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News on Medial
Aramco to buy 50% of Air Products Qudra's blue hydrogen business
VCCircle
·
1y ago
Medial
Saudi oil company Aramco will acquire a 50% stake in the blue hydrogen industrial gases business of Air Products Qudra (APQ), as part of Saudi Arabia's push to become a major hydrogen producer. The financial terms of the deal were not disclosed, but it includes options for Aramco to purchase hydrogen and nitrogen. APQ is a joint venture between Air Products and Qudra Energy. Saudi Arabia aims to be the world's largest hydrogen supplier, reducing its reliance on crude oil. This move aligns with the country's broader economic agenda driven by its sovereign wealth fund, the Public Investment Fund.
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Govt proposes new registration plate for hydrogen vehicles
Economic Times
·
1m ago
Medial
The Indian Ministry of Road Transport and Highways has proposed new registration plates for hydrogen fuel vehicles. Commercial vehicles will feature a green and blue plate with yellow numbers, private vehicles a similar plate with white numbers, and cabs will have black and blue plates with yellow numbers. This initiative aims to promote hydrogen fuel technology by clearly distinguishing these vehicles on the road, aligning with the government's environmental and energy diversification goals.
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Tamil Nadu startup mission launches business pitch reality TV show
IndianStartupNews
·
1y ago
Medial
Tamil Nadu has launched "Startup Thamizha," the state's first Business Pitch Reality TV show aiming to identify and provide funding for 50 promising startups. The show has already secured a funding commitment of INR 200 crore (approximately $27 million) from various investors. The first season is expected to air in February 2024 and will be produced by Brand Avatar, Blue Koi, and Refex Capital. The initiative seeks to foster a thriving startup ecosystem and support grassroots-level entrepreneurship in Tamil Nadu.
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Beyond Aero is building a hydrogen-powered jet
TechCrunch
·
1y ago
Medial
Toulouse-based startup Beyond Aero is developing a hydrogen-powered business jet called Beyond Aero One. The company is currently conducting ground tests for its 85 kW hydrogen-based propulsion system and plans to perform flight tests later this year. The 800-nautical-mile range jet, designed to seat up to eight passengers, aims to offer a more sustainable alternative to conventional jet fuel-burning engines. Beyond Aero also has plans to develop commuter jets and larger aircraft in the future. Challenges include hydrogen storage and thermal management for aviation use. The company has already secured funding from investors including Initialized and Air France.
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Hydrogen Mem-Tech secures funding to expand clean hydrogen production
Entrackr
·
8m ago
Medial
Hydrogen separation technology startup Hydrogen Mem-Tech has secured a strategic investment co-led by Peak Sustainability Ventures and London-based AP Ventures. This investment grants Peak a 10.5% ownership stake, positioning them as a vital partner in Hydrogen Mem-Tech’s global expansion and mission to advance sustainable energy solutions. The Norway-based Hydrogen Mem-Tech is supported by prominent climate investors, including Saudi Aramco Energy Ventures, Shell Ventures, Yara Growth Ventures, and SINTEF. According to a press release, the funds will be used to scale operations, develop a new hydrogen separation unit with five times the current capacity, and accelerate green hydrogen production globally, with a particular focus on making the technology feasible for India’s energy sector. Founded in 2017, Hydrogen Mem-Tech aims to drive the green transition with its state-of-the-art hydrogen separation technology, integrated with carbon capture. The company's flagship product, Palladium Separators, is a patented technology that converts bio- and natural gases into pure hydrogen, catering to various applications, including fuel cells for vehicles and industrial processes. The technology enables the separation and purification of ultra-pure hydrogen for use in fuel cells in vehicles, heavy trucks, buses, trains, and ships. Samir Shah will join Hydrogen Mem-Tech’s board of directors. The company’s membrane-based separation technology provides an efficient solution for extracting hydrogen from various gas streams and green ammonia applications, offering significant cost and efficiency advantages. Hydrogen Mem-Tech asserts that its innovation will contribute substantially to achieving global sustainability goals. Peak Sustainability Ventures, a sustainability-focused venture capital fund, aims to support breakthrough innovations in sectors like new energy, water, food systems, and climate tech. Its portfolio includes companies like Indra Water, SustLabs, and Proeon.
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Apple just added a bunch of new products without a big launch event — here's what's new
Business Insider
·
1y ago
Medial
Apple recently released new products and accessories including a new 13- and 15-inch MacBook Air with improved performance thanks to the M3 chip. The laptops support two external displays and have faster WiFi capabilities. Apple also introduced new color options for iPhone 15 cases and Apple Watch bands, along with silicone cases with MagSafe charging for iPhones. The new band colors include light blue, ocean blue, soft mint, sunshine, raspberry, and pink. The products are now available for pre-order and will be released on March 8.
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Blue Lotus, NAV Capital invest in renewable energy firm Matrix Gas
VCCircle
·
1y ago
Medial
Investment firms Blue Lotus and NAV Capital have invested in Matrix Gas & Renewables Ltd, a green hydrogen infrastructure developer and natural gas aggregator. Matrix, a Gensol Group company, has raised INR 350 crore ($42.2 million) in its pre-IPO round. The funds will be used to expand market share for gas aggregation, acquire city gas distribution assets, and fund ongoing capital expenditure plans. The investment will also help set up green hydrogen production plants and a hydrogen electrolyser manufacturing plant in consortium with Gensol Engineering.
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Deepika Padukone invests in coffee chain Blue Tokai
Money Control
·
1y ago
Medial
Actress Deepika Padukone has made an investment in Blue Tokai Coffee Roasters, a homegrown coffee brand. The amount of the investment has not been disclosed, but it is part of Blue Tokai's extended Series B round, which raised $30 million earlier this year. Padukone joins other investors in the company, and Blue Tokai plans to use the funds to expand its business, introduce new products, and increase its global presence. This investment adds to Padukone's diverse portfolio of Indian startups.
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China's Sinopec to form $4 bn JV with Saudi Aramco unit
VCCircle
·
3m ago
Medial
China's Sinopec has partnered with a unit of Saudi Aramco to form a joint venture worth $3.95 billion. Sinopec and its unit will contribute a combined 21.6 billion yuan in cash, while Aramco Asia Singapore Pte. (AAS) will handle the remaining 25% of the investment. The new entity, Fujian Sinopec Aramco Refining and Petrochemical Co, will focus on refining and petrochemical operations in China's Fujian province.
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Aramco boasts a $31 bn dividend despite decline in earnings growth
VCCircle
·
1y ago
Medial
Saudi Arabian oil giant Aramco plans to pay $31 billion in dividends despite a decline in earnings growth in the first quarter. The company reported a 14% drop in net income to $27.3 billion, attributed to lower oil prices and volumes sold. The Saudi government, which owns 82.2% of Aramco, heavily relies on dividend payouts, including royalties and taxes, as it tries to diversify its economy away from crude oil. Aramco expects to declare total dividends of $124.3 billion in 2024.
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Aramco Digital and LTIMindtree to launch KSA Digital and IT Services company
Thehindubusinessline
·
1y ago
Medial
Aramco Digital and LTIMindtree have entered into a partnership to establish an IT services company in Saudi Arabia. The joint venture aims to showcase innovative digital services and industry 4.0 systems integration capabilities, supporting Saudi Arabia's Vision 2030 initiative by generating skilled job opportunities in the technology sector. The collaboration will leverage LTIMindtree's global expertise and Aramco Digital's solutions offerings to deliver digital transformation in various sectors, such as government, energy, manufacturing, and finance. The joint venture is part of the Aramco Namaat Industrial Investments Program.
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