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Texas-based Tesla gets China's initial approval of self-driving software

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Chinese officials told Tesla that Beijing has tentatively approved the automaker's plan to launch its “Full Self-Driving,” or FSD, software feature in the country. Photo via tesla.com

Shares of Tesla stock rallied Monday after the electric vehicle maker's CEO, Elon Musk, paid a surprise visit to Beijing over the weekend and reportedly won tentative approval for its driving software.

Musk met with a senior government official in the Chinese capital Sunday, just as the nation’s carmakers are showing off their latest electric vehicle models at the Beijing auto show.

According to The Wall Street Journal, which cited anonymous sources familiar with the matter, Chinese officials told Tesla that Beijing has tentatively approved the automaker's plan to launch its “Full Self-Driving,” or FSD, software feature in the country.

Although it's called FSD, the software still requires human supervision. On Friday the U.S. government’s auto safety agency said it is investigating whether last year’s recall of Tesla’s Autopilot driving system did enough to make sure drivers pay attention to the road. Tesla has reported 20 more crashes involving Autopilot since the recall, according to the National Highway Traffic Safety Administration.

In afternoon trading, shares in Tesla Inc., which is based in Austin, Texas, surged to end Monday up more than 15% — its biggest one-day jump since February 2020. For the year to date, shares are still down 22%.

Tesla has been contending with its stock slide and slowing production. Last week, the company said its first-quarter net income plunged by more than half, but it touted a newer, cheaper car and a fully autonomous robotaxi as catalysts for future growth.

Wedbush analyst Dan Ives called the news about the Chinese approval a “home run” for Tesla and maintained his “Outperform” rating on the stock.

“We note Tesla has stored all data collected by its Chinese fleet in Shanghai since 2021 as required by regulators in Beijing,” Ives wrote in a note to investors. “If Musk is able to obtain approval from Beijing to transfer data collected in China abroad this would be pivotal around the acceleration of training its algorithms for its autonomous technology globally.”

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Houston university debuts new program to develop wind turbine workforce

future technicians

University of Houston-Downtown announced a new Wind Turbine Technician Certificate Program.

UHD’s goal with the new program is to address the global need for workers skilled in servicing, diagnosing, repairing and installing wind turbines and other associated equipment.

The program will allow students to learn at their own pace, and is supported seven days a week by tutorial and technical staff, and offers flexible payment options with a low initial registration fee.

Some courses can be purchased as students work through them.The total cost is $1,750 for the entire program.

The course will be delivered in partnership with George Brown College in Toronto. George Brown College is a leader in distance learning, and one program highlight will be its 3D interactive wind turbine simulator. The wind turbine simulator will have key features like real-time visualization, interactive operation, pre-built lab projects, and Pitch and Yaw Ladder Logic applications, which shows how Programmable Logic Controllers (PLCs) are used to provide automatic control of wind turbines.

“The programs we develop at George Brown College feature robust technical simulation software so we can reach different students, like those looking to diversify their skills and can’t attend full time because of family or work commitments,” Colin Simpson, dean of continuous learning, says in a news release. “Additionally, our partnership with University of Houston-Downtown allows us to extend our reach to help train the U.S. clean energy workforce.”

According to Global Wind Energy Council’s Global Wind Report 2023, over half a million new wind technicians will be needed by 2026 to service the expected capacity increases, as wind generation is expected to more than double by 2030. Texas produces 26 percent of all U.S. wind-sourced electricity.

“Wind energy is one of the fastest-growing energy sources in the world, and as the largest wind producer in the United States, there is a growing need for skilled technicians in Texas,” UHD President Loren J. Blanchard adds. “By partnering with George Brown College, we’re able to leverage a unique online program to develop a skilled workforce for the wind energy sector in the state and beyond.”

Power grid tech co. with Houston HQ raises $25M series B

money moves

A Norway-based provider of technology for power grids whose U.S. headquarters is in Houston has raised a $25 million series B round of funding.

The venture capital arm of Polish energy giant Orlen, Norwegian cleantech fund NRP Zero, and the Norway-based Steinsvik Family Office co-led Heimdall Energy's round. Existing investors, including Investinor, Ebony, Hafslund, Lyse, and Sarsia Seed, chipped in $8.5 million of the $25 million round.

“This funding gives us fuel to grow internationally, as we continue to build our organization with the best people and industry experts in the world,” Jørgen Festervoll, CEO of Heimdall, says in a news release.

Founded in 2016, Heimdall supplies software and sensors for monitoring overhead power lines. The company says its technology can generate up to 40 percent in additional transmission capacity from existing power lines.

Heimdall entered the U.S. market in 2023 with the opening of its Houston office after operating for several years in the European market.

“Heimdall Power has built itself a unique position as an enabler for the ongoing energy transition, with fast-increasing electricity demand and queues of renewables waiting to get connected,” says Marek Garniewski, president of Orlen’s VC fund.

Heimdall says it will put the fresh funding toward scaling up production and installation of its “magic ball” sphere-shaped sensors. In the U.S., these sensors help operators of power grids maximize the capacity of the aging power infrastructure.

“In the United States alone, there are over 500,000 miles of power lines — most of which have a far higher transmission capacity than grid operators have historically been able to realize. To increase capacity, many have launched large-scale and expensive infrastructure projects,” Heimdall says.

Now, the U.S. government has stepped in to ensure that utilities are gaining more capacity from the existing infrastructure, aiming to upgrade 100,000 miles of transmission lines over the next five years.

Heimdall's technology enables grid operators and utilities to boost transmission capacity without undertaking lengthy, costly infrastructure projects. Earlier this year, the company kicked off the largest grid optimization project in the U.S. with Minnesota-based Great River Energy.

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This article originally ran on InnovationMap.

Houston energy companies make Beryl-related donations, lithium plant goes live, and more top news

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Editor'snote: From a new direct lithium extraction plant going online to energy companies making Hurricane Beryl donations, these are the top headlines that resonated with EnergyCapital readers on social media and daily newsletter this week.

Houston company's commercial direct lithium extraction plant goes live

The newly launched plant will process brine produced from lithium-containing waste-magnesium salts. Photo via ibatterymetals.com

A Houston company has launched operations with what it's calling the world’s first commercial modular direct-lithium extraction plant.

International Battery Metals has reported that its new plant — just outside Salt Lake City, Utah, and co-located with US Magnesium LLC — is up and running. The plant, originally announced earlier this year, will process brine produced from lithium-containing waste-magnesium salts. The resulting lithium chloride product will provide feedstock for high-purity lithium carbonate generated by US Magnesium.

"This achievement is momentous for IBAT and a harbinger for an industry-transformation to significantly boost lithium production on a more cost-effective and sustainable basis, clearing a path for supplies of lower-priced, high-quality lithium for EV batteries and large-scale grid backup battery installations," John Burba, founder and CTO of IBAT, says in a news release. "This kicks off a U.S. lithium production renaissance and creates the potential for a sea change in global lithium supplies." Continue reading.

4 Houston energy companies pledge financial support in wake of Hurricane Beryl

Four energy companies are putting their money where their mouths are following Hurricane Beryl. Photo by Brandon Bell/Getty Images

Four major energy companies in the Houston area have chipped in more than $400,000 to support relief efforts for Hurricane Beryl in Southeast Texas. Nationwide, it’s estimated that the storm caused at least $28 billion in damage and economic losses.

Here’s a breakdown of contributions announced by the four energy companies. Continue reading.

New talent-packed TV show taps into Texas oil boom history

The new show is based on a podcast produced by Texas Monthly. Photo courtesy of Paramount+

A new television show that's slated to premiere this fall will put Texas' oil boom on center stage.

Taylor Sheridan's buzzy new Texas-based series Landman will premiere Sunday, November 17, on Paramount+, the network revealed. That's just one week after the November 10 debut of the final episodes of Sheridan's Yellowstone on Paramount.

Landman will launch with two episodes, with subsequent ones dropping weekly on Sundays, a news release says. In total, the first season will be 10 episodes long. The series is based on Texas Monthly's acclaimed podcast Boomtown by West Texas-raised journalist Christian Wallace, which aired from late 2019 to early 2020. Wallace is serving as a consultant and writer on the series. Continue reading.

Oxy subsidiary secures Microsoft as largest-ever DAC carbon removal credit customer

Here's 1PoinFive's newest customer on its Texas CCUS project. Photo via 1pointfive.com

Occidental Petroleum’s Houston-based carbon capture, utilization and, sequestration (CCUS) subsidiary, 1PointFive, has inked a six-year deal to sell 500,000 metric tons of carbon dioxide removal credits to software giant Microsoft.

In a news release, 1Point5 says this agreement represents the largest-ever single purchase of carbon credits enabled by direct air capture (DAC). DAC technology pulls CO2 from the air at any location, not just where carbon dioxide is emitted.

Under the agreement, the carbon dioxide that underlies the credits will be stored in a below-the-surface saline aquifer and won’t be used to produce oil or gas. Continue reading.

Houston renewable energy developer teams up with global commercial real estate biz

Catalyze has teamed up with Cushman & Wakefield to expand installation of solar panels and battery storage technology. Photo courtesy of Catalyze

Houston-based Catalyze, a developer of independent power systems, has teamed up with commercial real estate services powerhouse Cushman & Wakefield to expand installation of solar panels and battery storage technology at U.S. commercial and industrial properties.

The two companies say the partnership will help owners and tenants of office buildings, warehouses, and other commercial properties reduce utility costs, boost operating income, achieve environmental goals and ease stress on the power grid. Continue reading.

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