced AI-Powered Soiling Loss Simulation Model - CLEO AI
Jul 12, 2024

Fracsun Unveils Advanced AI-Powered Soiling Loss Simulation Model - CLEO AI

Fracsun, a leading provider of solar soiling loss monitoring solutions, announced the launch of its groundbreaking AI-powered soiling loss modeling tool (CLEO AI). This advanced solution enables the entire solar development sector to fine-tune their production models and improve energy yield assumptions.

Developed by Fracsun's team of industry experts, the new model integrates precise local ground-based soiling loss measurements, detailed weather data, and machine learning algorithms to deliver accurate, localized simulated annual soiling losses. Unlike static, generalized approaches, this dynamic model accounts for evolving factors such as fine particulate matter (PM2.5 and PM10) concentrations, nitrate and sulfate levels, seasonal trends, and the impacts of wind and precipitation.

"Our goal is to empower solar production modelers with the tools they need to continuously improve performance modeling and maximize returns," said Catlin Mattheis, CEO of Fracsun. "By generating a Typical Meteorological Year (TMY) for daily soiling loss data, our model provides granular, site-specific simulations of soiling losses, enabling users to refine their production models and plan future maintenance schedules accordingly."

Fracsun's solution builds upon its extensive network of soiling monitoring stations, deployed across 27 countries and representing over 12 GW of installed solar capacity. Through machine learning, the model continuously learns from this growing dataset, incorporating new parameters like module tilt and weather forecasts to deliver increasingly precise results.

"Soiling is a dynamic, site-specific challenge that can significantly impact solar asset performance over time," Mattheis continued. "With the CLEO AI-powered model, our customers can now proactively manage this issue, optimizing maintenance plans and production forecasts to maximize their return on investment."

Fracsun has developed the industry's most accurate and reliable soiling loss monitoring station, along with the software needed to support it. This portal allows users to monitor solar assets for soiling loss and drive operational efficiency through actionable data and forecasting. Through years of experience collecting and analyzing soiling loss data, the team is now focused on utilizing this dataset to aid project development teams and banks in de-risking solar projects at the earliest stages of conception.

If you are interested in being part of Fracsun's Beta test group for their new CLEO AI Soiling Loss Model, you will receive the following benefits:

Early Access: Be among the first to explore and utilize our advanced simulation tool, allowing you to gain valuable insights into the impact of soiling loss on solar energy production in your specific location.

Run Simulations: During the early access period, you will be able to conduct up to 5 simulations to analyze the effects of soiling on your solar energy system.

Provide Feedback: Your participation in the beta test will enable you to share your valuable feedback and insights, which will directly contribute to the enhancement and improvement of the FracsunAI Soiling Loss Engine.

Fracsun | www.fracsun.com

Blue Ridge Power Appoints Industry Veterans David Sanders, Rick Ortiz
Jul 12, 2024

Blue Ridge Power Appoints Industry Veterans David Sanders, Rick Ortiz

North Carolina-based solar engineering, procurement, and construction (EPC) firm Blue Ridge Power is pleased to announce the appointments of David Sanders as President and Rick Ortiz as Chief Operating Officer (COO). Sanders and Ortiz join Blue Ridge Power to lead the company into its next phase of growth as an industry leading EPC.

SandersSanders joins Blue Ridge with more than 25 years of experience in real estate, construction, and renewable energy. Previously, he held leadership roles for public multi-nationals and privately held renewable energy companies including Matrix Renewables, Urban Grid Solar Projects, BayWa r.e., and Martifer Solar. Sanders brings strong credentials, keen strategic insights, and a deep understanding of the industry to his new role at Blue Ridge Power.

“Blue Ridge Power has an impressive track record of project execution and is well positioned for continued success,” said David Sanders, President of Blue Ridge Power. “I’m pleased to lead this remarkable organization during a time of unprecedented industry growth and demand for Blue Ridge Power’s services to build America’s clean energy future.”

rick ortizAs the new Chief Operations Officer, Rick Ortiz assumes responsibility for project execution, safety, and operations. Ortiz joins the organization with 20 years of experience in renewable energy, including extensive expertise in operations, business development, and construction. Previously, he held senior positions at Borea Construction, DEPCOM Power, and RES Americas.

“Blue Ridge Power’s commitment to safety, execution, and efficiency perfectly align with my vision for the company,” said Rick Ortiz, COO at Blue Ridge Power. “I’m honored to lead our exceptional team as we invest in communities across the country through the construction of clean energy projects.”

Blue Ridge Power | https://blueridgepower.com/

Total Corporate Funding for Solar Sector Comes in at $16.6 Billion in 1H 2024
Jul 11, 2024

Total Corporate Funding for Solar Sector Comes in at $16.6 Billion in 1H 2024

Mercom Capital Group, a global clean energy communications and consulting firm, released its report on funding and merger and acquisition (M&A) activity for the solar sector in the second quarter (Q2) and first half (1H) of 2024.  

Total corporate funding, including venture capital/private equity (VC) funding, public market, and debt financing, in 1H 2024 totaled $16.6 billion, 10% lower year-over-year (YoY) compared to the $18.5 billion raised in 1H 2023. The number of deals increased 9% YoY, with 87 deals in 1H 2024 compared to 80 during the same period last year. 

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"Financing activity in the solar sector remains restrained despite tailwinds from the Inflation Reduction Act and favorable global policies. High interest rates, an uncertain rate trajectory and timeline, increasing trade barriers, supply chain challenges, concerns about the U.S. presidential election's impact on the sector, and constantly evolving trade policies have created an unpredictable and uncertain climate. This has slowed down development, investments, and decision-making," said Raj Prabhu, CEO of Mercom Capital Group. 

In 1H 2024, VC funding activity decreased 29% YoY, with $2.7 billion raised in 29 deals compared to $3.8 billion from 33 deals in the first half of 2023. However, in Q2 2024, global VC funding activity rose 29% year over year (YoY), with $2.2 billion in 16 deals compared to $1.7 billion raised in 15 deals in Q2 2023. 

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Solar downstream companies led financing activity with 24 deals worth $2.5 billion in 1H 2024. 

The top VC deals in 1H 2024 were $650 million raised by Pine Gate Renewables, $520 million raised by Nexamp, $400 million raised by Doral Renewables, $325 million raised by MN8 Energy, and $200 million raised by ENVIRIA. 

A total of 96 VC investors participated in solar funding in 1H 2024. 

Solar public market financing in 1H 2024 totaled $1.7 billion in eight deals, 75% lower than $6.7 billion in 14 deals in 1H 2023.  

Solar debt financing activity in 1H 2024 reached $12.2 billion in 50 deals, a 53% increase compared to 1H 2023 when $8 billion was raised in 33 deals. The first half of 2024 was the highest 1H total recorded in a decade for debt financing. 

In 1H 2024, eight securitization deals totaled $2 billion, a 5% increase YoY compared to $1.9 billion raised in seven deals in 1H 2023.  

In the first half of 2024, there were 40 solar M&A transactions, compared to 48 in the first half of 2023. The largest deal was by Brookfield Asset Management, an asset management firm along with institutional partners including Brookfield Renewable and Singapore's Temasek Holdings, which agreed to acquire a 53.12% stake in Neoen, a solar, wind, and energy storage project developer, for $6.54 billion. 

In 1H 2024, 113 solar project acquisitions totaling 18.5 GW were transacted, compared to 116 project acquisitions totaling 25.5 GW in 1H 2023. 

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Project developers and independent power producers (IPPs) were the most active acquirers of solar projects in Q2 2024, accounting for 3.4 GW, followed by other companies (insurance providers, pension funds, energy trading companies, industrial conglomerates, and IT firms) with 1.6 GW. Utilities acquired a total of 1.3 GW, followed by 1.2 GW acquired by investment firms, and oil and gas companies acquired 250 MW. 

This report covers 258 companies and investors. It is 96 pages long and contains 75 charts, graphs, and tables.  

To learn more about the report, visit: https://tinyurl.com/MercomSolarQ22024  

Mercom Capital Group | http://www.mercomcapital.com

 

Upcoming Prize Explores the “Moo”tual Benefits of Cattle Agrivoltaics
Jul 11, 2024

Upcoming Prize Explores the “Moo”tual Benefits of Cattle Agrivoltaics

The American-Made Large Animal and Solar System Operations (LASSO) Prize offers up to $8.2 million in cash prizes to multi-stakeholder teams that develop impactful projects to deepen our understanding of the co-location of photovoltaics (PV) and cattle grazing operations (cattle agrivoltaics). 

The LASSO Prize will bring together solar developers, farmers, ranchers, and other stakeholders to form teams, build pilot sites, generate data on cattle agrivoltaics best practices, use cases, costs, applicable business models, associated energy and agricultural outcomes, host field days, and more!

Large Animal and Solar System Operations (LASSO) Prize: 

Agrivoltaics, the co-location of solar energy and agriculture, is a growing industry that shows promising benefits for both agricultural production and solar energy development. 

Cattle agrivoltaics has the potential to accelerate solar deployment while preserving agricultural operations, creating additional revenue pathways for farmers, ranchers and landowners, providing economic benefits for rural communities, and helping to decarbonize the electric grid.

cow solar

This innovative practice is relatively new in the U.S., and more pilot and demonstration projects are needed to de-risk designs and business models to prove that cattle agrivoltaics can yield economic and agricultural opportunities.

The LASSO Prize, funded by the U.S Department of Energy Solar Energy Technologies Office, will support pilot and demonstration projects designed to gather and share information about costs, business models, and energy and agricultural outcomes associated with cattle agrivoltaics. The prize also aims to support relationship-building between the solar energy and agricultural communities and generate best practices that will help expand the industry. 


Start Forming Your Team Now!

Follow the LASSO prize by clicking the "Follow" button at the top right of this HeroX page to receive updates and start forming your team today! You can access teaming resources on the Resource tab to help identify other stakeholders who are interested in your project.  

Expected submission open date: September 2024

SETO | https://www.energy.gov/eere/solar/solar-energy-technologies-office

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