Author: Graham Foster

A new US start-up, backed by notable figures like Sam Altman and Peter Thiel, has successfully raised $425 million. This funding aims to help the company, Helion, meet its ambitious goal of producing electricity from nuclear fusion by 2028. Among several competitors in the race for effective nuclear fusion, Helion has set the most aggressive timeline. Nuclear fusion, a long-awaited breakthrough technology, merges hydrogen atoms to create helium and release substantial energy. Helion’s latest funding round attracted investment from venture capital firms Lightspeed and SoftBank’s second Vision Fund, alongside contributions from Altman, Thiel’s Mithril Capital, and the steel company Nucor.…

In a surprising shift, hedge fund Engine No. 1, known for its aggressive tactics in 2021 that helped secure seats on ExxonMobil’s board, has announced a new partnership with Chevron. This unexpected move comes as they aim to develop fossil gas-powered plants. Founder Chris James emphasized that this is not a change in strategy but rather a focus on efficient capital allocation amid changing energy demands. The recent shift in the energy landscape reflects a broader slowing of progress in the US energy transition. Just four years ago, James was urging companies to accelerate their move away from oil and…

Engine No. 1, the hedge fund known for challenging ExxonMobil on climate strategies, is collaborating with Chevron to create fossil fuel plants. This partnership aims to address the increasing energy demands sparked by artificial intelligence. On Tuesday, Engine No. 1 announced a joint venture with Chevron and partnered with GE Vernova to fast-track the development of natural gas power plants. This move comes four years after Engine No. 1’s notable proxy battle against Exxon, where the fund argued that the company was at risk by relying heavily on fossil fuels. During the proxy fight, Engine No. 1 pointed out that…

Shell has taken the lead in the $1.4 billion global carbon credits market, with oil and gas companies cutting back on spending for clean energy initiatives. As a result, they are increasingly leaning on carbon offsets to meet their climate goals, more so than any other industry. Carbon credits are essentially a way to account for a tonne of CO₂ or other greenhouse gases that have been reduced or removed. Companies use them as an economical method to fulfill the climate commitments they made to their investors. Last year, major UK oil firms like Shell and BP reduced their investments…

Market Overview: Independent power producers saw a significant decline in their stock prices on Monday, coinciding with a widespread drop in technology and AI infrastructure stocks. Companies with large nuclear and gas generation assets in unregulated markets took the hardest hits. Notable declines included Vistra Corp., which dropped more than 28%, Talen Energy, which fell over 21%, and Constellation Energy, which also saw a decrease of more than 21%. This downturn followed the release of advanced AI models by the Chinese startup DeepSeek, which are said to have training costs up to 45 times lower than leading U.S. models from…

EsVolta, a developer of utility-scale energy storage, is making significant strides with three new battery storage projects in Texas, contributing a total of 490 MW/980 MWh to the state’s energy grid. The projects involve lithium-ion battery systems, including the 150 MW/300 MWh Desert Willow project located in Midlothian and the 100 MW/200 MWh Burksol project in Dickens County. Both are expected to begin operations this quarter, according to Randolph Mann, the president and CEO of esVolta. Additionally, a third project, the 240 MW/480 MWh Anole project in Seagoville, is set to launch in the following months, as shared by Mann…

India has raised alarms regarding China’s ambitious plan to construct a dam in Tibet, which is set to be three times larger than the current biggest dam in the world, the Three Gorges Dam. This significant hydropower initiative will be located on the lower stretches of the Yarlung Tsangpo river and is part of China’s broader strategy to boost the share of renewable energy in its power mix, aiming to elevate it from 28.8% in 2020 to 33% this year. Randhir Jaiswal, from India’s foreign ministry, expressed serious concerns over the project, highlighting the potential ecological disruptions and the neglect…

The United Arab Emirates (UAE) has made an ambitious leap in renewable energy, transitioning from modest solar ambitions to a massive initiative this month. At a key trade fair in Abu Dhabi, Masdar, the state-run renewable energy firm, unveiled plans to construct a $6 billion solar power plant with a staggering capacity of 5 gigawatts, complemented by over 19 gigawatt-hours of battery storage—marking it as the largest project of its kind. Expected to be operational in two years, this new solar plant will provide a stable output of 1 gigawatt, sufficient to power around 700,000 homes even during nights or…

Indonesia is joining the growing number of Southeast Asian nations entering the global carbon market by selling carbon credits tied to energy projects. The government hopes that this initiative will help finance its shift to greener energy sources as it capitalizes on an increased interest in global carbon trading spurred by a recent UN agreement. The UN pact established guidelines for a global market where countries and companies can trade credits representing reductions in carbon dioxide emissions. This framework is anticipated to enhance the market for voluntary carbon credits, which are not linked to mandatory emissions reductions. According to data…

Good morning! Today, we dive into some significant energy-related news. U.S. power stocks fell sharply recently as Chinese AI start-up DeepSeek raised concerns about the energy needs tied to artificial intelligence. Vistra, GE Vernova, and Constellation Energy were some of the biggest losers on the S&P 500, with their shares dropping over 20%. Investors had previously rushed to invest in power companies, anticipating a surge in energy demand fueled by AI. However, DeepSeek has demonstrated that it can deliver similar AI capabilities with lower energy usage and costs, prompting many to reassess their investments in AI infrastructure. While there is…