At Cititec, we talk for a living. That means we’re the first to hear about what’s going on in the commodities world. Here’s a rundown of the latest developments in the commodities space this April, including key funding updates, recent acquisitions, and new partnerships. Plus, check out the upcoming events you’ll want to keep on your radar for the month ahead.
Deals 🤝
🌬️ Holocene, a direct air capture startup, has been acquired by energy major Oxy, in a move that strengthens Oxy’s growing focus on carbon removal through direct air capture technology.
⛽ Woodside Energy, Australia’s leading oil and gas producer, will provide Germany’s Uniper with 1 million tonnes of LNG annually from its forthcoming Louisiana project in the U.S., and an additional 1 million tonnes per year from its global resources.
🌿 VARO Energy, backed by Carlyle Group, and trading giant Vitol have agreed to acquire Swedish refiner Preem AB, betting on rising demand for biofuels.
📊 Zema Global Data Corporation, a leading provider of data management and analytics solutions for energy and commodities companies, has acquired cQuant.io, a Zema Global Company, a leading energy risk management platform.
🔍 Brook Green Supply partners with Granular Energy in a bid to enhance energy supply traceability for customers.
🔋 Habitat Energy is collaborating with Eni Plenitude Wind & Energy, a subsidiary of Eni, to manage and optimise the 200MW/200MWh Guajillo battery energy storage system (BESS) located in Texas, USA.
⚡ Nyobolt, a battery startup, secures $30m in funding following concerns over its financial stability, as the broader sector feels the strain of changing macroeconomic conditions.
News 📰
☀️ If you’re based in the UK, you’ll have noticed how uncharacteristically sunny April was. In fact, on a very unassuming Tuesday, April 1st, solar power generated a new record high of more than 12.5 gigawatts of electricity (equivalent to around four new nuclear power plants).
💧Earba Storage Project received planning consent from the Scottish Government. Once completed, it will be the UK’s largest pumped-storage hydroelectricity scheme, capable of storing 40GWh of energy.
🚢 The International Maritime Organization (IMO) has approved a framework requiring ships to pay for carbon emissions, starting in 2028. This agreement, which covers the vast majority of global shipping, will mandate that ship owners use cleaner fuels or face penalties.
🇨🇳 China’s state-run food company, Cofco International, is significantly expanding its operations in Brazil, highlighting the strategic importance of the South American agricultural powerhouse amid ongoing U.S.-China trade tensions.
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