Biogenic coal for producing silicon, Ammonia cracking for shipping

EU Council grants greater investment flexibility to EIB; Standard Chartered issues Social Bond; SMRs for steel production;

Top 5 from Telborg.com today:

Pherousa receives initial Approval in Principle for Ammonia Cracking Technology in Maritime Industry

(March 11)

Pherousa, a Norwegian technology company, has received Approval in Principle from the American Bureau of Shipping (ABS) and DNV for its Ammonia Cracking technology aimed at creating emission-free maritime transportation. This major milestone allows for continued design and construction of an emission-free series of 64,000 dwt Bulk Carriers earmarked for the copper industry. The ships will operate without any carbon footprint ahead of the new IMO regulations coming into force in 2030.

Pherousa

WACKER replaces fossil coal with biogenic carbon in its silicon production

(March 10)

Wacker Chemie AG, based in Norway, has committed to replacing coal with biogenic carbon in its silicon production at the Holla site. The company signed a long-term supply contract with Aymium, a Minnesota-based producer, to supply biogenic carbon, which will significantly reduce CO2 emissions from the production process. This initiative is a crucial step towards achieving climate-neutral silicon production and is part of WACKER's goal to lower absolute greenhouse gas emissions by 50% by 2030. Additionally, WACKER aims for net zero emissions by 2045, with the conversion to green electricity already implemented since 2022.

Aymium

Newcleo and Danieli explore nuclear-powered green steel production

(March 10)

Italy-based Danieli & C. Officine Meccaniche S.p.A and new cleo SA have signed a Memorandum of Understanding to explore integrating new cleo's Lead-cooled Fast Reactors (LFR) with Danieli's steelmaking technology. This collaboration aims to decarbonize steel production by using nuclear energy to provide electricity and high-temperature heat. The initiative aligns with the EU's Clean Industrial Deal, which supports energy-intensive industries in reducing energy costs and creating low-carbon markets. The agreement could lead to energy supply solutions across the iron and steel value chain, including the production of Green Hydrogen for Danieli's Energiron Direct Reduction Technology.

newcleo.com

Standard Chartered issues first Social Bond to support sustainable development

(March 10)

London-based Standard Chartered has issued its first-ever Social Bond worth EUR1 billion to support sustainable development across low-income countries in Asia, Africa, and the Middle East. The issuance aims to facilitate lending to SMEs, ensuring access to finance, creating jobs, and empowering women-owned businesses. Proceeds will finance access to essential services in healthcare and education and invest in affordable basic infrastructure, emphasizing inclusive growth. The bond is a key step in addressing the USD4.2 trillion annual investment needed to facilitate sustainable development in these emerging markets.

Standard Chartered

EIB granted greater investment flexibility by EU Council

(March 11)

The Council of the European Union approved a decision providing the European Investment Bank (EIB) with enhanced flexibility in managing its investment capacity. This modification allows the EIB to increase its gearing ratio from 250% to 290%, enabling better support for Europe’s priorities, including climate action. This foundational change, adopted at the request of the EIB, follows international recommendations to empower multilateral development banks to manage their capital more effectively. The decision will come into effect upon its publication in the Official Journal of the EU.

Council of the EU

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