5 June 2023
Today's Top Nordic Green News:
- EU trade talks in Luleå leads to transatlantic tech agreement
- Wind power investments are now pouring into Finland
- Polestar to build R&D centre in Gothenburg
EU trade talks in Luleå leads to transatlantic tech agreement
The fourth meeting between the EU and the US within the transatlantic political body Trade and Technology Council (TTC) wrapped up in Luleå last week, with US and EU leaders in attendance. The agreement covers new frontiers including AI, 6G, online platforms and quantum computing. The TTC also drew focus on creating a “sustainable business environment for an integrated transatlantic marketplace.” Questions remain over whether the TTC will deliver concrete results on US concerns over the EU’s Carbon Border Adjustment Mechanism, which allows the EU to impose a fee on products that come from countries without comparable carbon pricing found in European countries. tn, FierceWireless, Msn, SverigesRadio, Press Release
Fingrid's CEO predicts wind and solar power as keys to Finland's economic success
Fingrid's CEO, Jukka Ruusunen, believes that wind and solar power have played a crucial role in making Finland a model country for cheap and clean electricity. He highlights the rapid development of wind turbine technology as a game-changer, leading to a new golden age for the Finnish economy. With Finland having one of the cheapest electricity prices in Europe and a reliable supply, investors are flocking to the country, and large companies are prioritising social responsibility and green energy. Ruusunen predicts that wind power will surpass nuclear power in Finland by 2026-2027 and emphasises the need for smooth and transparent processes in obtaining permits for wind power parks and infrastructure. Overall, he sees wind and solar power as essential for industrial success, future jobs and securing Finland's well-being.
Polestar to build R&D centre in Gothenburg
Polestar announced plans to build a new research and development centre in Frihamnen in Gothenburg. Polestar hopes to create 3,000 new job opportunities with the new venture and the manufacturer is working with municipal authorities to build accommodation to house employees attracted to work with major companies in the vicinity, such as Volvo Cars and Northvolt. “You could hardly wish for a finer jubilee gift for our industrial city. Polestar is a crucial company for Sweden, which will bring with it loads of new jobs right into the centre of Gothenburg,” Johan Attenius (S), Municipal Councillor of Gothenburg said, referring to the city’s 400-year anniversary. Polestar CEO Thomas Ingenlath commented that he “looks forward to developing a modern and attractive workplace right in the city centre.”
Geely launches EV brand Zeekr in Sweden
Polestar's owner, Geely is also bringing Zeekr, a Chinese-owned EV brand to Sweden. Founded in 2021, much of the development of the cars takes place in Gothenburg. Zeekr aims to position itself as an affordable option with a high technological level, emphasising performance, driving pleasure, comfort and range. Spiros Fotinos, the European manager at Zeekr, highlights the importance of Gothenburg as the home city for research, development, and design, while Amsterdam will serve as the business hub in Europe. Moreover, Zeekr considers the Chinese market a significant opportunity for growth and views the transition to electrification as a chance to gain an advantage over traditional manufacturers.
Swedish Government assigns investigator to review energy authorities' tasks and responsibilities
The Swedish Government has announced a refocusing of its energy policy to meet the country's need for new fossil-free energy. To implement this new approach, a letter investigator has been assigned to assist the Ministry of Climate and Business in reviewing the tasks and responsibilities of authorities in the energy field. The government proposes changing the energy policy target from 100% renewable electricity production to 100% fossil-free electricity production by 2040. The review includes the Swedish Grid Agency, the Swedish Energy Agency, the Energy Markets Inspectorate and the Swedish Electricity Safety Agency. The assignment is in line with the Tidö Agreement, a political agreement between several parties. The final report is expected to be delivered by March 29, 2024.
ABB secures system order for Havfram Wind's offshore wind turbine installation vessels
ABB has been awarded a significant system order by Yantai CIMC Raffles Offshore Ltd. to provide an integrated solution for Havfram Wind's two new NG20000X-HF Wind Turbine Installation Vessels (WTIVs). These vessels, equipped with advanced battery hybrid powertrains, will be highly energy efficient and capable of installing large offshore wind turbines and monopiles in deep waters. ABB's comprehensive offering includes electric Azipod® propulsion units, Onboard DC Grid™ power distribution system, energy storage installation, advanced vessel control systems and automation technology. The order underscores ABB's commitment to delivering future-proof solutions for the growing offshore wind industry.
Swedish collaboration develops climate-neutral lime production for fossil-free steel
Swedish companies SMA Mineral and SaltX Technology have collaborated to develop Zeql, a groundbreaking factory concept for the production of climate-neutral burnt lime. Lime production currently contributes more to global CO2 emissions than the steel industry. Zeql's innovative technology replaces fossil fuels with fossil-free electricity and captures carbon dioxide emissions during the manufacturing process. This eliminates the need for separate carbon capture systems. The captured carbon dioxide can be used as a clean raw material for the production of chemicals and materials. The new factory concept also promotes resource efficiency by utilising existing broken stone and waste in lime production. The goal is to lead the lime industry into a green transition and expand the electrification technology to other industries.
SSAB and Fortum collaborate on hydrogen-reduced sponge iron manufacturing
SSAB and Fortum have announced a joint FEED (Front-End Engineering Design) study to explore the possibility of producing hydrogen-reduced sponge iron on an industrial scale in Brahestad. The study will also assess the feasibility of establishing a hydrogen production facility. This initiative is part of the ongoing research project "FFS – Towards Fossil-free Steel" and aligns with SSAB's strategic goal of achieving a largely carbon dioxide-free Nordic production system by 2030. SSAB has already made significant progress in producing fossil-free steel and aims to further reduce emissions by utilising a mix of fossil-free sponge iron and recycled scrap. The FEED study is expected to be completed by the first quarter of 2024.
SEB invests €7.5 million into ESFORIN to expand automated flexibility trading
ESFORIN, a provider of automated flexibility algo-trading in short-term power markets in Europe, has raised €7.5 million in Series B funding. The funding round was led by SEB Greentech Venture Capital, with participation from existing investors. The capital will be used to accelerate ESFORIN's expansion into new markets. ESFORIN operates in several European countries and manages over 1.5 GW of flexibility from various assets. The company's advanced algorithms help customers optimise their assets on intraday power markets, reducing carbon emissions and enabling the integration of more renewables into the grid.
Blue Ocean Technology leads EU-funded project for sustainable treatment of fish sludge and value creation
Norwegian company Blue Ocean Technology is set to be the central technology supplier in a significant EU-funded project called Terraforming LIFE. The project aims to establish a healthy circular economy for the treatment of fish sludge and create value from it. Blue Ocean Technology plans to sell several pyrolysis plants connected to the sludge handling plant, allowing for the conversion of fish sludge, organic waste, and agriculture waste into valuable energy, fertiliser and high-quality biochar. The project, based mainly in Iceland, received a grant of nearly EUR 6.3 million from the EU's environment and climate program. Blue Ocean Technology envisions a total investment of around NOK 300 million and expects to sell three to four pyrolysis plants during the project period. The pyrolysis technology enables efficient carbon capture and contributes to reducing the carbon footprint in agriculture and aquaculture. The project, which commenced on June 1, 2023, will run for four years.
What we’re reading
- UAE defends Big Oil’s role at UN climate summit it will host (AP News)
- Nations split on how to cut plastic pollution after week of UN talks (Financial Times)
- Southern China swelters, power grids struggle under 'relentless' heatwaves (Reuters)
- Vietnam's power blackouts hit multinationals' manufacturing hubs (Reuters)
- Bangladesh to see more power cuts as demand soars - minister (Reuters)
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.
Powered by Notified