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Exxon Mobil and Chevron are jumping into the race to power artificial intelligence data centers, as the two oil majors bet tech companies will ultimately turn to natural gas to meet their tremendous energy needs.

Exxon unveiled plans this week to build a natural gas plant to power a data center. The oil major says it would then use carbon capture and storage technology to reduce the emissions of the plant by 90%.

“We’re working with other large cap industrials to rapidly deploy a solution that would provide both high reliability and low carbon intensity power to meet the growing demand for computing power for artificial intelligence,” Exxon Chief Financial Officer Kathryn Mikells told Wall Street analysts Wednesday without disclosing names of the companies’ the oil major is working with on the project.

The gas plant would not rely on the electric grid and would be independent of utilities, allowing faster installation than traditional power generation projects, Mikells said. Exxon has not disclosed a customer or a timeline for the project.

Exxon has invested heavily in building a carbon capture network along the Gulf Coast with more than 900 miles of pipeline to transport CO2 from several industrial customers to permanent storage sites. The oil major estimates decarbonizing AI data centers could represent up to 20% of its total addressable market for carbon capture and storage by 2050.

Chevron is also working on ways to power data centers, said Jeff Gustavson, president of the oil company’s new energy business, at the Reuters NEXT conference on Wednesday.

“This is something that our company is very well positioned to participate in,” Gustavson said. Chevron is a major national gas producer with power generation equipment and very large tracts of land that could be used for data centers, the executive said.

Gas over nuclear

Alphabet, Amazon, Microsoft and Meta have primarily bought wind and solar power for their data centers as they seek to mitigate the impact of their businesses on the climate. But the power needs of artificial intelligence are growing so large that the tech companies are searching for sources of electricity that are more reliable than renewable energy.

The tech companies have shown a growing interest in nuclear power as a consequence. Microsoft is helping to bring the Three Mile Island nuclear reactor back online by purchasing power from the plant. Amazon and Alphabet’s Google unit are investing in next-generation, small nuclear reactors. Meta recently called on companies to send it proposals to build new nuclear plants.

But the fossil fuel industry and energy analysts have argued for months that the tech sector will ultimately have to embrace natural gas because nuclear plants simply take too long to build.

Exxon CEO Darren Woods took a swipe at nuclear power Wednesday and claimed his company is better positioned than any in the U.S. to meet the power needs of AI in the immediate and near term.

“If you’re betting on nuclear and something coming down the road, there’s a long road ahead of us,” Woods told Wall Street analysts on Wednesday. The small nuclear reactors that tech companies are investing are not expected to reach commercialization until the 2030s.

Exxon is not looking to start a power generation business, the CEO said. The company plans use its expertise leading large projects to help install power generation for data centers in the early stages of the AI ramp up, Woods said.

Once the early ramp up is done, Exxon will focus on trapping and storing emissions associated with data centers, and supplying decarbonized natural gas to the power plants that run AI, Woods said.

Don’t miss these energy insights from CNBC PRO:

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BYD now has the world’s largest car transport ship and it just set sail overseas

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BYD now has the world's largest car transport ship and it just set sail overseas

The BYD “Shenzhen” set sail on its first voyage overseas this week. With 9,200 parking spots, or about enough to fill 20 football fields, BYD’s new car transport ship is now the world’s largest.

BYD’s largest car carrier sets sail for Brazil

BYD’s Shenzhen is on its maiden voyage to Brazil after setting sail on April 27. The vessel is carrying over 7,000 new energy vehicles (NEVs), including electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs). It’s the largest single batch of NEVs exported from China so far.

The new vessel is BYD’s fourth car transport ship and the world’s largest, capable of carrying 9,000 vehicles. According to the company, that’s enough to fill about 20 football fields.

BYD launched its first car carrier, the Explorer No 1, in January 2024. It has already completed several trips to Germany, Spain, and Brazil.

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Its second, the BYD Changzhou, set sail in December 2024, followed by the Hefei earlier this year. All three vessels can carry up to 7,000 vehicles, making the Shenzhen the largest so far.

BYD's-largest-car-transport-ship
BYD Shenzhen, the world’s largest car transport ship (Source: BYD)

The Shenzhen is named after the automaker’s hometown and demonstrates “BYD’s firm determination to promote sustainable development in Brazil.”

BYD is preparing to launch two more vessels, the Changsha and Xi’an. The Changsha is expected to launch soon, while the Xi’an was introduced on April 2.

The new car carriers will help accelerate BYD’s aggressive overseas expansion. In the first three months of 2025, the company sold over 206,000 NEVs overseas, more than double the number it sold last year.

BYD sells a wide range of vehicles in Brazil, including the low-cost Dolphin Mini, starting at around $20,000 (99,800 BRL). In October, it launched its first hybrid pickup truck, the Shark, starting at 379,800 BTL ($66,900).

Brazil is only one overseas market that BYD is targeting. BYD’s sales are expected to double in Europe in 2025, with significant growth in other key regions like Southeast Asia, Japan, Mexico, and South Korea, to name a few.

Source: BYD

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‘Tesla homes’ with solar roof and Powerwalls go on sale

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'Tesla homes' with solar roof and Powerwalls go on sale

‘Tesla homes’ in a Houston neighborhood where all the homes have Tesla solar roofs and Powerwalls went for sale.

7 out of the 11 homes have reportedly already sold.

Tesla neighborhood is a term that is being used for new developments where all the homes integrate all or part of Tesla’s power ecosystem, including the Powerwall home battery pack.

The best example is a giant new development project in Austin, Texas, by Brookfield Asset Management and Dacra in which up to 12,000 new homes are to be built and offering Tesla solar roofs and Powerwalls.

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However, since the announcement, it looks like only some of the homes in the new neighborhood have Tesla energy systems.

In 2022, Tesla also announced a similar project in Las Vegas.

A year later, the company claimed to have deployed “over 600 solar neighborhoods” worldwide, with a total capacity exceeding 100 MW.

One such ‘Tesla neighborhood’ is a small block of 11 townhouse homes featuring Tesla solar roofs and Powerwalls in Houston, Texas.

The homes were recently completed and went on sale, starting at $544,900.

Here are some pictures from the listings:

Utopia Homes, the developer behind the project, described the properties (via Chron):

Step into modern elegance expertly crafted by Utopia Homes. This property showcases groundbreaking Tesla Solar Roof Shingles and Power Wall technology, ensuring 100% energy security and eliminating electric bills for a truly sustainable lifestyle.

The house has proved popular according to the real estate agents, with 7 out of 11 homes already sold.

As we recently reported, Tesla’s solar roofs have proven to be a more expensive and niche product than the company previously presented.

Tesla has largely stopped discussing it, but it is still being deployed through some third-party installers, such as in this case, on new homes.

However, its Powerwall product remains a very popular solution for homeowners seeking greater energy independence and protection against outages, which have been a frequent problem in Texas.

More homeowners are turning to generators, and alternatives like home battery packs are gaining popularity.

Now is a great time to begin your solar journey. If you want to make sure you’re finding a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage. EnergySage is a free service that makes it easy for you to go solar – whether you’re a homeowner or renter. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20 to 30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online, and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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Vision Marine launches 2 new electric pontoon boats with 90 nautical miles of range

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Vision Marine launches 2 new electric pontoon boats with 90 nautical miles of range

Canadian electric propulsion specialist Vision Marine continues to graduate beyond advanced outboard motors into a provider of all-electric boats. This month, Vision introduced two new electric pontoon boats – the 12-passenger V24 and 15-passenger V30, each capable of a range up to 90 nautical miles.

Vision Marine Technologies ($VMAR) is a Canadian technology company with over 25 years of experience in the marine industry. The company made waves (literally) by introducing its E-Motion turnkey powertrain system, which it has since integrated into a catamaran speedboat, which set a speed record of 109 mph in 2022.

Since then, Vision has introduced six hp two-cruiser vessels – the Fantail 217 and Volt 180, each capable of transporting 10 passengers via its E-Motion technology. Most recently, Vision Marine has integrated the full power of its 180 hp electric powertrain technology into two additional vessels, both electric pontoon boats.

Earlier this month, the company officially began sales of the Vision V24 and V30, which you can view below.

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  • Vision electric pontoon
  • Vision electric pontoon

Vision Marine brings power and range to electric pontoons

According to Vision Marine Technologies, orders for its two new electric pontoon boats are now open, and they are touting the same E-Motion technology that put the company on the map a few years ago.

The first model is the V24, a 12-passenger electric pontoon that is 24′ 8″ in length and has 180 hp. The ultra-quiet E-Motion powertrain is powered by a standard 43 kWh marine battery pack, offering 40 nautical miles (46 miles) of all-electric range on a single charge. For added range, Vision sells a version of the electric pontoon with a second battery pack, totaling 86 kWh and delivering up to 90 nautical miles (104 miles) of range.

While the V24 offers more of a classic attempt at the pontoon boat, Vision’s additional new vessel, the all-electric V30, is a tad sportier and provides room for more passengers aboard (15). This 30′ vessel features the same E-Motion powertrain options, complete with the same two battery configurations to offer the same ranges as the V24.

However, the V30 has additional features such as 4 x 6.5″ interior speakers and cool-touch seats. Both models feature an integrated onboard charger that supports both 120- 240V (30 to 50 amps) for seamless charging, no matter the dock plug while moored.

The Vision V24 starts at $99,995 for the standard battery pack version, while the V30 starts at a higher price of $139,995. As previously mentioned, both electric pontoon boats are available to order today.

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