Schneider Electric releases report company preparedness for New Energy Economy
The energy digital transformation firm, Schneider Electric, has released a report on how well companies are prepared for the future of the energy industry.
The report reveals that most companies are ready a decentralised, decarbonised, and digitalised future.
However, the findings also state that many firms have not devised plans to enhance energy and sustainability programs.
According to the data, 81% of firms had made or plan to make efficiency upgrades, with 85% aiming to make their carbon-reduction schemes more competitive over the next three years.
Only 30% or less companies, from the 236 surveyed, will potentially use microgrids and demand responses, or any other form of new energy opportunity.
51% of the of reviewed companies have used or plan to use renewable energy projects, and only 23% have implemented, or plan to do so in the near term, demand response strategies.
“We are in the middle of a massive disruption in the way energy is consumed and produced,” said Jean-Pascal Tricoire, Chairman and CEO at Schneider Electric.
“The near-universal focus on conservation is a positive. However, being a savvy consumer is only a part of what’s needed to survive and thrive,” he added.
Companies need to prepare to be an active energy participant, putting the pieces in place to produce energy, and interact with the grid, utilities, peers and other new entrants. Those that fail to act now will be left behind.”
Trafigura and Yara International explore clean ammonia usage
Reducing shipping emissions is a vital component of the fight against global climate change, yet Greenhouse Gas emissions from the global maritime sector are increasing - and at odds with the IMO's strategy to cut absolute emissions by at least 50% by 2050.
How more than 70,000 ships can decrease their reliance on carbon-based sources is one of transport's most pressing decarbonisation challenges.
Yara and Trafigura intend to collaborate on initiatives that will establish themselves in the clean ammonia value chain. Under the MoU announced today, Trafigura and Yara intend to work together in the following areas:
- The supply of clean ammonia by Yara to Trafigura Group companies
- Exploration of joint R&D initiatives for clean ammonia application as a marine fuel
- Development of new clean ammonia assets including marine fuel infrastructure and market opportunities
Magnus Krogh Ankarstrand, President of Yara Clean Ammonia, said the agreement is a good example of cross-industry collaboration to develop and promote zero-emission fuel in the form of clean ammonia for the shipping industry. "Building clean ammonia value chains is critical to facilitate the transition to zero emission fuels by enabling the hydrogen economy – not least within trade and distribution where both Yara and Trafigura have leading capabilities. Demand and supply of clean ammonia need to be developed in tandem," he said.
There is a growing consensus that hydrogen-based fuels will ultimately be the shipping fuels of the future, but clear and comprehensive regulation is essential, according to Jose Maria Larocca, Executive Director and Co-Head of Oil Trading for Trafigura.
Ammonia has a number of properties that require "further investigation," according to Wartsila. "It ignites and burns poorly compared to other fuels and is toxic and corrosive, making safe handling and storage important. Burning ammonia could also lead to higher NOx emissions unless controlled either by aftertreatment or by optimising the combustion process," it notes.
Trafigura has co-sponsored the R&D of MAN Energy Solutions’ ammonia-fuelled engine for maritime vessels, has performed in-depth studies of transport fuels with reduced greenhouse gas emissions, and has published a white paper on the need for a global carbon levy for shipping fuels to be introduced by International Maritime Organization.
Oslo-based Yara produces roughly 8.5 million tonnes of ammonia annually and employs a fleet of 11 ammonia carriers, including 5 fully owned ships, and owns 18 marine ammonia terminals with 580 kt of storage capacity – enabling it to produce and deliver ammonia across the globe.
It recently established a new clean ammonia unit to capture growth opportunities in emission-free fuel for shipping and power, carbon-free fertilizer and ammonia for industrial applications.