Energy And Natural Resources

Solar energy and grid storage saw some of the biggest funding rounds as falling prices put these clean energy options into the mainstream.

BP has significantly increased its capital allocation to its venture unit. Some 90% will go to energy transition, says head of unit Gareth Burns.

XGS is the third geothermal startup to raise cash this year, as the industry looks to overcome drilling costs and geography.

Statkraft has contributed to a series B round for Aira, which is tackling a heat pump market CEO Martin Lewerth believes can reach €150bn in size every year.

Oil and gas conglomerate Aramco Oil Company has injected an extra $4bn into Aramco Ventures to further push development in disruptive technologies.

Abhishek Shukla has been promoted from partner of enterprise, infrastructure and deep tech investments to managing director at Prosperity7 Ventures.

Husk Power Systems has just raised $100m from investors including Shell to build 1,500 solar mini-grids in India and Nigeria in the next four to five years.

Ten corporate investors were part of a $380m series C round this week, including Fortescue, United Airlines, Rio Tinto, Amazon, Microsoft and BP.

The US's $369bn climate legislation, the Inflation Reduction Act (IRA), promises to put the US at the forefront of the clean energy transition, but the act has its limitations.

Algae, alcohol and electrofuels all have potential for creating sustainable aviation fuel — but which ones are winning backing from industry?