29 April 2022
Nasdaq plans to grow CO2 removal exchange
Exchange operator Nasdaq wants to create a global market for CO2 removal, driving investments towards facilities that capture and store carbon dioxide permanently, via a marketplace that is under construction. "The ambition is for us to be able to scale up the market for carbon dioxide removal and support the allocation of capital to the facilities around the world," said Fredrik Ekström, CEO of Nasdaq Stockholm. On the marketplace, companies trade in certificates, so-called "Corcs", CO2 Removal Certificates, which correspond to one tonne of carbon dioxide removed from the atmosphere. Both the marketplace and the certificates are developed by Finnish Puro Earth, a start-up company in which Nasdaq bought a majority stake in 2021.
Polarium starts production in a new factory in South Africa
Polarium is now opening its third factory in Cape Town, South Africa. The production facility has been established in close collaboration with American Tower Corporation (ATC) in Africa and has an annual production potential of more than 300,000 batteries. In 2017, Polarium and ATC in Africa entered into a strategic partnership, and in 2021, a multi-million contract was entered into in which ATC secured thousands of lithium-ion-powered backup solutions for the African market in the coming years. At full production, the factory will have the capacity to produce over 300,000 batteries per year, corresponding to 4 GWh.
Metacon: Plans to exceed SEK500 million in turnover in 2025
The Board of Directors of Metacon AB announced new financial targets for the medium term. As a headline target, the company’s turnover for 2025 shall exceed SEK 500 million and the company will be cash flow positive by the end of 2025. The Board believes that the need for hydrogen will grow strongly and that the transition to green hydrogen from fossil fuels will take place earlier than previously predicted, driven by the need to switch Russian oil and natural gas to alternative energy carriers. Metacon says that it seen an increasing demand for hydrogen and hydrogen technology in several segments, in particular, in the automotive sector for the propulsion of different types of vehicles such as trucks, buses, work machines and passenger cars and also in aviation and shipping. And in industry, where the need for green hydrogen for the production of,among other things, green steel and fertilisers is huge, as well as in the food sector and the petrochemical area where Metacon sees great development potential linked to our core competence in catalytic process chemistry.
Swedish plastics will cut emissions from Norwegian cement giant
Svensk Plaståtervinning (Swedish Plastics Recycling) is gearing up. In addition to a new billion-dollar site Site Zero, the company is starting a collaboration with Heidelberg Cement, which will replace coal with plastic in its Norwegian cement production. Svensk Plaståtervinning wants 55% of all plastic packaging in Sweden to be recycled by 2025. At present, recycling is less than 20%. As part of meeting the goal, the company has signed a new cooperation agreement with the Norwegian company, Renor and its parent, Norcem, which is part of the Heidelberg Cement Group, for plastic to replace coal in its energy production. And, in addition, CO2 generated at Norcem's plant in Norway is captured using CCS technology, which is stored under the seabed in the North Sea.
16 Nordic cities participate in EU's climate-neutral cities program
Gävle, Gothenburg, Helsingborg, Lund, Malmö, Stockholm and Umeå are among the 100 cities in the EU that will participate in the so-called Cities Mission, the EU's mission for 100 climate-neutral and smart cities by 2030. In addition, 6 cities from Finland and 3 Danish cities have been accepted into the program.
The Urban Mission will receive €360 million in funding from Horizon Europe for the period 2022-2023 to pave the way for climate neutrality through innovation by 2030. Research and innovation measures will focus on clean mobility, energy efficiency and green urban planning and provide opportunities to build joint initiatives and expand cooperation with other EU programs.
The Commission will call on the 100 selected cities to draw up climate city contracts, which will include a comprehensive plan for climate neutrality in all sectors such as climate change. energy, buildings, waste management and transport, together with associated investment plans. This process will involve residents, research organisations and the private sector. The clear and visible commitments made by cities in climate change contracts will enable them to work with the EU, national and regional authorities - and in particular with their own citizens - to achieve this ambitious goal.
NKT joins Science Based Targets
NKT, a major producer of energy cables, has officially joined the Science Based Target initiative with the ambition of becoming a net zero-emitting company. Already, NKT is committed to reducing its own CO2 emissions (GHG) by an average of 5% annually in accordance with the Paris Climate Agreement.
What we’re reading
- President Biden’s Climate Ambitions Are All But Dead (Bloomberg)
- The heat in Delhi is unbearable. This is what the climate crisis feels like (Climate Home News)
About Nordic Green News
The Nordic countries are some of the most dynamic and successful economies in the world. They are also leaders in sustainability, from renewable energy, biofuels, carbon capture and storage and the hydrogen economy, circular economy business models and battery development, the Nordics are pioneers in policy design, technology development and consumer uptake. Mundus Nordic Green News is covering this transition for the international community. Every day we curate the stories of most relevance to international businesspeople and policy experts from the flow of news. Mundus Nordic Green Indices summarise the meta-data from our daily coverage to enable easy tracking of trends. We supplement these with our own opinion pieces and commentary.
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