watt-hours per liter (Wh/L) in 2008 to over 700 Wh/L in 2023. Technologies surpassing 1,000 Wh/L are currently in the final stages of development. Although lithium-based battery technologies, specifically lithium-nickel-manganese-cobalt (NMC) and lithium-iron-phosphate (LFP), currently command nearly 90% of the market share, new technologies like solid-state batteries are promising advancements in cost, size, and energy density. Shell buys Volta Shell USA Inc. will acquire San Francisco-based electric vehicle charging company Volta Inc. for $169 million cash. The transaction gives the subsidiary of supermajor Shell a network of more than 3,000 smart media-enabled charging stations in 31 states. Lithium The U.S. Department of Energy has offered a conditional commitment for a loan of up to $700 million to Australia-based lithium-boron producer Ioneer’s Ltd.’s Rhyolite Ridge lithium-boron project in Esmeralda County, Nevada. The 10-year, fixed- rate loan is being made as part of the DOE Loan Program Office’s Advanced Technology Vehicles Manufacturing program. The project is fully funded to a Final Investment Decision. Rhyolite Ridge holds the largest known lithium and boron deposit in North America. Located on federal lands overseen by the Bureau of Land Management, the project plan envisions on-site co- generation, limited water usage and state-of-the-art emissions controls. The project has advanced to the final phase of federal permitting, which is a major milestone in the National Environmental Policy Act approval process. Ioneer anticipates a record of decision in 1Q24 and first production in 2026. Potential Mineral Going to Waste in the Oil Field? Concentrations of lithium contained in wastewater from Permian Basin oil and gas operations alone are valued at more than $19 billion annually based on rising lithium prices, according to a recent study. Direct lithium extraction technologies are under development for the separation of naturally occurring lithium from wastewater that could provide both regional supplies of the coveted
mineral, which is essential to rechargeable battery production, as well as a new revenue stream to oil and gas producers. Typically mined or extracted via evaporation, lithium is also found in all formation waters. Methane Leak Detection One of the fastest-growing segments in the carbon management space is emission detection technologies, with everything from field sensors to drones, airplanes, helicopters and satellites being deployed to detect greenhouse-gas (GHG) leaks and emissions. New technology includes the use of infrared emissions detection cameras that are equipped with navigation and integrated computers. These technologies are aimed at reliably measuring, monitoring, and reporting methane emissions and flaring, with the ultimate goal of eliminating methane and routine flare emissions from operations. The same proven emissions monitoring technology used to detect greenhouse gases is being employed to identify and monitor orphan wells in the United States. Due to age and deterioration, orphan wells can leak methane and other harmful gases through the plug and the EPA estimates there may be over 2 million inactive, unplugged wells in the U.S. Sensor technology can detect methane emissions down to 1 part per billion (ppb). New rules released by the New Mexico Energy, Minerals and Natural Resources Department require oil and gas operators to reduce unnecessary emissions and the new advanced leak detection technology will help meet the new state regulatory requirements. The Hydrogen Rainbow - Energy experts see potential in hydrogen’s ability to decarbonize major sectors of the economy and generate electricity if demand picks up and projects are economical. Hydrogen is viewed as a clean alternative to fossil fuels, although some forms are generated from fossil fuels. These include gray hydrogen, created from natural gas; blue hydrogen, also generated from natural gas but incorporating carbon capture and storage; and the dirtiest, black and brown hydrogen, created through burning coal and lignite.
G rowth T hrough E ducat i on - O c tober / N ov ember / D e c ember 2023 25
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