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Today’s Highlights:
🔝Top Story: Germany and Netherlands Launch €3 Billion RFNBO Scheme to Accelerate Renewable Hydrogen Growth.
💲Investment: The African Development Bank invests $10M in ACV Fund, Nanoramic raises $44M, VÆRIDION secures €14M, Zuri raises €4.4M, and New Wave Biotech raises €1.2M.
🔄 Integration: Volkswagen invests $48M in Patriot Battery Metals, Oklo plans SMRs for Switch, and Stryten and Largo launch Storion Energy.
💡 Intelligence: Notable Policy Trends in Climate Tech & Energy in 2024.
Germany and Netherlands Launch €3 Billion RFNBO Scheme to Accelerate Renewable Hydrogen Growth
Image Credit: Mauro Bottaro
€3 Billion Initiative to Boost RFNBO Production
Germany and the Netherlands have unveiled a €3 billion scheme to support the production of Renewable Fuels of Non-Biological Origin (RFNBOs), with Germany contributing €2.7 billion and the Netherlands €300 million. The initiative aims to construct at least 1.875 GW of electrolysis capacity, with competitive bidding processes set to conclude by 2025. “This scheme will address the increasing demand for renewable fuels in the EU while ensuring cost efficiency,” said Teresa Ribera, Executive Vice-President for Clean, Just and Competitive Transition.
Double Auction System to Drive Efficiency
The scheme employs a double auction mechanism, connecting RFNBO producers—primarily from non-EU countries—and buyers in Germany and the Netherlands. Contracts will be awarded to sellers offering the lowest prices and buyers willing to pay the highest, with state funding bridging price gaps. Beneficiaries must comply with EU criteria for RFNBO production. Ribera noted, “The design of the scheme will support only the most cost-effective projects, reducing taxpayer costs and minimizing competition distortions.”
Supporting EU Climate Targets
The initiative is expected to avoid up to 5.73 million tonnes of CO2 equivalent emissions, aligning with Germany’s, the Netherlands’, and the EU’s climate goals. The scheme complements previous efforts like Germany’s Hydrogen Core Network and its 2021 renewable hydrogen production initiative. “This effort will create international value chains that significantly cut greenhouse gas emissions,” Ribera added, highlighting its role in scaling renewable hydrogen technologies by 2030. Read More
Investment Highlights of the Day
- The African Development Bank (ADB) recently announced a $10 million investment from its Sustainable Energy Fund for Africa (SEFA) into the Persistent Africa Climate Venture Builder Fund (ACV Fund). Read More
- Nanoramic secured $44M, led by GM Ventures and Catalus Capital, to commercialize its Neocarbonix technology for improved, sustainable lithium-ion batteries. Read More
- Munich-based aviation startup VÆRIDION has raised €14 million in a Series A funding round to accelerate the development of its innovative electric aircraft, the Microliner. Read More
- The US eVTOL industry advances with new FAA regulations and Archer’s expansion, while Europe’s challenges persist; Czech hybrid VTOL developer Zuri raises €4.4M in pre-Series A funding. Read More
- London-based New Wave Biotech raised €1.2M in equity and grants, backed by EIT Food and Innovate UK, to grow its team and explore new markets. Read More
Integration Highlights of the Day
- Volkswagen PowerCo invested $48M in Patriot Battery Metals, securing a 10-year lithium supply to support its battery production expansion. Read More
- Nuclear startup Oklo plans to build SMRs generating 12GW for Switch data centers by 2044, despite lacking NRC approval and a binding agreement. Read More
- Stryten Energy and Largo Clean Energy launched Storion Energy to domestically source vanadium electrolyte for cost-effective long-duration energy storage. Read More
Climate Insider Intelligence: Notable Policy Trends in Climate Tech & Energy in 2024
As the race to decarbonize accelerates, 2024 has emerged as a defining year in the global push for cleaner energy systems and climate resilience. From groundbreaking initiatives in the U.S. to innovative decarbonization plans across Europe and Asia, governments are unveiling ambitious policies to mitigate climate risks. But are they enough? This article dives into the key policy developments, challenges, and investment opportunities driving the global transition toward a sustainable future. Read More
