Chinese Scientists are Developing a Coal Fuel Cell Which Can Generate Electricity Without Combustion and Carbon Emissions: It Also Recycles Carbon On-Site

      Fuel cells produce energy without combustion. Instead, they make energy via chemical reactions. A research team led by Xie Heping of the Chinese Academy of Sciences at Shenzhen University has developed what they describe as a zero-carbon-emission direct coal fuel cell (ZC-DCFC). To release the electrochemical energy of the coal, it is pulverized into a fine powder, dried, purified, and treated before being fed into the anode chamber. Oxygen flows into the cathode, where the coal particles are directly oxidized through an oxide membrane, producing an electrochemical reaction that generates electricity.

     According to Interesting Engineering:

“At the outlet of the anode, the carbon dioxide produced by the reaction is captured directly on-site and then either catalytically transformed into useful chemical feedstocks such as synthesis gas or chemically stabilized into compounds like sodium bicarbonate. This closed-loop handling of carbon contributes to a process that is described as both silent and clean in operation.”

     This is much different than burning coal to produce heat to run steam turbines. Those processes are limited by the thermodynamics of heat engines, which limit thermal efficiency to 40%, which is known as the Carnot efficiency ceiling. Zie notes that:

“…the zero-carbon-emission direct coal fuel cell (ZC-DCFC) avoids the energy losses associated with combustion and heat-based engine systems, allowing for significantly higher theoretical efficiency.”

     This technology has been slowly advancing since 2018, as “challenges in materials science, cell durability, fuel processing, and the ability to maintain continuous coal feed” have been addressed.

“The latest version of the fuel cell, though, improves stack scalability, long-term stability, carbon conversion efficiency, and overall system integration, according to the research team.”

“Xie also noted that the concept could be applied to deep coal seams located about 1.2 miles underground. Instead of mining and transporting coal to the surface – a costly and complex process – the system could convert coal into electricity in situ, transmitting only power upward. In turn, this approach could help offset pressure on supply as shallow coal reserves gradually diminish.”

     Capturing and utilizing CO2 on-site is a key feature of the fuel cell. High-purity CO2 is captured at the anode and transformed into syngas and/or minerals. There are still many details to be worked out and improved with this technology, but it is a significant effort to extract energy from coal in a much more sustainable way.

References:

 

China is developing a technology that converts coal into electricity with nearly zero carbon emissions. Sarah Jones. Daily Galaxy. June 4, 2026.  China is developing a technology that converts coal into electricity with nearly zero carbon emissions

China’s electrochemical system converts coal into electricity with no direct carbon emission. Chinese researchers have developed a coal-based fuel cell that generates electricity through an electrochemical process rather than combustion. Bojan Stojkovski. Interesting Engineering. April 26, 2026. China's tech turns coal into electricity with no direct carbon emission

Air Pollution from Satellites Via Rocket Launches and Re-Entries is Dimming the Sun by Lingering in the Upper Atmosphere: It is an Ongoing Geoengineering Experiment, Says New Paper

  

     A new paper in Earth’s Future explores the geoengineering effects of rocket launches and re-entries related specifically to satellite mega-constellations (SMCs). The main effective source of air pollution and dimming is particulate matter, specifically black carbon, or soot, from the combustion of kerosene used as propellant. Since many of these particulates are emitted above the troposphere, they can act much like small-scale geoengineering experiments. In light of that, the paper provides some important data about this source of solar dimming. Black carbon lingers much longer above the troposphere than it does in the lower atmosphere, where it drops to the ground much more quickly, resulting in a potential of 540 times the effect on climate. This amplification is due to the soot staying in the upper atmosphere for years instead of days or weeks.

     The paper focuses on the emissions of SMCs, noting its share of space sector emissions:

“Using data from rocket launches and satellite deployments between 2020 and 2022, the team projected emissions out to the end of the decade. The analysis showed that in 2020 these megaconstellations contributed about 35% to the total climate impact from the space sector and will climb to 42% by 2029.”

     The researchers note that by 2029, the amount of this particulate matter accumulating in the upper atmosphere will have similar impacts to a geoengineering experiment.

     Project lead, Professor Eloise Marais (UCL Geography) said:

“The space industry pollution is like a small-scale, unregulated geoengineering experiment that could have many unintended and serious environmental consequences. Currently the impact on the atmosphere is small, so we still have the chance to act early before it becomes a more serious issue that is harder to reverse or repair. So far there has been limited effort to effectively regulate this type of pollution.”

“The cooling effect from the reduction in sunlight that we calculate with our models may sound like a welcome change against the backdrop of global warming, but we need to be extremely cautious.”

     The researchers also noted that this is likely to be an underestimate since the data used was from 2020-2022, when there were fewer SMCs in orbit. SMCs, such as those launched by Starlink, have significantly increased the number of launches and re-entries. Starlink currently has about 12,000 satellites in orbit. They note that early estimates of an additional 65,000 satellites in orbit by 2030 are likely to be underestimated.

     Lead author Dr. Connor Barker (UCL Geography) said:

“Rocket launches are a unique source of pollution, injecting harmful chemicals directly into the upper layers of the atmosphere and contaminating Earth's last remaining relatively pristine environment. Though this soot’s impact on climate is currently much smaller than other industrial sources, its potency means we need to act before it causes irreparable harm.”

     They also analyzed the potential of SMCs to increase ozone depletion and found that the effect on ozone would likely be small, since most comes from propellants that emit chlorine, and few SMCs emit chlorine. They generally burn kerosene instead. However, it is estimated that there are enough rockets that burn fuels that emit chlorine to result in a little less than 10% of global ozone-depleting emissions. The SMCs are designed to be temporary, to burn up on re-entry, and be replaced by additional launches.

     More information is given in the paper’s conclusions about the effects of SMCs and the methodologies of the study:

“Satellite megaconstellations (SMCs) have grown rapidly since the first operational satellites were launched in 2019, to now comprise almost three-quarters of satellites in low-Earth orbit and most propellant consumed. Further rapid expansion is expected in the coming decades, leading to significant increases in launch rates to maintain megaconstellation populations and in re-entry rates as these relatively short-lived satellites reach end-of-life. Here we use an emission inventory of the major air pollutants from rocket launches and object re-entries at the dawn of the megaconstellation era (2020–2022). We evaluate the NOx emission factor used in the emission inventory against high-altitude aircraft observations from the SABRE campaign and project emissions to 2029. We implement these emissions in the GEOS-Chem model coupled to the RRTMG radiative transfer model to quantify O3 loss and radiative forcing attributable to SMCs.”

     They analyze trends in propellant consumption and the emissions of SpaceX’s Falcon 9 rockets to arrive at their predictions.

      While those critical of geoengineering often point to the possibility of unintended consequences, it is not certain that there are any as of yet or whether there will be. This study and subsequent quantification of upper atmosphere emissions should be important in determining if, and by how much, future geoengineering efforts will be successful in reducing global warming. 

 

References:

 

Research paper warns that there’s a massive experiment at work to geoengineer the Earth’s climate. Frank Landymor. Futurism. May 23, 2026. Research paper warns that there’s a massive experiment at work to geoengineer the Earth’s climate

Radiative Forcing and Ozone Depletion of a Decade of Satellite Megaconstellation Missions. Connor R. Barker, Eloise A. Marais, Eric Y. P. Tan, Sebastian D. Eastham, Glenn S. Diskin, Joshua P. DiGangi, Yonghoon Choi, Andrew W. Rollins, Eleanor Waxman, T. Paul Bui … Earth’s Future. Volume 14, Issue 5. First published: 14 May 2026. Radiative Forcing and Ozone Depletion of a Decade of Satellite Megaconstellation Missions - Barker - 2026 - Earth's Future - Wiley Online Library

Satellite launch pollution rapidly accumulating in the upper atmosphere. University College London. 14 May 2026. Satellite launch pollution rapidly accumulating in the upper atmosphere | UCL News - UCL – University College London

 

Solar Farms in India are Losing Efficiency Due to Extreme Heat and Air Pollution: However, After Removal of the SPP5-8.5 Climate Scenario, Lower Efficiency Loss is More Likely

       Extreme heat appears to be increasing in India, where farmers have noted that the heat is hotter, comes earlier, and stays longer. For PV solar panels, efficiency drops when it gets too hot, typically in the hottest parts of the day. Thus, panel temperatures are monitored. A study published in November 2024 in Environmental Research Letters by scientists at the Center for Atmospheric Sciences, IIT Delhi, explores how rising temperatures and air pollution may affect solar output in the coming decades.

     The study compared historical conditions between 1985 and 2014 with projections for 2041–2050. The study concluded that PV solar panel efficiency could decline by up to 3.3% by midcentury, which could result in annual electricity losses of between 600 and 840 gigawatt-hours (GWh).

     The study includes the effects of heat and particulate air pollution. Particulate pollution in the air dims the sun, which means less will be received by the panels. It appears that the study also includes “soiling” of the panels as well, when dust is deposited on the panels, which is common in arid environments. India often has high levels of particulate pollution. Autumn crop residue burning in India is a major source of seasonal particulate pollution, and it is not uncommon for it to be bad enough to close schools and some businesses.

     India has an ambitious goal of installing 500GW of renewable energy by 2030 from just over 100GW installed now.

     The article in WhoWhatWhy notes that there are some efforts to make solar panels less affected by heat:

“Manufacturers are developing advanced solar cells capable of operating more efficiently under high-temperature conditions. Researchers are also exploring cooling systems, improved panel materials, and new installation designs that enhance airflow and reduce heat buildup.”

     Panels may be cleaned to remove dust. Automated cleaning systems are utilized in the more arid regions of Gujarat and Rajasthan.

     The abstract of the paper is given below, along with some important figures. It can be remarked that the higher end of the predictions includes the SSP5-8.5 scenario that has recently been abandoned by the IPCC as implausible. That means the higher end of the predictions is implausible as well. That means efficiency losses are likely to remain within the 2-2.5% range and power generation losses closer to 600GWh.

  

 

 

References:

 

Feedback loop threatens to undermine solar power as a solution to global warming. Tauseef Ahmad. WhoWhatWhy. June 11, 2026. Feedback loop threatens to undermine solar power as a solution to global warming

Future photovoltaic potential in India: navigating the interplay between air pollution control and climate change mitigation. Sushovan Ghosh, Dilip Ganguly, Sagnik Dey and Subhojit Ghoshal Chowdhury. Published 8 November 2024. Environmental Research Letters, Volume 19, Number 12. Future photovoltaic potential in India: navigating the interplay between air pollution control and climate change mitigation - IOPscience

 

UN Global Multidimensional Poverty Index 2025: Overlapping Hardships: Poverty and Climate Hazard: Summary, Review, and Commentary

 This UN report begins with the following statement:

“The climate crisis is fundamentally changing global poverty. It has left more people than ever at risk of poverty and less likely to escape it.”

     This is concerning because many people, including many scientists, do not believe we are in a climate crisis. The report links poverty to climate risks, saying they reinforce one another. That may be true in a few cases, but I do not think it is true for the bulk of those in poverty. I would say that things like inadequate energy access and electricity access contribute more to poverty than climate change. The report talks about “climate-related disasters,” but these likely include any kind of disaster related to weather, which, as we know, have always been happening.

     It seems that this latest version of the report focuses on the relationship between climate hazards and poverty:

 “This 2025 Global Multidimensional Poverty Index (MPI) report, for the first time, overlays data on climate hazards and multidimensional poverty to assess how exposed poor people are to climate shocks.”

     Part I notes four key climate hazards: high heat, drought, floods, and air pollution. Some of those things may also be considered weather hazards, unrelated to anthropogenic greenhouse gas emissions. Air pollution, at least particulate matter pollution, is quite hazardous to humans, but in terms of climate, the aerosol particles promote temporary climate cooling. Thus, I would argue that air pollution is an environmental hazard but not a climate hazard. Floods and droughts are affected by many other factors besides anthropogenic GHG emissions. The report presents climate hazards and poverty as a double burden where these two are inseparably related, without providing convincing evidence, as if merely replacing fossil fuels with renewable energy would reduce and eliminate poverty, which is an absurd idea. The report seeks to strengthen the links between the two, which seems to me an attempt to prove that the energy transition needs to happen faster.

     The first of the key findings of the report gives five statements, which I will look at one at a time.

    Four of the five things stand out here for me: the finding that twice as many children live in poverty as adults, the finding that two-thirds of people in poverty live in middle-income countries, the finding that 83.2% of people in poverty live in Sub-Saharan Africa and South Asia, and the finding that 83.5% of people in poverty live in rural areas.

     Certainly, these people, families with many children living in middle-income countries in rural areas in Sub-Saharan Africa and South Asia, are most exposed to the elements and to weather events, including those influenced by climate change.

     Second is the finding that lack of access to clean cooking fuels (such as propane), sanitation, adequate housing, and adequate nutrition. These are things that can be fixed by governments, aid organizations like the UN, other initiatives, and businesses that can offer opportunities.

     Third is the finding that progress in reducing poverty has been uneven, with some successes and some continuing failures.

     Fourth, they emphasize that those in poverty are more exposed to climate risks.

     The report does note that post-Pandemic trends indicate that there has been stagnation in addressing multidimensional poverty. Poverty reduction slowed down after the COVID pandemic.

     Part II explores how poverty and climate hazards overlap. This part of the report shows that tropical and subtropical regions are most affected by high-heat, droughts, flooding, and air pollution. This is true, but again, these hazards are not strictly climate hazards. They are also weather hazards, lack of adaptation hazards, inadequate pollution abatement hazards, inadequate flood control hazards, inadequate drought mitigation hazards, etc. They are also better termed environmental hazards than climate hazards, and the report does sometimes call them environmental hazards. People in poverty are more exposed to environmental hazards. This is true. They are also likely more exposed to climate hazards, but the ones given in the report are really either just environmental hazards or both environmental and climate hazards. We can’t just flip a switch that turns fossil fuels off to make these problems go away.

     Below, they show that middle-income countries can have high poverty rates.

     The report emphasizes countries facing multiple climate hazards as they define them and offers some practical solutions.

“Overlapping pressures make building resilience an urgent priority. This calls for strengthening local capacities to adapt, including through measures such as nature-based solutions, climate-smart livelihoods and adaptive social protection systems. Equally essential are improved early warning systems, powered by innovative technologies and local partnerships, that can identify at-risk populations and target responses quickly and effectively.”

     There was no mention of improved energy and electricity access.

     The graph below compares multidimensional poverty and monetary poverty and how the poorest are affected by both.

     The report shows “how key environmental stresses intersect with multidimensional poverty.” Again, I will point out that these environmental stresses may not have that much influence from anthropogenic GHG emissions from fossil fuels and so should not be lumped in as part of the so-called “climate crisis.” It is true that global warming influences weather patterns and may exacerbate droughts in some regions, flooding in others, and is likely a major factor for high-heat. For droughts and floods, it is a contributing factor among other contributing factors.

     The report also notes some study limitations:

“While these measures offer valuable insights, they have limitations. Thresholds may not capture local sensitivities, a limitation especially relevant to the metric for heat, which does not consider historical temperature conditions. Humidity, a critical factor in how heat is experienced, is also not captured due to data limitations. Remote sensing data, while essential for achieving global coverage, can overlook microclimatic variation or localized coping strategies. Flood data from EM-DAT may underrepresent smaller or unreported events, particularly in areas with weak reporting systems.” 

     My main problem with the report is the conflating of what should be termed environmental hazards or perhaps climate-related environmental hazards, as climate hazards. It is the same thing the media often does in dubbing extreme weather events and things like wildfires as climate change events, as if burning fossil fuels were their only cause, when in fact it is just one among several influencing factors. Other than that, the report does a good job of attempting to quantify the effects of these climate-related environmental hazards on people in poverty.

 

   

References:

 

Global Multidimensional Poverty Index 2025: Overlapping Hardships: Poverty and Climate Hazards.  United Nations Development Programme. October 2025. mpireport2025en.pdf

Brazil is Developing an Ethanol Power Plant Pilot Project Utilizing the Country’s Abundance of Sugarcane Ethanol and Available Ethanol Infrastructure: Meanwhile, Ethanol Trade/Tariff Imbalances Between the U.S. and Brazil Are Being Corrected by New U.S. Reciprocal Tariffs

      The implementation phase of the world’s first utility-scale engine designed to run almost entirely on ethanol is complete and ready for real-world testing in Brazil. The Suape II power plant in Pernambuco is being developed by the energy company Suape Energia and Finnish technology firm Wärtsilä. The demonstration plant will determine whether ethanol can serve as a viable fuel for dispatchable electricity generation. The project is taking advantage of Brazil’s abundance of sugarcane ethanol and associated infrastructure, which has been used for vehicle transport for decades. The project will determine whether ethanol is competitive with other dispatchable power sources such as natural gas. As a biofuel, ethanol also has a lower carbon footprint than natural gas, so that is a factor as well. The project was initially announced early in 2025 and is just now getting to the testing and validation phase.

     Interesting Engineering notes:

“According to Suape Energia and Wärtsilä, the project uses a modified Wärtsilä 32M engine capable of operating on ethanol derived primarily from Brazilian sugarcane. The demonstration will involve thousands of hours of testing over the coming years, providing data on performance, reliability, emissions, and economics.”

“Brazil is uniquely positioned to test the concept. The country is the world’s largest producer and user of sugarcane ethanol and has spent decades building infrastructure for ethanol production, storage, and transportation. However, most of that fuel has traditionally been consumed in the transportation sector.”

     Brazil is well-suited to using sugarcane ethanol to advance its energy transition goals. It is both the global leader in sugarcane ethanol production and consumption. The ethanol sector in Brazil is huge and currently valued at about $20 billion. Many “flex-fuel” cars in Brazil run on  a mandatory blend of at least 30 percent ethanol, and up to 100 percent ethanol. The policy has helped Brazil avoid some of the worst of the recent oil & gas supply shocks.

     On June 2, 2026, the U.S. Trade Representative proposed a 25% tariff on all Brazilian goods, including ethanol. It is unclear how long such a designation would last since the Trump administration’s tariffs have been limited by the courts. As detailed below by Ethanol Producer Magazine, ethanol-specific reciprocal tariffs by the U.S. on Brazilian ethanol have an important basis since Brazilian tariffs on U.S. ethanol had disrupted a once balanced trade of ethanol between the two countries.

“Brazil has discontinued its previously balanced tariff treatment and failed to reciprocate U.S. tariff treatment of ethanol,” the USTR wrote. “In 2010, Brazil took steps to facilitate bilateral trade in ethanol by suspending a 20% tariff on imports of ethanol. In a similar spirit of promoting bilateral ethanol trade, the United States allowed the “blender” tax credit for U.S. ethanol producers and the $0.54/gallon surcharge on ethanol imports to expire the following year. Bilateral trade in ethanol subsequently flourished, with U.S. exports of ethanol to Brazil steadily increasing until Brazil abruptly departed from this reciprocal treatment in 2017. At that time, Brazil instituted a duty-free tariff rate quota (TRQ) of 600 million liters, with imports above that amount subject to a 20% tariff. This came after a successful lobbying campaign by the Brazilian sugarcane and ethanol industries, which claimed that ethanol imports jeopardized domestic Brazilian ethanol production. Since then, Brazilian tariffs on ethanol have fluctuated, but have been set at 18% since February of 2023. Brazil has the ability to evaluate and change its ethanol tariff on a monthly basis, which further contributes to uncertainty in the market. Brazil has therefore abandoned bilateral cooperation to promote ethanol trade, choosing instead to establish non-reciprocal and unfair conditions for trade in this critical product.”

“These actions by Brazil have denied fair and equitable market opportunities for U.S. ethanol producers,” USTR continued. “Imports of U.S. ethanol into Brazil have generally declined since Brazil reinstated its tariff on ethanol. In 2025, U.S. exports to Brazil totaled $96 million, an 87% decrease from the peak export value of $761 million in of 2018. Additionally, in 2024, U.S. ethanol import market share in Brazil had fallen to 54%, from a high of nearly 100% in 2018. At the same time, Brazilian ethanol exporters have continued to benefit from relatively open U.S. market access. In 2024, U.S. imports of ethanol from Brazil amounted to approximately $203 million dollars, while U.S. exports of ethanol to Brazil that same year amounted to only $53 million.”

     They go on to compare ethanol trade balances between the U.S. and Canada to the ethanol trade imbalance between the U.S. and Brazil to further make the case that the Brazilian tariffs have been unfair to the U.S. Brazil has had open and unfettered access to U.S. ethanol markets while impeding the ability of the U.S. to sell ethanol to Brazil.

     The Renewable Fuels Association also showed support for USTR’s findings:

“We agree with USTR that Brazil’s ethanol trade policies are unreasonable and restrictive, and we support the Trump administration’s efforts to level the playing field,” said Geoff Cooper, president and CEO of the RFA. “The U.S. ethanol industry would prefer to return to days of free and open two-way trade with Brazil. But the Brazilians have instead chosen to enforce punitive tariffs and technical barriers that have resulted in lost market opportunities and financial harm to U.S. producers. Thus, the Trump administration has no choice but to respond in kind.”

     The U.S. may also offer more support for ethanol, with the House narrowly passing a bill to codify year-round sales of E15 ethanol fuel with a 15% ethanol blend, a win for the corn lobby and for agricultural states. The bill will now have to go through the Senate, where its future is uncertain.

     The International Energy Agency reported that in 2023, biofuels accounted for roughly 700 TWh of electricity, projected to rise to approximately 1,250 TWh by 2030.

  

 

References:

 

Brazil launches world-first engine built for ethanol-powered grid electricity. Kaif Shaikh. Interesting Engineering. June 2, 2026. Brazil launches world-first engine built for ethanol-powered grid electricity

Brazil launches world-first ethanol-powered grid engine. Haley Zaremba. Oil Price U.S. June 4, 2026. Brazil launches world-first ethanol-powered grid engine

USTR proposes to set 25% tariff on most goods from Brazil. Ethanol Producer Magazine. June 2, 2026. USTR proposes to set 25% tariff on most goods from Brazil | Ethanol Producer Magazine

Brazil launches world’s first ethanol power plant to turn sugarcane into electricity: Ethanol has been recognized as a central element of Brazil’s energy landscape. Kapil Kajal. Interesting Engineering. March 26, 2025. World’s 1st ethanol power plant launched, to turn sugarcane into energy

High-Grade Vanadium Slag Mining & Processing in South Africa’s Bushveld Complex Region is Progressing as U.S. Vanadium Holding Company (USV) Signs 100% Offtake Agreement with Vanadium Resources Limited (VR8)

       Vanadium Resources Limited (VR8) has made a non-binding offtake agreement with U.S. Vanadium Holding Company LLC (USV) for 100% of the vanadium-bearing slag to be produced from its proposed next-generation V-Iron Plant, tied to the world-class Steelpoortdrift Vanadium Project in South Africa's Bushveld Complex. This comes as the U.S. is seeking to diversify its supply of vanadium away from China and Russia. Vanadium is used in industry, aerospace, and has military uses. Discovery Alert reported on the agreement and is the source of all the figures for this post. They note the importance of the project:

“USV's Arkansas refinery has confirmed via recent metallurgical testing that high-grade slags from South African VTM ores are well-suited to its processing flowsheet. Steelpoortdrift hosts 4.74Mt of contained V₂O₅, making it one of the largest vanadium deposits outside China and Russia.”

     VR8 is producing both pig iron and vanadium slag to diversify revenue and reduce exposure to vanadium price volatility. The development makes it possible that this source of vanadium will be a major supplier to Western markets.

     USV is the only integrated producer of high-purity vanadium specialty chemicals in the U. S, and operates a refinery in Hot Springs, Arkansas.

“Its product suite includes ultra-high-purity vanadium oxide (commanding a significant price premium), vanadium redox flow battery electrolyte, ferrovanadium, vanadium chemicals, vanadium oxides, and nitride vanadium.”

     In the past, USV processed high-grade vanadium-bearing slags from South Africa's Highveld Steel and Vanadium operations. While it no longer processes that source, it has been found to be well-suited to processing the vanadium-bearing slag from the Steelportdrift project. This aligns with USV’s goal of doubling its output of processed vanadium.

     This announcement indicates VR8’s move to a co-production model. Most vanadium production globally, about 70%, is as a by-product of iron smelting. VR8’s proposed process is as follows:

     The advantages of co-production over vanadium production alone are significant and given in the table below.

     Vanadium is a metal that increases the strength and durability of metal alloys while keeping overall weight low. It can withstand high temperatures and is resistant to shock. It is used in jet engine turbines, aircraft airframes, and armor plating for military vehicles and missile casings. About 90% of vanadium is used in the steel industry to increase the strength and durability of the steel. It improves earthquake resistance and is used in skyscrapers, bridges, and transcontinental pipelines. It is also used as the primary catalyst for producing sulfuric acid, the world's most widely used industrial chemical. It also has uses in fertilizer, detergent, and battery manufacturing.

     Below are some key details of the current non-binding offtake agreement. A binding agreement may occur in the future.

     VR8’s plans for the future of the project are detailed below.

     This deal is an important development for the U.S. and for South Africa. For the U.S., it represents a clear diversification away from China and Russia, which together control 93% of global vanadium supply.

     As detailed below, the resource and ore estimates were determined in a 2022 study by DFS. As noted, the recent favorable metallurgical testing at USV’s Arkansas facility makes it more likely that the project will be successful. Thus, the project is considered to be significantly de-risked.

"Vanadium Resources Limited has positioned itself as one of the most strategically relevant vanadium developers outside of China and Russia. With a binding offtake pathway into the United States, a world-class JORC resource, a proven co-production process route, and a clear set of near-term workstreams, VR8 is transitioning from exploration-stage asset holder to a credible supplier to Western critical mineral supply chains. Investors focused on critical minerals, resource nationalism, and Western supply chain security should be watching VR8's next set of milestones closely."

  

 

References:

 

Vanadium Resources Locks In U.S. Offtake Deal for Steelpoortdrift Slag. William Hadrian. Discovery Alert. April 28, 2026. VR8 Secures U.S. Vanadium Offtake for Steelpoortdrift

The SpaceX IPO, Questions About Its Valuation, and the Sheer Absurdity of Elon Musk Being Personally Wealthier Than Every Country in the World Except the 20 Wealthiest Countries

     I read recently that if SpaceX’s IPO goes the way it is predicted, it will make Elon Musk a trillionaire and that his personal worth will be more than all the countries of the world except the twenty wealthiest countries. If that is not a clear signal that our current form of capitalism needs some more checks and balances, I don’t know what else could be.

     There are about 3,030 billionaires in the world and 19 centi-billionaires, those with over $100 billion in net worth, according to Forbes. Musk’s net worth is already double that of the next wealthiest human, Larry Page. The SpaceX IPO is likely to bring Musk’s net worth to three times that of Page. The answer to the question, “Where did all the money go?” should be directed at Mr. Musk. I used to say the mere existence of centi-billionaires is beyond grotesque, but now we are going to have a guy with over ten times that. Where does it end? I know some very smart and hard-working people who are dirt poor. Is Elon’s work really worth the same as the work of hundreds of millions of such people by himself? Think about how absurd it is.  Surely, luck is a factor, and skill is a factor, but it does baffle the mind and yank on our sense of fairness.

     Energy writer Robert Bryce has some ideas about Musk and the SpaceX IPO. In a May 30 post, he notes that Musk has long been fascinated by what is known as the Kardashev Scale, developed by the Russian astrophysicist Nikolai Kardashev (1932-2019), which classifies hypothetical civilizations by the amount of power they can harness: planetary, stellar, and galactic, and is often used in searching for extraterrestrial intelligence.

“There are three levels on Kardashev’s scale: Type I, II, and III. The first is a civilization that can use all the energy available on its home planet. For planet Earth, that figure is roughly the power of all the sunlight hitting our world, which is about 1016 watts. Type II societies can harness all of the energy output of their parent star, estimated at 1026 watts in the case of the Sun. And Type III civilizations can harness the energy resources of an entire galaxy, estimated at 1036 watts.”

     Musk’s obsession with going to space is likely related to his fascination with the Kardashev Scale. He quotes Musk, from 2024:

“Once you understand Kardashev Scale, it becomes utterly obvious that essentially all energy generation will be solar.”

     Musk also quipped that the only way to climb the Kardashev Scale is to go to space. Bryce even quotes the Form S-1 filing ahead of SpaceX’s IPO, where, presumably, Musk directly invokes the Kardashev Scale:

“We believe the next paradigm shift for humanity is the creation of a resilient, perpetually expanding spacefaring civilization that drives continuous innovation across new frontiers, ultimately propelling us to Kardashev Type II status — a civilization that harnesses the full energy output of our Sun.”

     Bryce notes the expected $1.7-2 trillion valuation of the IPO and describes it as loony:

“But by traditional metrics, SpaceX’s valuation is nothing short of loony. SpaceX’s 2025 revenue was $18.7 billion. At a valuation of $1.75 trillion, the company’s stock will be trading at 93 times current revenue. Again, that’s a multiple of the company’s revenue, not its profit. And that’s another issue: In 2025, SpaceX recorded an operating loss of $2.6 billion.”

     In a June 9 post, Bryce cites CNBC’s Jim Cramer as saying  the SpaceX IPO could “end up with a $5 trillion valuation on the day it comes public.” Below, he gives a graph of price-to-sales ratios of companies and adds SpaceX if the IPO values it at $1.75 trillion. He determines that SpaceX’s price-to-sales ratio would be 93. Thus, it would be valued at 93 times its current revenue. He also notes he doesn’t own any SpaceX stock and does not plan to buy any.

    Bryce’s conclusion in that post emphasizes the outsized claims and wonders how much of it is simply hype:

“Add in the fact that Musk will retain 85% of the company’s voting shares and that less than 5% of the company’s stock will actually be sold to the public, and the deal becomes even more incredible.”

“Perhaps SpaceX is worth trillions of dollars. But we live in the Age of Hype. Has the hype around SpaceX lost all contact with reality? We are about to find out.”

 

    

 

References:

 

SpaceX At $5 Trillion? The Final Frontier Of FOMO, Robert Bryce. Substack. June 9, 2026. SpaceX At $5 Trillion? The Final Frontier Of FOMO

SpaceX’s $2 Trillion Gas-Fired IPO Elon Musk’s rockets, AI ambitions, and dreams of "interplanetary industrialization" all depend on an old-fashioned fuel: the queen of the hydrocarbons. Robert Bryce. Substack. May 30, 2026. SpaceX’s $2 Trillion Gas-Fired IPO - Robert Bryce

Most Richest People in the World 2026. TOP 50 Billionaires List (June). Oleg Parashchak and Nataly Kramer. Beinsure, June 5, 2026. Richest People in the World 2026 ⭐ Top 50 Billionaires List (June)

 

 

Reclaimed Refrigerants: RMI Analysis Shows Refrigerants Can Be Reclaimed to Virgin Standards, and Doing So Can Help Prevent Price Spikes as Demand for HFCs Could Exceed Supply in the Coming Years

     RMI analyzed the feasibility of recovering refrigerants by reclaiming them to prevent leakage of hydrofluorocarbons (HFCs) gases with very high global warming potentials (GWPs). With more refrigeration equipment in the world, the need for the recovery of refrigerants increases. The U.S. and other countries are phasing down the use of HFCs, but it will be a long time before HFC-containing equipment is no longer around. The refrigerant R-410A has a GWP of about 2000 and is used in a majority of residential and commercial air conditioning systems in operation today, including in my own heat pump system. Thus, they note that demand for legacy refrigerants will persist even as production declines.

“Meeting this demand will require more effective management of refrigerant already contained within the installed base of cooling equipment, where significant volumes remain embedded in equipment at the end of its useable life. For example, R-410A accounted for 39% of all HFCs in use in 2022, and more than 80% of residential and small commercial air conditioning equipment rely on it. Much of this refrigerant could be recovered: a national contractor survey found that more than half of retiring residential systems still retain at least 75% of their charge at installation (the proportion of refrigerant contained within a system).”    

     They note that the reclaimed refrigerants can be recovered, reclaimed with sufficient purity, and returned to the market.  

“Scaling recovery and reclamation can convert recovered refrigerant from retired systems into a meaningful secondary supply stream, helping to offset declining production, reduce shortages, and limit price volatility as supply tightens under the HFC phasedown.”

     Reclaimed refrigerants can be utilized as part of buyback programs. They note that not enough refrigerants are currently recovered and reclaimed.

“Despite these benefits, reclaimed refrigerant remains underutilized in the United States, comprising just 3 to 10% of total HFC consumption as of 2022, and refrigerant recovery rates are well below leading nations such as Japan, where the recovery is around 40%.”

     Thus, reclaiming refrigerants presents both an economic opportunity and an opportunity to prevent greenhouse gas emissions.

     RMI partnered with OTS R&D to evaluate the performance of reclaimed refrigerant under controlled laboratory conditions.

“The results were clear: In both systems, across all operating conditions, there were no statistically significant differences in performance between reclaimed and virgin refrigerants. Heating and cooling capacity, as well as energy efficiency, remained consistent and within expected uncertainty bounds. These findings demonstrate that reclaimed refrigerant meeting AHRI 700 standards is chemically equivalent to virgin refrigerant and delivers equivalent performance, reinforcing its viability as a reliable substitute for virgin supply.”

     Reclaiming refrigerants can make the transition to lower GWP refrigerants more cost-effective.

“…fully realizing this opportunity will require sustained coordination and alignment across contractors, distributors, refrigerant producers and reclaimers, equipment suppliers, and policymakers to make adoption of reclaimed refrigerant a standardized industry practice.”     

     Recommendations are given below:

     The key finding of the report is that reclaimed refrigerants can be easily and cheaply reprocessed to virgin refrigerant standards. They note that it will be important in the years to come to manage reclaimed refrigerant, which is still in demand but no longer produced, in order to avoid shortages, price volatility, and service disruptions for contractors and building owners. Europe experienced refrigerant price spikes due to its phase-down requirements, but such problems can be avoided by a well-managed reclamation process.

   

References:

 

Clearing the Air on Reclaimed Refrigerant: Evidence of performance parity with virgin refrigerant. Raghav Muralidharan, Ellie White, Ankit Kalanki, Ellery Klein, Dennis Nasuta. Additional Contributors: Ian McGavisk, Teressa Healy, Sebastian Perez, Sukanya Paciorek, and Hudson Technologies. Rocky Mountain Institute. April 21, 2026. Clearing the Air on Reclaimed Refrigerant - RMI

Report Overview. Clearing the Air on Reclaimed Refrigerant. April 2026. key-takeaways-refrigerant-report-graphics_4.20.26.pdf