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SoCalGas and EVOLOH Research Project Helps Make Hydrogen and Electrolyzer Production More Affordable

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LOS ANGELES and SANTA CLARA, Calif., July 3, 2024 /PRNewswire/ — Southern California Gas Co. (SoCalGas) and EVOLOH Inc., an anion exchange membrane (AEM) electrolyzer technology developer, have completed a joint research project that resulted in enhancements to the current electrolyzer manufacturing process and technology. Overall, the enhancements achieved in the project could reduce the capital costs of the electrolyzer technology by approximately 25% and could help make the cost of clean renewable hydrogen more affordable.

EVOLOH’s AEM is made with readily available materials and utilizes a roll-to-roll manufacturing process. This enables a shorter and more reliable supply chain as well as a lower-cost, rapid production process for electrolyzer stack development. The project was able to achieve a 15% increase in hydrogen production efficiency to EVOLOH’s Nautilus™ series electrolyzer stack, the core component of an electrolyzer that splits water into hydrogen and oxygen. The increased efficiency also helps extend the equipment lifetime of the stacks compared to traditional techniques.

“Meeting the growing demand for clean renewable hydrogen production will require an extraordinary expansion of the current electrolyzer market,” said Jawaad Malik, chief strategy and sustainability officer at SoCalGas. “Innovative projects like this can help significantly reduce electrolyzer system costs and production time and enable clean renewable hydrogen production to become more cost competitive with traditional energy sources.”

SoCalGas’ Research, Development, and Demonstration (RD&D) Program helped fund the project and provided technical assistance with EVOLOH’s development of high-speed coating methods for AEM electrolyzers. The electrolyzer stacks are designed to be compact, modular and are capable of being scaled up to 24 megawatts each, which makes them well-suited for large-scale industrial applications.

“Currently, electrolyzer manufacturing and hydrogen production is expensive. Electrolyzers can be difficult to make, transport and install, and certain current technologies require problematic supply chains,” said Dr. Jimmy Rojas, EVOLOH’s chief executive officer. “When our technology is produced using renewable energy, hydrogen becomes a versatile, flexible and carbon-free energy platform that opens up new pathways for tackling some of the thorniest climate problems—like heavy transport, steelmaking, fertilizer production and long duration storage.” 

The technology will soon be scaled up at EVOLOH’s new manufacturing Center of Excellence in Lowell, Massachusetts with a goal of producing 3.75GW per year by 2025 in electrolyzer stacks and up to 15GW in 2027. EVOLOH will also begin MW-scale testing at its new headquarters in Santa Clara, California later this year.

SoCalGas’ RD&D Program plays a key role in developing and demonstrating innovative products and technologies that can promote decarbonization across the natural gas value chain and a diversified portfolio of cleaner energy sources. Learn more about how SoCalGas is working to help shape California’s 21st century energy system at socalgas.com/rdd.

About SoCalGas

SoCalGas is the largest gas distribution utility in the United States serving approximately 21 million consumers across approximately 24,000 square miles of Central and Southern California. SoCalGas’ mission is to build the cleanest, safest, most innovative energy infrastructure company in America. SoCalGas aims to deliver affordable, reliable, and increasingly renewable gas service through its pipelines to help advance California’s clean energy transition by supporting energy system reliability and resiliency and enabling the integration of renewable resources. SoCalGas is a recognized leader in its industry and community, as demonstrated by being named one of Reuters’ Top 100 Innovators Leading the Global Energy Transition and Corporate Member of the Year by the Los Angeles Chamber of Commerce. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas

About EVOLOH

Founded in 2020, EVOLOH Inc., is revolutionizing the manufacturing of water electrolyzers to make low-cost clean hydrogen production possible at gigawatt scale anywhere in the world. Nautilus™ stacks, the company’s patented electrolyzers, leverage advanced liquid alkaline technology to minimize costs and technical risks, while also maximizing manufacturing productivity, durability and efficiency. EVOLOH is backed by Engine Ventures, NextEra Energy Resources, 3M Ventures, and supported by Breakthrough Energy Fellows and others. For more information, visit https://evoloh.com/

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. 

In this press release, forward-looking statements can be identified by words such as “believe,” “expect,” “intend,” “anticipate,” “contemplate,” “plan,” “estimate,” “project,” “forecast,” “envision,” “should,” “could,” “would,” “will,” “confident,” “may,” “can,” “potential,” “possible,” “proposed,” “in process,” “construct,” “develop,” “opportunity,” “preliminary,” “initiative,” “target,” “outlook,” “optimistic,” “poised,” “positioned,” “maintain,” “continue,” “progress,” “advance,” “goal,” “aim,” “commit,” or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. 

Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, (iii) obtaining third-party consents and approvals and (iv) third parties honoring their contracts and commitments; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations and other proceedings, and changes to laws and regulations, including those related to tax and trade policy; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate and sustainability policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. 

These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC’s website, www.sec.gov, and on Sempra’s website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. 

Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC.

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SOURCE Southern California Gas Co.

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Bloomberg Accelerates Financial Analysis with Gen AI Document Insights

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Research Analysts & Corporate Decision Makers Can Ask Complex Questions within Company Documents

NEW YORK, April 7, 2025 /PRNewswire/ — Bloomberg today announced the launch of AI-Powered Document Insights which uses generative AI to make it easier for research analysts and corporate decision makers to quickly surface insights from a company document by asking questions in everyday conversational language. This innovative research solution is an evolution of Bloomberg’s AI-Powered Earnings Call Summaries, complements AI-Powered News Summaries, and links seamlessly with Bloomberg’s other purpose-built analytical tools and workflows as part of the company’s mission to reimagine the Bloomberg Terminal for the age of AI.

AI-Powered Document Insights provides users with robust search and summarization capabilities made possible by Bloomberg’s decades of expertise and more than 15 years of leadership in applying AI in the financial domain. Bloomberg Intelligence analysts helped train the generative AI models so they more accurately understand the nuances of financial language by using Bloomberg’s AI guardrail systems. The research solution enables customers to adjust their positions and investment views on a company by quickly analyzing text and structured data within a company document from a vast library of trusted and premium content. This research library on the Bloomberg Terminal includes more than 200 million company documents, more than 5,000 Bloomberg News stories published each day on the markets, economies, industries, and companies that matter, as well as research content like Bloomberg Intelligence reports which cover thousands of companies.

Magdalena Richardson, Credit Trading Strategist at NatWest Markets Plc, said: “What I like about AI-Powered Document Insights is that it provides a great summary of a company’s comments when asked a direct question. For example, within an earnings call transcript for an original equipment manufacturer, the solution can be asked about the impact of tariffs. I think this solution is a godsend on a day when you have multiple earnings calls and cannot attend them all or need to revisit a topic.”

Thymen Rundberg, Equity Research Associate at ING, said: “What I find valuable is that AI-Powered Document Insights allows me to quickly find specific information within earnings call transcripts, saving me time versus manually searching through the document. The tool also allows me to stay up to date with more peers of companies in my coverage. This was definitely a more tedious task before.”

Bloomberg will continue to use generative AI to enhance research solutions like AI-Powered Document Insights with additional document coverage, product features and integrations to help customers discover more answers and actionable insights with a user experience that is easy and comprehensive. Click here to request to join the beta program for our future research solutions enhanced by generative AI. 

Starting today, customers can explore the new interface and its features like ‘Ask a Question’, where users can either explore their hypothesis about developing investment themes like “tariffs” or retrieve specific information like “procurement costs.” The feature covers company documents and transcripts for earnings calls, conference presentations, investor days, capital markets days, shareholder meetings, M&A calls, sales results calls, guidance calls, and more. The solution also incorporates transparency links to highlight relevant excerpts in the original document and audio replays to hear the tone and tenor of executives and corporate spokespeople. ‘Key Notes’ provides a structured overview of Bloomberg selected topics raised in company presentations.

Suzanne Szur, Research and Companies Product Manager at Bloomberg, said: “With AI-Powered Document Insights, we’re delivering our customers a solution that is infused with financial domain knowledge. It’s been developed in close collaboration with our customers and evaluated by our team of product, data and technology experts who understand the importance of responsible AI down to the design features. Very soon we’ll launch additional research solutions to help financial professionals and their teams find unique insights, improve their research methods, and develop investment strategies tailored to various time horizons in this uncertain macro environment.”

Bloomberg’s research solutions help transform the investment research and analysis process so clients can add actionable resources to their data and tech stacks for single-desktop and enterprise-wide use. Clients can optimize their research offering so that trusted and consistent data is deeply integrated into research and production workflows throughout their enterprise, and their unique views are quickly distributed to counterparties. Bloomberg’s research solutions provide organizations access to consistent, high-quality data and analytics from Bloomberg as well as hundreds of valued content partners.

For teams of quants, research analysts and data scientists, Investment Research Data products offer end-to-end solutions to power workflows across the enterprise. This enables firms to test their investment hypotheses rigorously with granular data across asset classes and deep point-in-time history. The datasets are seamlessly interconnected with other content, including alternative data for both public and private companies, and available via a number of flexible delivery mechanisms, including the cloud. Bloomberg’s Research Management Solutions (RMS) Platform is also designed to optimize the research process by driving front-office efficiency, facilitating collaboration around ideas and throughout the investment lifecycle. Bloomberg’s RMS is also interoperable with Bloomberg’s other enterprise products, including portfolio and risk analytics offerings and leading order and investment management technology solutions, for a more comprehensive, end-to-end workflow.

About AI at Bloomberg
Since 2009, Bloomberg has been building and using artificial intelligence (AI) in the finance domain – including machine learning (ML), natural language processing (NLP), information retrieval (IR), time-series analysis, and generative models – to help process and organize the ever-increasing volume of structured and unstructured financial information. With this technology, Bloomberg is developing new ways for financial professionals and business leaders to derive valuable intelligence and actionable insights from high-quality financial information and make more informed business decisions.

About the Bloomberg Terminal
For more than four decades, the Bloomberg Terminal has revolutionized the financial services industry by bringing transparency and innovation to the capital markets. Trusted by the world’s most influential decision-makers, the Terminal provides real-time access to news, data, insights and trading tools that help our customers turn knowledge into action.

About Bloomberg
Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com/company or request a demo.

 

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SOURCE Bloomberg L.P.

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ZERO INDUSTRIAL ANNOUNCES $10 MILLION SERIES A INVESTMENT TO ACCELERATE DEVELOPMENT OF THERMAL ENERGY STORAGE IN NORTH AMERICA

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CHARLESTON, S.C., April 7, 2025 /PRNewswire/ — Zero Industrial, Inc. (“Zero Industrial”), a leading development company decarbonizing industrial heat by utilizing thermal energy storage (“TES”) systems, announced today that it successfully closed $10 million in funding led by Evok Innovations (“Evok”) with participation from Rusheen Capital Management (“Rusheen”).

“We are excited to partner with Evok and Rusheen to help us accelerate the deployment of thermal energy storage projects in North America,” said Ted Kniesche, founder and CEO. “We are rapidly originating project opportunities with industrial customers who want to reduce their energy costs and lower their carbon footprint by using stored electricity as thermal energy, instead of burning gas, fuel oil or coal.”

Zero Industrial was founded in 2024 by Ted Kniesche and Jim McDermott to decarbonize industrial heat using commercially-available TES systems at industrial facilities. The company provides full project development services to its customers, including technology selection, project design and engineering of each TES system. Importantly, Zero Industrial will fully finance each project and sell clean heat or steam to its customers under a long-term Heat-as-a-Service contract without any upfront capital outlay required by the industrial facility. 

“We are excited to partner with Ted and his team at Zero Industrial to build a market leading development business that will accelerate the decarbonization of industry – one of the hardest to abate sectors of our economy,” said Naynika Chaubey, Partner at Evok Innovations. “We continue to see massive growth from cheap, intermittent renewable generation, coupled with increasingly impacted electrical grids. Zero Industrial capitalizes on these market challenges by deploying thermal storage projects that will shift curtailed or off-peak clean electricity to baseload heat and steam used by industries globally.”

Zero Industrial is actively originating and developing projects in the United States and Canada and seeking industrial customers looking to decarbonize their industrial heat, eliminate criteria pollutants and reduce energy costs and volatility.

About Zero Industrial, Inc.

Zero Industrial is a leading developer of industrial decarbonization projects, utilizing thermal energy storage technologies to eliminate the combustion of fossil fuels for heat and steam production at industrial facilities. Zero Industrial offers its customers a full end-to-end development solution from design and engineering to project execution and delivery. Heat generated from its projects will be sold under a Heat-as-a-Service agreement without requiring any capital investment from its customers. Zero Industrial is actively originating and developing projects in the United States and Canada and exploring additional international markets. For more information, please visit www.zeroindustrial.energy

About Evok Innovations

Evok is a clean tech venture capital fund focused on supporting exceptional entrepreneurs with bold visions for scaling novel technologies within heavy industry. At Evok, we provide value beyond capital by leveraging our team of technologists and company builders, along with our limited partner group—which includes major financial institutions and industrial leaders—to help accelerate the success of our companies.

In 2016, Evok was founded with the thesis of collaborating with industrial partners to invest in and scale novel technologies in the energy sector. With the launch of Evok Fund II in 2022, we expanded this mandate, bringing in strategic partners across new industrial verticals, including critical minerals. Evok is actively investing out of Fund II, a $284M USD fund focused on supporting Series A+ companies in North America that are taking novel approaches to supporting the energy transition across a wide array of sectors and industries. For more information, please visit: www.evokinnovations.com

About Rusheen Capital Management

Rusheen Capital Management (“RCM”) is a Santa Monica-based private equity firm specializing in investments that promote sustainability and resource efficiency across the energy transition landscape. Founded in 2015, RCM focuses on growth-stage companies in sectors such as carbon capture and utilization, energy transition, low-carbon energy, and water sustainability. Since 2003, RCM’s principals founded, ran, and invested in over 40 energy transition companies across the entire industrial economy. For more information, please visit www.rusheen.com.

For more information, contact Sara Holba at info@zeroindustrial.energy

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SOURCE Zero Industrial, Inc.

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MakeWell Announces Free Access to AI-Driven Healthcare Companion App in Recognition of the WHO’s World Health Day

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SAVANNAH, Ga., April 7, 2025 /PRNewswire/ — In honor of the annual World Health Day, MakeWell, a pioneering AI healthcare start-up, is proud to announce that its AI-driven healthcare companion app is now available free of charge on the App Store and Google Play. This initiative aligns with MakeWell’s commitment to expanding access to critical healthcare information and resources, particularly for underserved populations worldwide.

In keeping with this year’s theme, “Healthy Beginnings, Hopeful Futures” MakeWell notes that approximately 300,000 women lose their lives during pregnancy or childbirth each year. The vast majority of these deaths occur in low resource settings due to preventable causes. MakeWell’s AI-powered app is designed to bridge healthcare gaps by providing real-time, personalized guidance on maternal health, chronic disease management, and general well-being. The MakeWell app supports 200+ languages, broadening its worldwide appeal.

“With the launch of our free app, we are taking a step toward making healthcare more accessible to everyone, regardless of geography or economic status,” said Daniel Carroll, Founder of MakeWell. “No one should lose their life due to a lack of medical knowledge or access to care. Our AI-driven platform empowers individuals, putting reliable, evidence-based health insights right at their fingertips.”

MakeWell’s app offers features such as symptom assessments, possible treatment/care options, preventative health recommendations, and connections to local healthcare resources. By leveraging advanced AI technology, it serves as a 24/7 digital health companion, supporting individuals in making informed medical decisions. The MakeWell app supports 200+ languages, broadening its worldwide appeal.

The MakeWell app is now available for free download in the App Store. To learn more about how MakeWell is working to create a healthier world, please visit us at www.makewell.ai 

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SOURCE MakeWell

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