Market developments
Chile advances large-scale green ammonia export project
Consorcio Austral has moved forward with its proposed $4.7bn Acuario project in Chile’s Magallanes region by submitting an Environmental Impact Statement ahead of a targeted 2029 construction start. The development is designed to produce around one million tonnes of green ammonia and 240,000 tonnes of green hydrogen annually, primarily for export markets. Power will come from a dedicated 1.73GW wind farm supported by battery storage and transmission infrastructure. Additional facilities include electrolysers, air-separation units and ammonia synthesis plants. The project forms part of Chile’s broader ambition to become a major exporter of renewable hydrogen and hydrogen-derived fuels.
bp agrees sale of Austrian retail and charging business
bp has agreed to sell its Austrian retail fuel and EV charging business to Switzerland-based volenergy AG, part of the Volare Group, subject to regulatory approval. The transaction covers 250 bp-branded service stations, including around 115 company-owned franchise sites, as well as bp’s Austrian fleet business and interests in several joint ventures. Financial terms have not been disclosed, and completion is expected by the end of 2026. The sites will continue operating under the bp brand through a licensing arrangement. The deal follows similar divestments in the Netherlands, Turkey and Switzerland as bp continues to reshape its downstream portfolio.
Wrightbus launches zero-emission bus range in Australia
Wrightbus has entered the Australian market with the launch of three zero-emission buses at the Australasia Bus & Coach Expo in Sydney. The range includes the Kite battery-electric single decker, the Kite hydrogen fuel-cell model and the StreetDeck 6x2 battery-electric double-decker. Both Kite variants have already been approved under the Transport for New South Wales procurement framework, simplifying adoption by operators. The company plans to build long-term relationships with transport authorities and operators while developing local support capabilities. The expansion builds on Wrightbus’s existing international fleet of battery-electric and hydrogen-powered buses.
Infrastructure & policy
Hyundai opens waste-to-hydrogen facility in South Korea
Hyundai Motor Group has opened HTWO ENERGY Cheongju, its 1st company-operated waste-to-hydrogen production and refuelling facility, advancing its strategy to build a circular hydrogen economy. Located in Cheongju, the site converts biogas from wastewater sludge into hydrogen, creating a local production-and-consumption model that reduces reliance on transported fuel. Current output is around 500kg of hydrogen per day—enough to refuel roughly 100 passenger vehicles or 30 buses—with plans to increase capacity to 2 tonnes daily by 2030. The facility integrates biogas upgrading, hydrogen production, carbon dioxide recovery, storage and refuelling, and is intended to serve as a template for future projects in South Korea and overseas.
Deals
Self Inspection raises $10m for AI-powered vehicle assessments
San Diego-based Self Inspection has secured $10m in funding led by Sandberg Bernthal Venture Partners to expand its AI-driven vehicle inspection platform. Founded in 2021, the company enables users to complete inspections using a smartphone camera, with computer vision technology identifying damage, estimating repair costs and generating reports. More than one million inspections have already been completed for rental fleets, automotive finance providers, auctions and marketplaces. Customers include Stellantis’ financial services division, which uses the platform for lease-end and corporate fleet inspections. The funding will support continued growth and product development in the automotive technology sector.
Tyred secures £2.5m to expand cycling technology platform
Tyred, a London-based mobility technology startup, has raised £2.5m from investors including Raw Ventures and Ada Ventures to accelerate development of its AI-powered cycling ownership platform. The company combines maintenance, repairs, insurance, warranties and finance within a single digital service for cyclists and fleet operators. Proprietary IoT devices embedded in bicycles collect performance data, enabling predictive maintenance, reliability improvements and potentially lower insurance costs. Tyred serviced more than 100,000 bicycles in the past year and supports Lime’s London operations through maintenance and battery-swapping services for roughly 50,000 bikes. The funding will be used to enhance technology and scale operations across the UK and Europe.