Powering the next century of growth
Cloover reached profitability three years after launch at a $350 million revenue run-rate, with more than $1.3 billion in financing capacity behind it. Its bet: finance independent installers, then pool their systems into a virtual power plant, rather than owning the customer.
Battery deployment keeps setting records, but storage financing has split in two. Contracted platforms like Actis-backed Nozomi lock in 15-20 year revenue; Equinor's East Point takes merchant risk in Texas. The chemistry is commoditising. The contract is the asset.
Google, NVIDIA and Emerald AI have launched the AI Energy Management Alliance, claiming flexible data centers can unlock 100 GW of grid capacity. The demonstrations are real but narrow, and the figure depends on market rules that do not exist yet.
Bluecore Energy raised $50M to mount a conventional water-cooled reactor on a barge that can power ports, coastal industry and AI data centres. The reactor is deliberately ordinary; the licensing route is the innovation.
Yara's Sluiskil facility captures up to 800,000 tonnes of CO2 a year — half a percent of Dutch emissions — and ships it to Norway for burial 2.6 km beneath the seabed. The capture works; storage capacity is the bottleneck.
A half-megawatt AEM electrolyzer is now installing at the Port of Antwerp-Bruges, and a Repsol pilot projects 50,000-hour stack life. The 65% capex claim is the one investors have to test.
The AI bottleneck moved from chips to turbines. GE Vernova’s backlog hit 116 GW and Siemens Energy sits near 70 GW, with deliveries booked into 2031. The equipment layer is now the scarcest input in the build-out.
Geothermal Engineering Ltd became the first producer in Europe to turn deep geothermal brine into technical-grade lithium carbonate, clearing 99.3% purity at its United Downs plant in Cornwall. The milestone reframes deep geothermal as a two-revenue asset.