Green Markets - November 6, 2024
News in environmental markets.
Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.
Agritech/Agriculture
The USDA has allocated $1.5 billion to fund 92 conservation projects through the Regional Conservation Partnership Program (RCPP), with partners contributing an additional $968 million. This investment, supported by the Inflation Reduction Act, enables farmers, ranchers, and forest landowners to adopt climate-smart practices, addressing challenges like methane reduction, drought adaptation, and wildlife habitat conservation.
Related Stock List(s): Agritech & Agriculture Stocks
Biofuels/Chemicals
TA’ZIZ has secured over $2 billion in engineering, procurement, and construction (EPC) contracts to develop essential infrastructure for its chemicals and transition fuels ecosystem in Al Ruwais Industrial City, Abu Dhabi. The project, set to begin production in 2027, will produce 4.7 million tons of chemicals annually by 2028, including low-carbon ammonia, methanol, and more.
Related Stock List(s): Biofuels & Chemicals Stocks
Carbon Capture
BASF and Exterra Carbon Solutions have partnered to develop large-scale carbon capture and storage projects in Quebec, targeting hard-to-abate industries like cement, steel, gas-to-power, and waste-to-energy. The collaboration combines BASF’s gas treatment technology with Exterra’s ROC (Reactive Oxide to Carbonate) system, offering a surface-level CO2 sequestration method that mineralizes captured carbon for permanent storage.
Related Stock List(s): Carbon Capture Stocks
Hydrogen
Avina Clean Hydrogen has begun construction on a green hydrogen facility in Vernon, California. Set to produce up to 4 metric tons of green hydrogen per day, the facility will help decarbonize heavy-duty transport. The facility is scheduled to start operations by July 2025.
Related Stock List(s): Hydrogen Stocks
Investment Funds
WovenEarth Ventures is raising a $300 million second fund, nearly double the size of its first climate-focused fund. According to a recent filing, the fund has not yet closed on any investments for Fund II.