7 June 2022
Horizon Energy enters into a collaboration on green ammonia
Horizont Energi has entered into a MoU with France’s Lhyfe, for joint development of green ammonia factories in Europe via the use of green hydrogen. Through this agreement, Lhyfe and Horisont Energi want to collaborate on joint development of solutions for delivering renewable green hydrogen to ammonia-producing plants in Norway and in Europe. The first development project, consisting of production facilities for renewable hydrogen and green ammonia, will be located in the northern part of Europe, and the two companies will also jointly search for strategic positions in renewable energy in Europe to identify new and existing project opportunities for green ammonia plants on an industrial scale.
Horisont Energi has already entered into a cooperation agreement with Equinor and Vår Energi for the development of Barents Blue, Europe’s first large-scale production facility for blue ammonia located in Finnmark in Northern Norway. In response to the increasing demand for ammonia in Europe, the company has also signed a memorandum of understanding with the port of Rotterdam to set up a corridor for transport of blue ammonia from Norway to Rotterdam. Horisont Energi intends to ship blue ammonia, produced in Northern Norway, from natural gas with carbon capture and storage, to the port of Rotterdam, where it will be received for further distribution to meet expected demand in North-western Europe. Created in Nantes in 2017, Lhyfe produces and supplies renewable green hydrogen for mobility and industry.
Volvo Cars is first car maker to join SteelZero initiative in support of fossil-free steel ambitions
Volvo Cars has become the first car maker to sign up to the SteelZero initiative, which aims to increase demand for fossil-free steel and accelerate a transition to carbon neutrality in the global steel industry. In signing up to SteelZero, Volvo Cars commits itself to stringent CO2-based steel sourcing requirements by 2030. Amongst these, all the steel it sources should be net-zero steel by 2050, which is in line with the company’s ambition to be climate neutral by 2040.
Spotify veteran’s company providing sustainability reporting solutions raises SEK 33 million
Datia was founded in 2019 by Juan Manuel Serruya, a former chief engineer at Spotify. The ambition was then to develop a platform that helps investors and companies to measure, analyze and report their sustainability emissions in accordance with the existing regulations. Datia says that they are raising SEK 33 million in a round including the venture capital company Nauta Capital, the incubator Sting and Söderberg & Partners. The money will be used for new hires, product development and expansion in the rest of Europe.
"Our aim is to support investors in their sustainability work, traditional ESG ratings are no longer sufficient. An increasing challenge is to integrate transparent and quantitative data in the investment process, follow rapidly changing regulations and consider customers' requirements for sustainability.
Swedish government bans extraction of hydrocarbons
Sweden’s Government has today decided to submit a bill to the Riksdag with proposals for amendments to the Environmental Code and the Minerals Act that mean a ban on the extraction of hard coal, lignite, crude oil, shale oil and natural gas.
Record high Swedish electricity prices during May 2022
Swedish electricity prices during May were the third highest month on record, despite the fact that traditionally the electricity price are lower in summer months. “This is really an exceptional situation”, says the market analyst Christian Holtz and points to the war in Ukraine as the main reason for the large increase. All gas prices have increased because of the war and the winter 2022 may prove very expensive, he concludes.
What we’re reading
- Octopus and Ilke launch clean energy scheme with no bills for householders (Financial Times)
- Car tyres produce vastly more particle pollution than exhausts, tests show (The Guardian)
- G7 Ministers Declare 2035 Clean Grid Target, Postpone Decisions on Climate Finance (The Energy Mix)
- US Treasury takes aim at World Bank over climate change inaction (Financial Times)
- Biden targets solar, green hydrogen and fuel cells in new manufacturing push (RenewEconomy)
- US, Germany propose India-G7 partnership to fund decarbonisation (Economic Times)
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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