Green Markets - January 16, 2025

Jan 16, 2025

Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.

Arafura Rare Earths has secured A$200 million ($124 million) from Australia's National Reconstruction Fund to support its Nolans project in the Northern Territory, aimed at establishing a domestic supply of critical minerals. The funding reflects the government's broader initiative to strengthen supply chains and manufacturing industries through its A$15 billion National Reconstruction Fund.

The Biden administration is finalizing federal loans for Rivian and Plug Power, including $1.7 billion for Plug Power to expand hydrogen production and funding for Rivian’s new EV manufacturing plant in Georgia.
The US is investing $635 million to expand public EV charging and hydrogen fueling infrastructure across 27 states, adding over 11,500 EV chargers and hydrogen stations. Funded by the Bipartisan Infrastructure Law, the initiative focuses on equitable access, with 67% of funds benefiting disadvantaged communities.

Green Flexibility, a German battery storage developer, has secured over €1 billion in funding, including €400 million in equity from Partners Group. With a 10 GW project pipeline, Green Flexibility aims to address challenges posed by intermittent renewables and the decline of conventional power.

Wyoming has approved the construction of TerraPower’s Natrium plant’s nonnuclear components, marking progress on this first-of-its-kind advanced reactor. Located near a retiring coal plant in Kemmerer, the 345-MWe liquid sodium-cooled reactor includes a molten-salt energy storage system, allowing for grid-resilient power boosts up to 500 MWe. TerraPower, supported by the U.S. Department of Energy and founder Bill Gates, aims to bring the world’s only coal-to-nuclear project to market, with full federal approval expected by December 2026.
Estonia’s Fermi Energia has applied to the Ministry of Economic Affairs to begin state spatial planning for a 600 MW nuclear power plant. The proposed facility will utilize two 300 MW GE Hitachi BWRX-300 small modular reactors. Fermi aims to submit a construction permit in 2029 and begin building in 2031.

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