In August, for the 2nd Month in a Row, Solar Surpasses Wind & Takes the Lead Among Renewable Sources of Electrical Generation as Utility-Scale Solar Expands by 35%.

Primergy Solar, LLC (‘Primergy’), a leading developer, owner, and operator of utility-scale solar and energy storage, announced the closing of $225 million in project financing for its Valley of Fire (VoF) portfolio. The financing includes a $125 million tax credit sale for the Gemini Solar + Storage project and a $100 million revolving credit facility from Rabobank for the continued development of the other VoF projects.

The VoF portfolio includes the Gemini Solar + Storage project, commissioned in early 2024, and five additional projects in Nevada, Colorado, and Arizona totaling over 2.65 GW of solar and up to 1.5 GW of battery storage capacity. The projects range from early-to-late-stage development targeting operational dates through 2030, including the contracted Purple Sage Energy Center, a 400 MWac PV + 1.6 GWh battery storage project in Nevada.

“Valley of Fire is a critical component of our growing portfolio of operational and development-stage projects across the country,” said Tim Larrison, CFO of Primergy. “Adding tax credit sales to our financing toolbox along with increasing our access to additional credit capacity from leading financial institutions, like Rabobank, will help us to continue delivering clean energy at scale, and in the proven Primergy way of responsible, stakeholder-oriented development.”

Primergy was advised by Orrick and Paragon Energy Capital for the Gemini tax credit transfer sale. For the VoF credit facility, Primergy was advised by Stoel Rives LLP.

Primergy | www.primergysolar.com

Broad Street Realty inaugurated a 2.4 MW(dc) rooftop solar project at its Cromwell Shopping Center in Glen Burnie, Maryland.  The 233,000 square foot shopping center anchored by an AutoZone mega hub and a Roses is hosting the solar project, which produces enough electricity to power over 1,000 homes in BG&E service territory in Maryland. The ballasted racking system is covered by 4,380 solar panels.

Centennial Generating Company developed the project, which was built by Halo, a solar engineering contractor, and AccelDev served as development capital financing. The project will be owned and operated by Madison Energy Infrastructure.

Michael Jacoby, Broad Street Chairman and CEO: "The net-zero transition requires deep collaboration across value chains. We are excited to be partnering with Centennial and MEI to decarbonize the Cromwell Shopping Center, advancing our goal to reduce emissions throughout Broad Street's portfolio supporting our ESG initiatives."

David John Frenkil, Founder and Managing Principal of Centennial: "Centennial is proud to work with companies like Broad Street that are committed to reducing carbon emissions. The solar project at Cromwell Shopping Center demonstrates how commercial real estate owners can implement solar projects with a clear and measurable benefit to their bottom line while achieving sustainability targets."

Richard Walsh, CEO of Madison: "We're committed to delivering long-term value to our partners and customers with projects like these. They are proof positive of the significant impact on creating grid resilience and affordable clean energy. State incentive programs, when utilized thoughtfully by landlords like Broad Street and executed by developers like Centennial, can accelerate both community benefits and the national clean energy transition. We're proud to contribute to this progress."

The solar project at the Cromwell Shopping Center is one example of Broad Street's commitment to decarbonize the company's footprint in line with the most advanced technologies.

Broad Street Realty | www.broadstreetrealty.com 

Centennial | www.centennialgen.com 

Madison Energy Infrastructure | www.madisonei.com 

Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced a new partnership with Advanced Ionics, a low-cost green hydrogen technology provider.

This partnership includes an investment from Lummus Venture Capital to accelerate the commercialization of Advanced Ionics' hydrogen electrolyzer technology and support the decarbonization efforts in the refining, gas processing and petrochemical industries. Lummus will also provide engineering services and supply proprietary equipment to create additional green hydrogen capacity for new builds and existing hydrogen users or producers.

"Lummus has a proven track record of serving as a launchpad for innovative technologies," said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. "With Advanced Ionics, we will leverage this experience to develop and deploy cost-efficient solutions that advance green hydrogen production and help decarbonize key sectors of the downstream energy industry."

"Water vapor electrolyzers address two of the biggest challenges to expanding green hydrogen production: capital costs and electricity requirements," said Chad Mason, CEO of Advanced Ionics. "Our partnership with Lummus Technology – and their additional investment – marks a pivotal next step in accelerating the commercialization of technology, which was purpose-built for decarbonizing heavy industry."

By harnessing waste heat and low-cost clean electricity, Advanced Ionics' Symbion™ Electrolyzers use up to 40 percent less electricity per kilogram of hydrogen produced than alkaline and PEM technologies. The system's modular design allows for rapid deployment, ease of operation and maintenance, and the use of widely available components helps reduce capital costs.

Lummus is a global licensor of hydrogen technology for refinery, petrochemical and other industrial gas applications. Lummus' portfolio includes designs and technology for blue hydrogen and synthesis gas plants using steam methane reforming and auto-thermal reforming technology with natural gas, liquefied petroleum gas and naphtha feedstocks.

Lummus Technology | www.lummustechnology.com

Advanced Ionics | https://advanced-ionics.com

Sperra, a company dedicated to pioneering the next generation of renewable energy solutions through automated construction, has been awarded a $4 million grant from the U.S. Department of Energy Water Power Technologies Office to advance innovation in pumped storage hydropower technologies. In this project, Sperra will design, fabricate, and test a 10-m diameter, 500 kW / 600 kWh energy storage unit off the coast of Southern California. Additionally, this funding unlocks $3.7 million (€3.4M) from the German Ministry for Economic Affairs and Climate Action (BMWK) in the form of a parallel pump and turbine development project run by Fraunhofer IEE and PLEUGER Industries GmbH. The collaborative work of both projects will develop a low-cost subsea energy storage technology that supports electrical grid decarbonization.

New long-duration energy storage is essential for the US to integrate more renewable energy, improve grid reliability, and reduce fossil fuel usage during peak demand. Subsea pumped storage hydropower (SPSH) is an innovative technology that creates new opportunities for deployment of pumped storage hydropower by storing energy out of sight in the ocean, near America's largest cities.

SPSH provides the same benefits as traditional pumped storage hydropower but avoids many of the land-based challenges. This technology is a strong alternative to batteries because it does not rely on the critical materials needed for battery production and can largely be manufactured with locally-sourced concrete. The US has a vast potential for SPSH, with approximately 75 terawatt-hours of unused offshore potential, which is more than twice the potential of onshore closed-loop pumped storage.

"This project is a major step forward to realizing the full potential of energy storage to decarbonize our electric grid," said Jason Cotrell, CEO and Founder of Sperra. "SPSH with 3D-printed concrete will accelerate the energy transition, employing local labor and using immediately available materials. We are very excited about the international collaboration on this project with Fraunhofer IEE and PLEUGER, and are grateful that the Water Power Technologies Office recognizes the tremendous potential of this work."

Sperra's approach will advance the current state of the art in offshore energy storage by leveraging 3D printing to accelerate the deployment of concrete, modular and scalable energy storage solutions. It will build upon the pioneering work of Prof. Horst Schmidt-Böcking, Dr. Gerhard Luther, and Fraunhofer IEE on a subsea energy storage technology called "Stored Energy in the Sea" (StEnSea).

The project team includes world-leading research, engineering, and energy supply chain members necessary to complete the project and commercialize SPSH for US wind energy deployments including Sperra, WSP USA, Purdue University, the National Renewable Energy Laboratory, PLEUGER Industries GmbH, and Fraunhofer IEE. The team also includes a project advisory panel of key stakeholders.

"Pumped storage power plants are particularly suitable for storing electricity for several hours to a few days. However, their expansion potential is severely limited worldwide. Therefore, we are transferring their functional principle to the seabed – the natural and ecological restrictions are far lower there. In addition, the acceptance of the citizens is likely to be significantly higher," explains Dr. Bernhard Ernst, Senior Project Manager at Fraunhofer IEE.

This project builds upon R&D funding provided by the California Sustainable Energy Entrepreneur Development (CalSEED) program and the New York State Energy Research and Development Authority (NYSERDA). Future steps for Sperra include planning a grid-connected pilot demonstration to occur after the project's completion. This demonstration will help to de-risk the innovative technology and attract larger amounts of public and private funding for scaling up widespread deployments, providing a major contribution to the required energy storage capacity for the energy system of the future.

Sperra | sperra.com

Fraunhofer IEE | https://www.iee.fraunhofer.de/en.html

PLEUGER Industries | https://www.pleugerindustries.com/en/

U.S. Department of Energy Water Power Technologies Office | energy.gov/eere/water/water-power-technologies-office

DNV Inspection, the independent assurance and risk management provider, has set its sights on aggressive growth in the low-carbon energy space following a run of contract wins in recent years.  

By the end of the decade, the company is aiming to have low-carbon operations representing a large portion of its revenue stream as demand for established inspection services in new energies grows. 

Having formally entered the low-carbon market - which includes carbon capture and storage (CCS), hydrogen, and ammonia projects - in 2021, the sector now makes up a third of DNV Inspection’s sales. 

In order to build on this growth, DNV Inspection is now looking to grow its headcount with strategic hires in four key areas: Project Management, Technical Expertise, Sales Management, and Recruiting and Resourcing.  

That is in addition to looking for strategic partners with low carbon expertise and digital technology to reach out. 

Mohamed Houari, Global Managing Director of DNV Inspection, said: “Our recent successes in offshore wind, hydrogen, carbon capture and storage, and transmission & distribution underscore our commitment to the energy mix transformation. We have wholehearted faith in this market, and we firmly believe the skill sets that we have in DNV Inspection can help to successfully deliver low-carbon projects on a global scale.” 

“So far, we have been able to deliver this exponential growth using our existing resources, but we’re now looking for people to join us on this journey as we set about achieving our ambition in the low-carbon arena.” 

Much of DNV Inspection’s growth since 2021 has been driven by wins in offshore wind, and the sector currently makes up half of the company’s business in the UK. There has also been strong traction in continental Europe and North Asia, and specifically in Spain and South Korea. 

On the hydrogen front, DNV Inspection has recently won work in Saudia Arabia and Australia, and the company is also bidding aggressively on a number of CCS projects across the globe. This is further augmented by work in the transmission and distribution spaces. 

“In the offshore wind sector, and the low-carbon molecule space more generally, we are seeing rapid growth globally, but outside of Europe these markets are yet to properly mature,” said Mr Houari. “This comes with a number of challenges, specifically around the complexity of projects and the fragmented nature of the fledgling supply chain. It can be difficult to know where to purchase from and how to manage its quality. 

“Tackling these challenges requires familiarity and expertise, and DNV Inspection has more than five decades of experience working on large and complex energy infrastructure projects in some of the world’s most challenging environments, from the Northern North Sea to the Barents Sea.  

“In addition to our core competencies and the ongoing recruitment campaign, we also believe that partnering with strategic external stakeholders is critical to tackling the challenges ahead for the low-carbon markets. Delivering projects and the scale and speed required will necessitate having a web of competencies and expertise.” 

DNV | https://www.dnv.com/

Power Factors, the leading renewable energy management suite (REMS) provider, has been recognized as one of the top three energy management system (EMS) vendors in the utility-scale energy storage industry by Guidehouse Insights in its latest Guidehouse Insights Leaderboard: Energy Storage Software report. The report identifies Power Factors as the only vendor-agnostic EMS provider among the market leaders, standing out for its extensive global reach and expansive product portfolio of hardware and open software solutions.

Guidehouse Insights’ recognition highlights Power Factors' ability to deliver sophisticated, vendor-agnostic EMS software solutions that go beyond what vertical system integrators typically offer. Power Factors is “succeeding within a highly competitive and constantly evolving market,” said Michael Kelly, associate director with Guidehouse Insights. Kelly also noted that “the combination of enhanced control platforms and complementary analytics enables asset owners to achieve greater bankability, reliability, and performance from their front-of-the-meter storage assets.”  

The report emphasized how Power Factors’ acquisition-led approach has contributed to its success, noting that Inaccess, which it acquired in 2022, “has historically been an industry leader and contributes to Power Factor’s broadening portfolio and value proposition.” Power Factors also was acknowledged for its expansive geographic reach, which includes more than 300 GW of wind, solar, and battery storage assets across 70 countries, with 15 GW of contracted and installed energy storage capacity across multiple sites.

“We’re proud to be recognized as the only vendor-agnostic leader in energy management systems,” said Julieann Esper Rainville, CEO at Power Factors. “Our interoperable EMS applications help renewable asset owners and system integrators reduce costs, streamline operations, and future-proof their investments, while our commitment to flexibility ensures seamless integration with existing systems and hardware.”

“Vendor-agnostic, interoperable EMSs featuring standardized interfaces and low-cost integrations are key features of future-proofed solutions,” according to the report. Power Factors’ ability to integrate with diverse hardware systems makes it a top choice for organizations looking to reduce the complexities and costs associated with third-party integrations.

While vertical system integrators represent rising competition, currently "third-party EMS providers can offer more sophisticated software solutions than system integrators." Power Factors exemplifies this approach with its integrated, vendor-agnostic Unity renewable energy management suite (REMS), which brings together trusted hardware and software solutions for monitoring  and control, asset performance, operations and maintenance (O&M), and commercial asset management into a unified platform.

As investment in utility-scale solar and storage continues to grow, Power Factors remains dedicated to delivering robust, future-proofed energy management software that streamlines renewable energy deployment and operations globally. Guidehouse Insights’ recognition of Power Factors as a top EMS provider further cements Power Factors' leadership in driving the energy transition forward. With its Unity suite, Power Factors empowers renewable energy stakeholders to maximize performance, reduce costs, and simplify integration across a diverse range of systems.

Learn more about how Power Factors supports BESS and hybrid plants: https://www.powerfactors.com/energy-storage-software-contact-us.

Power Factors | powerfactors.com

Lithium ION Energy Limited (TSXV: ION) (FSE: ZA4) ("ION" or the "Company") is pleased to share that it has entered into an LOI Agreement to progress a business combination with United Rare Earths Ltd. ("UnitedRE"), a US-based rare earths recycling and refining company. UnitedRE secured a strategic location to develop and has significantly advanced discussions with a federal agency for grant opportunities which includes non-recourse, non-dilutive funding. UnitedRE has support at the highest levels of the government and an instrumental MOU with a national laboratory that will advance rare earth recycling and refining technologies in the U.S.

Highlights:

• Cutting edge technology with a clear path to creating a low-carbon, domestic supply of rare earths to the US, leveraging non-recourse funding;

• Rare earth elements required for military applications and essential in the production of motors needed for the energy transition related to electrification - a complementary strategic transaction;

• Lithium continues to play an irreplaceable role in the energy transition and ION's assets will be at the ready to fill this requirement; and

• Strong combined management teams with deep relationships across government, technology, capital markets and mining.

"I am delighted to announce this major development with respect to becoming an integral player in the critical metals space. We believe completion of the proposed business combination will catapult ION Energy into a diversified battery and critical metals player on the global market. We believe strongly in our Lithium assets and the sheer scale and potential UnitedRE brings is compelling to achieve the vital objective of a cleaner, secure, traceable future for humanity," said Ali Haji, CEO & Director - Lithium ION Energy Ltd.

Jeffrey Willis, Chairman of UnitedRE, commented, "We are excited to announce this strategic step forward with ION Energy, marking a pivotal moment for both organizations. By aligning our resources and expertise with ION Energy, we are creating a foundation for accelerated growth and innovation. This partnership enhances our capability to deliver on our shared mission to establish a sustainable, resilient supply chain to power renewable technologies and the electrification movement. Our collective efforts, grounded in a shared vision, will empower us to meet the growing demand for rare earth materials, securing the supply chain for America's future."

Convertible Debentures:

To support this new development for the Company, ION Energy is also pleased to announce a non-brokered private placement offering of convertible debentures of the Company ("Debentures") at a price of US$1,000 per Debenture for aggregate gross proceeds of US$ 2,000,000 (the "Offering"). The Debentures will mature 24 months from the date of issue (the "Maturity Date"), carry an interest rate of 8% per year and will be convertible to common shares at a conversion price of $0.10 per share. In the event the 10-day volume weighted average price of the common shares of the Company exceeds $0.15 or more on the Toronto Stock Exchange, the Company will have the right to accelerate the conversion of the shares. 

Proceeds of the Offering will be used to complete the business combination with UnitedRE and develop its rare earth recycling and refining technology, for the continued advancement and exploration of the Company's lithium assets, as well as working capital. 

ION Energy expects the proposed business combination will constitute an "expedited acquisition" under the policies of the TSXV. Completion of each of the proposed business combination and the Offering remains subject to the approval of the TSXV.

Lithium ION Energy | www.ionenergy.ca