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Xpansiv has closed a $125 million capital raise to help fuel continued growth, the environmental markets platform announced on Wednesday, while confirming the completion of last year’s acquisition of emissions brokerage Evolution Markets.

Fast action in global gigafactory race is happening outside UK, as Swedish pacesetter shows

In a fantasy world, the would-be rescuer of Britishvolt would be a consortium that included a car manufacturer or two. The ailing startup would instantly get what it needs most after six months of crisis: endorsement for a battery product that is still in development, plus some , future customers.

At that point, the big political claims made about Britishvolt, its planned gigafactory in Northumberland and “the UK’s place at the helm of the global green industrial revolution”, as the former prime minister Boris Johnson put it a year ago, would start to sound more credible.

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EUAs climbed 1% on Wednesday after a late morning surge clawed back most of Tuesday's losses, as traders awaited the first UKA auction of the year and signs of potential EUA supply from British installations swapping their EU units for UK allowances.

Millions of residents faced flood warnings, almost 50,000 people were under evacuation orders, and more than 110,000 homes and businesses were without power after more than a foot and a half (45cm) of rain fell in southern California. Swollen rivers swamped homes in small communities, inundating them with water and mud and stranding residents. Footage shows entire neighbourhoods covered in water, with cars submerged and houses flooded

• Death toll in California storms hits 17 and ‘likely to grow’, says state’s governor

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Animal has been evading capture from Rochford fishing lake since mid-December

A seal trapped in a fishing lake has “found himself in a branch of Waitrose” and has no incentive to escape, according to an expert.

The animal has evaded multiple attempts at capture since first being spotted at Rochford Reservoir, in Essex, almost a month ago, the BBC reported.

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Campaigners say most sites cannot cope with amount of wastewater, raising risk of raw discharges into rivers

Investment into expanding sewage treatment works by Thames Water falls far short of what is needed to stop raw sewage discharges into rivers, according to campaign group.

Campaigners analysed 106 treatment works in the upper Thames area, which stretches from the Chilterns into the Cotswolds. A treatment works is where wastewater is stored and treated, before being released to the environment. The research suggested three-quarters of the works examined did not have enough capacity to cope with the amount of wastewater from the population. If a treatment works is over capacity, it increases the likelihood of raw sewage being released to the environment.

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Australian company partners with global digital energy platform provider to design a VPP platform tailored to everyone from utilities to residential customers.

The post Bid to bring virtual power plants to the masses kicks off in Australia appeared first on RenewEconomy.

Norwegian duo announces plans to use sustainable and recyclable materials in the construction of floating offshore wind turbines.

The post Novel floating wind turbine design to use recyclable aluminium appeared first on RenewEconomy.

South Korea sold just over 60% of the allowances on offer at Wednesday’s monthly carbon sale with the clearing price reaching a new low, as the current economic slump and allowance surplus continue to weigh on market sentiment.

With momentum building behind biodiversity crediting following a string of announcements at COP15 in December, market experts have highlighted the lessons to learn from carbon, their close links and key differences, and why there is no time to waste in devising the framework to scale the nascent nature-based market.

Seas dominate global weather patterns and the climate crisis is causing profound and damaging changes

The world’s oceans were the hottest ever recorded in 2022, demonstrating the profound and pervasive changes that human-caused emissions have made to the planet’s climate.

More than 90% of the excess heat trapped by greenhouse gas emissions is absorbed in the oceans. The records, starting in 1958, show an inexorable rise in ocean temperature, with an acceleration in warming after 1990.

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Several environmental groups have expressed concerns over the inadequacies of Taiwan's newly-passed climate bill, urging the government to clarify the details of an upcoming carbon levy scheme as soon as possible.

Australian billionaires had backed $30bn Sun Cable venture designed to help power Darwin, Indonesia and Singapore but the company has gone into voluntary administration

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Australian billionaires Mike Cannon-Brookes and Andrew Forrest have fallen out over plans to build a giant solar farm in the Northern Territory to supply Darwin, Indonesia and Singapore with power, with the venture entering voluntary administration.

Grok, the family investment arm of Cannon-Brookes, and the appointed administrators said in separate statements the company driving the project, Sun Cable, would continue to operate and seek new financial support.

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George Eustice says adapted kerosene boilers can run on ‘hydro-treated vegetable oil’ and cut emissions by 88%

A proposal to incentivise households in rural areas to run their heating systems on vegetable oil is to be put to parliament.

The former environment secretary George Eustice will introduce a bill proposing the removal of duties on renewable liquid heating fuels and incentives to replace kerosene in existing boilers.

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An Indonesian carbon project developer has secured a land agreement to turn a land concession in Papua into a REDD+ project that it says could generate the equivalent of 3.7 million VCUs per year.  

South Africa’s blue carbon ecosystems can be leveraged to help meet its NDC goals, the first ever blue carbon sink assessment completed for the country has found, despite the fact that mangroves, salt marshes, and seagrasses collectively account for only a limited share of the large African economy’s land area.

The spot price for Australian Carbon Credit Units (ACCUs) rose 2% Wednesday amid market expectations that the changes made to the Safeguard Mechanism will have a bullish impact on price, as the debate on the merits of the Labor government's proposal continues to rage.

Sun Cable enters voluntary administration amid hints of a falling out between the company's two biggest backers, Mike Cannon-Brookes and Andrew "Twiggy" Forrest.

The post World’s biggest solar and battery project hangs in balance as Sun Cable enters administration appeared first on RenewEconomy.

Oceans of Energy gets ‘Approval in Principle’ from testing, inspection, and certification outfit for its ground-breaking offshore solar technology.

The post Open ocean offshore floating solar technology gets key tick of approval appeared first on RenewEconomy.

South Australia continues its record-breaking run on renewables with solar and wind hitting new monthly and quarterly highs for their share in electricity demand.

The post South Australia hits stunning new high in race to renewables-only grid appeared first on RenewEconomy.