The latest renewable energy news includes announcements on Minesto, XCF Global, Stargate Hydrogen, and others.
Minesto Selected for €20.2 Million EU Grant for 10 MW Tidal Energy Project in Ireland
Swedish marine-energy developer Minesto has been selected by the European Commission for a proposed €20.2 million Innovation Fund grant supporting the 10 MW Euro Dragon Farm tidal energy project in Ireland. Announced October 19, the grant would cover approximately 60 percent of the project’s investment requirements. The installation will use Minesto’s underwater tidal kite technology to generate electricity from relatively low-velocity ocean currents. The company has entered the grant agreement preparation phase with the European Climate, Infrastructure and Environment Executive Agency. Finalisation and signing are expected during Q1 2027. The grant has not yet reached final contractual execution. Minesto operates technology development activities in Sweden, Wales, the Faroe Islands and Taiwan.
XCF Global Completes Merger with Southern Energy Renewables and DevvStream
US renewable-fuels producer XCF Global has completed its previously announced all-stock business combination with Southern Energy Renewables and DevvStream. The transaction closed October 16, creating a business combining sustainable aviation fuel production, biomass conversion technology and environmental asset management. Southern and DevvStream are now wholly owned subsidiaries of XCF. Former Southern shareholders hold approximately 20 percent of the combined company’s outstanding shares, while former DevvStream shareholders own 10.43 percent. XCF retains its public listing. The company has updated its 2027 financial outlook to $650 million–$700 million in gross product sales, $120 million–$130 million in net revenue and $70 million–$75 million in EBITDA. These figures represent management forecasts rather than completed financial results.
Stargate Hydrogen Wins Electrolyser Replacement Contract Covering 400 Cummins Systems
Estonian hydrogen equipment manufacturer Stargate Hydrogen has signed an agreement with US industrial technology company Cummins to supply replacement electrolyser stacks and associated services. Announced October 19, the contract covers more than 400 installed HySTAT alkaline electrolysers across 65 countries. The existing systems contain more than 1,000 electrolyser stacks. Stargate will become the approved aftermarket supplier for these legacy installations, providing replacement components and maintenance-related services. Cummins decided earlier in 2026 to discontinue new commercial activity in the electrolyser segment following a strategic review. The agreement gives Stargate access to an established international installed base while supporting continued operation of existing hydrogen production equipment. Contract duration and financial consideration were not disclosed.
