Asia

Hyundai introduce a hydrogen-powered heavy duty truck

It is thought that hydrogen-powered vehicles could be an optional extra of an electric vehicle for heavy work such as towing but where they really come into force is as a heavy duty electric vehicle. Using an electric motor driven by a fuel cell powered by renewable hydrogen will be greenhouse emissions free. Refuelling is quick, the range is large but most importantly hydrogen provides a powerful fuel for heavy duty trucks, trains, planes and ships.

At the North American Commercial Vehicle Show, Hyundai unveiled the HDC-6 NEPTUNE, a hydrogen-powered Class 8 heavy duty truck, and also announced the launch of its new clean energy refrigerated concept trailer, the HT Nitro ThermoTech.

Labelled as “optimal” for transporting cold chain products, the HT Nitro ThermoTech is able to reduce temperatures faster than traditional refrigeration units and maintain precise temperature without being affected by outside temperatures. It reduces pollutants and emissions while providing reliable and effective cold chain food transportation without affecting the truck’s power supply.

Hyundais introduction of hydrogen powered heavy transports provide a glimpse into the future of transportation around the world.

“We are willing to work with other partners to pave the way to establish a hydrogen ecosystem for CV.” said  Edward Lee, Head of Hyundai Commercial Vehicle Business Division.

GREEN STEEL: Liberty Steel will be carbon neutral by 2030

Under the name of Liberty Steel, mining, metals, and energy giant GFG Alliance is to re-organise its steel businesses to become "the world's first carbon neutral steel company" by 2030. Sanjeev Gupta, executive chairman at the family owned multinational, announced the move at the World Steel Dynamics' European Conference in Milan.

 

Sanjeev Gupta confirmed in an interview that the reorganisation was designed to ensure the new business is ready for a potential IPO in the future - an approach he intends to replicate for all the conglomerate's businesses.

 

"Whether it's the steel, aluminium or energy companies... all the companies will be made ready in terms of governance, reporting and transparency, so they'll be ready in every way to go for a listing as and when they want to," he said.

 

The new company organisation will be incorporated by the end of this year and is expected to employ 30,000 people in 10 countries.

 

Over the past few years the company has established renewable energy projects, invested in electric arc furnaces to produce recycled steel, and explored the use of hydrogen and carbon capture and storage technologies in the steel manufacturing process. The accompanying commitment to ensure the business is 'carbon neutral' within a decade is central to the new strategy.

 

Steel from recycled scrap using fossil fuel based energy already generates less than a third of the CO2 emissions compared with primary steel making and that savings can be further maximised through the use of renewable power. However, Gupta argue it is critical the steel industry now pursues full carbon neutrality.

 

"We are creating a new force in steel with the size, scale and agility to forge a path towards a sustainable future for our steel businesses and the communities in which we operate," he said confident that carbon neutral steel was possible. "Technically it's already been proven, you can make steel with hydrogen, the only question is the economic viability," he said.

 

He added that there is a moral obligation for the steel industry to tackles its emissions.

 

"As a responsible business, the legacy we pass on to future generations is every bit as important as our bottom line," he say. "Liberty Steel aims not just to produce top quality steel but to be an agent of change in the industry. In doing so, we can open the door to the re-industrialisation of the developed world by reviving and restoring often neglected industry."

 

The move was welcomed by Fautine Delasalle, director of the Energy Transitions Commission.

"I am delighted to see pioneering companies like Liberty Group turn vision into practice as there is high demand for zero carbon steel products today."" Delasalle said.

China passes law allowing regions to set resource taxes

SHANGHAI/SINGAPORE - Chinese legislators approved a new law on Monday that will give local governments authority to tax as many as 164 different resources, including fossil fuels, minerals and eventually water, the Ministry of Finance said on Monday. The National People’s Congress, China’s parliament, approved the new resource tax law on Monday and it will go into effect in September next year, the ministry said in a briefing.
Officials insisted it will not raise the overall tax burden on local firms.

 Source: Reuters

Shell closes in on takeover deal for Australian energy supplier ERM Power

Oil giant makes first foray into Australia's competitive power market as it continues drive into consumer energy supply, renewables, and clean technologies. Shell is closing in on its first foray into Australia's competitive electricity sector with a (AUS) $617m takeover bid for ERM Power Ltd, as the oil and gas giant continues its drive into the consumer...

 
 
Source: Business Green
 

US and Asian Investment in UK Tech Skyrockets

The UK tech sector has attracted more foreign investment in the first seven months of 2019 than it did during the whole of last year, according to latest industry figures, and has overtaken the US for foreign investment, per capita. 

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