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On Redwood Materials’ milestone, states welcome geothermal, and Indian nuclear

Current conditions: Powerful winds of up to 50 miles per hour are putting the Front Range states from Wyoming to Colorado at high risk of wildfire • Temperatures are set to feel like 101 degrees Fahrenheit in Santa Fe in northern Argentina • Benin is bracing for flood flooding as thunderstorms deluge the West African nation.

New York Governor Kathy Hochul inked a partnership agreement with Ontario Premier Doug Ford on Friday to work together on establishing supply chains and best practices for deploying next-generation nuclear technology. Unlike many other states whose formal pronouncements about nuclear power are limited to as-yet-unbuilt small modular reactors, the document promised to establish “a framework for collaboration on the development of advanced nuclear technologies, including large-scale nuclear” and SMRs. Ontario’s government-owned utility just broke ground on what could be the continent’s first SMR, a 300-megawatt reactor with a traditional, water-cooled design at the Darlington nuclear plant. New York, meanwhile, has vowed to build at least 1 gigawatt of new nuclear power in the state through its government-owned New York Power Authority. Heatmap’s Matthew Zeitlin wrote about the similarities between the two state-controlled utilities back when New York announced its plans. “This first-of-its-kind agreement represents a bold step forward in our relationship and New York’s pursuit of a clean energy future,” Hochul said in a press release. “By partnering with Ontario Power Generation and its extensive nuclear experience, New York is positioning itself at the forefront of advanced nuclear technology deployment, ensuring we have safe, reliable, affordable, and carbon-free energy that will help power the jobs of tomorrow.”
Hochul is on something of a roll. She also repealed a rule that’s been on the books for nearly 140 years that provided free hookups to the gas system for new customers in the state. The so-called 100-foot-rule is a reference to how much pipe the state would subsidize. The out-of-pocket cost for builders to link to the local gas network will likely be thousands of dollars, putting the alternative of using electric heat and cooking appliances on a level playing field. “It’s simply unfair, especially when so many people are struggling right now, to expect existing utility ratepayers to foot the bill for a gas hookup at a brand new house that is not their own,” Hochul said in a statement. “I have made affordability a top priority and doing away with this 40-year-old subsidy that has outlived its purpose will help with that.”
Redwood Materials, the battery recycling startup led by Tesla cofounder J.B. Straubel, has entered into commercial production at its South Carolina facility. The first phase of the $3.5 billion plant “has brought a system online that’s capable of recovering 20,000 metric tons of critical minerals annually, which isn’t full capacity,” Sawyer Merritt, a Tesla investor, posted on X. “Redwood’s goal is to keep these resources here; recovered, refined, and redeployed for America’s advantage,” the company wrote in a blog post on its website. “This strategy turns yesterday’s imports into tomorrow’s strategic stockpile, making the U.S. stronger, more competitive, and less vulnerable to supply chains controlled by China and other foreign adversaries.”
A 13-state alliance at the National Association of State Energy Officials launched a new accelerator program Friday that’s meant to “rapidly expand geothermal power development.” The effort, led by state energy offices in Arizona, California, Colorado, Hawaii, Idaho, Louisiana, Montana, Nevada, New Mexico, Oregon, Pennsylvania, Utah, and West Virginia, “will work to establish statewide geothermal power goals and to advance policies and programs that reduce project costs, address regulatory barriers, and speed the deployment of reliable, firm, flexible power to the grid.” Statements from governors of red and blue states highlighted the energy source’s bipartisan appeal. California Governor Gavin Newsom, a Democrat, called geothermal a key tool to “confront the climate crisis.” Idaho’s GOP Governor Brad Little, meanwhile, said geothermal power “strengthens communities, supports economic growth, and keeps our grid resilient.” If you want to review why geothermal is making a comeback, read this piece by Matthew.
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Yet another pipeline is getting the greenlight. Last week, the Federal Energy Regulatory Commission approved plans for Mountain Valley’s Southgate pipeline, clearing the way for construction. The move to shorten the pipeline’s length from 75 miles down to 31 miles, while increasing the diameter of the project to 30 inches from between 16 and 23 inches, hinged on whether FERC deemed the gas conduit necessary. On Thursday, E&E News reported, FERC said the developers had demonstrated a need for the pipeline stretching from the existing Mountain Valley pipeline into North Carolina.
Last week, I told you about a bill proposed in India’s parliament to reform the country’s civil liability law and open the nuclear industry to foreign companies. In the 2010s, India passed a law designed to avoid another disaster like the 1984 Bhopal chemical leak that killed thousands but largely gave the subsidiary of the Dow Chemical Corporation that was responsible for the accident a pass on payouts to victims. As a result, virtually no foreign nuclear companies wanted to operate in India, lest an accident result in astronomical legal expenses in the country. (The one exception was Russia’s state-owned Rosatom.) In a bid to attract Western reactor companies, Indian lawmakers in both houses of parliament voted to repeal the liability provisions, NucNet reported.
The critically endangered Lesser Antillean iguana has made a stunning recovery on the tiny, uninhabited islet of Prickly Pear East near Anguilla. A population of roughly 10 breeding-aged lizards ballooned to 500 in the past five years. “Prickly Pear East has become a beacon of hope for these gorgeous lizards — and proves that when we give native wildlife the chance, they know what to do,” Jenny Daltry, Caribbean Alliance Director of nature charities Fauna & Flora and Re:wild, told Euronews.
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Current conditions: For the first time since 1914, the Atlantic hurricane season may pass without any major hurricanes, per an AccuWeather forecast • From Phoenix to Dallas, flood watches are in effect as the remnants of Hurricane Polo stretch inland from the Pacific through the Southwest • Surigae, now upgraded to a “severe” tropical storm, is set to slam into Japan’s Izu Islands, a partially populated archipelago in the same municipality as Tokyo.
The Department of Energy has ordered the release of 40 million barrels of oil from the Strategic Petroleum Reserve as diesel surpasses $6.50 per gallon and Texas proclaims a statewide “disaster” over soaring prices. The move, which Secretary of Energy Chris Wright said would “stabilize the market,” comes as the Trump administration weighs whether to temporarily ban exports of diesel, a radical step that might only slightly lower American prices while sending Europe’s fuel costs skyrocketing, as the chief executive of the continent’s No. 2 oil company cautioned in a Bloomberg interview this week. The oil is expected to be a loan from the stockpile that would, Wright said, ultimately save Americans more than $3 billion. The transaction follows the same approach the Trump administration has taken since agreeing to distribute 172 million barrels from the Strategic Petroleum Reserve back in March, when the war with Iran began. Had the administration instead sold the barrels through an emergency drawdown instead of a trade, as it did previously, and simultaneously structured the deal to allow it to buy back oil at the lower prices the futures market is trading at presently, the Energy Department could have significantly increased its profits. That’s the finding of a policy memo from the think tank Employ America that I told you about a few weeks ago. The profit could, in turn, be used to invest in America’s fuel stockpile, clearing some of the $230 million backlog of physical repairs needed on the infrastructure that stores the crude. “The choice to deliver more barrels is fraught, but with that decision made, the administration missed an opportunity to set up the SPR for long-term success,” Arnab Datta, Employ America’s managing director of policy implementation, told me in a text message last night. “I hope they consider creative options to do so moving forward.”
Meanwhile, oil is actually flowing through the Strait of Hormuz again. “Iran’s regime has lost control of the Strait of Hormuz,” energy investor Alexander Stahel wrote in a lengthy post on X. The U.S. military’s naval escorts and the United Arab Emirates’ commitment to circumventing Iran’s blockade are returning the critical waterway to “normal,” as my colleague Robinson Meyer wrote. Over text message last night, I asked an energy trader if this meant we were winning. “I’d say we’re losing less than we had been,” they said. “If Iran hadn’t gotten the Houthis to attack Saudi Arabia and seize the Red Sea, we’d definitely be.” Big if!
British Prime Minister Andy Burnham emerged triumphant from the Labour Party’s recent political implosions after he established himself as a pragmatic left-wing populist during his time as mayor of Manchester — drawing frequent comparisons to New York City Mayor Zohran Mamdani. Now Burnham is demonstrating what his brand of “business-friend socialism” means in energy. On Tuesday, Downing Street announced the launch of Great British Grid, a new subsidiary of the state-owned Great British Energy, designed to compete with private companies for investments in the power grid. “We have a cost crisis. We all know it,” Burnham said in a speech, according to The Guardian, which broke news of GB Grid. “The price of energy is crippling for businesses, and British bill payers pay some of the highest energy costs in Europe. We have an energy system where prices are dictated in markets miles away, while families and businesses here shoulder the costs. Once again, the British public has lost control.” His answer? Reverse what he called “40 years of neoliberalism.” Over here on this side of the pond, we are waiting to see what’s in the deal the Senate has brokered to ease federal permitting, one of many hurdles to building new transmission lines in America. The text of the agreement is due out later today.
Down in the South Atlantic, things are heating up in the Falkland Islands, even as temperatures outside remain low. The archipelago has never had a native population — as far as anyone can tell, the longest-lasting settled population has been the mostly British herders and fishers who have voted repeatedly to stay under the British crown. That didn’t stop Argentina, which has claimed what it calls Las Malvinas for centuries, from launching an invasion in 1983, in which the British military won a decisive victory. Now that the sleepy Falklands are preparing to drill oil wells in the offshore economic zone surrounding the islands, Buenos Aires is waging what one Falklander described to the Financial Times as “economic warfare.” Instead of Union Jacked Sea Harriers and Argentinian light cruisers doing the combat, this time Argentina is limiting trade, isolating the Falklands. “We’re just a few thousand people trying not to get blown off a rock,” local radio host Ronnie MacLennan Baird told the newspaper. “We just want to get on with our lives.”

Lots of solar developers are promising to compete with nuclear, geothermal, and hydro plants in generating the type of electricity that matches today’s favored buzzwords of “24/7,” “clean,” and “baseload” by pairing panels with batteries. Few companies, for obvious reasons, actually mean generating solar energy all day and night. Virtus Solis Technology, on the other hand, is promising to pioneer a method for delivering solar power generated from panels affixed to satellites in space, capable of angling at every hour to meet the sun’s rays and beaming wireless power back down to Earth. It’s hardly the only developer reaching for solar in space. But the Troy, Michigan-based startup is the first to get someone to agree to buy that electricity. On Wednesday, the company inked its first power purchase agreement to sell electricity from its debut, 100-megawatt solar satellite to the Chicago-based data center developer Brae Systems over the next 20 years. Virtus Solar called it the “first in a series of commercial offtake agreements” expected in the next several months. As part of the deal, Virtus Solar will build a “dedicated terrestrial receiving station to be constructed in Illinois.” The contract includes an option to increase capacity to 250 megawatts within three years of commercial operations. “Securing a direct 20-year supply of firm, clean power from Virtus Solis ensures our GPU infrastructure operates with predictable power costs and zero carbon emissions, completely insulated from terrestrial grid curtailment,” Brae Systems CEO Vishnu Indukuri said in a statement.
Other frontier energy sources have evolved quickly from plans to deals. Commonwealth Fusion Systems, the current frontrunner in America’s fusion startup race, signed its inaugural power purchase agreement with Google last year. Now the spinout from the Massachusetts Institute of Technology is attracting institutional investors, as my colleague Katie Brigham has written, and inching closer to building out its supply chain. On Wednesday morning, the company announced what it called a “landmark supply agreement” with the Japanese industrial giant Fujikura to buy more than 6,200 miles of high-temperature superconducting tape to help build CFS’ doughnut-shaped ARC fusion reactors.
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As of now, the European Union is set to start forcing foreign oil and gas companies to monitor and submit data on their methane emissions or face financial penalties. But Brussels is now considering delaying the methane reporting rules by as much as a year as tight fuel supplies send prices ever higher amid the twin energy shocks from the wars in Iran and Ukraine. On Tuesday, Reuters and OilPrice.com reported that EU Energy Commissioner Dan Jorgensen had confirmed that officials are examining whether to postpone the provisions. The statement came days after Jorgensen made a similar remark to Bloomberg.
Meanwhile, Jorgensen’s native Denmark is heeding the former U.S. Energy Secretary Ernie Moniz’s call to invest more in clean fuels. On Tuesday, Hydrogen Insight reported that the country planned to increase its budget for building a network of dedicated hydrogen pipelines by $850 million.
One of the more memorable moments of the 2024 vice presidential debate came when JD Vance lashed his Democratic rival, Minnesota Governor Tim Walz, for failing to prioritize manufacturing of solar panels in the U.S. The Democrat shot back that such factories were open in his very state. Among them was Heliene, a producer of high-performance solar modules designed for boutique rooftop units. On Tuesday, the company rolled out a new all-American module at a moment when solar buyers are increasingly seeking technology that won’t be subject to President Donald Trump’s tariffs. “The new module brings together American-made polysilicon, ingots, wafers, and solar cells, reconnecting critical stages of the solar supply chain with U.S. manufacturing after more than a decade,” the company said, calling the module “an important step in reshoring U.S. solar manufacturing, bringing more of the upstream silicon supply chain back to America.”
As my colleague Emily Pontecorvo and I reported last month, the Department of Commerce just threw solar manufacturers a lifeline by slapping new import levies and restrictions on foreign polysilicon, the main ingredient in solar panels. But the agency halted enforcement until early December, giving importers the opportunity to stockpile in advance of the new rules taking effect. Last week, the Commerce Department moved to ban stockpiling. “Protecting against stockpiling is critical to ensure a functionally viable remedy from the Section 232 rules,” Matt Card, president of the U.S. cell manufacturer Suniva, told PV Tech.
A quick letter of recommendation to close out this morning’s newsletter. Back in 2018, I received a galley copy of a forthcoming book by a niche left-wing sociologist with a growing focus on climate change. The title — After Geoengineering: Climate Tragedy, Repair, and Restoration — struck me. Geoengineering and its associated technological ideas to adapt to a hotter world, such as carbon dioxide removal, were at that point very taboo in climate policy circles. The technology, assuming it even worked, posed what many saw as a moral hazard, a Pandora’s box that, if opened, would sap humanity’s collective will to do the hard work of mitigating fossil fuel emissions. At least, that was the dominant mode of thinking at the time. So, you can imagine, I found that book title provocative. Over the course of 288 pages, the author, Holly Jean Buck, bounced between dense but readable chapters of nonfiction explanations of the latest science behind various cutting-edge climate technologies and sections of fictional sci-fi vignettes. The stories painted a picture of life in the not-so-distant future. One that has stuck with me over the years is a vision of an Oklahoma rancher earning passive income by letting a state carbon disposal program pump captured CO2 into the geological formations beneath his property. I offer my sincere congratulations to Holly, who yesterday was named among the 20 recipients of this year’s MacArthur Foundation’s prestigious “genius grant.”
Novele is aiming to smooth out power consumption for commercial buildings, saving tenants money and easing grid strain.
Electricity is more expensive in times of peak demand — that’s simply a universal truth. But for many commercial building owners and tenants, their most energy-intensive minutes of the month can have an especially outsized impact on their electricity bill. That’s because of the “demand charge,” a fee based on a building’s single highest burst of power consumption, which can make up over 50% of a customer’s monthly bill. Likewise, shrinking those bursts would not only ease strain on the grid, but could also dramatically lower commercial users’ costs.
Or at least that’s Novele’s pitch. The startup, which makes 2-inch-thick, fire-safe lithium-ion batteries that mount on the interior walls of commercial spaces such as offices, hospitals, and big box retailers, announced Wednesday that it raised an oversubscribed $17 million Series A led by impact-focused investor Boisei Labs. The funding will help the company scale its AI-powered battery system, which networks batteries placed throughout a building and uses software to predict impending spikes in power demand. Just before the peak hits, the system can automatically switch the building from grid power to battery power, helping the customer avoid those costly demand charges.
“We learn how the building consumes power, but we’re also taking into account other considerations, like what day of the week it is, how the building is occupied, when it’s being used, what’s happening with the weather conditions,” Novele’s co-founder and CEO Charles Conwell told me.
Of course, battery storage for commercial customers is nothing new. Tesla, for one, has long sold large batteries like its Megapack, along with software designed to help businesses manage and reduce peak demand. But unlike these larger outdoor systems, Novele designed its thin panels for installation inside occupied spaces like hospital hallways and offices, distributing the batteries throughout a building while operating them as a single, coordinated system.
The systems are custom designed, so Novele told me it couldn’t provide an overall cost estimate. But Conwell told me the batteries typically have a 20- to 40-month payback period, the timeframe in which a customer’s electricity bill savings should eclipse the system’s upfront cost. (The company also offers financing options that allow customers to spread out that cost over time.) And while customers may sign up for the cost savings, there are major decarbonization benefits, too. So-called peak-shaving can reduce the need for peaker plants — natural gas facilities that only fire up when demand is highest. These plants are typically among the grid’s most carbon-intensive assets, as they’re designed to ramp up quickly rather than operate efficiently for long periods.
These automated batteries could also enable commercial buildings to participate in virtual power plant programs, which ease strain on the grid by cutting energy use during periods of high demand or by tapping assets like batteries to send power back to the grid. Using stored energy when needed, Conwell explained, is better than typical demand response initiatives, which often require tenants to change their routines — e.g. when they run the dishwasher or charge an EV — to accommodate the grid. That approach, he said, is either “ineffective or doesn’t make the tenants very happy.”
As the company scales, it also envisions building a portfolio of properties that, if they have “a dense enough footprint,” could work in concert to form their own virtual power plant of sorts, Conwell said.
In the near term, however, Novele plans to use its Series A to expand its team, install more systems, and further develop its software. It’s particularly focused on markets where electricity costs are already high or climbing fast, such as California, New York, New England, and parts of the PJM power market. In PJM in particular, record-high capacity prices — largely driven by data center demand — are pushing electricity bills to new heights.
The company says it has already installed batteries for several Fortune 50 customers, though it’s keeping the identities of these early adopters under wraps. Conwell told me that there’s also “a bunch of installations that are in progress,” and that in the coming year, the company will be working toward making the process of purchasing, installing, and operating Novele’s system as seamless as possible.
Once that foundation is in place, Conwell sees an opportunity to help usher in a more responsive, intelligent future for the built environment. “If you get the infrastructure right, if you bring in the controls — the mechanical controls, the machine learning controls, and the artificial intelligence-driven controls — you start to be able to set the stage for a dynamic, autonomous building of the future.”
The former vice president of the United States joined us at Heatmap House for New York Climate Week.
Former Vice President Al Gore needs no introduction. He is, in a way, the original climate influencer. His film An Inconvenient Truth gave rise to a new wave of climate activism in the 2000s. It was one of the highest-grossing documentaries of all time upon its release, and it won an Oscar, a Grammy, and — for Vice President Gore — a Nobel Peace Prize.
He’s remained active in climate policy since then and leads the Climate Reality Project. He is also an investor and was a longtime director at Apple.
For this episode of Shift Key, Vice President Gore joined Rob for a live conversation at our Heatmap House event, part of New York Climate Week. He reflected on the 20th anniversary of An Inconvenient Truth, the existential risk of artificial intelligence, and what has surprised him most about the evolution of climate politics.
Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap News.
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Here is an excerpt from their conversation:
Robinson Meyer: Let’s start by talking about 20 years ago, because 20 years ago, An Inconvenient Truth came out. I recently had cause to revisit the film, and I actually have to confess something. I was very excited when the movie came out, but I don’t think I’ve ever admitted this, and maybe this is the wrong audience to do it to: I was too stressed about climate change to actually watch it. Not that it was a daily anxiety, but I was like, “I can’t. There’s so many other things.” And so I actually watched it for the first time only recently.
I had the book, let’s be clear. I had the book.
Al Gore: A limited confession.
Meyer: Yeah, yeah. It was so fascinating watching it 20 years on, because there are some sections of it that I think you could give today. Not that little has changed — the science hasn’t, of course — but the way people think about it, the way people move from denial to doom, hasn’t changed in some ways. I wondered what surprised you most about the intervening 20 years since the film came out. It received a response that, I don’t know what you were anticipating, but it was certainly on a scale beyond what was expected at the time. And then there’s where we are today.
Gore: Well, when Laurie David first made the suggestion, here in this city, I gave an early version of my slideshow when we were promoting that movie. What was it, The Day After —
Meyer: The Day After Tomorrow?
Gore: The Day After Tomorrow. Was that it? Yeah. And they said, “Well, that’s fiction, isn’t it?” And I said, “Well, it’s not as fictional as the then-current administration was about climate.” But when she said, “This needs to be made into a movie,” I said, “You’re crazy.” As one of the early reviewers said, “Al Gore giving a slideshow — what part of that doesn’t scream hit?” So I was a skeptic about the enterprise, and I was surprised at the reception it got.
Really, the credit belongs to the scientists I was just channeling. The fact that everything they predicted has proven to be basically spot on is a credit to them. For the rest of us, the fact that they were so right then should cause us to pay more attention to what they’re warning us about now.
As for what has surprised me, it’s the ferocity and durability and massive continued financing of climate denial by the fossil fuel industry. There was a time during these last 20 years when they said they were going to be part of the solution, and a couple of them made some good-faith efforts in that direction. But then, like Steve Martin on the old SNL, they went, “Nah.” They decided just to give up the ghost and go full speed ahead on more and more fossil fuels. I think they’re losing as we are winning, but they’re hanging in there.
You can find a full transcript of the episode here.
Mentioned:
Previously on Shift Key: Energy Secretary Chris Wright on Trump’s Pro-Nuclear, Pro-Fossil Fuel Agenda
This episode of Shift Key is sponsored by ...
RE+ 26 is the largest clean energy event in North America, happening November 16th through 19th at the Las Vegas Convention Center. Register at re-plus.com and use code SHIFTKEY20 to save 20% off a Full Conference pass.
Music for Shift Key is by Adam Kromelow.