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The paragraphs below may be of interest here - enjoy.
s3.5 Climate, environmental and biodiversity protection
Climate action will therefore be a focus of our bilateral cooperation. The Federal Government wants to use the new high-level Climate and Transformation Dialogue to cooperate in a tangible and results-oriented manner to accelerate the green transformation. We want in this regard to concentrate on improving the conditions and policy instruments required to this end. Our common objective is to make industrial processes more environmentally friendly, to accelerate the energy transition, to facilitate the transition to environmentally friendly mobility and to strengthen the circular economy. Overall, the aim is to considerably reduce CO2 emissions.
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According to the International Renewable Energy Agency (IRENA), China had installed almost half of the world’s generation capacity in the area of renewable energies in 2022. China is playing a leading role in many green technologies. At the same time, the country requires green technologies, including those made by German companies, to achieve its own climate targets; we are committed to further market liberalisation and to a level playing field in China, also with a view to improving the conditions for supplying advanced climate technologies produced by German companies to China.
...
Climate and environmental protection are sustainable and achieve greater acceptance when stakeholders on both sides from the business and research communities as well as from civil society are closely involved. This is why the Federal Government is involving these stakeholders in the Climate and Transformation Dialogue as well as in other bilateral cooperation formats. It is also supporting the Sino-German Track II Dialogue on Climate Change and Sustainable Development and continuing the Sino-German Environmental Forum.
Our dialogues are a component of EU-China cooperation on climate action. We are calling for the High-Level Environment and Climate Dialogue between the EU and China to be strengthened and for it to lead to concrete and
ambitious results.
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China is considered a developing country in the United Nations Framework Convention on Climate Change (UNFCCC). We expect the world’s second-largest economy to contribute to climate action in accordance with its means and responsibility, as agreed in the Paris Agreement and elsewhere. The Federal Government is calling for credible multilateral commitment on China’s part and is offering to cooperate in multilateral processes.
The main priority is the need to persuade China to pursue more ambitious targets in reducing its greenhouse gas emissions. China has committed to ensuring that its CO2 emissions peak before 2030 and that it will achieve carbon neutrality before 2060. This is not sufficient for keeping to the 1.5 °C limit; a further scaling up of China’s climate change targets is what is actually needed.
Https://www.youtube.com/watch?v=M0sfbLy7w80
https://macrobertaward.raeng.org.uk/
Worth having a look at past winners; a quality award well deserved.
Positive RNS followed by buying opportunity - that doesn't happen often! And... the RNS stated the results are still expected to be positive and still expected any time from now because we are in Q3!
For interest. Referring to the Transatlantic Declaration dated 8 June between UK and USA, Section 1.6 5. Strengthening our Alliance Across Defence, Health Security, and Space:
**Strengthening bilateral cooperation on biological and health security.**
Building on the New Atlantic Charter, we commit to strengthening bilateral collaboration between our two nations on biological security, reflecting our shared ambition to bolster future heath and economic resilience against a growing and diverse spectrum of biological threats (deliberate, accidental, or natural), including drug-resistant infections. To this end, we will increase our collaboration to overcome the market failures that prevent vital research and development of anti-microbial vaccines, therapeutics, and diagnostics – via mechanisms such as the Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator (CARB-X). We will enhance our cooperation on tackling emerging infectious disease threats with pandemic or epidemic potential and promote biosafety, biosecurity, and responsible innovation in the biotechnology and life science sectors domestically and internationally to realise the full potential of the growing bioeconomy. We reaffirm our commitment to strengthen global norms against the misuse of biology and prohibitions on the development of biological weapons.
Source: https://www.gov.uk/government/publications/the-atlantic-declaration/the-atlantic-declaration
Any thoughts?
Referring to the Transatlantic Declaration dated 8 June between UK and USA, Section 1.5 4. Building the Clean Energy Economy of the Future:
**Launching negotiations on a Critical Minerals Agreement.**
With congressional consultation, we intend to immediately begin negotiations on a targeted critical minerals agreement covering the five relevant critical minerals most important for electric vehicles – cobalt, graphite, lithium, manganese, and nickel – that are extracted or processed in the United Kingdom count toward sourcing requirements for clean vehicles eligible for the Section 30D clean vehicle tax credit of the Inflation Reduction Act. We intend to use these focused negotiations to ensure the consistency of our approaches on supply chain diversification and robust labour and environmental standards to support the creation of well-paying jobs with a free and fair choice to join a labour union on both sides of the Atlantic. Through our strong U.S.-UK partnership we will work towards increasing our respective and collective clean energy industrial capacity, boosting electric vehicle production and deployment, and expanding access to sustainable, secure, high-standard critical mineral and battery supply chains.
Source: https://www.gov.uk/government/publications/the-atlantic-declaration/the-atlantic-declaration
Any thoughts?
I am looking forward to the Ceres technology teach-in on Friday aimed at analysts and institutional investors. I'm not sure that significant new investment would flow before Friday - but happy to be corrected if anyone thinks I've missed the point in having the teach-in for analysts and potential institutional investors.
For interest - ITM CEO Dennis Schulz is a speaker at the FT Hydrogen Summit on 15 Jun 2023:
https://hydrogen.live.ft.com/agenda/speakers/2955295
List of attendees:
https://hydrogen.live.ft.com/page/2804768/attendee-list
In the last month Bosch uploaded a YouTube about PEM and SOFC. There have been other useful clips uploaded over the last 6-months. Link to the Bosch channel below. I hope that is useful.
https://www.youtube.com/@bosch_hydrogen_energy
Positive news. Late last year Ceres announced the JV would be delayed. This created questions about whether main market listing would be pushed back. Earlier this year Ceres (I believe in response to those questions) announced that main market listing would no longer fall after the JV and would be pursued in June. It is positive to me that they are delivering on a move to the main market.
In respect of the JV, it could as some have suggested, happen this month. However the guidance is 2023, with all parties committed. I have not seen evidence that the parties are any less committed. I have seen some comments about geopolitical risks affecting the JV. While geopolitics pose a non-zero risk, I believe the risk to be low because senior figures have confirmed that business related to climate change should not be caught up in the de-risk/decoupling exercises that are very real and ongoing.
Looks like a BEAT on Revenue of £2m and Net cash at the year-end of £253m. The consensus view of Adjusted EBITDA loss of £90m appears to be a miss, falling in the range 90 - 95m.
I think this is a positive RNS. I have faith in Dennis Schulz. Does anyone else have an opinion?
RNS dated 28 Mar 2023 stated:
"Testing of various lithium brines is planned, subject to applicable laws, during Q2 2023"
The Innovation News Network article stated:
"The customer’s large sample feed liquid needs to be sent to our facility for testing in our commercial pilot plant that is currently being constructed and anticipated to be finalised by June 2023 in Austin, Texas."
The above two statements appear compatible to me. It would be clearer English when stating "by", to give a precise date instead of a month, but as June is within Q2, it seems reasonable to expect an update before between 1 - 30 June 2023.
Comments welcome.
9 Feb 2022 RNS stated "...the SECOND manufacturing facility for Bosch...". I could not trace reference to a third facility in subsequent RNS - but happy to be corrected. RNS quoted below:
The addition of Bosch to the existing Weichai and Ceres partnership, and an increase in scope to include stationary power applications, significantly strengthens the planned joint venture. It is now intended that two separate Joint Ventures ("JVs") will be formed in Shandong Province, specifically:
· A three-way system JV ("System JV") will be set up for the development and manufacture of solid oxide fuel cell (SOFC) systems. Bosch and Ceres will licence their respective SOFC system IP to the JV for mobile and stationary applications in China and will share royalties from the sale of products. Weichai will be the majority shareholder. Ceres will hold a maximum 10% share with Board representation. Its investment over time is likely to be around £20 million, to be finalised in the detailed agreements.
· Separately, a stack manufacturing JV ("Stack JV") will be established to supply fuel cell stacks to the system JV and potentially other third parties. The Stack JV would be the second manufacturing facility for Bosch and is planned to follow its initial 200MW facility in Germany, where start of production is anticipated for 2024. Bosch and Weichai intend to form the JV with Bosch as the majority shareholder. Ceres will not be a shareholder in this JV but will provide the SOFC technology through an extension of Bosch's existing manufacturing licence to supply the Chinese market. Ceres will receive royalties from this JV on the sale of stacks.
License fees of £30 million from the System JV and Stack JV to Ceres are expected over the next three years in line with those agreed in the original Weichai-Ceres agreement in 2018, with minimum payments and annual royalties receivable following start of production from each of the JVs. Detailed agreements are now being prepared, with the JVs intended to be formed following the signing of definitive contracts.
EnergyX is listed by Next-ChemX as a competitor in DLE (https://www.next-chemx.com/technology/).
In May 2022 EnergyX announced it had shipped 3 containerised pilot plants to Bolivia that would use DLE tech licensed from the University of Texas (https://energyx.com/app/uploads/2022/05/EnergyX-PR-Dec-21_Pilot-Plants.docx-5.pdf).
On 13 Apr 2023 EnergyX announced it had raised $50 million with the assistance of General Motors
https://www.electrive.com/2023/04/13/general-motors-invests-in-lithium-mining-company-energyx/
Thanks for the link to the Government seminar (link 4-posts below). 80,000 tonnes of Lithium Carbonate required by 2030. 20% of this requirement could be achieved from recycled batteries. 5 giga factories required by 2030. The industry requires 25% capex support from the UK Gov to match subsidies available in the US and EU. The industry gave a strong message that the entire supply chain needs to be built in the UK. I recommend anyone with Lithium interests (not just TM1) to watch.
@Henrygobaker: The article you posted is dated 9 Feb 2022.
To find the date of an article copy a unique part of the title, then search for that heading text in the media index at https://www.ceres.tech/media/
Good morning, I did not see a reference on this board to a breakfast meeting between Chairman Bosch and Weichai last week. Link shared for interest.
http://shandong.chinadaily.com.cn/2023-04/20/c_879447.htm