NEWS COMMENTARY

Neste invests in Sunfire for high-temperature electrolysis

Published:
March 10, 2020
Coverage:
Owning the Energy Transition
Activities:
Investment
Very important

Neste acquired a minority stake in Sunfire and will deploy high-temperature electrolysis for renewable hydrogen at one of its refineries. This is Sunfire's second partnership with an oil and gas major but Neste's first foray into electrochemistry. Just like its partnership with ReNewELP for co-processing syncrude oil from plastic, it appears Neste plans to use Sunfire's technology to decarbonize its oil and gas operations while still retaining use of its existing assets – this is a smart move, as electrolysis is a bridge technology between the renewable power and fuels sectors. Total and Shell are also launching similar projects – we expect to see even more in the coming year as oil and gas majors work toward carbon neutrality. 

For the original news article, click here .


Further Reading

Total sparks new deal with EDP to acquire natural gas assets in Spain for €515 million

News Commentary | June 24, 2020

Following Total's entry into Spain's solar market earlier this year, the French oil major has entered an agreement with EDP to acquire 2.5 million customers as well as two gas‑fired combined‑cycle power plants in Spain, representing nearly 850 MW in power generation capacity. As the company ... Not part of subscription

Reliance Industries targets net-zero emissions by 2035; aims to develop full-stack synthetic fuels technology

News Commentary | July 23, 2020

In what could be one of the greatest corporate evolutions in recent history, Reliance is now directing the same energy responsible for its Jio success toward its oil and gas business. In 2018, it completed a $16 billion expansion at the world's largest refinery to expand its crude‑to‑chemicals ... Not part of subscription

Shell revises net-zero emissions target; plans annual €4 billion divestments of current assets and €3 billion investments in new energies

News Commentary | February 11, 2021

While Shell was one of the last European oil majors to announce a net‑zero target, the company's revised milestones are not surprising. Shell has made significant changes due to COVID, announcing plans to write off €20 billion of its oil and gas assets, and has consistently invested in chemicals, ... Not part of subscription