The HOPE project aims to develop, build and operate the first 10 MW hydrogen production unit off the coast of Belgium by 2026.

The company is also seeking partners to set up recycling sites in North America, said chief manufacturing officer Ni Jun June 28. 

"Temperatures above the norm across Europe could potentially increase energy demand for cooling purposes,” said Energi Danmark in a note.

Lithium carbonates and hydroxides lead the U.K.’s exports of the five minerals, but face considerable competitive challenges.

Government-backed Japan Investment Corp. plans to offer shareholders ¥4,350 ($30.40) a share in a tender offer around December 2023, the company said in a June 26 statement.

The money will be awarded via the Advanced Technology Vehicles Manufacturing Loan Program to BlueOval SK, a new joint business venture established by Ford and SK On.

The Inflation Reduction Act has been a "huge challenge,” according to U.K. Business Minister Nusrat Ghani who said that the lure of the U.S. "distorts the market.”

“It’s clear that we’re not far or fast enough down the path to eliminate Russian gas,” said Energy Minister Leonore Gewessler during a June 26 press briefing.

The Department of Commerce plans on distributing over $50 billion in funds to semiconductor projects in the U.S., including $39 billion for semiconductor manufacturing incentives.

The deal’s enterprise value is reportedly split into $2.28 billion for Neptune’s Norwegian assets, which go to Var Energi, and $2.6 billion for the rest.