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Energy

Octopus and Lunar Energy.
Climate Tech

Exclusive: Octopus Energy Launches Battery-Powered Electricity Plan With Lunar

The companies are offering Texas ratepayers a three-year fixed-price contract that comes with participation in a virtual power plant.

AM Briefing

Blowing the Whistle

On Trump’s renewables embargo, Project Vault, and perovskite solar

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Sparks

Federal Judge Breaks Trump’s Permitting Blockade

The opinion covered a host of actions the administration has taken to slow or halt renewables development.

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Arctic clouds.

‘A Critical Phase’

On China’s H2 breakthrough, vehicle-to-grid charging, and USA Rare Earth goes to Brazil

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Protest signs.

Exclusive: Data Centers Are Now More Controversial Than Wind Farms

Fights over AI-related developments outnumber those over wind farms in the Heatmap Pro database.

Energy

8 Things We Learned From Fervo’s IPO Filing

The enhanced geothermal darling is spending big on capex, but its shares will be structured more like a software company’s.

A Fervo installation.
<p>Heatmap Illustration/Fervo, Getty Images</p>

Fervo, the enhanced geothermal company that uses hydraulic fracturing techniques to drill thousands of feet into the Earth to find pockets of heat to tap for geothermal power, is going public.

The Houston-based company was founded in 2017 and has been a longtime favorite of investors, government officials, and the media (not to mention Heatmap’s hand-selected group of climate tech insiders) for its promise of producing 24/7 clean power using tools, techniques, and personnel borrowed from the oil and gas industry.

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AM Briefing

Total Waste

On Eli Lilly’s nuclear, Sunrise Wind, and Brazil’s minerals

Offshore wind.
<p>Heatmap Illustration/Getty Images</p>

Current conditions: Temperatures in the Northeast are swinging from last week’s record 90 degrees Fahrenheit to a cold snap with the risk of freezing • After a sunny weekend, the United States’ southernmost capital — Pago Pago, American Samoa — is facing a week of roaring thunderstorms • It’s nearing 100 degrees in Bangui as the Central African Republic’s capital and largest city braces for another day of intense storms.


THE TOP FIVE

1. Oil prices jump as fragile Iran War ceasefire crumbles

The price of crude spiked nearly 7% in pre-market trading Sunday after the fragile ceasefire between Iran and the U.S.-Israeli alliance. Things had been looking up on Friday, when President Donald Trump announced what appeared to be a breakthrough in talks with Tehran in a post on Truth Social, saying Iran would “fully reopen” the Strait of Hormuz. By Sunday, however, the U.S. commander in chief was accusing Tehran of firing bullets at French and British vessels in the waterway in “a total violation of our ceasefire agreement,” adding: “That wasn’t nice, was it?” On Sunday afternoon, Trump posted again to announce that the U.S. had seized an Iranian-flagged cargo ship attempting to traverse the strait. The prolonged conflict will only harden the historic rupture the severe contraction of oil and gas supply to the global market in modern history has triggered in global energy planning. “As happened with Russia’s war against Ukraine, the consequences of the Hormuz closure cannot simply be undone. That leaves countries — especially poorer countries dependent on fossil fuel imports — with a stark choice about how to fuel their future economic growth,” Heatmap’s Matthew Zeitlin wrote last week. “The crisis may have tipped the balance towards renewable and storage technology from China over oil and natural gas from the Persian Gulf, Russia, or the United States.”

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