OIL - Google Microsoft and Nucor announce a new initiative to aggregate demand to scale the adoption of advanced clean electricity technologies | Benzinga
The companies will work to address barriers to early-stage commercial project deployment.
CHARLOTTE, N.C., March 19, 2024 /PRNewswire/ -- Google LLC, Microsoft Corporation, and Nucor Corporation today announced they will work together across the electricity ecosystem to develop new business models and aggregate their demand for advanced clean electricity technologies. These models will be designed to accelerate the development of first-of-a-kind (FOAK) and early commercial projects, including advanced nuclear, next-generation geothermal, clean hydrogen, long-duration energy storage (LDES) and others. As a first step, the companies will issue an RFI in several US regions for potential projects in need of offtake, and encourage technology providers, developers, investors, utilities and others interested in responding to get in touch here.
According to the International Energy Agency (IEA), firm, dispatchable clean electricity technologies and advanced energy storage systems are needed to cost-effectively decarbonize grids and help the world meet its growing electricity demand with carbon-free energy sources. These advanced clean electricity technologies can fill gaps in wind and solar production and support grid reliability – needs that today are still being met by fossil fuel generation.
Yet, these advanced clean electricity ...