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The Northern Lights joint venture, a collaboration between TotalEnergies, Shell, and Equinor, has completed the world’s first commercial CO2 transportation and storage project in Norway. This landmark project is designed to capture and store carbon emissions from hard-to-abate industries across Europe, marking a significant advancement in global decarbonization efforts. Launched in late 2020 as part of Norway's Longship carbon capture and storage (CCS) initiative, Northern Lights includes a terminal for receiving liquid CO2, a 100 km subsea pipeline, and storage facilities located 2,600 meters below the seabed. The first phase of the project can transport and store 1.5 million tons of CO2 annually, with plans to expand capacity to over 5 million tons per year. The project's first CO2 injection is expected in 2025. This milestone, supported by the Norwegian government, establishes a critical CCS value chain for reducing industrial emissions in line with the Paris Agreement targets.

Utility Global, a clean fuel startup, has raised $53 million in a Series C funding round to commercialize its innovative eXERO technology, which converts industrial off-gases into clean hydrogen without the use of electricity. This breakthrough is aimed at helping decarbonize hard-to-abate industries like steel, where renewable energy capacity is limited. The technology leverages the energy within waste gases, offering a cost-effective and scalable alternative to traditional carbon-intensive methods. The funding round was led by the OPG Pension Plan, alongside investors such as ArcelorMittal’s XCarb Innovation Fund, Ara Partners, and Aramco Ventures. The new capital will accelerate eXERO’s commercialization, with plans to deploy the first commercial units by 2026. Utility Global’s recent success includes a demonstration at a steel facility, producing hydrogen from blast furnace off-gases. The company has also partnered with ArcelorMittal to develop commercial facilities at its steel plants, pushing forward industrial decarbonization efforts.