Shell acquires Greenlots in boost to EV infrastructure plans in North America
Shell has acquired Greenlots, a US-based leader in electric vehicle (EV) charging and energy management software and solutions.
Greenlots will become a wholly owned subsidiary of Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc. With this deal, Greenlots’ technology and team become the foundation for Shell’s continued expansion of electric mobility solutions in North America. Together, the companies will offer best in class software and services that enable large-scale deployment of smart charging infrastructure and integrate efficiently with advanced energy resources like solar, wind and power storage.
With Shell, Greenlots will intensify its growth efforts and expand its range of mobility services to utilities, cities, automakers, fleets and drivers around the world. Greenlots will retain its brand identity and leadership team.
Brett Hauser, Chief Executive Officer of Greenlots said: “As power and mobility converge, there will be a seismic shift in how people and goods are transported. Electrification will enable a more connected, autonomous and personalized experience. Our technology, backed by the resources, scale and reach of Shell, will accelerate this transition to a future mobility ecosystem that is safer, cleaner and more accessible.”
Mark Gainsborough, Executive Vice President, New Energies for Shell said: “As our customers’ needs evolve, we will increasingly offer a range of alternative energy sources, supported by digital technologies, to give people choice and the flexibility, wherever they need to go and whatever they drive. This latest investment in meeting the low-carbon energy needs of US drivers today is part of our wider efforts to make a better tomorrow. It is a step towards making EV charging more accessible and more attractive to utilities, businesses and communities.”
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.