In immediately’s Electrek Inexperienced Power Temporary (EGEB):
- Battery supplies and second-life battery recycling trailblazers simply secured thousands and thousands in VC funding.
- The Biden administration needs to interchange fossil gas subsidies with clear vitality incentives.
- Neighborhood photo voltaic market PowerMarket launches a redesigned web site.
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Power storage innovators
Boston-based Clean Energy Ventures, a $110 million enterprise capital agency that invests in early-stage local weather tech startups, is pouring cash into the vitality storage sector for the primary time. The corporate introduced immediately that it’ll put money into battery supplies (Volexion) and second-life battery recycling (Nth Cycle) startups.
Chicago-based Volexion, which is almost three years outdated, is a developer of graphene (pictured above) coating for lithium-ion batteries. It’s receiving $2.2 million in funding, led by Clear Power Ventures and Energy Foundry, a Chicago-based enterprise capital platform that invests in vitality innovators. Volexion will use the cash to scale its know-how and enhance battery efficiency for battery cell producers.
Volexion was based by Professor Mark Hersam, director of the Northwestern College Supplies Analysis Middle and a MacArthur Fellow, who found that coating battery cathodes with graphene can enhance battery efficiency. Volexion’s graphene coating acts as a protecting layer round battery cathode supplies to suppress materials and electrolyte degradation. Battery cells with Volexion’s coating can see a 30% enhance in vitality density, 40% enhance in energy density, and run twice so long as non-coated lithium-ion batteries.
Beverly, Massachusetts-based Nth Cycle is a developer of a recycling know-how that extracts crucial metals from batteries for a second life. It’s receiving $3.2 million in seed funding led by Clear Power Ventures. Nth Cycle will use the cash to execute their know-how highway map and deploy a number of pilot initiatives with recyclers and mine operators in early 2022.
Nth Cycle makes use of an environmentally pleasant course of known as electro-extraction to recuperate cobalt and different minerals from discarded batteries, mining ores, and waste utilizing solely electrical energy and carbon filters. Electro-extraction is a cleaner, lower-cost different to the standard pyrometallurgy and hydrometallurgy processes utilized by battery recyclers and mining firms to recuperate cobalt, nickel, and manganese for brand spanking new battery manufacturing. This know-how expands the round provide chain of crucial minerals for the clear vitality transition. Nth Cycle’s know-how was developed at Harvard College and Yale College.
US clear vitality incentives
US Treasury Secretary Janet Yellen yesterday launched particulars of a tax hike proposal that might substitute fossil gas subsidies with clear vitality incentives. It’s a part of President Joe Biden’s $2.3 trillion infrastructure plan. It consists of incentives to encourage individuals to modify to electrical autos and energy-efficient electrical home equipment.
One of many high fossil gas breaks is known as intangible drilling prices, which permits producers to deduct most prices from drilling new wells. The Joint Committee on Taxation, a nonpartisan congressional panel, has estimated that ditching it may generate $13 billion over 10 years.
The Biden tax plan would advance clear electrical energy manufacturing by offering a 10-year extension of the manufacturing tax credit score and funding tax credit score for clear vitality technology, akin to wind and solar energy, and energy storage akin to superior batteries. It additionally creates a tax incentive for long-distance transmission traces to ease motion of electrical energy from clear vitality mills.
The plan would restore a tax on polluters to pay for Environmental Safety Company prices related to Superfund poisonous waste websites, addressing hurt attributable to fossil gas manufacturing.
And regardless that the fossil gas trade is protesting as anticipated, Bloomberg stories, as per the Treasury, that eliminating its subsidies would influence solely earnings:
Analysis suggests little influence on gasoline or vitality costs for US customers and little influence on our vitality safety.
US group photo voltaic web site PowerMarket has redesigned their web site. Customers will see a listing of companions which might be tailor-made to their native area on its homepage. Residents in New York, New Jersey, Maine, Massachusetts, and Rhode Island can at the moment join group photo voltaic by way of PowerMarket.
The location is clear – it tells you what number of “spots” are remaining on every group photo voltaic mission and could be very person pleasant. Click on on the hyperlink above to test it out and probably enroll.
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