Bekaert is proud to announce that its near-term and long-term greenhouse gas emissions reduction targets have been validated by the Science Based Targets initiative (SBTi).

"As the world is transitioning to a zero-carbon economy, it is the responsibility of industrial companies like Bekaert to lead the way in decarbonization actions, in boosting innovation, and in driving smart, safe and sustainable solutions in the end-markets”, says Oswald Schmid, CEO of Bekaert. “I am proud that our ambitious carbon reduction targets have now been officially validated and that we join the group of leading companies that commit to targets supporting the limitation of global warming to 1.5 degrees Celsius according to latest science. Delivering upon these targets forms an inherent part of the commitment we make through our sustainability strategy.”

Bekaert’s carbon reduction targets

• Bekaert has committed to actions to align emissions reduction targets to the 1.5-degree target of the Paris agreement. As part of an overall commitment to become Carbon Net Zero by 2050, the company has set ambitious targets for its value chain, covering Scope 1, Scope 2 and Scope 3 emissions.  
• For Scope 1 and 2 combined, Bekaert will reduce greenhouse gas emissions in absolute terms by 46.2% by 2030, compared to 2019. To this end, Bekaert will enhance the energy efficiency of its operations and increase the proportion of renewable energy supply.
• For Scope 3, Bekaert will reduce the absolute greenhouse gas emissions by 19.7% by 2035 compared to 2019. To reach this ambitious objective, Bekaert engages with suppliers and customers to commit to carbon reduction targets and to measures based on circular principles across the value chain.

 The Science Based Targets initiative (SBTi)

SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practices in science-based target setting and independently assesses companies’ targets. 

Microsoft has acquired Lumenisity® Limited, a start-up based in the U.K. that provides hollow-core fiber (HCF) with a proprietary design said to offer multiple advantages over traditional solid core fiber.

Per the company’s website, Lumenisity was formed in 2017 as a spinoff from the Optoelectronics Research Centre (ORC) at the University of Southampton to commercialize breakthroughs in the development of hollow-core optical fiber. In 2021 and 2022, it won the Best Fibre Component Product for its NANF® CoreSmart® HCF cable in the European Conference on Optical Communication (ECOC) Exhibition Industry Awards.

A press release said that Microsoft plans to use Lumenisity’s technology and experts to accelerate innovations in networking and infrastructure. It noted that light that propagates in an air core has significant advantages over traditional cable built with a solid core of glass, including increased overall speed and lower latency as light travels through HCF 47% faster than standard silica glass. For further details on Lumenisity’s technology, see the company’s presentations at www.lumenisity.com.

Hellenic Cables is one of 13 parties from eight countries that are part of a coalition working to further the design and deployment of a 6 MW floating wind prototype in the French Mediterranean.

A press release said that the pan-European project, launched in Paris, seeks to accelerate the roll out of the next generation of floating wind technology for a competitive, more scalable and industrial deployment. Other participants include: X1Wind, Naturgy, 2B Energy, Technical University of Denmark, Hydro, Ecole Centrale de Nantes, Schwartz Hautmont, Ocas, Tersan Shipyard, Ocean Ecostructures and Cybernetix.

Backed by the European Commission under the Horizon Europe program with public funding of €16 million, the project is anticipated to run until 2027. It will lead to the deployment of a 6 MW floating wind prototype to demonstrate at a relevant scale an innovative integrated downwind floating platform design, while advancing in parallel on the industrialization and scaling-up of the integrated solution up to 20MW+ scale, in preparation of commercial floating wind farms under development in Europe.

This project builds upon previous European Projects such as the PivotBuoy which recently led to the installation of a part-scale prototype in the Canary Islands to validate the technology. Design work for the initial 6MW system is currently underway and scheduled to be finalized in 2023. Construction is due in 2023 and 2024, ahead of installation in 2025.

Floating wind is considered one of the lowest carbon electricity generation systems to meet the energy demand in a sustainable way while inducing better competitiveness, less noise and visual pollution, and less interaction with the users of the maritime domain. The NextFloat Project represents a unique opportunity to test a novel and disruptive version of this technology at full scale, driving cost curve reductions in order to deliver industrial-scale projects at the earliest possible stage”.

“After the successful deployment and validation of our innovative low-cost solution in the Canary Islands (PivotBuoy project), the goal now is to scale-up and industrialize the technology in advance of large commercial floating wind projects which will come online at the end of the decade across European, Asian and U.S. waters,” said X1 Wind Founder and CEO Alex Raventos. “Wind will allow us time to drive substantial improvements in the competitiveness of floating wind as we prepare for long-term mass deployment.”

Germany’s Leoni AG reports that the May 21 announced sale of its Business Group Automotive Cable Solutions business to Thailand’s STARK Corporation Public Company Limited (STARK) has been upended.

A press release said that the buyer, STARK, “unexpectedly demanded very significant amendments to the purchase agreement.” It added, “Despite willingness to compromise on the side of Leoni, STARK refused to agree and will not perform the closing.”

Leoni said that it sees the actions as a breach of the contract, and will “take all measures to enforce its rights against STARK.” It noted that the sale was important as it is the basis for the financing of the Leoni Group until the end of 2025. Leoni has signed a comprehensive contractual documentation of the refinancing plan with its syndicate banks and borrower’s note holders on the basis of the agreement in principle reached in July 2022. An essential prerequisite for its implementation, however, is a partial repayment of financial liabilities with proceeds from the sale. As a result of the non-performance of the contract by STARK, the refinancing plan cannot be implemented for the time being.

The release did not state what changes STARK requested. STARK is a private organization which focuses on investment in manufacturing and services in the industrial sector. It has been registered as a public organization since 2019 and mainly runs the business of Phelps Dodge International (Thailand) Limited. In 2020, it partnered with Thai Cable International, a leading manufacturer and distributor of copper and aluminum conductors in Thailand, and Thinh Phat Electric Cable Joint Stock Company, a major wire and cable manufacturer from Vietnam.

STARK did not respond to a WJI request for comment.