May 17, 2020

EnviroMission Limited's Solar Tower ‘Rises' to the Occasion

2 min
EnviroMission's Solar Tower
There are many ways to harness the power of the sun, several of which are far simpler than the chemically complex photovoltaic panels that we are all fa...
There are many ways to harness the power of the sun, several of which are far simpler than the chemically complex photovoltaic panels that we are all familiar with in today’s green economy. For example, the sun’s heat has been harnessed for years to warm up water supplies and can even be focused with mirrors to create steam to power electricity-generating turbines. EnviroMission Limited is also harnessing the sun’s heat to run turbines; but instead of water, they are heating up the air in their Solar Tower power plant design.

The Solar Tower is fairly simple in its general function. It works by gathering the sun’s rays to heat up the air in an airtight canopy. The hot air then rises through a tall cylindrical tower at the center of the canopy. As everyone knows, heat rises, and as the hot air in the tower rises from bottom to top, it spins a series of turbines, thus creating electrical power.

The first installation of the Solar Tower power plant is set to debut in the deserts of Arizona in the United States. A single 200 Megawatt power station can produce enough clean renewable energy to power 100,000 homes, and is the carbon equivalent to removing 220,000 vehicles from the roads.

Acuity Technology Management has assessed the Solar Tower design and has placed a value of $60 million on the intellectual property and development rights, as well as commercial viability.

"This valuation represents an independent assessment of the value of EnviroMission's enhancements to Solar Tower technology, new intellectual property, know how and commercial prospects and outcomes such as the recent Power Purchase Agreement to sell electricity generated from the proposed Arizona Solar Tower to the Southern California Public Power Authority (SCPPA)," said Roger Davey, EnviroMission Chief Executive.

As solar energy solutions progress, new, seemingly simple designs will become the most profitable. Photovoltaic cells remain expensive, and the embodied energy and lifespan of solar panels leave consumers questioning their economic feasibility. Turbines, on the other hand, are an age-old technology that is relatively simple to build and maintain. EnviroMission Limited may have their hands on something here. Investors… start your engines! I mean turbines!

Source: EnviroMission Limited

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Apr 21, 2021

UK Government pledges to cut carbon emissions by 78% by 2035

3 min
UK Government to enshrine new emission targets in law by the end of June as Prime Minister Boris Johnson targets new technologies and green innovation
The UK government has agreed to stick to Climate Change Committee recommendations and cut carbon emissions by 78% by 2035 compared to 1990 levels, it announced today.
The sixth Carbon Budget limits the volume of greenhouse gases emitted over a 5-year period from 2033 to 2037, taking the UK more than three-quarters of the way to reaching net zero by 2050.
The budget will ensure Britain remains on track to end its contribution to climate change while remaining consistent with the Paris Agreement temperature goal to limit global warming to well below 2°C and pursue efforts towards 1.5°C.
For the first time, the budget will incorporate the UK’s share of international aviation and shipping emissions – an important part of the government’s decarbonisation efforts that will allow for these emissions to be accounted for consistently.
This comes ahead of Prime Minister Boris Johnson addressing the opening session of the US Leaders’ Summit on Climate, hosted by President Biden on Earth Day (April 22). The Prime Minister will urge countries to raise ambition on tackling climate change and join the UK in setting stretching targets for reducing emissions by 2030 to align with net zero.
The government is already working towards its commitment to reduce emissions in 2030 by at least 68% compared to 1990 levels through the UK’s latest Nationally Determined Contribution - the highest reduction target made by a major economy to date. Today’s world-leading announcement builds on this goal to achieve a 78% reduction by 2035.
The new target will become enshrined in law by the end of June, with legislation setting out the UK government’s commitments laid in Parliament tomorrow.
Prime Minister Boris Johnson said the UK will be home to "pioneering businesses, new technologies and green innovation as we make progress to net zero emissions".
Through its presidency of the crucial UN climate summit, COP26, which will take place in Glasgow later this year, the UK is urging countries and companies around the world to join the UK in delivering net zero globally by the middle of the century and set ambitious targets for cutting emissions by 2030.
The government has already laid the groundwork to end the UK’s contribution to climate change by 2050, starting with ambitious strategies that support polluting industries to decarbonise while growing the economy and creating new, long-term green jobs.
This includes the publication of the Industrial Decarbonisation Strategy, an ambitious blueprint for the world’s first low carbon industrial sector, slashing emissions by two-thirds in just 15 years, as well as over £1 billion government funding to cut emissions from industry, schools and hospitals.
Further, the UK is the first G7 country to agree a landmark North Sea Transition Deal to support the oil and gas industry’s transition to clean, green energy while supporting 40,000 jobs.
Through the deal, the sector has committed to cut emissions by 50% by 2030, while the government, sector and trade unions will work together over the next decade and beyond to deliver the skills, innovation and new infrastructure required to decarbonise North Sea production.

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