At Cititec, we talk for a living. That means we’re the first to hear about what’s going on in the commodities world. Whether it’s through news sources or, as Marvin Gaye would say, ‘through the grapevine,’ here are the latest updates and knowledge we’ve gathered for you.
News 📰
📱Trump’s posts disrupt trading: Richard Holtum, Trafigura’s new CEO, said he was “semi-seriously” considering moving Geneva traders’ hours to 2pm–midnight to better respond to market swings triggered by Trump’s posts on X and Truth Social.
🇨🇭All eyes on metals: Swiss trading house Mercuria is preparing to invest even more in its rapidly expanding metals division and buy further stakes in mines, snapping up copper supplies, according to top executives at the company.
🍇 Imperial Oil shakes up UK operations: A former employee shared that Imperial Oil has moved all UK operations to Canada, terminating contracts with UK-based staff in the process.
🍇 Kraken is expanding: Kraken, an energy tech platform and owned by Octopus Energy, is expanding its presence in the U.S. and Europe under new CEO Amir Orad. His focus is on tech innovation to support smarter, cleaner energy solutions.
🏦 AES Corporation announces layoffs: AES Corporation has laid off 10% of its staff, mainly due to shifts in political support for renewable energy following recent elections.
🔋Alpiq expands energy storage in Europe: Swiss power producer and energy services provider Alpiq has acquired a 125-MW battery storage project in Finland, marking its push into the European energy storage sector.
🌬️ Vattenfall says yes to wind farm: Vattenfall has reached a final investment decision to build Germany’s largest offshore wind farm, set to produce enough electricity to power over 1.5 million homes.
💡 Qube starts physical gas trading: Qube is diving into the world of physical gas trading, as they expand their presence in the commodities markets.
Deals 🤝
🔋 Schneider Electric’s $700M U.S. investment: Schneider Electric is investing over $700 million in the U.S. to fuel growth in both the energy and AI sectors. This is set to drive job creation across the country.
🌍 Abu Dhabi’s new $25B energy venture: Abu Dhabi has launched a new $25 billion U.S. energy venture, with plans to power the future of AI.
💥 Sparta secures $42M Series B: Sparta Commodities has raised $42 million in Series B funding, led by One Peak, to help transform commodity trading through AI-powered insights and collaboration.
🚢 Windward acquired by FTV Capital: Windward has accepted a takeover offer worth £216 million from the fund group FTV. This move transitions Windward to a privately held U.S. company, which could drive expansion within government and commercial sectors.
⚡ National Grid Partners to invest $100 million: National Grid’s corporate venture capital and innovation arm will invest $100 million in artificial intelligence (AI) startups that are advancing the future of energy. These include AiDASH, Exodigo, Luminance, Sensat, and Urbint.
🛢️NEO Energy announces merger with Repsol UK: Repsol and NEO Energy are merging their UK North Sea operations, with output set to reach 130,000 barrels per day this year.
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