Mercantile & Maritime

New Delhi is seeking $68bn in Japanese investment to accelerate gas projects, develop hydrogen and expand LNG import capacity amid increased openness to foreign capital.
Erex will end the environmental assessment of a 300MW biomass project developed with ENEOS in Niigata due to rising costs and a weaker yen.

Shell extends exchange premium after collecting $6.2bn in notes

Shell extends its early participation premium to all eligible holders after collecting over $6.2bn in validly tendered notes as part of its financial restructuring operation.
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Fincraft Group LLP, a major shareholder of Tethys Petroleum, submitted a non-binding proposal to acquire all remaining shares, offering a 106% premium over the September trading price.
Hyroad Energy expands its services to include maintenance, software, and spare parts, offering a comprehensive solution for hydrogen freight operators in the United States.

Erg Bio raises $6.5mn to accelerate synthetic fuel production in the United States

California-based start-up Erg Bio has closed a $6.5mn seed round to industrialise its Aspire™ technology, backed by Azolla Ventures, Chevron Technology Ventures, and Freeflow.
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Eos Energy confirmed the expiry of its public warrants following the exercise of 6.7 million units, generating $76.9mn to finance its industrial projects in the United States.
The construction site of the future photovoltaic park in La Couvertoirade plans to hire four people in job inclusion, as part of a partnership between VALOREM and the Union Départementale des Structures d’Insertion par l’Activité Économique de l’Aveyron.

Sub-Saharan Africa captures 2.3% of global renewable investment in 2024

The region attracted only a small share of global capital allocated to renewables in 2024, despite high energy needs and ambitious development goals, according to a report published in November.
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Abraxas Power Corp. has launched land reclamation operations for Solar City, a 100-megawatt floating solar project in the Maldives, following environmental approval. The total zone investment exceeds USD187mn.
After 23 years at ITC Holdings Corp., Chief Executive Officer Linda Apsey will retire in March 2026. She will be replaced by Krista Tanner, current President of the company, who will also join the Board of Directors.

ReGen III secures $3.975mn in sub-agreements under debenture exchange

ReGen III confirmed receipt of $3.975mn in sub-agreements tied to its convertible debenture exchange programme, involving over 97% of participating holders.
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Trina Storage and Pacific Green Energy Group have signed a memorandum of understanding for the supply of 5GWh of battery systems by 2028, reinforcing their activities in the Australian and international energy storage market.
Alfa Solar and Astronergy Europe are partnering to build an integrated solar wafer and cell facility with 2.5 GW capacity in Balıkesir’s organised industrial zone.

Enkraft increases pressure on ABO Energy amid contested sale process

Activist fund Enkraft demands governance guarantees as ABO Energy’s founding families prepare a change of control, under an open market listing and KGaA structure that offers limited protection to minority shareholders.
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As global oil prices slowed, China raised its crude stockpiles in October, taking advantage of a growing gap between imports, domestic production and refinery processing.
Kuwait Petroleum Corporation has signed a syndicated financing agreement worth KWD1.5bn ($4.89bn), marking the largest ever local-currency deal arranged by Kuwaiti banks.

CNPC launches power subsidiary to accelerate its energy strategy

China National Petroleum Corp has inaugurated a new electricity-focused entity in Beijing, marking a strategic step in the organisation of its new energy assets.
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A first vessel chartered by a Ukrainian trader delivered American liquefied gas to Lithuania, marking the opening of a new maritime supply route ahead of the winter season.
VSB France has commissioned the Eoliennes de Fadoumal wind farm in Lozère, a 13.8 MW facility located in a forested high-altitude area and equipped with a patented avifauna detection system.
Elogen will supply a 1 MW PEM electrolyser for a cogeneration plant operated by Veolia Energia Slovensko, in partnership with RoyalStav, near Žiar nad Hronom.
Researchers have designed a system that combines two ammonia production technologies to reduce costs, optimise industrial efficiency and significantly cut greenhouse gas emissions.

Utility launches its first H2Gen® hydrogen certification site outside the United States in Korea

U.S.-based Utility will build a hydrogen production and certification facility in Seongnam, using biogas, marking a strategic step for the expansion of its H2Gen® technology in the South Korean market.
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HTEC has inaugurated a clean hydrogen production facility in Burnaby, British Columbia, marking the launch of the province’s first commercial-scale electrolyzer, with a combined production capacity of 1.8 tonnes of clean hydrogen per day.
Buscando Resources officially becomes Element One Hydrogen and Critical Minerals Corp. and completes a C$1.03mn fundraising through a three-tranche private placement.

Elogen and Rockfin sign agreement to produce green hydrogen in Central Europe

The partnership includes local manufacturing in Poland of electrolysis systems using Elogen’s technology, with deliveries targeting the Europe, Middle East and Africa markets.
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Vema Hydrogen has been named a qualified supplier by the First Public Hydrogen Authority to deliver clean hydrogen at industrial scale to California’s public and private infrastructure.
Le groupe français HRS a signé une commande pour la livraison d'une station hydrogène haute capacité, renforçant sa présence dans un réseau en expansion à l’échelle européenne.

Enap reaches 72% completion on its green hydrogen plant in Cabo Negro

With a $14mn investment, Enap progresses on the construction of its first green hydrogen plant, expected to be operational in early 2026 in the Magallanes region of southern Chile.
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Plug completed the first delivery of 44.5 tonnes of hydrogen for the H2CAST project in Germany and secured a new contract for an additional 35 tonnes, confirming its logistical capabilities in the European market.
Gushine Electronics has opened a lithium battery plant in Vietnam, with an estimated annual production value of $100 mn, marking a new phase in the international deployment of its industrial capacities.

Anugrah Neo Energy targets $300mn IPO to expand battery-grade nickel output

Indonesian nickel producer Anugrah Neo Energy Materials plans a $300mn IPO in December to finance its growing battery materials operations.
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Sultan Qaboos University announces a breakthrough in water electrolysis using new rare-metal catalysts, improving production efficiency by more than 30%.
Standard Lithium a sécurisé $130mn via une émission d’actions ordinaires pour financer ses projets d’extraction de lithium en Arkansas et au Texas, consolidant sa position sur le marché nord-américain des métaux stratégiques.

Quinbrook takes majority stake in Elemental Clean Fuels in Canada

Asset manager Quinbrook expands its North American portfolio with a first Canadian investment by acquiring a strategic stake in developer Elemental Clean Fuels.
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Lhyfe commissions a 10 MW site in Schwäbisch Gmünd, its first in Germany, to supply RFNBO-certified green hydrogen to industrial and heavy mobility clients.
Brookfield will invest up to $5 billion in Bloom Energy's fuel cells to power future artificial intelligence factories, initiating the first phase of a dedicated global digital infrastructure strategy.

Metacon acquires assets from Hynion Sweden to boost hydrogen projects

Metacon acquired components from the bankruptcy estate of Hynion Sverige AB for SEK3.5mn ($320,000), aiming to support its hydrogen refuelling station projects in Sweden.
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The United Kingdom has carried out its first real-life trial of green hydrogen blending into the national gas transmission network, with power generation as a result.
Swedish company Liquid Wind has secured €3.6mn in public funding for the engineering phase of its eMethanol plant, integrated into a biomass-fuelled cogeneration site.