TCL #59: Energy Maxxing for Data Centres
Welcome back to The Chem Ledger. Today's newsletter delves into new deals in the Battery, Energy, Nuclear, Fuel, and Drug Delivery space. If someone forwarded this newsletter to you, you can have direct access here.
Battery
Google has committed an investment of $1 billion to Form Energy for its iron-air battery system. A key application of this technology is in Pine Island, Minnesota, where Google is constructing its data centre. The new data centre initiative includes a 1.4 GW wind power project and a 200 MW solar power project, which will feed into a 300 MW, 100-hour battery developed by Form Energy. Xcel Energy is a key partner in this project and will build and manage the renewable energy generation infrastructure.
Energy
ThomasLlyod Climate Solutions, a European vertically integrated sustainable energy and technology provider, is set to become a publicly listed company through a business combination with Roman DBDR Acquisition Corp II, a blank-check company. This transaction provides ThomasLlyod an entry into the US market for powering data centres. The deal is expected to raise over $240 million and is expected to close in the second half of 2026.
Nuclear Tech
Oak Ridge National Laboratory (ORNL) and Kairos Power have entered into a $27 million strategic partnership to accelerate the development and deployment of advanced nuclear reactors. ORNL will provide expertise and facilities to evaluate Kairos Power's fluoride salt-cooled high-temperature reactor design, which uses molten fluoride salt coolant and robust TRISO fuel. The collaboration includes ORNL manufacturing components for reactor development and testing, and assessing the performance of TRISO fuel after irradiation. The Department of Energy (DOE) is investing up to $303 million in Kairos Power's Hermes demonstration reactors through the Advanced Reactor Demonstration Program. This partnership is the fourth between ORNL and Kairos Power since 2020.
Aviation Fuel
Siemens and the German cleantech company CAPHENIA have partnered to accelerate the scale-up of Sustainable Aviation Fuel (SAF) production. Siemens will provide automation and digitalisation solutions for CAPHENIA's plasma technology, which converts bio-methane into synthesis gas. CAPHENIA's 3-in-1 Plasma Boudouard Reactor (PBR) uses plasma to split bio-methane into synthesis gas at high temperatures, with a process efficiency exceeding 86% due to heat recovery. The synthesized has can further be processed into SAF, reneable diesel, or chemicals with minimal by-products and energy loss.
Drug Delivery
Novo Nordisk has entered into a licensing agreement with Vivtex, potentially worth up to $2.1 billion, to access Vivtex's oral drug-delivery technologies. Vivtex, based in Boston, Massachusetts, develops oral delivery of therapeutics, primarily for gastrointestinal (GI)-related diseases. The partnership seeks to overcome the challenge of oral delivery for drugs that are typically injectable due to poor GI absorption. The deal allows the Danish drugmaker to lead development, manufacturing, and commercialisation of any resulting drugs, with Vivtex eligible for significant payments and royalties.