Latest news with #sustainableEnergy
Yahoo
08-07-2025
- Business
- Yahoo
Tulum Energy rediscovered a forgotten hydrogen tech and used it to raise $27M
It was a mistake that was ahead of its time. Between 2002 and 2005, engineers with the Techint Group were trying to dial in a new electric arc furnace for a steelmaker when they noticed something odd. The carbon electrodes, rather than breaking down, were growing larger. The team had inadvertently created what's known as a pyrolysis reaction, which is basically burning something in the absence of oxygen. In this case, the furnace was splitting methane into pure hydrogen and pure carbon. The team reported their discovery internally and then, basically, forgot about it. 'Back then, nobody cared because nobody cared about methane pyrolysis, about hydrogen,' Massimiliano Pieri, CEO of Tulum Energy, told TechCrunch. The experiment was largely forgotten for the next 20 years. But a couple of years ago, investors for the Techint Group's corporate VC arm, TechEnergy Ventures, were scouring the landscape for new ways to produce hydrogen from methane without the usual pollution. Techint's investors didn't have to look far. 'Someone in the company realized, 'But we already have that. We have this discovery,'' Pieri said. So the conglomerate dusted off the idea and spun out Tulum to turn the accidental discovery into a viable business. Recently, Tulum closed an oversubscribed $27 million seed round led by TDK Ventures and CDP Venture Capital, the company exclusively told TechCrunch. Doral Energy-Tech Ventures, MITO Tech Ventures, and TechEnergy Ventures participated. Tulum isn't the only startup pursuing methane pyrolysis as a way to produce hydrogen. Modern Hydrogen, Molten Industries, and Monolith are among Tulum's competitors. The reaction has attracted attention for its ability to produce hydrogen from cheap, widely available natural gas without any carbon dioxide emissions. In pyrolysis, methane is broken down in the absence of oxygen, the only products are hydrogen gas and a dust of solid carbon, both of which can be sold. But Tulum differs in a few ways. For one, it doesn't need to use expensive catalysts to encourage the pyrolysis reaction, which some of its competitors require. In its use of the electric arc furnace, Tulum is also using a widely used — if modified — technology. 'This gives you a big head start,' Pieri said. Tulum will use the seed funding to build a pilot plant in Mexico alongside an existing Techint Group steel plant. If all goes well, the steel plant could buy hydrogen and carbon directly from Tulum for use in its operations. Pieri said that at full-scale production, a commercial plant would generate two tons of hydrogen and 600 tons of carbon per day. Tulum is hoping its commercial scale plant will produce one kilogram of hydrogen for about $1.50 in the U.S., where electricity and natural gas are both cheap. At that price, it's just 50 cents more than most hydrogen made from natural gas today, and it significantly undercuts some of the leading green hydrogen methods. That's before the company sells any carbon that its process generates. Not bad for an almost forgotten mistake. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
02-07-2025
- Automotive
- Yahoo
Tesla (NasdaqGS:TSLA) Reports Q2 2025 Production of 410,244 Vehicles and 10 GWh Energy Storage
Tesla recently announced it produced 410,244 vehicles and deployed 9.6 GWh of energy storage products in Q2 2025, highlighting its manufacturing growth and commitment to sustainable energy. Despite reporting a 14% decline in deliveries, the stock saw a 6.35% rise last quarter, aligning somewhat with broader market increases. Business expansions in India and ongoing executive changes may have contributed positively to investor sentiment. Meanwhile, market dynamics, such as fluctuations in the tech sector and trade agreement announcements, likely provided additional context for Tesla's performance in contrast to wider economic indicators. We've spotted 1 warning sign for Tesla you should be aware of. Trump's oil boom is here — pipelines are primed to profit. Discover the 22 US stocks riding the wave. Tesla's recent announcement of new manufacturing achievements ties directly into its broader narrative of expanding into autonomous vehicles and energy products. While achieving a 6.35% rise in its stock value over the last quarter despite a decline in deliveries, Tesla demonstrates the ability of its ongoing expansions in India and executive changes to buoy investor sentiment. Key to this upbeat outlook is the potential for its initiatives, like the robotaxi and Cybercab, to significantly drive future revenue and earnings, indicating meaningful impact on forthcoming performance metrics. Over the past five years, Tesla shares have experienced a substantial total return of 224.54%, underscoring a longer-term appreciation and historic investor confidence. This contrasts with Tesla's performance relative to the US market over the previous year, where it managed to exceed the market's return of 13.9%, highlighting its resilience amid various challenges within the auto industry. This quarter's news is expected to influence revenue and earnings forecasts, amplifying growth prospects. Analysts anticipate Tesla's revenue to increase annually by considerable margins, supported by ventures like the Optimus humanoid robots and expansion in energy storage. Despite a current share price of US$275.35 being slightly below the consensus price target of US$289.44, the close disparity suggests that analysts perceive Tesla as relatively fairly priced, reflecting modestly optimistic market expectations. Our comprehensive valuation report raises the possibility that Tesla is priced higher than what may be justified by its financials. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:TSLA. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Khaleej Times
02-07-2025
- Business
- Khaleej Times
Empower supports sustainable energy future with its strategic sponsorship of Wetex 2025
Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, has announced its strategic sponsorship of the 27 th edition of the Water, Energy, Technology, and Environment Exhibition (Wetex 2025). The exhibition will be held under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and under the patronage of Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy. The exhibition will take place from September 30 to October 2, 2025, at the Dubai World Trade Centre, and is considered a leading global platform to showcase the latest developments and innovations in water, energy, environmental sustainability, and renewable energy. It brings together top companies, experts, and decision-makers from around the world. Empower is participating as one of the key supporters of innovation in the sustainable energy sector. The company will present its latest solutions and technologies in district cooling, along with its achievements in reducing carbon emissions and enhancing energy efficiency, aligned with national sustainability goals and the UAE's strategic initiative to achieve carbon neutrality by 2050. Ahmad bin Shafar, Empower CEO, stated: 'Our strategic support for Wetex reflects our strong commitment to supporting the UAE's transition to a sustainable green economy. Wetex has evolved into a prestigious global platform for exchanging insights, expertise, and innovations in clean energy and sustainability. We are proud to be part of this event, which drives sustainable development both locally and globally.' 'Empower plays a pivotal role in realizing Dubai's vision of becoming the most sustainable city in the world. Our district cooling services are among the most energy-efficient and environmentally friendly cooling solutions. Through our participation in Wetex 2025, we will spotlight our advanced projects, expansion strategies, and leadership in supporting the environmental agenda of Dubai and the UAE at large', he added. 'We believe that public-private partnerships are the cornerstone of achieving sustainable transformation. Wetex provides the ideal environment to build such partnerships and expand their impact regionally and globally', Bin Shafar concluded. Empower's support for Wetex 2025 embodies its ongoing commitment to investing in innovation and environmentally friendly technologies. It also underscores its leading role in building a more sustainable future for the district cooling sector and strengthening Dubai's position as a global hub for clean energy.
CTV News
24-06-2025
- Business
- CTV News
Province offers homeowners incentive to switch to heat pumps
Environment and Climate Change Minister Mike Moyes announces incentives for heat pumps at a news conference in Winnipeg on June 24, 2025. (Scott Andersson/CTV News Winnipeg) The provincial government is offering to foot most of the bill for Manitobans looking to make their homes more energy efficient using heat pumps. On Tuesday, Environment and Climate Change Minister Mike Moyes announced the launch of the Affordable Home Energy Program. The goal of the program is to see the conversion of 5,000 homes in Manitoba to ground source heat pump heating and cooling. 'In Manitoba, we're committed to being a net zero province by 2050 and exploring renewable and sustainable energy sources is part of that goal,' Moyes said. Eligible homeowners would be able to apply for the program through Efficiency Manitoba. 'Participants don't need to pay anything up front. We pay the contractor directly, and the monthly cost is conveniently added to their energy bill,' said Colleen Kuruluk, CEO of Efficiency Manitoba. Kuruluk said about 60 to 75 per cent of the installation costs would be covered through this incentive. The rest would be covered by the homeowner, who would pay $75 each month on their energy bill for 15 years. She noted even with this payment, most homeowners would still end up paying less overall on their monthly energy bills because geothermal technology is a more efficient source. Other options are available for multi-unit residential buildings. More information can be found on the Efficiency Manitoba website.
CNA
18-06-2025
- Business
- CNA
Malaysia pushing to fast track ASEAN Power Grid for greater cross-border electricity trade
Malaysia is pushing to fast track the ASEAN Power Grid, designed to facilitate greater cross-border electricity trade. This comes amid the growing need to decarbonise and ensure sustainable energy supply. As ASEAN chair, Malaysia is eager to have all the bloc's members endorse a single road map to realise a fully interconnected grid system by 2045. Melissa Goh reports from the Energy Asia conference in Kuala Lumpur.
