NextEra Energy
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Samsung SDI to ink $726 mn ESS deal with NextEra Energy
Samsung SDI Co., the world’s sixth-largest electric vehicle cell maker, is set to provide batteries for energy storage systems (ESS) to NextEra Energy Inc., a major US clean energy company, in a 1 trillion won ($726 million) deal.
The South Korean battery maker is expected to secure recovery momentum in the ESS market amid sustained weakness in the EV sector on sluggish demand while aiming to bite into the market share of major Chinese players hurt by the US government’s policies to rein in their expansion. Samsung SDI is in final talks with NextEra Energy to supply 6.3 gigawatt hours (GWh) of ESS batteries, about 11.5% of the total ESG capacity of 55 GWh in North America last year.
EVOLOH Secures $20M to Transform Electrolyzer Manufacturing and Make Low-Carbon Hydrogen Globally Accessible
EVOLOH, Inc., a cleantech company that manufactures electrolyzer stacks for hydrogen production, announced it has raised an oversubscribed $20 million Series A round led by Engine Ventures. Additional participating investors include a subsidiary of NextEra Energy Resources and 3M Ventures. The capital will be used to expand the company’s scalable, high-throughput manufacturing technology and introduce additional capabilities for its NautilusTM platform of advanced liquid alkaline electrolyzers.
EVOLOH is making low-carbon hydrogen globally accessible by revolutionizing the manufacturing of electrolyzers. While incumbent electrolyzers are notoriously expensive and difficult to produce, transport and install, and rely on politically and environmentally challenging supply chains, EVOLOH’s manufacturing facility will offer an 80% reduction in capital investment and footprint.
Electrolyzer stacks, the core component of electrolyzers, are offered via EVOLOH’s NautilusTM platform and made from abundant materials like steel, plastic and aluminum and do not require precious metals or rare earth materials. To reduce the CAPEX and OPEX of hydrogen plants using EVOLOH’s Advanced Liquid Alkaline technology, the NautilusTM stacks use low-cost power electronics and do not require corrosive electrolytes. EVOLOH’s NautilusTM stacks are very compact, and can be built into modules of 24 megawatts, making them ideal for large industrial applications.