Press statement For immediate release
21 October 2020
Infinite Power, Framatome, Marubeni sign LOI to develop uninterruptible power cell technology
Infinite Power, a UK power company that has developed power cells to produce emissions-free base-load electricity, has signed a Letter of Intent with a German nuclear technology company and a major Japanese trading and investment conglomerate, to develop the technology to provide power supply in extreme conditions.
Infinite Power Co., based in Cumbria, has signed the Letter of Intent (LOI) with Marubeni Corp and of Japan, and Framatome GmbH of Germany to develop the technology to supply uninterruptible power inside nuclear energy facilities, waste depots and in transport applications.
Framatome is majority owned by French power giant EDF, while Mitsubishi Heavy Industries of Japan retains at 19.5% stake.
“This represents another key application of our unique power technology,” said Infinite Power CEO Robert McLeod. “Providing uninterruptible power in extreme conditions is a powerful selling point for our technology.”
Infinite Power is seeking to raise 25 million pounds to construct its first production facility in Britain to make power cells to provide clean energy to industry. Discussions are ongoing with investors in the US and UK.
The company has developed power cells which operate in a similar way to how solar cells capture the sun’s energy and convert it into electricity. Instead of converting the sun’s rays, Infinite Power’s cells converts the radiation wave emitted from the natural decay of a radioisotope.
The technology was developed at a research and development facility in Cumbria and is emissions-free.
The company has already separately signed an LOI with Marubeni Nuclear Fuel Dept of Japan to seek potential markets for the utilisation of this unique clean power technology across various potential markets within Japan.
The company’s technology is scalable and can be applied from smaller power plants of, for example, 10 megawatt (MW) to provide power to remote communities up to large power plants in excess of 1 gigawatt.
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The unraveling of a proposed joint venture between two coal mining giants in the Powder River Basin in the U.S. has cast further uncertainty across the beleaguered coal region.
The U.S. District Court for the Eastern District of Missouri recently upheld the Federal Trade Commission’s decision to block a Peabody Energy Corp. and Arch Resources Inc. joint venture of certain Powder River Basin and Colorado assets. The FTC said in a Sept. 29 statement that the deal would hurt competition and “likely would have raised the price of coal to the utilities, and ultimately to consumers.” The two producers accounted for 59.2% of the coal mined from the Powder River Basin in the first half of 2020, according to S&P Global Market Intelligence data.
Article source: wwf.org.uk
The Intergovernmental Panel on Climate Change (IPCC) Special Report on Global Warming highlights climate impacts at the current ~1°C global warming as well as the risks of reaching a 1.5°C and the irreversible losses that would take place at 2°C or more warming. We need political leadership to immediately cut emissions across all sectors of the economy, in order to limit warming to 1.5°C.
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Global warming is likely to be the greatest cause of species extinctions this century. The IPCC says a 1.5°C average rise may put 20-30% of species at risk of extinction. If the planet warms by more than 2°C, most ecosystems will struggle.
Many of the world’s threatened species live in areas that will be severely affected by climate change. And climate change is happening too quickly for many species to adapt.