PRINCE ALBERT II OF MONACO, APOLLO 15 COMMANDER DAVID SCOTT AND ASTRONAUT JEAN-FRANCOIS CLERVOY VISITING VENTURI SPACE
Monaco, November 2024 – Gildo Pastor, President of the Monegasque company Venturi Space, welcomed HSH Prince Albert II of Monaco, General David Scott – the first person to have driven a rover on the Moon and Commander of the Apollo 15 mission – and astronaut Jean-François Clervoy.
As a prelude to the lunar missions in which Venturi Space will participate in 2025 and 2026, its President, Gildo Pastor, invited Prince Albert II of Monaco and former astronauts David Scott and Jean-François Clervoy to learn more about the upcoming programme and the advanced technologies developed by Venturi Space’s European bases (Monaco, Switzerland, and France) as part of their collaboration with the North American strategic partner, Venturi Astrolab, Inc. This US-based entity is developing multi-purpose rovers optimised for the needs of the lunar South Pole: FLIP, which will become operational in 2025, and FLEX, scheduled for launch with SpaceX in 2026 at the earliest. FLEX is also one of three mobility solutions shortlisted by NASA for the Artemis V mission in 2030.
In the presence of Isabelle Berro-Amadeï, Minister for External Relations and Cooperation; Pierre-André Chiappori, Minister for Finance and the Economy; HE Maguy Maccario-Doyle, Monaco’s Ambassador to the United States of America; and Frédéric Genta, Interministerial Delegate for Attractiveness and Digital Transition, the visit consisted of five main stages:
-A presentation of the FLIP and FLEX rovers, -An overview of Venturi Space Monaco’s lunar battery manufacturing technologies and techniques, -A discussion of the upcoming missions of Venturi Astrolab and Venturi Space, featuring insights from David Scott and Jean-François Clervoy, -A presentation of Venturi Space Switzerland’s hyper-deformable lunar wheel technology, -An exhibition by Philippe Tondeur dedicated to the helmets and suits of aerospace history.‘ Venturi Space is taking on a very serious challenge! The FLEX rover is very different from the one I drove, it’s much bigger and will have an enormous operating life. It seems to me that the teams are doing a good job, and I wish them good luck.’ – General David Scott.
‘I’m passionate about space exploration and wheeled vehicles. Welcoming the first person to have driven a rover on the Moon, in the presence of the Sovereign and Jean-François Clervoy, brings me immense pleasure’ – Gildo Pastor, President of Venturi Space.
To: Canadian trade watchers From: Ari Van Assche Date: August, 2024 Re: Canada’s Electric Vehicle De-Risking Trilemma
With the recent wrap-up of Ottawa’s month-long public consultation on levying tariffs on electrical vehicles (EVs) made in China, let’s paraphrase a story Nobel Prize-winner Paul Krugman once used to explain the often under-appreciated benefits of free trade:
Consider a Canadian entrepreneur who starts a new business that uses secret technology to transform Canadian lumber and canola into affordable EVs. She is lauded as a champion of industry for her innovative spirit and commitment to Net Zero. But a suspicious reporter discovers that what she is really doing is exporting Canadian-made lumber and canola and using the proceeds to purchase Chinese-made EVs. Sentiment turns sharply against her. On social media, she is widely denounced as a fraud who is destroying Canadian jobs and threatening national security. Parliament passes a unanimous resolution condemning her.
Going the other direction: China is Canada’s third largest destination for agricultural products.
This story underscores a critical dilemma that should have been central in the public consultations.
Those opposing tariffs argue that trade is a potent yet undervalued tool in our fight against climate change: It provides Canada access to low-emissions technologies at increasingly affordable prices, which is essential for transitioning society away from carbon-intensive energy sources. In contrast, those in favour are concerned about supply security, fearing excessive reliance on our biggest geopolitical rival for low-emissions technologies. They warn against swapping the West’s age-old energy insecurity in oil for insecurity in the supply of critical minerals and EV batteries.
The $70,000 cad Polestar 2 EV produced by Volvo. In 2010, Geely Holding Group a Chinese automotive group bought Volvo.
Copilot AI
“As of now, the Chinese electric vehicle (EV) market is making strides globally, but in Canada, the landscape is still evolving: Tesla Model Y and Polestar 2: While not exclusively Chinese, the Tesla Model Y (which is produced in China) and the Polestar 2 (a subsidiary of Volvo, which has Chinese ownership) are currently the most prominent Chinese-made EVs available in Canada. These models have gained attention due to their performance, range, and brand reputation1.”
I examined some of the national security issues that have surfaced in the discussion surrounding supply chains for low-emissions energy technologies like EV batteries in my recent C.D. Howe Institute report.
After examining the various de-risking policies governments have implemented, including their downsides and unintended consequences, I conclude Ottawa probably should develop de-risking policies.
But it needs to apply them judiciously, prudently and rarely. And it needs to justify them with credible, detailed evidence regarding concerns about supply security and whether domestic industry really would be able to compete if market conditions were fairer. This will be important in upholding Canada’s reputation as a leading proponent of the rules-based multilateral system.
China’s role in the supply chains of low-emissions energy technologies does raise real security concerns. China has established near monopolies in several critical minerals and other components of EV batteries, solar panels and wind turbines. No ready alternatives are produced in other countries. For example, 79 percent of global production capacity of polysilicon, which is key for solar cell production, is in China. The next biggest producers, Germany and the United States, have difficulty competing with China’s high-quality, ultra-cheap polysilicon.
China’s monopolies create chokepoints that could enable its government to manipulate production to pursue its own geopolitical ambitions.
Precedents exist: China blocked rare-earth exports to Japan in 2010 and banned exports of rare-earth processing technology in 2023.
Several countries have started adopting de-risking policies to reduce their reliance on these Chinese chokepoints, usually either onshoring or friendshoring. Canada’s recent Critical Minerals Strategy is typical. It was designed in part to reduce this country’s dependence on foreign-mined and processed critical raw materials by, among other things, allocating $1.5 billion to support Canadian critical minerals projects related to advanced manufacturing, processing and recycling.
But these de-risking policies come at a cost.
Ottawa needs to carefully navigate a “policy trilemma” as it strives to formulate a policy agenda that simultaneously targets three goals: Advancing security, promoting low-emissions energy adoption, and capturing the benefits of trade for consumers and businesses.
Proposed steep tariffs on Chinese EV imports provide a good example of the trilemma.
They may well safeguard security by protecting a domestic production base. But they could discourage the uptake of EVs, which are already experiencing a slowdown in sales. Moreover, such unilateral action against China could escalate geopolitical tensions, thereby generating new risks, including Chinese retaliation. The path to effective de-risking is clearly fraught with trade-offs and requires careful navigation.
There is scant evidence that China is on its way to becoming a near-monopoly in global EV production itself, but it may seek to benefit from its near-monopoly in key inputs. The ultimate question that the government should answer is, therefore, whether the security concerns regarding these chokepoints, and more generally China’s willingness to compete fairly under these conditions, justify the costs and risks of higher tariffs. The burden on Ottawa is to provide concrete evidence to that effect before imposing an inherently costly tariff on Canadians.
Ari Van Assche is a professor of international business at HEC Montréal and Fellow-in-Residence at the C.D. Howe Institute.
For years the ‘bad ones’ have poisoned rivers, devastated forests and displaced communities, and now massive companies are rushing to dig up the seabed for precious metals.
MIT: “The ocean’s deep-sea bed is scattered with ancient, potato-sized rocks called “polymetallic nodules” that contain nickel and cobalt — minerals that are in high demand for the manufacturing of batteries, such as for powering electric vehicles and storing renewable energy, and in response to factors such as increasing urbanization. The deep ocean contains vast quantities of mineral-laden nodules, but the impact of mining the ocean floor is both unknown and highly contested.”
And yet, only twenty-four people have the regulatory powers to stop this type of plunder in our planet’s most fragile places: The International Seabed Authority. You’ve likely never heard of them because this group attracts as little attention as an underwater mine miles offshore.
A few countries have agreed to full or partial bans, and leading scientists have appealed for a freeze on deep sea mining contracts.
Mining companies claim they can mine the seabed safely, but authorities in Namibia, Australia and New Zealand have blocked seabed mining projects. Scientists point out that many deep water species are being discovered quite regularly, and that the ocean floor can take decades to recover from disturbances such as the creation of sediment plumes from deep sea floor bed mining.
The International Seabed Authority has already issued licenses for exploratory mining across 1.2 million square kilometers of ocean floor. As mentioned earlier, this regulatory body is almost unknown, and its 24-person Legal and Technical Committee is solely responsible for the detailed scrutiny of proposals and environmental safeguards.
Will invest AED 62.4 million / $16.99 million USD / $21.82 million CAD on constructing UAE’s first used battery recycling centre in Ras Al Khaimah.
Ras Al Khaimah Economic Zone (RAKEZ) welcomed Royal Gulf Industries, a state-of-the-art lead acid battery recycling company, to its dynamic industrial ecosystem. A subsidiary of Hyderabad Castings Limited and part of Nakhat Group, the new company is set to invest AED 62.4 million (USD 17 million) to construct the UAE’s first environment-friendly automotive battery recycling centre on approximately 110,000 ft2 of land at Al Ghail Industrial Zone. Royal Gulf Industries will employ more than 150 people in its facility, which is set to be ready in the fourth quarter of 2022.
The company aims to recycle up to 35,000 metric tonnes of used lead acid batteries annually.
This will produce 21,500 tonnes of lead ingots and 2,400 metric tonnes of plastic granules. Both of these materials will be largely exported to India, Japan, Korea, China and Europe for the manufacturing of new lead acid batteries and cases. This activity accounts for recycling around 58% of the lead acid battery scrap generated in the UAE.
Ramy Jallad, Group CEO of RAKEZ, and Yogesh Nakhat Jain, Managing Director of Royal Gulf Industries, marked the beginning of the recycling unit’s construction during a recent signing ceremony held between the two parties at the RAKEZ Compass Coworking Centre.
“We are very excited to start our journey in the UAE, where we will be fully recycling battery waste in an environment-friendly way. We aim to collect waste batteries not just from the UAE, but also import from around the world to make Ras Al Khaimah a hub for recycling” said Hanuman Mal Nakhat, Chairman of Royal Gulf Industries.
“RAKEZ has supported us every step of the way in turning this massive project into a reality. Our customer experience so far has been excellent as we have received support not just for our company registration, but also for developing our business in the UAE. From liaising with government entities, including Environment Protection and Development Authority, RAK Municipality, Waste Management Authority and Ministry of Industry and Advanced Technology on our behalf to secure the relevant approvals, to hosting us during our visits to Ras Al Khaimah in the past three years of planning the company’s set-up formalities. The team also helped us find the right suppliers and connect with construction companies. We are confident that RAKEZ will continue to play a crucial role in the fulfilment of our vision by offering us all the assistance and support during our business journey,” he added.
Jallad said: “We are glad to be the chosen base for Royal Gulf Industries’ pioneering recycling facility in the UAE. Ras Al Khaimah’s leadership has been striving for environment sustainability. Hence, Royal Gulf Industries, along with other RAKEZ companies in the closed-loop supply chain complement the emirate’s efforts.” He added, “These companies boost the country’s non-oil GDP and advance the national sustainability agenda. We are committed to support their goal of making an impact in the planet through our nurturing and collaborative industrial ecosystem.”
In its second phase spanning three years, Royal Gulf Industries plans to invest about AED 125 million / $34.03 million USD / $43.71 million CAD and create 350 jobs in Ras Al Khaimah. The company also aims to make the UAE a hub for recycling metals, creating global supply chains.