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TotalEnergies (TTE), Veolia to Develop Microalgae for Biofuels
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TotalEnergies (TTE - Free Report) announced that it has partnered with Veolia Environnement S.A. for the development of microalgae at the La Mède biorefinery, with the long-term objective of producing biofuel.
Microalgae utilize sunlight and CO2 from the atmosphere or from industrial processes to grow. When mature, they can be transformed into next-generation biofuels with low-carbon intensity. As part of the project, a test platform will be set up to compare different innovative systems for growing microalgae and identify the most efficient ones to grow microalgae.
Project In Sync With Long-Term Goal
TotalEnergies strives to be a net-zero carbon emission company by 2050 and has taken the necessary steps to achieve the target. This decision to develop microalgae and finally produce biofuel is completely in sync with TotalEnergies’ emission reduction goal.
Biofuel produced by TotalEnergies will be utilized by customers and assist them to reduce their carbon footprint, thereby contributing to TotalEnergies’ ambition of achieving carbon neutrality by 2050.
Ways to Reduce Emission
TotalEnergies is gradually building the clean electricity generation portfolio. The acquisition of SunPower Corporation (SPWR - Free Report) has been enabling the company to expand solar operations since 2011. It now plans to scale up renewable generation capacity to 25 GW by 2025. TOTAL also targets to generate 40% of revenues in 2050 from low-carbon electricity sales.
Globally, TotalEnergies is among the largest producers of LNG and has significant presence in the entire value chain of LNG. The company expects LNG usage to increase globally and help in emission reduction.
TotalEnergies is supporting the increasing usage of electric vehicles (EVs) in European countries by setting up the much required EV charging infrastructure. TotalEnergies has plans to install more than 150,000 electric vehicle charge points by 2025 in Europe. These charging points will assist the company in smooth transition toward higher usage of EVs and lower mobility-related emission.
Clean Energy in Focus
Globally, we have seen an increasing usage of clean renewable energy and urge among energy majors to cut emission levels. Investment in the renewable space involves a lot of growth potential. Given the possibility of increasing the usage of renewable energy, oil and gas companies like Chevron Corporation (CVX - Free Report) and Royal Dutch Shell Plc , among others, are also investing heavily in the renewable energy space.
Price Performance
In the past six months, TotalEnergies’ shares have underperformed the industry.
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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TotalEnergies (TTE), Veolia to Develop Microalgae for Biofuels
TotalEnergies (TTE - Free Report) announced that it has partnered with Veolia Environnement S.A. for the development of microalgae at the La Mède biorefinery, with the long-term objective of producing biofuel.
Microalgae utilize sunlight and CO2 from the atmosphere or from industrial processes to grow. When mature, they can be transformed into next-generation biofuels with low-carbon intensity. As part of the project, a test platform will be set up to compare different innovative systems for growing microalgae and identify the most efficient ones to grow microalgae.
Project In Sync With Long-Term Goal
TotalEnergies strives to be a net-zero carbon emission company by 2050 and has taken the necessary steps to achieve the target. This decision to develop microalgae and finally produce biofuel is completely in sync with TotalEnergies’ emission reduction goal.
Biofuel produced by TotalEnergies will be utilized by customers and assist them to reduce their carbon footprint, thereby contributing to TotalEnergies’ ambition of achieving carbon neutrality by 2050.
Ways to Reduce Emission
TotalEnergies is gradually building the clean electricity generation portfolio. The acquisition of SunPower Corporation (SPWR - Free Report) has been enabling the company to expand solar operations since 2011. It now plans to scale up renewable generation capacity to 25 GW by 2025. TOTAL also targets to generate 40% of revenues in 2050 from low-carbon electricity sales.
Globally, TotalEnergies is among the largest producers of LNG and has significant presence in the entire value chain of LNG. The company expects LNG usage to increase globally and help in emission reduction.
TotalEnergies is supporting the increasing usage of electric vehicles (EVs) in European countries by setting up the much required EV charging infrastructure. TotalEnergies has plans to install more than 150,000 electric vehicle charge points by 2025 in Europe. These charging points will assist the company in smooth transition toward higher usage of EVs and lower mobility-related emission.
Clean Energy in Focus
Globally, we have seen an increasing usage of clean renewable energy and urge among energy majors to cut emission levels. Investment in the renewable space involves a lot of growth potential. Given the possibility of increasing the usage of renewable energy, oil and gas companies like Chevron Corporation (CVX - Free Report) and Royal Dutch Shell Plc , among others, are also investing heavily in the renewable energy space.
Price Performance
In the past six months, TotalEnergies’ shares have underperformed the industry.
Zacks Rank
TotalEnergies currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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