Governments all over the world are pushing for a greener future. In fact, the U.S. just promised to cut emissions by up to 52%. Europe says it’ll cut emission by up to 55%. China says it will stop releasing CO2 in the next 40 years. In addition, just this week, the Biden Administration announced new actions to reduce greenhouse gas emissions from the industrial sector, which includes the production of steel, aluminum, chemicals, and concrete, which contributes to nearly a quarter of U.S. emissions. Cutting emissions and new actions to reduce emissions from industrials are positive catalysts for Progressive Planet (TSXV: PLAN) (OTCQB: ASHXF), First Solar (NASDAQ: FSLR), Enphase Energy (NASDAQ: ENPH), Stem Inc. (NYSE: STEM), and Bloom Energy (NYSE: BE).
Even better, according to The White House, “The General Services Administration (GSA), Department of Transportation’s Federal Highway Administration, and the Environmental Protection Agency are collaborating and incorporating stakeholder feedback to establish criteria for the procurement of substantially low carbon steel, concrete, asphalt, and flat glass for Inflation Reduction Act-funded projects.”
Look at Progressive Planet (TSXV: PLAN) (OTCQB: ASHXF), For Example
Progressive Planet, which creates CleanTech innovations from its C-Quester™ Centre of Sustainable Innovation, has reached an agreement with Recycle BC for a steady supply of post-consumer glass for the manufacture of a new ingredient to dramatically reduce CO2 emissions from cement.
The recycled glass will be used to make PozGlass 100G at Progressive Planet’s PozGlass Pilot Plant, which will begin construction in 2023. PozGlass is a replacement for Portland cement and fly ash from coal plants, which are now used in concrete and release large amounts of CO2 in the manufacturing process. The cement industry currently emits more than 8 percent of global CO2. When PozGlass is used at a cement plant, it is expected to dramatically reduce emissions by sequestering CO2 and being mixed with Portland cement at up to a 50% ratio.
“This initiative aligns with our organization’s vision to inspire and accelerate innovation in recycling technology,” says Sam Baker, Western Canada Director - Post Collection and Material Regeneration at Recycle BC.
Added Ian Grant, the COO of Progressive Planet: “Our objective is to help the cement industry reduce its carbon footprint. We have developed PozGlass, here in British Columbia, to reduce the use of carbon emitting ingredients of cement and sequester CO2 stack emissions created in the cement manufacturing process.”
Recycle BC is a not-for-profit organization responsible for residential packaging and paper product recycling throughout British Columbia, servicing over two million households or over 99% of BC through curbside, multi-family and/or depot services.
“In support of this project, Recycle BC is happy to approve Progressive Planet’s Pilot Plant facility as an end market for our program’s glass, assuming they meet and continue to adhere to Recycle BC’s standards for end markets,” said Baker.
By manufacturing PozGlass at its Kamloops pilot plant, Progressive Planet will also be able to reduce the current carbon footprint of its operations, which create widely sold CleanTech products for agriculture, soil regeneration and animal care.
“Progressive Planet operates one of the largest, natural gas fired, industrial mineral dryers in Canada,” added Grant. “By receiving this steady and reliable supply of recycled glass from Recycle BC, to make PozGlass at our Kamloops headquarters, Progressive Planet will also now be able to sequester CO2 it currently emits, meaning we will contribute to British Columbia’s and Canada’s GHG reduction targets and improve the carbon footprint of our home, Kamloops, B.C.”
PozGlass sequesters CO2 when the recycled wastewater used in treating post-consumer glass is injected with stack emissions. The CO2 is captured in a sodium carbonate compound, meaning it is never released into the atmosphere.
The PozGlass pilot plant is expected to begin construction in 2023 and be operational in 2024.
Once the PozGlass production process is proven out at this scale, Progressive Planet plans to find industry partners to finance and build other plants at industrial scale in various locations.
Other related developments from around the markets include:
First Solar announced financial results for the fourth quarter and year ended December 31, 2022. Net sales for the fourth quarter were $1.0 billion, an increase of $0.4 billion from the prior quarter. The increase was primarily a result of increased module sales and the sale of our Luz del Norte project in Chile in the fourth quarter. The Company reported a fourth quarter net loss per diluted share of $0.07 and full year net loss per diluted share of $0.41. “We finished 2022 with a record contracted backlog, a significant pipeline of bookings opportunities, and a strong balance sheet placing us in a position to respond to emerging opportunities,” said Mark Widmar, CEO of First Solar. “This momentum is driven by our points of differentiation, including our unique CdTe technology, vertically integrated manufacturing process, domestic production, and commitment to Responsible Solar. We enter this year in a significantly stronger commercial, operational, and financial position, with increased R&D investment, new domestic and international capacity coming online, and a new Series 7 product.”
Enphase Energy, a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced that installers of Enphase® products in Illinois have seen growing deployments of Enphase Energy Systems™ powered by IQ8™ Microinverters. According to the U.S. Solar Market Insight report from Wood Mackenzie and the Solar Energy Industries Association, residential solar deployments in Illinois are forecasted to reach approximately 132 MW in 2023, representing a 13 percent increase from the previous year. Additionally, residential battery deployments in Illinois are expected to grow over five-fold by 2026, according to the most recent U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie.
Stem Inc., a global leader in artificial intelligence (AI)-driven energy solutions and services, announced its financial results for the three and 12 months ended December 31, 2022. Reported results reflect AlsoEnergy’s operations from February 1, 2022 through December 31, 2022. John Carrington, Chief Executive Officer of Stem, commented, “We executed well in 2022, with record performance across multiple metrics including revenue, storage AUM, contracted backlog, and CARR. We delivered these strong results while effectively managing several headwinds that faced the wider industry, including supply chain volatility, interconnection and permitting delays, cost inflation, and import restrictions, which is a testament to our exceptional employees.
Bloom Energy released its newest application to further enhance the efficiency of its Bloom Energy Server™ to serve customers in markets facing growing energy demand but constrained power grids and ambitious climate goals. The Bloom platform can now be ordered by customers with the compatibility to support Combined Heat and Power (CHP), increasing system efficiency and improving economics. “Compared to older technologies including combustion engines, the Bloom Energy Server has one of the highest electrical efficiencies in the industry. By adding Heat Capture, the system efficiency is currently in the mid-80% range, with the potential roadmap that can increase the CHP efficiency to 90%,” said Ravi Prasher, Chief Technology Officer, Bloom Energy. “This is another example of our ongoing investment in research and development to provide low-carbon energy solutions.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Progressive Planet by Progressive Planet. We own ZERO shares of Progressive Planet. Please click here for full disclaimer.
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