A giant crane hoists a 40-tonne chunk of turbine tower almost 60 metres in the air and then places it on top of a half-finished structure. What’s different about this project is that it isn’t made from the usual ingredient: steel.
Rather, start-up Modvion is building the tower out of wood, a material it says will reduce the carbon footprint by more than 90 per cent. This will be the world’s tallest turbine of timber when completed in the coming weeks, and then it will be sold to a utility supplying clean energy to local homes and factories.
Sweden has a rich heritage of using wood in everything from windmills to centuries-old churches, clogs, decorative Dala horses and even a skyscraper.
Modvion is drawing on that craftsmanship to disrupt a forecasted $40 billion tower industry, where the use of heavily polluting steel and cement hasn’t changed much in the past few decades, undermining the turbines’ environmental benefits.
“The world is facing a climate crisis, and we need to switch energy sources,” chief executive Otto Lundman said after watching the lift. “Wind power is one of the most efficient and attractive that we have. We increase that value further.”
While the blades and the machinery are industry standard equipment, the approach has attracted interest from some of Europe’s biggest energy companies. Vestas Wind Systems bought 15 per cent of the firm after seeing a smaller demonstration model, and Italy’s Enel Green Power reached a co-operation agreement.
Sweden’s Vattenfall is a partner, and Germany’s RWE signed a letter of intent in March to use Modvion’s wooden towers in future projects.
The planet’s original building material is making a comeback in the net-zero age, with timber high-rises, corporate campuses and Olympic Village housing all in the works. A 20-storey “plyscraper” opened in Skelleftea, Sweden, in 2021.
Even as the wind industry is suffering from cost increases, supply chain bottlenecks and financing problems due to higher interest rates, forecasts for growth are still huge as nations rush to meet ambitious plans for reducing carbon dioxide emissions.
Annual European onshore installations are predicted to surge by almost a quarter by 2030, according to BloombergNEF.
Wind additions will exceed 16 gigawatts for the first time this year, with Germany, France, Spain, Sweden and Finland propping up the estimate.
“We expect our collaboration to increase,” said Todd O’Neill, chief executive of Vestas Ventures. “Many of our customers have proactively inquired to learn how they can be a part of Modvion’s journey.”
That connection comes in handy. The generator on top of the timber tower will be a recycled Vestas V90 2-megawatt machine. The Danish wind giant also will supply blades to crown the structure, which will be 150 metres (492 feet) tall when finished.
Modvion’s project outside Skara, Sweden, is made from Finnish spruce that’s laminated for strength and protection against the elements and fire, and then curved into four pieces about 30 centimetres thick. The tower walls may get thinner in the future as Modvion refines the technology.
The modules are stacked on lorries at a factory in Gothenburg and then glued together on site.
The assembly process saves on future maintenance costs since the typical steel tower contains as many as 50,000 bolts requiring manual checks by workers. Modvion’s towers can be inspected by sending up a drone instead.
Yet it’s the numbers surrounding carbon dioxide emissions – both in manufacturing and operation – that give wood a significant edge over steel.
Steelmaking is responsible for about 8 per cent of the energy industry’s CO2 emissions, and decarbonising will require trillions of dollars in investments. By comparison, wood is a carbon sink and renewable.
Parts of Modvion’s factory are automated, with robots sawing notches into the ends of the modules so they can be slotted together like a jigsaw puzzle. Still, there’s also some old style carpentry going on.
During a recent visit, workers used a measuring tape, nail gun and hand saw to get the pieces just right. To scale up in the future, even more of the work would probably need to be done with machines.
The laminated lumber is stronger than steel at the same weight, so wooden turbines can be taller and support bigger blades (generating more electricity) while needing less reinforcement (saving on building costs), the company says.
Lundman declined to say how much the machine with the timber tower will cost. A standard 2-megawatt turbine is about $2 million, said Leo Wang, a wind analyst at BloombergNEF.
Enel expects significant cost reductions from using wood once a supply chain and economies of scale have been established.
“We are currently monitoring their development so that we are ready to use the technology once it will be available for large-scale applications,’’ said Nicola Rossi, head of innovation at Enel Green Power.
“Wooden solutions are promising, but the long-term benefits of a full-scale adoption of wooden towers in a commercial wind farm are yet to be assessed.”
Modvion, which bills itself as a tech company focusing on engineered wood, is the brainchild of David Olivegren, 56, a carpenter, boat builder and architect.
He developed concepts for wooden masts and tubes during his studies, honed his skills while renovating old houses and even built a small wind turbine meant to charge a converted Renault car.
The start-up, founded in 2016, has received funding from the European Union and the Swedish Energy Agency. Earlier this year, 125 million Swedish kronor ($11 million) were raised through a convertible note issue.
A capital round of €20 million ($21 million), raised primarily through equity stakes, should close in the first quarter of 2024, according to the company.
That will helping financing a 150 metre tall tower, which will support a 6-megawatt machine ready to generate electricity in 2025.
Match info:
Real Betis v Sevilla, 10.45pm (UAE)
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%3Cp%3ECelebrated%20on%20October%2016%2C%20to%20coincide%20with%20the%20founding%20date%20of%20the%20United%20Nations%20Food%20and%20Agriculture%20Organisation%2C%20World%20Food%20Day%20aims%20to%20tackle%20issues%20such%20as%20hunger%2C%20food%20security%2C%20food%20waste%20and%20the%20environmental%20impact%20of%20food%20production.%20%0D%3C%2Fp%3E%0A
How Alia's experiment will help humans get to Mars
Alia’s winning experiment examined how genes might change under the stresses caused by being in space, such as cosmic radiation and microgravity.
Her samples were placed in a machine on board the International Space Station. called a miniPCR thermal cycler, which can copy DNA multiple times.
After the samples were examined on return to Earth, scientists were able to successfully detect changes caused by being in space in the way DNA transmits instructions through proteins and other molecules in living organisms.
Although Alia’s samples were taken from nematode worms, the results have much bigger long term applications, especially for human space flight and long term missions, such as to Mars.
It also means that the first DNA experiments using human genomes can now be carried out on the ISS.
U19 World Cup in South Africa
Group A: India, Japan, New Zealand, Sri Lanka
Group B: Australia, England, Nigeria, West Indies
Group C: Bangladesh, Pakistan, Scotland, Zimbabwe
Group D: Afghanistan, Canada, South Africa, UAE
UAE fixtures
Saturday, January 18, v Canada
Wednesday, January 22, v Afghanistan
Saturday, January 25, v South Africa
UAE squad
Aryan Lakra (captain), Vriitya Aravind, Deshan Chethyia, Mohammed Farazuddin, Jonathan Figy, Osama Hassan, Karthik Meiyappan, Rishabh Mukherjee, Ali Naseer, Wasi Shah, Alishan Sharafu, Sanchit Sharma, Kai Smith, Akasha Tahir, Ansh Tandon
How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
First Person
Richard Flanagan
Chatto & Windus
Ballon d’Or shortlists
Men
Sadio Mane (Senegal/Liverpool), Sergio Aguero (Aregentina/Manchester City), Frenkie de Jong (Netherlans/Barcelona), Hugo Lloris (France/Tottenham), Dusan Tadic (Serbia/Ajax), Kylian Mbappe (France/PSG), Trent Alexander-Arnold (England/Liverpool), Donny van de Beek (Netherlands/Ajax), Pierre-Emerick Aubameyang (Gabon/Arsenal), Marc-Andre ter Stegen (Germany/Barcelona), Cristiano Ronaldo (Portugal/Juventus), Alisson (Brazil/Liverpool), Matthijs de Ligt (Netherlands/Juventus), Karim Benzema (France/Real Madrid), Georginio Wijnaldum (Netherlands/Liverpool), Virgil van Dijk (Netherlands/Liverpool), Bernardo Silva (Portugal/Manchester City), Son Heung-min (South Korea/Tottenham), Robert Lewandowski (Poland/Bayern Munich), Roberto Firmino (Brazil/Liverpool), Lionel Messi (Argentina/Barcelona), Riyad Mahrez (Algeria/Manchester City), Kevin De Bruyne (Belgium/Manchester City), Kalidou Koulibaly (Senegal/Napoli), Antoine Griezmann (France/Barcelona), Mohamed Salah (Egypt/Liverpool), Eden Hazard (BEL/Real Madrid), Marquinhos (Brazil/Paris-SG), Raheem Sterling (Eengland/Manchester City), Joao Félix(Portugal/Atletico Madrid)
Women
Sam Kerr (Austria/Chelsea), Ellen White (England/Manchester City), Nilla Fischer (Sweden/Linkopings), Amandine Henry (France/Lyon), Lucy Bronze(England/Lyon), Alex Morgan (USA/Orlando Pride), Vivianne Miedema (Netherlands/Arsenal), Dzsenifer Marozsan (Germany/Lyon), Pernille Harder (Denmark/Wolfsburg), Sarah Bouhaddi (France/Lyon), Megan Rapinoe (USA/Reign FC), Lieke Martens (Netherlands/Barcelona), Sari van Veenendal (Netherlands/Atletico Madrid), Wendie Renard (France/Lyon), Rose Lavelle(USA/Washington Spirit), Marta (Brazil/Orlando Pride), Ada Hegerberg (Norway/Lyon), Kosovare Asllani (Sweden/CD Tacon), Sofia Jakobsson (Sweden/CD Tacon), Tobin Heath (USA/Portland Thorns)
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
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if you go
The flights
Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning.
The trains
Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.
The hotels
Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.
Sam Smith
Where: du Arena, Abu Dhabi
When: Saturday November 24
Rating: 4/5
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Five expert hiking tips
- Always check the weather forecast before setting off
- Make sure you have plenty of water
- Set off early to avoid sudden weather changes in the afternoon
- Wear appropriate clothing and footwear
- Take your litter home with you
england euro squad
Goalkeepers: Dean Henderson (Man Utd), Sam Johnstone (West Brom), Jordan Pickford (Everton)
Defenders: John Stones (Man City), Luke Shaw (Man Utd), Harry Maguire (Man Utd), Trent Alexander-Arnold (Liverpool), Kyle Walker (Man City), Tyrone Mings (Aston Villa), Reece James (Chelsea), Conor Coady (Wolves), Ben Chilwell (Chelsea), Kieran Trippier (Atletico Madrid)
Midfielders: Mason Mount (Chelsea), Declan Rice (West Ham), Jordan Henderson (Liverpool), Jude Bellingham (Borussia Dortmund), Kalvin Phillips (Leeds)
Forwards: Harry Kane (Tottenham), Marcus Rashford (Man Utd), Raheem Sterling (Man City), Dominic Calvert-Lewin (Everton), Phil Foden (Man City), Jack Grealish (Aston Villa), Jadon Sancho (Borussia Dortmund), Bukayo Saka (Arsenal)
About Takalam
Date started: early 2020
Founders: Khawla Hammad and Inas Abu Shashieh
Based: Abu Dhabi
Sector: HealthTech and wellness
Number of staff: 4
Funding to date: Bootstrapped