Mundus Nordic Green News – 18 September, 2020

SEB forms new green VC arm

SEB is establishing SEB Greentech as a new unit within the bank, to invest venture capital. SEB says that there is a shortage of venture capital in the sector, and with investments in new, green technology often taking a longer time to develop and mature than traditional venture-capital investments it requires a separate unit support Nordic companies within this sector. SEB Greentech will be initially allocated SEK 300m in investment capital, with an ambition for an increase this to SEK 1b over time. It will invest in companies that develop solutions for renewable energy, energy storage, water and agricultural technology, circular business models and waste management.

 

German Embassy to lead 19 Ambassador-strong group on tour of Östragötland

With Germany currently holding the rotating presidency of the Council of the European Union, next Tuesday, the Governor of Östergötland, Carl Fredrik Graf will host a visit by ambassadors from 19 EU member states. This follows closely on the heels of the Germany Embassies hydrogen event, earlier this week.

 

The focus for September 22 is on fossil freedom and the circular economy - two of Östergötland's areas of strength. The day begins at Händelö Eco Industrial Park in Norrköping, and in the afternoon the group will visit the innovative green industries at Vreta Kluster outside Linköping

 

Norwegian to reduce CO2 emissions by 45% by 2030

Norwegian has launched a new climate and environmental strategy. The strategy, which begins immediately, contains a number of industry-leading goals. Important commitments are to reduce CO2 emissions by 45% per passenger kilometre (RPK by 2030, c.f. 2010), remove all non-recyclable plastic and recycle all disposable plastic. The airline thus undertakes to use between 16 and 28% sustainable fuel by 2030, depending on the proportion of the fleet that is renewed, with a result that up to 500 million litres of sustainable fuel will be needed by 2030. In order to achieve this, it is essential that there is a regulatory framework that actively rewards CO2 efficiency and stimulates both increased production and use of sustainable aviation fuels.

 

Scania and Axfood to cooperate on electric vehicles

Swedish retailer, Axfood will collaborate with the truck giant, Scania to test electric vehicles for food deliveries, as part of Axfood's goal to completely switch to fossil-free transport. With Axfood building a SEK 2.5 billion logistics hub north of Stockholm, it is starting a collaboration with Scania to plan how efficient routes, determine where the charging points will be and what type of vehicle is best suited for the route. According to Scania's CEO, Henrik Henriksson, “There are lots of technical issues here. What is required of the electricity grid if you have a fleet of 30 electric trucks? How to weigh the life of the batteries against the requirement of daily range? How do we optimize the truck for Axfood to meet delivery peaks during Easter and before midsummer?” But the issues can be far broader, with for instance a battery vehicle being much heavy than a diesel, requiring a more complicated license for drivers.

 

LUT, Wärtsilä and St1: Power-to-X solutions must be at the heart of Finland's climate solutions

With Finland aiming for carbon neutrality by 2035, LUT University, technology company Wärtsilä and energy company, St1 have prepared a report that shows how solutions based on Power-to-X technologies (P2X) can support the achievement of this goal and the creation of a completely new industry. P2X processes can be used to produce synthetic gasoline, kerosene and diesel. The raw materials in the process are bio-based CO2 from pulp mills or recovered from the production of cement, and hydrogen produced from water by an electrolysis process using renewable electricity.

 

The export report estimates that new industrial investment would be around € 75-90 billion, with half going to upgrade pulp mills for synthesis plants and the other half to wind power construction. But achieving this requires the removal of structural barriers to investment.

 

Maersk Drilling wants greener bore holes

As part of its sustainability strategy, Maersk Drilling will reduce the intensity of CO2 emissions from drilling by 50% by 2030. Half of the target is expected to be achieved through efficiency improvements with known technical solutions, while the rest requires new ones.

 

 

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