1. Commercializing fusion energy
Investments in fusion energy are heating up as evidenced by two big announcements this week:
What’s clear: Fusion has the potential to make a global impact – creating nearly limitless energy using elements like hydrogen.
- Fusion plants also have the benefits of being small and emissions-free.
Plug in: Last month, clean energy company Helion announced a fundraising round of $500 million in private investments for the construction of its fusion device, Polaris, in Everett, Washington.
|
2. Hydrogen investments key to global energy competitiveness
Hydrogen has emerged as a promising energy solution, as many in government and industry are assessing countries’ net-zero goals, writes Rich Powell in a piece for the Washington Times.
- To preserve U.S. energy independence, we must compete in the energy transition, and hydrogen will be a key pillar.
What’s clear: American policymakers are creating a comprehensive framework to deploy hydrogen across sectors.
- Congress established at least four regional hydrogen hubs and $9.5 billion for hydrogen infrastructure development in the infrastructure bill.
- DOE’s first Energy Earthshot aims to reduce the price of one kilogram of hydrogen to $1 within one decade.
Plug in: ClearPath published a report this fall on the opportunities that hydrogen exports present.
|
3. 2021 brought huge momentum for CCUS
The International Energy Agency published an analysis on the unprecedented momentum behind CCUS in 2021, and how this differs from previous years.
- In 2021, more than 100 new CCUS facilities were announced, and the global project pipeline for CO2 capture capacity is on track to quadruple.
What IEA found: Growth in the project pipeline is stemming from:
- Increased recognition that CCUS is necessary to meet net-zero goals.
- Enhanced interest in cost-competitive, low-carbon hydrogen.
- An improved investment environment due to new policy incentives.
What's different now?
- The commercial business model has shifted to industrial hubs rather than large individual facilities, which enables economies of scale and reduces risk.
- There is more durable policy in the U.S. (such as the 45Q tax credit) and globally.
- Increase in net-zero goals worldwide.
What’s clear: Carbon capture is critical to achieving net-zero emissions, and innovation will be key to accelerate commercialization and deployment of CCUS technologies.
|
4. Another milestone for Kairos
The NRC announced it can officially begin a detailed review of Kairos’ application for a construction permit for the Hermes reactor, a scaled down version of Kairos’ salt-cooled high temperature fast reactor.
- NRC staff estimates it will issue the Final Safety Evaluation Report and the Final Environmental Impact Statement by September of 2023.
- Once they receive the construction permit, Kairos can start construction of Hermes, which plans to be operational by 2026.
What’s clear: This is great news for Kairos and the nuclear industry and gets us one step closer to deploying a variety of advanced nuclear reactors.
|
5. ICYMI
- GE Hitachi Nuclear Energy announced it will build a small modular nuclear reactor with Ontario Power Generation.
- Rich Powell recently joined the Ruthless Podcast to talk about how Republicans are leading with clean energy innovation solutions to the climate challenge.
- How do we get rid of the CO₂ already in the atmosphere? Fortunately, there are multiple carbon dioxide removal (CDR) solutions.
|
6. Coming down the pipeline
|
|
