This month, we’re feeling pretty AI-optimistic. With the recent UK-US Tech Prosperity Deal and global perceptions of nuclear continuing to shift, there might just be a way through the AI-energy consumption problem. As always, it’s time to take a look back at month’s top headlines, the new deals shaking up the sector, and the events to keep on your radar for October.
News 📰
⚖️ EU court green‑lights nuclear & gas. Europe’s General Court threw out Austria’s challenge to the EU’s green‑taxonomy rules, confirming that under certain conditions nuclear energy and fossil gas can be labelled environmentally sustainable investments.
🐙 Octopus Energy spins off Kraken. UK utility Octopus Energy will demerge its software arm Kraken Technologies, in a move aimed at speeding up the platform’s expansion across the globe.
⚛️ Mercuria dives into uranium. Commodity trader Mercuria has begun physical uranium trading, joining banks Natixis and Citi as nuclear‑fuel demand is projected to more than double by 2040.
📈 Hedge funds hunt commodity volatility traders. Hedge funds including Eisler Capital and Squarepoint Capital are snapping up traders who specialise in commodity volatility as market swings send volatility surging.
Deals 🤝
☢️ Centrica & X‑Energy eye modular reactors. Centrica and US partner X‑Energy signed a joint development deal to deploy advanced modular reactors at Hartlepool which could generate enough clean power for 1.5 million homes and over £12 billion in lifetime economic value.
🚢 Glenfarne & Gunvor ink 20‑year LNG deal. U.S.-based energy infrastructure firm Glenfarne has signed a 20-year agreement to supply liquefied natural gas to Gunvor, a global trading company.
⛏️ Glencore mulls selling DRC mine stake. Bloomberg reported that Glencore is discussing the sale of its 75% stake in Kamoto Copper Co (KKC). in Congo. KCC produces copper and cobalt; the DRC supplies over 70 % of the world’s cobalt.
💰 Munich based Feld.energy raises €10 m to scale agri‑PV tech. Led by HV Capital with participation from Future Energy Ventures, AENU and Angel Invest, Feld.energy has secured more than €10 million in seed financing. The company offers modular agri‑photovoltaic systems that let farmers grow crops and generate solar power on the same land; farmers can earn over €100 000 under a 20‑year lease while continuing food production.
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