Energy Transition in Motion (Week of April 4, 2025)

Maverick Metals has secured $19 million during an equity funding round led by Olive Tree Capital, according to an April 3 news release.

The funds are intended to help the San Antonio, Texas-based company accelerate commercialization of proprietary critical metals recovery technology and contracts with major mining companies to expand its LithX pilot deployments.

Maverick Metals’ LithX critical metals recovery technology can be used to extract lithium from alpha spodumene, lepidolite, lithium-bearing clays and tailings with minimized acid use and removal of acid roasting and calcination, the company said. It also used for the recovery of copper among other metals.

“As the U.S. accelerates its push for domestic critical metals production, LithX provides a scalable, commercially viable path to securing essential materials,” said Maverick Metals CEO and Co-Founder Eric Herrera. “By increasing recovery rates and making it economically viable to extract metals from previously uneconomical deposits, low-grade ores and waste streams, LithX delivers a practical solution for operators seeking to maximize production and lower OPEX. Securing this significant equity funding validates the groundbreaking potential of our technology to support global supply chain resilience.”

Steps are being taken in the U.S. to boost production of critical materials to reduce reliance on foreign countries. In late March, U.S. President Donald Trump issued an executive order that aims to expedite domestic production of critical minerals.

Critical metals such as lithium are essential for clean energy technologies—such as batteries—and they are also needed for other equipment such as military guidance systems, satellites, semiconductors and electronics. While the U.S. has resources, it lacks sufficient processing and refining capacity, which is dominated by China.

Y Combinator, Hanwha Group, Liquid 2 Ventures, Nomadic Venture Partners, Soma Capital and TechNexus Venture Collaborative also participated in the funding round, according to the release.

Here’s a roundup of other renewable energy news.

Energy storage

Stryten Plans to Add 10 GW of Energy Storage Manufacturing Capacity

Georgia-based Stryten Energy on March 31 said it plans to add 10 gigawatts (GW) of new battery energy storage manufacturing capacity, boosting its U.S. capacity to 24 GW.

Supported by existing advanced manufacturing production tax credits, Stryten said the company aims to increase the domestic supply of batteries for the military, long-duration energy storage, transportation and material-handling applications.

“Our investments to significantly increase the gigawatt capacity across our footprint will help to support the growing energy demand and achieve our nation's goal of true energy resilience,” Stryten Energy CEO Mike Judd said in a news release.

As part of the plan, Stryten said it also will increase domestic processing capacity of recycled plastic from spent batteries, which is used to produce the new battery components.

The company, which provides battery components to its factories, has plants in Pennsylvania, New York, Indiana, Missouri and Wisconsin. Stryten recently opened a lithium battery assembly plant in Georgia.

EnerSys Relocates Battery Production from Mexico to US

Energy storage company EnerSys said April 1 it will close the company’s flooded lead-acid battery manufacturing facility in Monterrey, Mexico, and transition production to its existing plant in Richmond, Kentucky.

The move is expected to “enable us to optimize our cost structure, maximize near-term IRC 45X tax benefits and mitigate future risks associated with potential tariffs while reinforcing our commitment to strengthen domestic industrial security,” said EnerSys COO Shawn O’Connell, who will become CEO in May.

The company said it anticipates the restructuring will lead to an estimated pre-tax benefit of $19 million annually, beginning in fiscal year 2027. It is also expected to result in a pre-tax charge of about $20 million, EnerSys said. The charge would be recorded in the first half of 2025.

Battery Recycler Ecobat Marks Milestone with Three Plants Online

Dallas-based battery recycler Ecobat has lifted its annual processing capacity by up to 10,000 tons of lithium-ion batteries, having commissioned three plants within the last 12 months, the company said April 3.

“Ecobat’s rapid expansion in lithium-ion battery recycling demonstrates our commitment to meeting the growing demand for sustainable, closed-loop production processes,” said Brett Horton, managing director of Ecobat Solutions. “With EV sales rising and more end-of-life batteries entering the market, our new facilities are well-positioned to meet these challenges, creating value for our partners and stakeholders, while helping to drive the transition to a circular economy.”

The facilities focus on the production of black mass—which is rich in minerals such as lithium, cobalt, nickel, manganese and graphite—from the recycled batteries, Ecobat said in a news release. The company’s plant in Darlaston, England was commissioned in November 2024; its Casa Grande, Arizona, plant was commissioned in April 2024; and its Hettstedt, Germany plant was commissioned in fourth-quarter 2023.

Ecobat said it aims to scale its capacity to 25,000 tons.

Petrobras Considers Power Auction for Batteries as Possible Opportunity

(Reuters) Brazil’s Petrobras is looking at an auction that will contract energy from batteries for the country’s electric sector “as a possibility” for the company to develop business in the area, an executive at the state-run oil firm said April 1.

According to Battery and New Technologies manager Clarissa Palu, Petrobras has started to look at research and projects in the stationary energy storage and electric mobility segments, and could post a bid during the upcoming auction.

Brazil is planning an auction for energy storage solutions that could happen in the second half of this year, but there is still no set date for it to take place.

China to Launch Grid-Connected Car Projects to Balance Power Supply

(Reuters) China plans to launch pilot projects in nine cities that would use the country’s growing fleet of electric vehicles (EVs) as batteries to shore up power supply on the grid during spikes in demand, according to a government announcement April 2.

The move follows on rules issued last year by the state planner National Development and Reform Commission (NDRC) to strengthen the integration of new energy vehicles with the grid amid concerns the rapid adoption of EVs would overwhelm the generation and transmission systems.

The majority of the 30 projects in cities including Beijing, Shanghai, Shenzhen and Guangzhou are vehicle-to-grid or V2G, according to the announcement by the NDRC and energy regulator.

Cars would act as batteries, storing power and sending it back into the grid. Grid-connected cars could also adjust their charging times to avoid peak periods and provide critical services such as frequency regulation.

Providing those services could potentially become an alternative revenue stream for homeowners or operators of charging stations.

According to the notice, power grid companies are responsible for setting up the pilots, and provincial governments should lead the development of charging facilities. The energy regulator is tasked with supporting the participation of grid-connected vehicle applications in power trading.

Last year, NDRC said it would set up over 50 pilot programs by 2025. However, industry experts say there are a range of hurdles to overcome before the large-scale adoption of V2G, such as developing viable business models. NDRC also said in the 2024 rule that battery technologies need to be improved.

Geothermal

OSI Renewables Unveils High-Temperature Geothermal Wellhead

Oil States International portfolio company OSI Renewables has released a new geothermal product aiming to improve well integrity, lower operational costs and enhance energy production.

The company said its GeoLok high-temperature geothermal wellhead has an integrated tensioning system and leverages field-proven oil and gas technology.

“GeoLok decreases casing requirements and employs a ‘cut and pull’ approach that reduces material costs, heat loss and cementing voids to ultimately lower geothermal well downtime and operating expenses,” OSI said in a news release.

The technology’s open annulus also ensures continuous monitoring, the company said. Other features include rate of change alarms to communicate well health and mechanisms that detect corrosion.

Hydrogen

Energy Vault Reels in Financing for Hydrogen, Energy Storage Project

Energy Vault on April 1 said it closed on $28 million in project financing for the Calistoga Resiliency Center (CRC), a hybrid green hydrogen-plus-battery energy storage microgrid in California.

The financing includes the completed sale of an Investment Tax Credit associated with the CRC. The first-of-its-kind project being deployed for Pacific Gas & Electric Company (PG&E) utilizes advanced hydrogen fuel cells with lithium-ion batteries and is designed to address power resiliency given wildfire risk in California, Energy Vault said in a news release.

“The 293-MWh microgrid system delivers about 48 hours of continuous energy supply with a peak power output of 8.5 MW [megawatts] during Public Safety Power Shutoff events,” the release states. “When operating in island mode, the CRC utilizes green hydrogen in fuel cells for electricity generation, providing essential power to the community.”

Energy Vault’s B-VAULT DC battery technology works with the fuel cells to ensure instantaneous response and maintain grid stability throughout operation.

The company said the CRC, which achieved mechanical completion, is now under commissioning. Full commercial operation is expected in second-quarter 2025.

VNG to Start Test Operations of 30-MW Electrolyzer in Q3 2025

(Reuters) Eastern German gas company VNG, majority-owned by utility EnBW, said on April 2 it will start test operations at a 30-MW electrolysis plant in third-quarter 2025 as the basis of a new green hydrogen value chain.

VNG intensified a green gases strategy, along with alternative gas procurements, to replace former supplier Russia, which in 2022 turned off export taps to the West, hitting VNG’s business as much as those of its big peers SEFE and Uniper.

“We have scheduled the commissioning and trial operation of the 30 MW electrolyzer in the third quarter,” said Technical Director Hans-Joachim Polk in a company statement.

The plant, situated in Bad Lauchstaedt in Saxony-Anhalt state, will produce green hydrogen from power derived from local wind turbines and dedicated to the purpose of supplying the nearby Leuna chemicals and oil park with TotalEnergies as VNG’s anchor customer.

When produced with renewable electricity through the electrolysis of water, rather than by stripping it from natural gas and releasing CO2, hydrogen is a greener fuel, as it leaves only water and oxygen as byproducts when burned.

“The plant will subsequently feed 2,700 tonnes of green hydrogen annually into the grid, for delivery for commercial use to ... TotalEnergies’ refinery,” Polk said.

Solar

EDPR-NA Adds 100 MW to Amazon-Backed Solar Park

EDP Renewables North America (EDPR-NA) has added 100 MW of capacity to the Riverstart Solar Park in Indiana, the company said April 1.

Amazon has contracted all of the power via a long-term power purchase agreement.

“The continued growth of our portfolio in Indiana with the launch of this newest phase of Riverstart Solar is yet another example of the significant contribution that renewables and solar play to serve the Hoosier State's growing energy needs,” said Sandhya Ganapathy, CEO of EDP Renewables North America. “As the largest owner and operator of renewables in the state, we are grateful to Randolph County for our continued partnership focused on delivering economic and community benefits that have resulted in a positive track record.”

The addition, which marks the third phase of the solar park, will generate electricity equivalent to the consumption of more than 19,200 Indiana homes, EDPR-NA said.

Wind

Norges Bank Acquires Stake North Sea Wind Projects in $1.5B Deal

Fund manager Norwegian Norges Bank Investment Management has acquired a 49% stake in two North Sea wind farms in a €1.4 billion (US$1.5 billion) deal with RWE, the energy company said March 31.

The transaction, expected to close in third-quarter 2025 pending customary approvals, involves the Nordseecluster wind farm in the German North Sea and the Thor wind farm in the Danish North Sea. Both projects are under construction.

The fund’s expected commitment for acquiring and funding its share of constructing the wind farms will be about €4 billion (US$4.3 billion), Norges Bank Investment Management said in a news release. No external debt financing will be involved in the transaction, it added.

In a separate news release, RWE said it will remain in charge of construction and operations throughout the lifecycle of the offshore wind farms. Combined, the two wind farms are expected to generate enough electricity to power more than 2.6 million households in Germany and Denmark, according to RWE.

“The projects will have long-term contracted revenues that provide stable cash flows and reduce risk to the projects,” RWE said.

Nordseecluster is being built in two phases: the 660-MW Nordseecluster A, with full commissioning planned for 2027, and the 900-MW Nordseecluster B with full commissioning scheduled for 2029.

Thor, the largest offshore wind farm to date offshore Denmark, is expected to reach full commissioning in 2027. The wind farm will have a total capacity of about 1.1 GW.

Dutch Weigh New Offshore Wind Subsidies as Bidders Opt Out

(Reuters) The Dutch government is looking to reintroduce subsidies in its tenders for offshore wind farms, as prospective bidders are backing out of the current “zero subsidy” model.

The Netherlands has managed to attract builders for its offshore wind farms without offering subsidies on electricity prices since 2017, but interest has waned due to rising construction costs and uncertainty over power prices.

Interest for the upcoming tender for three sites in the North Sea is “very low,” the Dutch climate ministry said on March 31.

Energy firms Eneco and Ørsted have already said they will not join the tender in September, as they see no viable business case without subsidies.

“It is a real difference with the situation of the past three years and gives enough reason for us to see if we can make changes,” ministry spokesperson Pieter ten Bruggencate said about the lack of potential bidders.

“Market circumstances have changed significantly, we are looking for ways to offer bidders more comfort and security.”

Any changes for the upcoming tender for the three 1-GW sites will remain relatively small, he said without giving further details.

Hart Energy Staff and Reuters contributed to this report.