Sustainable Energy & Infrastructure

Our January 2024 Energy & Sustainability Washington Update covers the upcoming American Climate Corps listening sessions, opposition to the Treasury Department’s Clean Vehicle Tax Credit, advancements toward a national standard for EV charging networks & connectors,  federal funding for an Energy Auditor Training program, a new DOE Office of Critical and Emerging Technology, and an update on new opportunities under the Bipartisan Infrastructure Law and Inflation Reduction Act.

Read about some of the significant drivers of the rapid growth of electric storage resources seen in California and Texas, the market participation opportunities available to electric storage owners in both states, and regulatory and interconnection challenges facing electric storage developers more generally.

Learn about upcoming energy industry events, including Holiday in the Hubs events and an SEIA webinar titled Spotlighting Construction Inclusion in the Solar Industry.

Read about Copernic Catalysts, which develops transformational chemical catalysts to reduce the energy use and carbon footprint of bulk chemical reactions. Copernic has secured $7 million in funding and recently announced a groundbreaking research collaboration with Schrödinger, Inc.

The SEC has still not issued its final climate-related disclosure rule, despite prior indications that the rule would be issued in the fall of 2023 and SEC Chair Gensler’s recent reiteration of his support for the rule.

This issue of Energy & Sustainability Connections includes features on US-Canada Critical Mineral, EV Battery, and Semiconductor Cross-Border Supply Chain Issues, Copernic Catalysts, Inc., plus a legal guide for energy companies using AI, energy policy news from Washington, litigation updates, a roundup of recent M&A activity, and a list of upcoming industry events.

Read about recent M&A activity in the energy and sustainability space, including Superior Industries’ acquisition of Cemco, a manufacturer of vertical shaft impact crushers.

Our December 2023 Energy & Sustainability Washington Update covers the Fifth National Climate Assessment, new funding for climate resilience, the DOE’s new funding opportunity to support the production of advanced batteries and battery materials, new legislation to support bidirectional EV charging, new Bipartisan Infrastructure Law & Inflation Reduction Act opportunities, and the status of the BIL at year two.

Senior VP of ML Strategies John Lushetsky, Private Equity Practice Co-chair Matthew T. Simpson, Member Paul H. Dickerson, and Project Analyst Raj Gambhir delve into the transformative landscape of cross-border supply chains for critical minerals, EV batteries, and semiconductors. Navigating the intricacies of the Inflation Reduction Act, Defense Production Act, and tax credits, the authors highlight how Canadian companies, considered ‘domestic’ under certain legislations, can harness funding and benefits.

Our November 2023 Energy & Sustainability Washington Update covers the House of Representatives Fiscal Year 2024 Energy & Water Spending Bill, the regional clean hydrogen hubs selected to negotiate with the DOE, DOE awards for three new interregional transmission lines, a pending House and Senate bill to modernize American manufacturing, and the Biden administration’s approval of the nation’s largest offshore wind farm and new Bipartisan Infrastructure Law & IRA Opportunities.

Read about Activate Capital, which partners with entrepreneurs building category-defining platforms. Activate recently invested $25 million in weather intelligence start-up Tomorrow.io’s Series E financing and led its $87 million Series E financing round.

Read about the SEC’s approval of amendments to a rule requiring investment funds to invest at least 80% of assets in line with the investment focus suggested by the fund’s name, state regulatory developments, and noteworthy ESG litigation.

Read about recent M&A activity in the energy and sustainability space, including Repsol’s acquisition of ConnectGen for an estimated $715 million.

Learn about upcoming energy industry events, including the Northeast Sustainable Energy Association’s 2023 Annual Meeting and the NY-SEIA New York Solar Summit.

Read about Tesla’s ongoing patent litigation battles with Autonomous Devices and CAP-XX Ltd. and patent infringement cases filed against Tesla in New York and Texas.

The Inflation Reduction Act Benefits panel at Mintz’s Second Annual Energy Transition Summit focused on the benefits and opportunities related to IRA. Tax Member Gregg Benson moderated a discussion with energy officials Martin Toulouse of the DOE and Jonathan Schrag of the Commonwealth of Massachusetts.

During the NET Power fireside chat at Mintz’s Second Annual Energy Transition Summit, company leaders and Mintz Projects and Infrastructure Practice Chair Ayaz Shaikh discussed NET Power’s recent $1.5 billion SPAC business combination with Rice Acquisition Corp. II.

The AI Energy Transition panel at Mintz’s Second Annual Energy Transition Summit delved into the dynamic intersection of artificial intelligence and the evolving energy sector. Climate Change AI Chair and MIT Assistant Professor Priya Donti, Activate Capital Partner Jon Guerster, and Bouyant Ventures GP Allison Myers explored the themes of innovation, funding, and opportunity in a conversation moderated by Member Paul Dickerson.

During the What Regulatory and Commercial Challenges Are Utility-Scale Renewable Energy Projects Facing? fireside chat at Mintz’s Second Annual Energy Transition Summit, Mintz Member Steven Shparber and attorney Omar Bustami discussed the regulatory and commercial challenges facing utility-scale renewable energy projects.

This past summer, the Treasury and Internal Revenue Service (IRS) published proposed Treasury Regulations (88 FR 40528 and 88 FR 40496) under two key provisions of the Inflation Reduction Act of 2022 (IRA) designed to enable taxpayers and tax-exempt entities to monetize certain energy-related federal tax credits. Section 6417  allows certain tax-exempt and governmental entities that historically could not benefit from such tax credits to receive direct payments from the government in lieu of such tax credits. Section 6418 permits taxpayers to transfer all or a portion of certain energy-related tax credits to unrelated parties for cash. By broadening the universe of organizations that are able to make use of energy-related tax credits through the direct pay provisions and creating a more direct pathway for taxpayers interested in financing energy projects to share credits through transferability, these provisions stand to significantly expand the market for investment in energy projects.