February 24, 2023

Teesside business driving change ahead of COP-28

A green business is taking a leading role in shaping global policies to combat climate change, just as leaders prepare for COP-28.

This business, known as GreenSpur, is located in Stockton. It has developed the only reliable Rare Earth-Free Permanent Magnet Generator (PMG) suitable for wind turbines.

At the 13th session of the IRENA (International Renewable Energy Agency) Assembly in Abu Dhabi, Darren Robertson, the managing director of GreenSpur, addressed an audience consisting of Heads of State, Government ministers, and industry leaders. This assembly serves as a platform for discussions on critical energy transition issues.

The next major gathering of world leaders will be at COP-28, hosted in the United Arab Emirates. This conference will evaluate progress towards the goals of the Paris Agreement and coordinate strategies for addressing climate change.

Darren Robertson remarked, “Leaders globally who are dedicated to fighting climate change are realizing that we are lagging in the deployment of renewable energy. A significant obstacle lies in the supply chain for essential minerals, especially rare earth magnets. It’s becoming clear that simply increasing mining efforts won’t suffice.”

He emphasized that the solution requires both boosting mineral supply and adopting substitution technologies for critical minerals. GreenSpur has gained recognition as a significant player in this field.

Permanent Magnet Generators (PMGs) are pivotal to the transition to renewable energy and rely heavily on rare earth magnets. These magnets are highly efficient and find use in various applications, including computer hard drives, electric vehicles, and wind turbines.

However, the projected growth in electric vehicles and offshore wind energy is expected to surpass the supply of rare earth magnets. Adding to this concern is the fact that the global supply of rare earth magnets is largely centered in China, which produces 90% of them. The heightened geopolitical tensions have raised worries about energy security due to limited supply access.

GreenSpur has innovated a PMG solution that eliminates the need for rare earth magnets, solidifying its status as a key player in the industry.

Darren Robertson’s invitation to speak at IRENA’s general assembly signifies that international policymakers are seeking insights from GreenSpur on how to tackle supply chain challenges and create policies that can expedite the adoption and growth of this technology, thereby advancing the energy transition.

GreenSpur is a wholly-owned subsidiary of Time To ACT, an organization focused on discovering and advancing undervalued clean and renewable technologies to support the global move towards Net Zero emissions. Time To ACT also includes Diffusion Alloys, a renowned specialist with decades of experience in diffusion coatings, and Teesside Magnetics, an emerging business aiming to bolster the UK’s magnet supply chain goals.

Gary Wallace, the chief financial officer of Time To ACT, highlighted the significance of their relocation to Teesside in 2022. This move has enabled them to stimulate growth in the region’s clean and renewable technology sector while contributing to supply chain development.

Wallace further stated that Teesside’s advantageous infrastructure, skilled workforce, and strong commitment to sustainability provide an environment conducive to limitless success and growth. He expressed pride in GreenSpur’s influence on international policy and their ongoing efforts to forge local supply connections and strategic partnerships for the future.

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