Merry Christmas and Happy New Year from the ClearPath team!
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1. Supplying the world with American clean energy
America must lead the world on clean energy, and good trade policy is a critical piece in that mission. ClearPath CEO Rich Powell testified on this topic before the House Ways and Means Trade Subcommittee this week.
Rich’s testimony covered three key topics:
- Thinking globally and leading with American innovation;
- Unleashing American energy resources and manufacturing; and
- Expanding U.S. clean energy exports.
What’s clear: Lowering global emissions will require the right mix of clean energy technologies. With the right climate and trade policies, America can out-compete adversaries in China and Russia and supply clean technology to the world.
Plug in: Watch Rich’s full testimony here.
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2. Fusion milestone
The first net-energy fusion experiment is a game-changer for the potential of fusion energy.
- Researchers at the Lawrence Livermore National Laboratory (LLNL) in California were able to achieve fusion ignition.
- Fusion ignition results in a net energy gain, meaning more energy was produced in a fusion reaction than was used to ignite it.
- This milestone is the first fusion experiment to result in net energy gain, and indicates fusion is moving toward being a controlled and reliable zero-emissions energy source.
What's clear: Fusion, fueled by hydrogen, generates zero emissions and has the potential for deep decarbonization.
Plug in: Rich Powell discusses this on Julie Mason Mornings on SiriusXM's POTUS channel.
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3. NET Power going public
CCS developer NET Power and Rice Acquisition Corp. II, a special purpose acquisition company, announced a deal to take the company public.
- The deal will accelerate the deployment of NET Power’s clean, natural-gas-powered electric generator in more markets.
- The transaction is expected to close in the second quarter of 2023.
- The combined company will be listed on the NYSE under the ticker symbol “NPWR.”
What's clear: NET Power’s innovative CCS technology could change everything about clean energy development in the U.S. and around the world.
Plug in: This deal will help them scale up faster with an influx of capital, putting them on a clear path to commercialization and global deployment,” said Rich Powell in E&E News.
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4. ClearPath adds Wall Street Energy Analyst to Advisory Board
ClearPath welcomes Arjun Murti to its Advisory Board.
- Before retiring in 2014, Murti served as a Partner, Co-Director of America’s Equity Research, and Equity Research Analyst at Goldman Sachs.
- Murti serves in advisory roles at Veriten, ConocoPhillips, Warburg Pincus, and the Center on Global Energy Policy. He also publishes "Super-Spiked," a Substack newsletter covering the clash between energy markets and energy and climate policy.
What's clear: “Arjun’s policy and capital markets expertise will help advise on common-sense, financially feasible clean energy and climate solutions,” said ClearPath CEO Rich Powell.”
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5. Nuclear, an American alternative to Russian energy
- During the flurry of lame-duck activity, the Senate Foreign Relations Committee passed the bipartisan International Nuclear Energy Act (INEA).
- INEA develops a robust civil nuclear export strategy to compete against Russia.
What's clear: The U.S. must lead and take a whole-of-government approach to create a robust civil nuclear export strategy. Success would mean sustained industry, affordable clean energy for developing nations, and strong international partnerships.
Plug in: Our Policy Advisor Natalie Houghtalen and Government Affairs Fellow Mallory Shaevsky explain how INEA will strengthen America’s nuclear export strategy in a new blog post.
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6. Conservatives’ clear path to solving climate change
In an op-ed, Rich Powell highlights the Republican policy framework as they prepare to take over the House.
What's clear: There is real momentum around rational solutions that can both solve the climate challenge and support the economy. We are not merely suggesting you give conservatives a chance on climate — you should be excited about their policy agenda.
Plug in: Check out the full piece in The Daily Caller.
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7. New joint venture for American geothermal
- Chevron and Baseload policy strategy will help secure American energy dominance over Russia and China, unleash domestic resources, boost the economy and foster community resilience across America.
- They plan to explore Esmeralda County, NV, where there has already been research and exploration into geothermal opportunities, for future developments.
What's clear: Geothermal provides emissions-free heat and power with the highest capacity factor of any renewable energy source – all that’s left is getting the permitting process in order.
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8. New USNIC President and CEO
- Mr. Abrajano was recently Chief Operating Officer, Head of Agency at the U.S. Trade and Development Agency, where he led the Agency’s export promotion efforts supporting U.S. jobs and businesses within emerging markets in the energy, transportation, and agribusiness sectors, including the nuclear sector.
What's clear: "Todd’s blend of senior government leadership, global business development, public relations expertise, and political acumen uniquely position him to lead the Council forward at this exciting time for the industry,” said ClearPath Chief Strategy Officer Jeremy Harrell.
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9. ICYMI
- Rich Powell appeared on Veriten’s C.O.B. Tuesday podcast to discuss bipartisan support for nuclear, global energy access, and the evolution of climate policy.
- ClearPath Program Director Savvy Bowman spoke on an Energy Futures Initiative panel on deploying large-scale carbon removal solutions.
- A bipartisan group of Senators is urging the International Development Finance Corporation (DFC) to finance and support more advanced nuclear technology.
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That’s all from us. The Rundown is taking two weeks off for the holiday season, but we will be back in your inbox on Friday, January 6. Thanks for reading and Happy Holidays!
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