SMRs to decarbonise Steel, UK to support SAF, Canada funds critical minerals, and more
Batteries for shipping; Singapore to decarbonise manufacturing; Funding forest restoration in Brazil and Africa; Orlen-Equinor partner on CCS
Outokumpu has finalized study on emerging nuclear technology, seeks external investors to complete the project
(February 13)
Finland-based steelmaker Outokumpu has completed a feasibility study on building a small modular reactor (SMR) near its largest stainless steel plant in Tornio. The study confirmed the project's feasibility, with no significant obstacles, and highlighted the advantages of the Tornio region, such as the availability of sea cooling water. Outokumpu is seeking external investors to further develop the project, as the company has decided not to diversify into energy production. The initiative aligns with Outokumpu's decarbonization strategy, emphasizing the importance of stable electricity supply for industrial electrification and carbon capture and utilization (CCUS) projects.
ICAO agreement on new aircraft standards for fuel efficiency and noise levels
(March 03)
The European Commission welcomed the landmark decision reached at the International Civil Aviation Organization’s (ICAO) Committee for Aviation Environmental Protection. The agreement establishes new binding standards for aircraft fuel efficiency, effective from December 31, 2031, and noise levels for new aircraft starting January 1, 2029. Aircraft seeking certification after these dates must meet global CO2 standards, achieving a minimum 10% reduction in fuel consumption compared to current models. This agreement signifies a substantial commitment to reaching net-zero CO2 emissions by 2050 and improving air quality around airports.
U.S. petroleum inventories forecast decline due to refinery closures
(March 03)
U.S.-based Energy Information Administration (EIA) has projected that in 2026, inventories of the three largest transportation fuels—motor gasoline, distillate fuel oil, and jet fuel—will fall to their lowest levels since 2000. Two pending refinery closures are expected to reduce U.S. production of refined petroleum products while consumption is forecasted to grow. The total inventories for these fuels are expected to end next year at 375 million barrels, decreasing significantly from historical averages. Additionally, U.S. consumption of jet fuel is anticipated to rise to an all-time high, exacerbating supply issues in the market.
U.S. Energy Information Administration
PyroGenesis Meets Technical Requirements for Titanium Powder for Boeing
(March 03)
Canada-based PyroGenesis has successfully met the technical requirements for its Ti64 coarse metal powder produced by its NexGenâ„¢ plasma atomization system for Boeing. Following completion of the multi-year product qualification process, it is now in the queue for approval as a supplier for Boeing. This achievement showcases the advancement of PyroGenesis' sustainable solutions in supporting heavy industry with energy transition and emission reduction.
UK government supports sustainable aviation fuel industry
(March 03)
The UK government has announced a consultation to support the sustainable aviation fuel (SAF) industry, aiming to reduce emissions and establish Britain as a clean energy superpower. The proposals include a revenue certainty mechanism to provide income stability for SAF producers, ensuring lower costs for airlines and consumers. It is estimated that this initiative could support up to 15,000 jobs and contribute £5 billion to the economy by 2050. Alongside the SAF Mandate introduced in January 2025, which requires a growing percentage of aviation fuel to originate from sustainable sources, these efforts are aligned with the UK's net zero goals.
Investing to Make Canada a Global Critical Minerals Superpower - Canada.ca
(March 03)
Canada has announced a $50 million investment in 32 projects to develop its critical mineral value chains. This initiative aims to create jobs, support economic opportunities, and enhance energy security by reducing reliance on authoritarian governments. The funding will support infrastructure development, innovation, and data collection, with a focus on Indigenous community engagement. Notable projects include Denison Mines' work on uranium projects in Saskatchewan and E3 Lithium's Clearwater Project in Alberta. The initiative is part of Canada's strategy to become a leader in sustainable and responsibly sourced critical minerals.
ORLEN and Equinor to collaborate on CCS technology
(March 03)
Poland-based ORLEN has partnered with Norway's Equinor to explore Carbon Capture & Storage (CCS) technology opportunities. The collaboration focuses on the transport and storage of COâ‚‚ in Poland, aiming to reduce emissions and support industrial decarbonization. ORLEN and Equinor will identify potential COâ‚‚ storage sites, including land-based and Baltic Sea locations, and assess project feasibility. This initiative aligns with ORLEN's strategy to achieve a 4 million tonnes annual carbon capture capacity by 2035, contributing to its net-zero goals and offering services to other firms. The partnership reflects compliance with the EU's Net-Zero Industry Act, which mandates a 50 million tonnes annual COâ‚‚ injection capacity by 2030.
Echandia secures SEK 220 million in new financing round – scaling up operations to meet rapidly increasing demand - Echandia
(March 03)
Sweden-based Echandia has secured SEK 220 million in a new funding round to expand its maritime battery system operations globally. The funding was led by Alantra’s energy transition fund Klima, along with Industrifonden, SEB Greentech VC, and EEI. The capital will be used to enhance production capabilities in Sweden and the US, including a new facility in Washington State. Echandia aims to meet the growing demand for its battery solutions, which are crucial for reducing CO₂ emissions in the shipping industry.
CIF Endorses $143 Million for Nature in Brazil, Kenya, and Zambezi River Basin
(February 28)
The Climate Investment Funds (CIF) endorsed $143 million in funding for Brazil, Kenya, and the Zambezi River Basin Region, including Malawi, Mozambique, Namibia, Tanzania, and Zambia. This funding is part of CIF's Nature, People, and Climate program, which aims to pioneer nature-based solutions for sustainable development. Brazil's plan includes $47 million in CIF funding to restore 54,000 hectares of forest, create 21,000 jobs, and address deforestation. Kenya's plan, with $35.66 million in CIF funding, focuses on ecotourism and supporting Indigenous communities. The Zambezi River Basin plan, with $60.35 million, aims to mobilize co-financing and promote carbon markets.
DBS and SMF Partner to Decarbonise Singapore's Manufacturing Sector
(February 27)
Singapore's DBS and the Singapore Manufacturing Federation (SMF) have signed a Memorandum of Understanding to promote sustainable practices in the manufacturing sector. This partnership aims to support 500 small and mid-sized manufacturers over two years, providing expertise, resources, and financial solutions to reduce emissions and enhance competitiveness. The collaboration includes training, tailored sustainability programs, and competitive sustainable financing options. This initiative supports Singapore's national decarbonisation agenda and positions its manufacturing sector as a leader in sustainable practices.
These are just 10 out of the 200 stories we covered in the Telborg briefing today.
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