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Today’s Highlights:
🔝Top Story: DOE Backs Nostromo Energy with $305.5M Loan Guarantee for Revolutionary Thermal Energy Storage Project.
💲Investment: The European Commission, Avaada Group, Next Sense, and Noord-Brabant are making major investments in renewable energy, smart building solutions, and hydrogen innovation.
🔬 Innovation: Nagoya University researchers developed a PFAS-free phosphonic acid polymer electrolyte for fuel cells, enabling high-temperature, low-humidity operation.
🔄 Integration: SSEN Transmission, Switzerland, and Stellantis-CATL announce major investments in grid, climate disclosure, and a carbon-neutral battery plant.
💡 Intelligence: 20 Notable Women Who Led Corporate Sustainability in 2024.
DOE Backs Nostromo Energy with $305.5M Loan Guarantee for Revolutionary Thermal Energy Storage Project
Loan Guarantee for Project IceBrick
Nostromo Energy has secured a conditional commitment for a $305.5 million loan guarantee from the U.S. Department of Energy (DOE) Loan Programs Office. The funding will support Project IceBrick, the first large-scale deployment of Nostromo’s IceBrick thermal energy storage (TES) technology. Designed to reduce emissions, costs, and grid strain, the project will install up to 193 IceBrick systems across California, with at least 20% in disadvantaged communities. This initiative aligns with California’s clean energy goals, aiming for 60% renewable energy by 2030 and 100% by 2045.
Technology and Impact
IceBrick is a thermal energy storage solution tailored for commercial and industrial buildings, enabling load-shifting to alleviate peak electricity demand. By charging with renewable energy during off-peak hours and discharging during peak demand, the technology minimizes reliance on polluting gas peaker plants. The project is expected to add 170 MW of behind-the-meter storage capacity, avoid up to 500,000 tons of CO2 emissions over its lifetime, and improve grid reliability as a virtual power plant (VPP).
Economic and Community Benefits
Beyond environmental impact, Project IceBrick will create significant economic opportunities, including over 200 jobs during construction and 874 annual job equivalents over five years. The initiative prioritizes hiring from disadvantaged communities, furthering equitable benefits. With its Energy Storage-as-a-Service (ESaaS) model, IceBrick installations will also offer cost-effective, sustainable cooling solutions for commercial property owners, including retrofits for data centers, hospitals, and hotels. Read More
Investment Highlights of the Day
- The European Commission has approved a €2.6 billion Estonian scheme to support offshore wind energy through competitive contracts for difference, fostering the transition to a net-zero economy. Read More
- Avaada Group has committed over INR 1 lakh crore to Rajasthan’s renewable energy sector, including a 1.2 GW pumped storage project, green hydrogen, ammonia, solar, and wind initiatives, aiming to transform the state into a global renewable energy hub. Read More
- Next Sense, an Amsterdam-based smart building SaaS provider, raised €11.5M in Series A funding to scale globally and advance its platform for decarbonizing the built environment. Read More
- Noord-Brabant has invested over €3M in a coalition of companies and institutions to advance sustainable hydrogen production and position the province as a leader in hydrogen innovation. Read More
Innovation Highlights of the Day
Researchers at Nagoya University have developed a phosphonic acid polymer electrolyte enabling fuel cells to operate at high temperatures and low humidity, offering a PFAS-free alternative to address environmental concerns. Read More
Integration Highlights of the Day
- SSEN Transmission plans to invest £22 billion in UK grid infrastructure (2026-2031), supporting net-zero goals, job creation, and energy security, with potential for £9.4 billion more under Ofgem’s RIIO model. Read More
- Switzerland has launched a consultation to update its climate disclosure rules, proposing alignment with ISSB or EU standards and requiring companies to detail net-zero plans by 2050. Read More
- Stellantis and CATL are investing up to €4.1 billion to build a carbon-neutral lithium iron phosphate (LFP) battery plant in Zaragoza, Spain, with production starting by 2026 and a potential capacity of 50 GWh. Read More
Climate Insider Intelligence: 20 Notable Women Who Led Corporate Sustainability in 2024
As the climate crisis intensifies, women leaders are taking the reins in shaping a sustainable future. From e-commerce giants like eBay’s Renee Morin to tech innovators such as Google’s Kate Brandt, and financial powerhouses like Jessica Alsford at Morgan Stanley, these trailblazing women are revolutionizing corporate sustainability. They’re embedding ESG priorities, leading low-carbon strategies, and driving systemic change across industries. In our latest listicle, Climate Insider highlights 20 remarkable women at the forefront of this movement, each paving the way for a greener, more resilient world. Discover their transformative impact in 2024 and beyond. Read More
