Latest news with #Karpowership
Arab News
6 days ago
- Business
- Arab News
Power outage hits Gabonese capital
SEEG said it had managed to restore power to around half of its customers in the capitalFor several months last year, electricity supply was disrupted due to significant infrastructure problemsLIBERVILLE: Gabon's capital Libreville was without electricity for several hours Wednesday following a 'major technical incident,' the national energy supplier early morning power outage 'resulted in the loss of all production facilities in the Libreville Interconnected Network (RIC),' the Gabonese Water and Energy Company (SEEG) said without giving further said it had managed to restore power to around half of its customers in the capital 'by early morning,' adding its teams were working to find and analyze the fault, which AFP reporters said also cut Internet and mobile phone Monday, the Gabonese presidency had announced the end of an interim administration of SEEG started in August on the back of a slew of supply of Wednesday, 'management of SEEG will be fully transferred' and it will return to its majority shareholder, the Gabonese Strategic Investment Fund (FGIS), the company several months last year, electricity supply was disrupted due to significant infrastructure problems.A rotating load shedding system was established leading to supply cuts in entire neighborhoods for hours at a time, to enable power supply for other parts of the city.A protocol signed between the Gabonese government and Turkish firm Karpowership for supply of 70 megawatts via two floating power plants to cover greater Libreville saw the situation improve in recent the network is a top priority for Gabon's leader Brice Oligui Nguema, a general who overthrew the Bongo dynasty and won 94.85 percent of the vote in April's election, 19 months on from his August 2023 this month he vowed to provide 'universal access' to drinking water and electricity.
Cision Canada
07-05-2025
- Business
- Cision Canada
Kinetics Accelerates Clean Energy Innovation with Strategic Investments in North America
ISTANBUL, May 7, 2025 /CNW/ -- Kinetics, a new energy company launched by Karpowership specializing in floating LNG assets and renewable energy, has announced two strategic investments to drive innovation and decarbonization in the energy, maritime and mining sectors. These moves underscore the company's long-term commitment to accelerating the transition to sustainable energy solutions. Kinetics has co-invested in a $20 million Series A financing round for Exterra, a Canada-based cleantech waste-to-value leader. The investment will enable Exterra to advance its flagship Hub I project in Quebec and further commercialize its dual-process technology, unlocking new pathways for carbon-negative industrial operations. Hub I will become the world's largest asbestos mitigation facility – processing 400,000 tonnes of asbestos mine tailings annually. Kinetics also participated in a $20 million Series A financing round for Power to Hydrogen, a U.S.-based manufacturer of next-generation AEM electrolyzers that produce green hydrogen from renewable electricity, and supports the production of e-methanol and green ammonia – key to decarbonizing the global shipping sector. The investment will support Power to Hydrogen's global market expansion, responding to growing demand for accessible and cost-effective green hydrogen. "These partnerships reflect our strategic vision to support breakthrough technologies that go beyond innovative electricity generation – enabling sustainable fuels, cleaner industries, and circular resource use," said Mehmet Katmer, General Manager of Kinetics. "We're proud to back innovators that are reshaping how the world produces, stores, and consumes energy." "This strategic investment from Mitsui O.S.K. Lines and Karpowership is a promising step towards producing lower emissions shipping fuels," said Paul Matter, Co-Founder and CEO of Power to Hydrogen. "With the increasing pressure to decarbonize shipping and promote zero-emission fuels, we see a significant opportunity for green hydrogen, e-methanol, and green ammonia to become the dominant fuels of the future. Our electrolyzers offer a cost-effective and scalable solution to meet this growing demand." By leveraging its global expertise, Kinetics is focused on scaling up solutions that create long-term value and drive decarbonization across complex, hard-to-abate sectors – from mining to maritime transport. About Kinetics Established in 2024, Kinetics specializes in cleaner, flexible energy systems through the development and delivery of floating LNG assets and renewable energy platforms, including battery energy storage systems (BESS). Tailored to meet the evolving needs of partners in the energy industry, Kinetics is redefining how energy infrastructure is deployed and accessed in a decarbonizing world. Kinetics is an initiative of Karpowership, a global energy company with over 25 years of experience in developing its world-leading fleet of floating power infrastructure and innovative energy solutions. About Exterra Exterra Carbon Solutions is a Canadian cleantech waste-to-value leader based in Quebec, Canada. The company specializes in transforming legacy mining waste into sustainable, low-carbon critical minerals and CO₂ sequestration solutions. Leveraging its proprietary LOW™ process to produce low-carbon metal oxides and valuable by-products, alongside the ROC™ process to permanently mineralize CO₂, Exterra redefines sustainable mineral production. Exterra has been awarded the prestigious 2024 Carbon Capture Canada Award in the CCUS First Adopter Award category last September. About Power to Hydrogen Power to Hydrogen is a designer and manufacturer of advanced electrolysis systems based in Columbus, Ohio. The company's innovative AEM electrolyzer technology offers a low-cost, high-performance alternative to existing options for producing clean hydrogen. Power to Hydrogen's systems are designed for easy installation and integration with renewable energy sources, enabling companies to produce green hydrogen efficiently. Power to Hydrogen's mission is to accelerate the transition to a clean energy economy by providing reliable, cost-effective, and accessible hydrogen solutions.
Cision Canada
06-05-2025
- Business
- Cision Canada
Exterra Carbon Solutions Raises $20M Series A to Transform Mining Waste into Low-Carbon Critical Minerals & CO2 Sequestration Français
MONTRÉAL, May 6, 2025 /CNW/ - Exterra Carbon Solutions (Exterra), a Canadian cleantech innovator transforming legacy mining waste into high-value, sustainable materials, today announced the closing of a CAD $20 million Series A financing round. The round was co-led by Clean Energy Ventures and BDC Capital, with the participation of the Government of Quebec, Investissement Quebec, MOL Switch, and Kinetics, a Karpowership initiative. This financing will enable Exterra to accelerate the integration of the mining industry into the circular economy and bring its total raised investment to CAD $32 million. Exterra's commercialization strategy centres on its upcoming Hub I project, scheduled to begin construction in 2027, in Quebec. Hub I will become the world's largest asbestos mitigation plant, with an annual capacity to process over 300,000 tonnes of asbestos mine tailings (AMT) annually. The facility will fully destroy any remaining asbestos fibres and enable the rehabilitation of mining sites. The company has derisked its technologies through pre-commercial pilot operations in Val-des-Sources, Quebec, and aims to be the first company globally to commercialize carbon-neutral mineral production from mine tailings. After the inauguration of Hub I, which is set to become one of the largest mine residue valorization initiatives in North America, Exterra aims to integrate key pieces of its technologies into larger-scale mining and mineral processing applications internationally. This includes areas such as acid recycling, mineralization of emissions, and beyond. The Dual Core of Exterra's Waste-to-Value Processes Exterra's technology platform consists of two distinct yet complementary processes: the Low-carbon Oxide from Waste (LOW TM) process produces low-carbon metal oxides (like magnesium oxide) alongside valuable by-products; and the Reactive Oxide to Carbonate (ROC TM) process leverages these low-carbon oxides to permanently mineralize CO₂ in a single step, without the need for carbon capture, creating substantial market opportunities. These breakthrough technologies are the first to produce carbon-neutral magnesium oxide by converting AMT into valuable minerals. Leveraging Quebec's low-carbon hydroelectric grid, Exterra's process also generates high-demand co-products including nickel concentrate used for batteries in electric vehicles and amorphous silica used for low-carbon building materials. With a regional supply capacity of up to 800 million tonnes of AMT, the Province has the potential to become the leading producer of advanced battery materials for electric vehicles derived from mine tailings, thereby developing one of the shortest nickel supply chains for transportation electrification. A recent pre-purchase agreement with Frontier Climate for carbon removal applications further validates the market potential of Exterra's low-carbon magnesium oxide, demonstrating a compelling story of environmental benefit and financial value. Exterra's strategic partnerships further underscore its market-leading approach. Its collaboration with BASF, Énergir, WSP, and Winsome Resources aims to accelerate technology adoption and bolster business opportunities in carbon mineralization. As part of this financing round, Clean Energy Venture and BDC Capital will gain seats on Exterra's board of directors. Quotes "Exterra pioneers a revolutionary approach to transforming mining waste into valuable low-carbon products and solutions. With this funding, we'll accelerate commercializing our dual-pronged platform that valorizes over 90% of minerals from asbestos residues while creating one of the shortest nickel supply chains for EV electrification in North America. This Series A marks a pivotal moment as we move toward commercial operations and demonstrates how mining can enable an equitable, sustainable net-zero future." — Olivier Dufresne, CEO of Exterra. "Exterra represents the future of responsible circular resource utilization. It's rare to see a process like Exterra's which can transform environmental liabilities into valuable assets through an innovative, scalable technology replicable globally. Along with our co-investors, we are excited to support the company's growth as they scale this critical technology." — Daniel Goldman, Co-Founder and Managing Partner at Clean Energy Ventures. "Finding new ways to mine critical minerals is essential to the energy transition. Exterra's technology converts asbestos tailings, an abundant resource in Canada, into minerals such as magnesium oxide that is used to sequester carbon, nickel that is used in making batteries, and silica that is used in building materials. That's exactly the type of innovative, impactful company that BDC Capital wants to support."— Pascal Lanctot, Partner at BDC Capital's Climate Tech Fund. "We are working hard for Quebec to become a carbon-neutral state by 2050. To achieve this, we must adopt new technologies that will help decarbonize our industries. It is thanks to the innovative capacity of our companies and circular economy projects, like those developed by Exterra, that we will succeed."— Christopher Skeete, Minister Delegate for the Economy, Minister Responsible for the Fight Against Racism and Minister Responsible for the Laval Region "With this new $2 million investment from our own funds in Exterra, Investissement Québec reaffirms its commitment to supporting the growth of local companies that contribute to decarbonizing our economy. Exterra, which offers an innovative and carbon-neutral solution to valorize mining residues and sequester carbon, is a prime example of an innovative start-up with high potential that participates in developing Quebec's expertise in this field, while promoting the circular economy."— Bicha Ngo, President and CEO, Investissement Québec "Exterra's breakthrough approach to turning mining waste into valuable, carbon-neutral materials aligns seamlessly with Kinetics' mission to accelerate the energy transition and decarbonize the global power sector. At Kinetics, we focus on advancing technologies that can transform the energy industry through innovative low-carbon solutions. By backing pioneers like Exterra, we are not only enabling the decarbonization of carbon-intensive industries but also helping shape a cleaner, more resilient energy landscape."— Mehmet Katmer, General Manager, Kinetics, A Karpowership Initiative. About Exterra Carbon Solutions Exterra Carbon Solutions is a Canadian cleantech waste-to-value leader based in Quebec, Canada. The company specializes in transforming legacy mining waste into sustainable, low-carbon critical minerals and CO₂ sequestration solutions. Leveraging its proprietary LOW™ process to produce low-carbon metal oxides and valuable by-products, alongside the ROC™ process to permanently mineralize CO₂, Exterra redefines sustainable mineral production. Exterra has been awarded the prestigious 2024 Carbon Capture Canada Award in the CCUS First Adopter Award category last September. For more information, please visit About Clean Energy Ventures Clean Energy Ventures (CEV) advances global climate solutions by backing exceptional leadership teams and game-changing technologies as they transform into market leaders that can mitigate 2.5 gigatons of CO2e by 2050. The CEV team harnesses decades of energy and climate tech operational experience to actively accelerate the commercialization of our portfolio companies. Founded in 2017, CEV manages over $415 million in assets and has funded 30 early-stage companies across North America, Europe, and Israel. For more information, visit About BDC Capital BDC Capital is committed to supporting innovative Canadian companies in their formative phase by backing them with a full range of capital solutions and advice to accelerate their scaling journey. By collaborating closely with the ecosystem, it is creating the space for innovators to grow and succeed. For more information on BDC Capital's solutions, visit About MOL Switch Mitsui O. S. K. Lines, Ltd. (MOL) is a global corporate group that develops various social infrastructure businesses centering on ocean shipping with approximately 900 vessels. The group also engages in the development of oil and natural gas reserves, terminal and logistics businesses connecting sea and land, and wind power and associated businesses. The MOL Group aims to be a strong and resilient corporate group, improving daily life for people around the world, opening up bright new horizons and providing new value to all stakeholders. Learn more at About Kinetics Established in 2024, Kinetics, a Karpowership initiative, is an energy company dedicated to cleaner, flexible energy systems. It specializes in the building, development, delivery, and leasing of floating LNG assets and renewable energy platforms, including battery energy storage systems (BESS), tailored to meet the evolving needs of utilities, governments, and independent power producers. With a commitment to innovation, sustainability, and impact, Kinetics is redefining how energy infrastructure is deployed and accessed in a decarbonizing world.
The Sun
23-04-2025
- Business
- The Sun
Continue to explore investment opportunities abroad, Fadillah tells Malaysian companies
ISTANBUL: Major Malaysian companies are encouraged to continue exploring investment opportunities abroad to strengthen business collaboration and, more crucially, to extend the sharing of technology and expertise, said Deputy Prime Minister Datuk Seri Fadillah Yusof. Fadillah, also the Energy Transition and Water Transformation Minister, said expertise and experience-sharing through cooperation with foreign countries benefits Malaysia tremendously. Citing Tenaga Nasional Bhd's (TNB) investment in Turkiye's energy company Gama Enerji AS, Fadillah said it exemplifies the deep business ties between the two countries. 'Although TNB is not the majority shareholder, it is involved in its management and is also developing or expanding TNB's investment at the international level,' he told Bernama on Tuesday night. 'We want to encourage more companies to explore and seek partners who can help extend their knowledge, technical skills, and technology back to Malaysia, in addition to the energy and water sectors, which are our focus,' he said. Earlier, Fadillah visited Gama Enerji in Ankara during his two-day official working visit to Turkiye which started on Tuesday. Malaysia's ambassador to Turkiye, Sazali Mustafa Kamal, and TNB's chief of new energy, Mohd Zarihi Mohd Hashim, were also present. Fadillah said he would also visit Turkish floating power plant operator Karpowership. The company is interested to invest and share expertise with Malaysia, particularly Sabah's power generation. 'Karpowership comprises vessels that serve as power generators. They are mobile and can be deployed anywhere to supply electricity using gas, liquefied petroleum gas and other fuels. 'They are very interested because they are aware, for example, of Sabah's electricity supply shortages. Therefore, they can deploy vessels for power generation wherever needed,' Fadillah said. He added that he would personally inspect the construction and installation site of the vessels to assess their energy supply capabilities. 'I want to see their capabilities, because sometimes we need a backup. So at the very least, we know there's an alternative. If there's a shortage, we can get support. But this is not a commitment yet – it's more an exploration,' he said. Fadillah also said Malaysia and Turkiye are working to move beyond an exchange of letter of intent related to energy sector cooperation, particularly in renewable and nuclear energy for power supply purposes into a memorandum of understanding (MoU). This would pave the way for cooperation between high-level officials and policymakers from both countries. Fadillah said this was among the matters discussed during his meeting with Turkiye's Energy and Natural Resources Minister, Alparslan Bayraktar, in Ankara on Tuesday. 'We are working to upgrade this letter of intent into an MoU,' he added. The exchange of the letter of intent was formalised during Turkiye President Recep Tayyip Erdogan's Feb 10-11 official visit to Malaysia. Fadillah will lead the Malaysian delegation to the Summit on the Future of Energy Security in London to be held tomorrow and Friday, after his visit to Turkiye.
The Sun
23-04-2025
- Business
- The Sun
Continue to explore investment opportunities abroad, extend the sharing of technology
ISTANBUL: Major Malaysian companies are encouraged to continue exploring investment opportunities abroad to strengthen business collaboration and, more crucially, to extend the sharing of technology and expertise, said Deputy Prime Minister Datuk Seri Fadillah Yusof. Fadillah, also the Energy Transition and Water Transformation Minister, said expertise and experience-sharing through cooperation with foreign countries benefits Malaysia tremendously. Citing Tenaga Nasional Bhd's (TNB) investment in Turkiye's energy company Gama Enerji A.S., Fadillah said it exemplifies the deep business ties between the two countries. 'Although TNB is not the majority shareholder, it is involved in its management and is also developing or expanding TNB's investment at the international level,' he told Bernama on Tuesday night. 'We want to encourage more companies to explore and seek partners who can help extend their knowledge, technical skills, and technology back to Malaysia, in addition to the energy and water sectors, which are our focus,' he said. Earlier, Fadillah visited Gama Enerji A.S. in Ankara during his two-day official working visit to Turkiye starting Tuesday. Malaysia's Ambassador to Turkiye Sazali Mustafa Kamal and TNB's chief of new energy Mohd Zarihi Mohd Hashim were also present. Fadillah said he will also visit Turkish floating power plant operator Karpowership later today. The company is interested to invest and share expertise with Malaysia, particularly Sabah's power generation. 'Karpowership comprises vessels that serve as power generators. They are mobile and can be deployed anywhere to supply electricity using gas, liquefied petroleum gas (LPG), and other fuels. 'They are very interested because they are aware, for example, of Sabah's electricity supply shortages. Therefore, they can deploy vessels for power generation wherever needed,' he said. The Deputy Prime Minister added that he would personally inspect the construction and installation site of the vessels today to assess their energy supply capabilities. 'I want to see their capabilities, because sometimes we need a backup. So at the very least, we know there's an alternative. If there's a shortage, we can get support. But this is not a commitment yet — it's more an exploration,' said Fadillah. Fadillah will lead the Malaysian delegation to the Summit on the Future of Energy Security in London from April 24- 25, following Turkiye. The summit is organised by the International Energy Agency (IEA) and the Government of the United Kingdom (UK).
