Decarbon Debrief: P6 Technologies Secures $3.25M in Seed Round to Enhance Carbon Intensity Measurement for Transportation Fuel and Petrochemical Firms
Startup brings automated CI scores to fuel companies.
🚨 The Lead
The top story of the week.
P6 Technologies, an emerging leader in enterprise software for transportation fuel and petrochemical firms, has raised $3.25 million in initial investment from Goose Capital, with participation from Tupper Lake Partners, Veritec Ventures, and Artemis Energy Partners.
P6 Technologies has taken its first external finance, setting the firm for rapid expansion. The investment funds will be used to expedite the development and launch of its breakthrough Life Cycle Assessment (LCA) business software platform, which is designed to meet the changing issues that fossil fuel-based industries confront in their efforts to decarbonize their goods. Bobby Tudor, a Goose Capital member and the founder of Artemis Energy Partners, will join the P6 Technologies Board of Directors, significantly contributing to the company's development trajectory.
Todd’s Take:
Carbon intensity (CI) scores will take center stage in supply chain discussions across every industry. Understanding sources and uses of materials will be critical in these discussions along with scope 1, 2, and 3 emissions for companies.
P6 Technologies and other firms are establishing technology frameworks to provide CI scores in near real-time. No easy task since in a corporate environment.
What is Life Cycle Analysis (LCA)?
Life Cycle analysis, also known as life cycle assessment (LCA), is a systematic and comprehensive methodology for evaluating the environmental impacts of a product, process, or service throughout its entire life cycle. This life cycle typically includes several stages, from the extraction of raw materials and manufacturing, through distribution and use, to end-of-life disposal or recycling.
Source: ISO 14040 Methodology
Here are the main components of a lifecycle analysis:
Goal and Scope Definition: This initial step involves clearly defining the purpose and boundaries of the analysis. What specific environmental impacts are you interested in assessing? What are the functional unit and system boundaries?
Inventory Analysis: In this phase, data is collected on all the inputs (e.g., energy, materials, water) and outputs (e.g., emissions, waste) associated with the product or process at each stage of its life cycle. This involves quantifying the resource consumption and emissions at each step.
Impact Assessment: Once the inventory data is collected, it is then used to assess the potential environmental impacts. This can include evaluating the effects on climate change, resource depletion, air and water pollution, and other relevant environmental indicators.
Interpretation: The results of the impact assessment are interpreted to draw conclusions and identify areas where improvements can be made. Stakeholders can use this information to make informed decisions about reducing environmental impacts.
Improvement and Optimization: Based on the findings, strategies can be developed to reduce the environmental impacts of the product or process. This may involve redesigning the product, changing materials, optimizing production processes, or altering transportation and distribution methods.
Want to know more? Check out the MIT course video:
✨ This Week in Decarbonization
Highlights from the week’s most popular stories in industrial decarbonization.
🌊 In First Deployment, Ebb Carbon Uses Seawater to Capture & Store CO2
📝 VVC Strategic Investment
🙌 Cascade Biocatalysts Secures $2.6 M to Scale Enzymes for Biomanufacturing
⚡ Reliability and Sustainability of Ontario’s Electric Grid Set to Improve Through Joint Venture by Convergent Energy and Power and Alectra Energy Solutions
🍃Element United: Pioneering Global Decarbonization Efforts
💧 Lummus and Biohydrogen Technologies Establish Partnership to Develop and Deploy Blue Hydrogen Technology
🚀 Singularity Energy Released a New Framework for Defining Voluntary Clean Energy Market Boundaries
🤝 Celonis Appoints Carsten Thoma as President to Advance Innovation and Sustainable Growth
🔥 SDG&E PIONEERS VIRTUAL POWER PLANT TO HELP EASE STRAIN ON THE POWER GRID DURING EXTREME HEAT
🏆 Technip Energies Awarded a Significant Contract for Hydrogen Production Unit at bp’s Kwinana Biorefinery
🚚 HYZON MOTORS SUCCESSFULLY COMPLETES FIRST CUSTOMER DEMO OF LIQUID HYDROGEN FUEL CELL ELECTRIC TRUCK
🟢 China's First 10,000-ton Photovoltaic Green Hydrogen Pilot Project Now Fully Built and Put into Production
☁️ Capture This CO2
A single carbon capture or hydrogen project in industrial decarbonization.
Boundary Dam 3 CCS
🏭 Operator: SaskPower
📌 Location: Saskatchewan
⛽ Industry: Power Generation
🦺 Project Status: Operational
🌱 Project Type: Commercial
The Boundary Dam (BD3) in Saskatchewan, Canada coal-fired power plant, Unit 3 underwent a refurbishment program that included the installation of CO2 collection facilities with a capture capacity of around 1 Mtpa of CO2. Most of the CO2 is transferred by pipeline and used for improved oil recovery at the Weyburn Oil Unit, also in Saskatchewan. Channels are used to deliver some of the gathered CO2 to the neighboring Aquistore Project for specialized geological storage.
With the help of this project, an outdated coal-fired power plant was converted into a dependable, long-term generator of 120 MW base load energy that may cut annual greenhouse gas emissions by one million tonnes of carbon dioxide (CO2).
In comparison to other coal units and a comparable natural gas unit, SaskPower's Boundary Dam Unit #3 is currently delivering inexpensive coal electricity for more than 100,000 households and businesses for at least the next three decades.
95% of the coal-fired power plants in the world may employ SaskPower's technology, which uses CCS as a way to cut greenhouse gas emissions from big power sources.
🌍 Elsewhere
Highlights from research, data, or media partners covering the Energy Transition.
Saudi Arabia's Crown Prince Mohammed bin Salman and Japanese Prime Minister Fumio Kishida agreed to work together on technology transfer to support the Middle East's economic diversification and decarbonization.
To strengthen their bilateral cooperation, the two nations will begin a strategic conversation. While Saudi Arabia invests in cutting-edge Japanese technology to create a more diversified economy, Japan seeks to secure a steady supply of oil. In the energy sector, the two parties signed 26 memorandums of cooperation, giving Riyadh technology to increase its capacity for solar power generation and for the production of hydrogen and ammonia as clean fuels. Saudi Arabia is interested in Japan's expertise in energy technology as it works to lessen its reliance on oil exports and strengthen the private sector as part of its Vision 2030 economic reform plan.
That's it for this week. If you'd like to dive into the data a little more with me, hit reply.