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Volvo Cars’ battery company Novo Energy said on Monday it will cut its workforce by 50% to reduce costs after evaluating its business to take account of the bankruptcy of Sweden’s Northvolt, which originally co-owned the venture.“Despite our best efforts to secure our business and an extensive ongoing search for a suitable new technology partner, the current economic challenges and market conditions have made it impossible to maintain our operations at the current scale,” Novo Energy CEO Adrian Clarke said in a statement.Northvolt and Volvo Cars formed Novo Energy in 2021 to build a dedicated battery factory…

The minigrids, and individual solar-plus-storage systems, form part of a Rural Electrification Access Program planned by the Inter-American Development Bank (IDB). The IDB has approved a $250 million loan to increase electricity coverage in rural Guatemala. A planned program will include the development of renewables-plus-storage minigrids. The 25-year loan, which includes a five-and-a-half-year grace period when repayments can be paused, has a variable interest rate based on the Secured Overnight Financing Rate issued daily by the Federal Reserve Bank of New York. The Rural Electrification Access Program approved by the IDB board, under the organization’s Multiple Works Program Loan facility,…

Elli will present the new generation of its battery-integrated DC charging system at this year’s Power2Drive in Munich. The Volkswagen Group’s charging subsidiary also announced a new strategic cooperation with Uniti, the German association for medium-sized fuel retailers. Known as the Flexpole Plus, the updated model maintains a 150 kW charging capacity without requiring grid upgrades and introduces several technical improvements aimed at simplifying deployment and enhancing compatibility. Elli has yet to disclose battery capacity details for the Flexpole Plus. The first-generation model offered a 193.5 kWh (160 kWh usable) buffer battery and featured two CCS connectors with a total capacity of 250 kW…

WASHINGTON — The Department of Energy (DOE) today announced it has delayed the compliance date for new provisions regarding Clean Energy for New Federal Buildings and Major Renovations of Federal Buildings (CER). This action delays the restrictive standards imposed by the previous administration to limit the use of affordable, reliable energy sources, such as coal and natural gas, to power federal buildings in favor of less reliable, more expensive options.”Under President Trump’s leadership, the Department of Energy is embracing a strategy of energy addition – leveraging all sources that are affordable, reliable and secure. This pause will ensure that our federal…

ADS-TEC Energy has raised growth capital of up to 50 million US dollars from institutional investors. The charging specialist from Nürtingen states that it intends to use the money to expand its business in Europe and North America. ADS-TEC will receive the funds in the form of a convertible bond maturing in 2028, which will be provided in two tranches of USD 15 million and USD 35 million. The company does not provide any further details about the investors. The company intends to use the fresh capital to transform itself into a full-service provider that not only offers ultra-fast charging…

Trusted by FT 500 Companies and Governments Worldwide CSE Announces its 2025 World Sustainability Leadership Forum at NYC’s One World Trade Center The Center for Sustainability and Excellence (CSE) proudly celebrates 20 years of global leadership and innovation in sustainability education and consulting, marking two decades of empowering some of the world’s most influential organizations—from FT 500 corporations to government entities across the US, Canada, Europe, and the GCC region. As a recognized pioneer in corporate sustainability and ESG strategy, CSE has equipped thousands of executives and institutions with the knowledge and tools to lead impactful, measurable change. From multinational…

Golar LNG has reached final investment decision (FID) for the 20-year re-deployment charter of the FLNG Hilli Episeyo (FLNG Hilli), first announced on July 5, 2024. The vessel will be chartered to Southern Energy S.A. (SESA), offshore Argentina, to monetize gas from the Vaca Muerta shale formation. Vaca Muerta is the world’s second largest shale resource. In addition, Golar and SESA have signed definitive agreements for a 20-year charter for the MKII FLNG, currently under conversion at CIMC Raffles shipyard in Yantai, China. The MKII FLNG charter remains subject to FID and the same regulatory approvals as granted…

In his opening keynote, Ken Chadwick, Vice President and Distinguished Advisor at Gartner, tackled one of the biggest challenges facing supply chain leaders today: making decisions in a world defined by divergence. From AI disruption to geopolitical uncertainty, Chadwick laid out a roadmap for how supply chains can turn complexity into competitive advantage. 1. Divergence Is the New Normal, and It’s Not Temporary What’s RelatedChadwick opened with a sobering message: the disruptions we’re facing are no longer short-term or cyclical.  Whether it’s AI hype vs. real adoption, global growth vs. stagnation, or open trade vs. fragmented blocks, business leaders must…

Bill Gates at The 11th Breakthrough Prize Ceremony held at Barker Hanger on April 05, 2025 in Santa Monica, California. (Photo by Gilbert Flores/Variety via Getty Images)Gilbert Flores | Variety | Getty ImagesSINGAPORE — Rich countries “owe it to the world” to get themselves down to net zero emissions, according to Microsoft founder Bill Gates.Gates, who is also chairman of the non-profit Gates Foundation, was speaking at the opening dinner of Ecosperity in Singapore on Monday, the flagship sustainability event for state investor Temasek. In a fireside chat with Singapore’s Ambassador for Climate Action Ravi Menon, Gates said that rich countries…

Stay informed with free updatesSimply sign up to the EU energy myFT Digest — delivered directly to your inbox.The European Commission will set a 2027 deadline for EU companies to sever any remaining energy contracts with Russia and shift to other sources including the US, according to officials.The plan, to be announced on Tuesday, has been closely guarded ahead of publication by senior EU officials wary of its likely impact on the energy market. It marks an intensification of the bloc’s efforts to wean itself off Russian fossil fuels since Moscow’s full-scale invasion of Ukraine in 2022. While Russian oil…