Welcome to your weekly Rundown, for the week ending April 2.
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 WATCH: Energy Act of 2020 – A Clean Energy Road Map
Congress recently passed one of the biggest advancements in clean energy and climate policy in over a decade – the monumental Energy Act of 2020. Tucked away in the 5,000 page end of year omnibus was a wholly bipartisan, clean energy innovation roadmap. Watch ClearPath’s latest whiteboard video where Rich Powell explains what’s in the Energy Act and why it’s so important.
Watch the video here.
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ClearPath Applauds TRi Energy Partnership Announcement for Advanced Nuclear Reactor
ClearPath welcomed the announcement by Energy Northwest, Grant County Public Utility District and X-energy, LLC that they have established a mutual partnership, called the TRi Energy Partnership, to support the development and commercial demonstration of X-energy’s advanced nuclear reactor, the Xe-100. In October 2020, X-energy was selected along with TerraPower’s Natrium for the Advanced Reactor Demonstration Program (ARDP), based on the feasibility that they can be licensed by the Nuclear Regulatory Commission, meet an aggressive demonstration timeline, and be cost-competitive.
Read the TRi Energy Partnership press release here.
Read ClearPath’s press release here.
Read Rep. Dan Newhouse’s (R-WA) press release here.
Rich's Take
“Advanced nuclear energy is the next frontier of clean energy innovation, and this moonshot goal of bringing this technology to market is made possible by the Advanced Reactor Demonstration Program. For the U.S. to remain competitive internationally, we need a product. By building this reactor, we’re on our way to adding more clean energy to the grid and re-establishing American nuclear energy leadership. A true win-win.”
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 American-Made Geothermal Lithium Prize
Geothermal energy is a highly promising and reliable zero-emissions technology. Geothermal also holds promise for producing more domestic lithium for grid-scale battery storage, reducing dependence on critical minerals supply chains dominated by China. This week, the Department of Energy (DOE) launched the American-Made Geothermal Lithium Extraction Prize, designed to advance technologies that improve the economics and reduce the environmental impacts of lithium recovery from geothermal brines. This prize builds on other American-Made Challenges established under the Trump Administration. Read more
The Energy Act of 2020 included programs to demonstrate advanced geothermal technologies, including opportunities to transfer drilling technologies from the oil and gas industry and demonstrate the co-production of critical minerals with geothermal energy.
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Rich Joins Global Energy Institute’s “EnergyInnovates” Webinar
Yesterday, the Global Energy Institute kicked off its EnergyInnovates Event Series with a virtual event, “EnergyInnovates: Funding our Energy Future.” ClearPath Executive Director Rich Powell participated in a roundtable discussion along with Josh Freed from Third Way and Robin Millican from Breakthrough Energy. Watch the recording here
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IN CASE YOU MISSED IT
Carbon capture is all the rage. Can these startups make it profitable?
2020 was a record year for carbon capture policy. We’re seeing a big wave of private sector investments. Even Elon Musk joined in, helping make carbon capture mainstream by announcing an impressive $100 million prize to drive innovation. The market tripled down on Elon’s bet, with carbon capture startups alone racking up over $330 million in new investments last year. The oil and gas industry is increasingly translating carbon emissions reduction commitments to its balance sheet including carbon capture investment strategies. But, as an article in Pitchbook warns, “the industry has received relatively little funding from venture capital in recent years.” The article, “Carbon capture is all the rage. Can these startups make it profitable?” does a good job highlighting some of the exciting opportunities and financing challenges ahead for carbon capture.
Hydrogen-based steelmaking to begin in Hamburg
ArcelorMittal, a global steel manufacturer, is developing a new, innovative project which produces iron through Direct Reduced Iron (DRI), an alternative steelmaking process, using 100% hydrogen. Direct reduced iron, also sometimes referred to as “Sponge Iron,” is an alternative steel production route which typically uses natural gas. Their facility in Hamburg, Germany aims to be the first industrial scale producer, with an annual production of 100,000 tons of steel. Read more
 Clean Energy is Popular with Voters
The Washington Examiner reported on new ClearPath Action polling which found that support for expanding clean energy is growing across party lines.
“Nearly 80% of respondents to the survey, conducted by Echelon Insights, said it is extremely or fairly important that their member of Congress support policies that promote clean energy…
“On a policy level, the survey found majority support in both parties for Congress offering tax incentives for companies to develop clean energy technologies.
“Broadly speaking, 63% of respondents said they favor “more innovation and better technology” as the “best way” to fight climate change, compared to “more regulation.”
The polling includes an analysis of the 3,000 person nationwide poll for every Congressional District and State. View the polling and analysis here.
The Iron-y of Metal Jokes? People Always ‘Steel’ Them
Metals are an integral part of our society. Ranging from basic steels to high-performance alloys, they are a necessary resource in transporting electricity on the grid, constructing buildings, producing everyday kitchen and household items, creating bridges and tunnels, and building trains, cars and even planes.
As part of our new industrial portfolio, we are focused on three technology areas with high emissions reduction potential – metals, concrete & cement, and hydrogen.
Want to learn more about steel? Check out Savita Bowman's Steel 101 here.
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THE PATH AHEAD
April 27-28: Foreign Policy is hosting a virtual climate summit, Advancing the Global Dialogue on Climate Action.
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| CLEAN ENERGY. THE CONSERVATIVE WAY. |
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