Fixing The Grid
Energy Terminal Weekly Newsletter
March 28th 2023 | Issue #45 | Subscribe here
Happy Tuesday!
Welcome back to ET weekly, Energy Terminal's weekly newsletter where we cover trends, opportunities, events and updates across the energy industry.
In this issue:
💲Private Equity Intern Opportunity
🚩 Europe's LNG Capacity Mistake
💥 Biofuels vs. EVs
📈 Electrifying Industrial Heat
📎 Paper-thin Steel
🚨 Top 3 Energy Jobs 🚨
1) 8 Rivers, Marketing Intern
• 8 Rivers is a Durham, NC firm focused on the invention, development, and commercialization of sustainable, infrastructure-scale solutions to global problems through impactful technologies. The intern will work with marketing, strategy, and communications teams to develop engaging content and marketing strategy.
2) Vauban Infrastructure Partners, Private Equity Intern
• Vauban Infrastructure Partners is an asset management company that invests in sustainable development of local communities and their environments. The intern will help execute infrastructure investments and manage their growing portfolio companies and assets.
To apply, email Brian Xu at brian.xu-ext@vauban-ip.com
3) WeaveGrid, MBA Intern - Strategy
• WeaveGrid drives rapid decarbonization in the global transport and power sectors by creating intelligent software to connect EVs to the grid. The MBA intern will organize and execute strategic initiatives, communicate with internal and external stakeholders, and assist in business planning.
📣 Episode 25
We see it all the time: millions for emerging startups and successful fundraising rounds. In this episode, we go behind the headlines to uncover the gaps in energy financing and how we can address these gaps to speed the energy transition.
Joining us on the show is Hilary Vogelbaum, Senior Analyst at S2G Ventures and MIT Engineering grad. Hilary has given two TED Talks on how we can break down barriers to more effectively tackle climate change and the energy transition as well as how people with non-traditional backgrounds can make an impact. In the episode, we talk about the concept of “radical inclusion” to bring together diverse perspectives, how she got started with a career in energy venture capital, and the opportunities she sees for startups and investors to take advantage of funding gaps.
📚 Reading List
The future of the US grid? The renaissance of biofuels? Check out this week’s handpicked reading list to learn more about these groundbreaking energy topics 🔥
🎙️Podcasts:
Columbia Energy Exchange, Connecting the US Grid: Transmission Developers Make Headway
The episode features, Michael Skelly, CEO of Grid United, a private transmission development company
As we develop more renewable energy, long-distance transmission is critical to connect energy from the generation point to consumers
High regulation and long project timelines make transmission very challenging and expensive to build
Private transmission developers are taking on the task of interstate transmission and aiding public efforts to do so
Switched On, Biofuels and EV Charging in Carbon Credit Tussle
There has recently been a renaissance for biofuels with the growth of new biofuels like renewable diesel
Renewable diesel is chemically similar to traditional diesel, so unlike tradition biofuels like biodiesel that need to be blended with traditional fuels, renewable diesel has the potential to grow far beyond the blend rate
70% of sales of vehicles going out to 2030 will be electric
As EV adoption increases, EVs will become competitive against biofuels
And, the carbon credit schemes that are being largely adopted will greatly reward EVs, eating into biofuels’ market share
The long-term future of biofuels is quite grim
Volts, Why electrifying industrial heat is such a big deal
Half of global final energy consumption comes in the form of heat, not electricity, which means that heat is integral to reaching net zero carbon emissions
¼ of all energy humans use is found in high temperature industrial processes (e.g. manufacturing dog food or making steel), and most of the industrial heat used is from fossil fuels because renewables have been historically too expensive
Recently, thermal batteries have been developed as a way to store clean electricity as heat in materials such as sand or graphite until it’s needed
This episode covers a specific example of this: a battery that stores heat in bricks
📰️ Articles:
CNBC, Europe’s rush to LNG could turn into ‘world’s most expensive and unnecessary insurance policy'
Institute for Energy Economics and Financial Analysis (IEEFA), a US based think tank, believes the EU is purchasing way more LNG than demand may call for
Mismatch could mean up to 250 bcm of unused LNG capacity by 2030, equivalent to about half of EU’s gas demand in 2021
Increase in LNG capacity may also lead to stranded assets, especially in the UK, Turkey and Spain
There are also environmental concerns surrounding the decision to increase LNG capacity
The Hill, Six months in, the IRA is already unleashing clean energy’s potential
Since the IRA was enacted, private companies have deployed $64 billion across 130 clean energy projects, creating 53,000 jobs
Projects include renewables, batteries, heat pumps, clean steel, and much more
By 2030, the IRA is expected to result in nearly $1.7 trillion of investment in the energy transition and 1.5 million new jobs
Wall Street Journal, The Paper-Thin Steel Needed to Power Electric Cars is in Short Supply
Paper-thin steel, in high demand due to increased EV interest, is in short supply and has long lead times (about 50-52 weeks)
Metals Technology Consulting Inc. predicts that demand for electrical steel globally to reach 2.8 million metric tons by 2027, which is 300,000 metric tons more than supply, unless production capacity is added
Cleveland-Cliffs is the largest U.S. steel supplier to the U.S. automotive industry and is restarting an idle electrical-steel rolling line in Ohio to produce additional steel for automotives
⏰ Missed Episode 24?
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