Good news for the electric vehicle (EV) industry- General Motors (GM) and Lithium Americas have inked a $625 million joint venture to develop the Thacker Pass lithium project in Nevada. This partnership is another power play to boost the U.S. domestic supply chain for EV batteries and reduce reliance on lithium imports, particularly from China.
The Background: Lithium Americas Secured $2.3B DOE Loan to Drive Thacker Pass Development
In March 2024, Lithium Americas secured a $2.3 billion loan from the U.S. DOE through its Advanced Technology Vehicles Manufacturing (ATVM) Loan Program. This funding will support the development of the Thacker Pass lithium project in Nevada.
However, before Lithium Americas can access the loan, they must contribute $195 million, which will be used to cover expenses for construction and ramping up production. Additionally, General Motors (GM) will also provide a line of credit to help fund these requirements.
General Motor’s Key Investment in 2023
Back in January 2023, General Motors made a substantial investment in Lithium Americas, agreeing to provide $650 million. This was divided into two parts: the first $320 million was delivered immediately and used to advance the first phase of Thacker Pass.
But the second part of the investment, or Tranche 2, encountered some changes. Both companies decided to revise the terms due to a company reorganization. Tranche 2 was supposed to be completed by the end of 2023.
On August 30, 2024, Lithium Americas and GM extended the deadline for Tranche 2 of their investment agreement to explore better options for GM’s additional investment. They ended the original agreement when they signed a new joint venture deal. This new deal was announced on October 16.
Unlocking the Latest JV
The latest press release mentions that General Motors has agreed to invest $625 million in cash and letters of credit for a 38% stake in the Thacker Pass project. Lithium Americas, which will manage the project, retains a 62% interest and will contribute $387 million to the joint venture. The funds will be used to develop the first stage of the project, which might cost around $2.9 billion.
Jonathan Evans, President and CEO of Lithium Americas
“Our relationship with GM has been significantly strengthened with this joint venture as we continue to pursue a mutual goal to develop a robust domestic lithium supply chain by advancing the development of Thacker Pass. Today’s joint venture announcement is a win-win for GM and Lithium Americas. GM’s JV Investment demonstrates their continued support and helps us to unlock the previously announced $2.3 billion DOE Loan. We will be working closely with GM to advance towards the final investment decision, which we are targeting by the end of the year.”
Domestic Lithium Supply to Support GM’s EV Ambitions
One of the highlights of the joint venture is GM’s expanded offtake agreement. It extends for up to 100% of lithium production from Thacker Pass’ first stage for 20 years. This agreement will help GM ensure a steady supply of lithium for its future EV batteries.
GM also secured the right to acquire up to 38% of production from the project’s second stage, with the ability to negotiate first offers for any remaining volumes.
The company’s investment in Thacker Pass is driven by the need to secure a long-term supply of lithium as the company continues to scale up its EV production.
According to Jeff Morrison, SVP, of Global Purchasing and Supply Chain of General Motors remarked,
“We’re pleased with the significant progress Lithium Americas is making to help GM achieve our goal to develop a resilient EV material supply chain. Sourcing critical EV raw materials, like lithium, from suppliers in the U.S., is expected to help us manage battery cell costs, deliver value to our customers and investors, and create jobs.”

GM’s Net Zero Pathway
The Michigian-based EV maker aims to achieve carbon neutrality in their global products and operations by 2040.

Source: GM
As described in GM’s sustainability report, significant progress made to reduce Scope 3 emissions include:
- Battery production and expansion through Ultium Cells LLC- JV with LG Energy Solution, which is manufacturing cells for its Ultium Platform.
- Collaborating with Tesla to integrate the North American Charging Standard (NACS) for their EVs. It will start in 2025.
- Investing in home, workplace, and public charging infrastructure in the U.S. and Canada.
- Investing in hydrogen fuel cell technology to reduce the carbon emissions of medium- and heavy-duty vehicles.
- Addressing the barriers to EV ownership in the United States through dealership education and engagement.
Lithium Prices and Market Challenges
While the deal is progressing the lithium market is also fluctuating simultaneously.
MINING.COM reported that prices of battery-grade lithium hydroxide have experienced a sharp decline, falling to $9,800 per ton in October 2024 from $22,275 a year earlier. This marked a significant drop from the peak prices which were around $85,000 per ton in late 2022.
Despite these market challenges, Lithium Americas continues to advance the project, positioning itself to benefit from a projected long-term demand increase for lithium as the EV market expands. The company’s shares saw a 20.2% rise after the JV announcement. This showed investor confidence in the project’s potential.
Thacker Pass: The Gateway to North American Lithium Battery Supply Chain for EVs
The Thacker Pass project is well underway, with approximately 40% of the engineering design already completed. Major site preparations are progressing, with earthworks for the process plant excavation nearing completion and preparations for concrete placement underway.
Located in northern Nevada’s Humboldt County, Thacker Pass is home to the largest known lithium deposit in North America. 385 million tonnes of measured and indicated resources, equivalent to six million tonnes of lithium carbonate. The mine is expected to produce enough lithium to power one million electric vehicles annually, a critical contribution to the growing U.S. EV market.
Source: Lithium Americas
Lithium Americas is focused on getting the project ready for final investment decisions by the end of the year.
- The project’s first phase targets a production capacity of 40,000 tonnes of lithium carbonate per year, with significant progress anticipated in the next few years.
What’s Next for Thacker Pass?
The next steps for the joint venture include finalizing engineering designs and procurement contracts as well as securing the final investment decision by the end of 2024. GM’s involvement in the project will help Lithium Americas unlock the DOE’s loan. Subsequently, this will provide the necessary financial support to fully develop the project.
As part of the agreement, GM and Lithium Americas are working closely with Bechtel, the project’s engineering, procurement, and construction management contractor. It can create around 1,800 direct jobs during its three-year construction period.
In the coming months, the Thacker Pass project will focus on de-risking and advancing construction to ensure it meets its targets for lithium production. Once operational, the mine will significant role in securing a domestic supply of lithium. Consequently, supporting the growing demand for EVs and pushing the U.S. clean energy transition.
Key Implications in the future:
- Thacker Pass could provide lithium for up to 800,000 EVs annually, reducing U.S. reliance on foreign suppliers.
- It supports the U.S. goal of net-zero greenhouse gas emissions by 2050, aligned with President Biden’s climate goals.
- A domestic lithium supply chain would lower carbon emissions, transport costs, and supply chain risks for U.S. car manufacturers.
- Sustainably sourced battery materials would help produce electric vehicles with a smaller carbon footprint.
Notably, Lithium Americas is also in a strong position to meet the growing demand for EV batteries. It will continue to secure additional funding to fuel its motive. However, at this moment, partnering with GM will significantly impact the domestic lithium market and in a good way.
Source: Lithium Americas News Release and General Motors Sustainability Report
SEE MORE: The Fastest Developing North American Lithium Junior
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Carbon Footprint
Climate Impact Partners Unveils High-Quality Carbon Credits from Sabah Rainforest in Malaysia
The voluntary carbon market is changing. Buyers are no longer focused only on large volumes of cheap credits. Instead, they want projects with strong science, long-term monitoring, and clear proof that carbon has truly been removed from the atmosphere. That shift is drawing more attention to high-integrity, nature-based projects.
One project now gaining that spotlight is the Sabah INFAPRO rainforest rehabilitation project in Malaysia. Climate Impact Partners announced that the project is now issuing verified carbon removal credits, opening access to one of the highest-quality nature-based removals currently available in the global market.
Restoring One of the World’s Richest Rainforest Ecosystems
The project is located in Sabah, Malaysia, on the island of Borneo. This region is home to tropical dipterocarp rainforest, one of the richest forest ecosystems on Earth. These forests store huge amounts of carbon and support extraordinary biodiversity. Some dipterocarp trees can grow up to 70 meters tall, creating habitat for orangutans, pygmy elephants, gibbons, sun bears, and the critically endangered Sumatran rhino.
However, the forest within the INFAPRO project area was not intact. In the 1980s, selective logging removed many of the most valuable tree species, especially large dipterocarps. That caused serious ecological damage. Once the key mother trees were gone, natural regeneration became much harder. Young seedlings also had to compete with dense vines and shrubs, which slowed the forest’s recovery.
To repair that damage, the INFAPRO project was launched in the Ulu-Segama forestry management unit in eastern Sabah.
- The project has restored more than 25,000 hectares of logged-over rainforest.
- It was developed by Face the Future in cooperation with Yayasan Sabah, while Climate Impact Partners has supported the project and helped bring its credits to market.
Why Sabah’s Carbon Removals are Attracting Attention
What makes Sabah INFAPRO different is not only the size of the restoration effort. It is also the way the project measured carbon gains.

Many forest carbon projects issue credits in annual vintages based on year-by-year growth estimates. Sabah INFAPRO followed a different path. It used a landscape-scale monitoring system and waited until the forest moved through its strongest natural growth period before issuing removal credits.
- This approach gives the credits more weight. Rather than relying mainly on short-term annual estimates, the project measured carbon sequestration over a longer period. That helps show that the forest delivered real, sustained, and measurable carbon removal.
The scientific backing is also unusually strong. Since 2007, the project has maintained nearly 400 permanent monitoring plots. These plots have allowed researchers, independent auditors, and technical specialists to observe the full growth cycle of dipterocarp forest recovery. The result is a large body of field data that supports carbon calculations and strengthens confidence in the credits.
In simple terms, buyers are not just being asked to trust a model. They are being shown years of direct forest monitoring across the project landscape.
Strong Ratings Support Market Confidence
Independent assessment has also lifted the project’s profile. BeZero awarded Sabah INFAPRO an A.pre overall rating and an AA score for permanence. That places the project among the highest-rated Improved Forest Management, or IFM, projects in the world.
The rating reflects several important strengths. First, the project has very low exposure to reversal risk. Second, it has a long and stable operating history. Third, its measured carbon gains align well with peer-reviewed ecological research and independent analysis.
These points matter in today’s market. Buyers have become more cautious after years of debate over the quality of some forest carbon credits. As a result, they now look more closely at durability, transparency, and third-party validation. Sabah INFAPRO’s rating helps answer those concerns and makes the project more attractive to companies looking for credible carbon removal.
The project is also registered with Verra’s Verified Carbon Standard under the name INFAPRO Rehabilitation of Logged-over Dipterocarp Forest in Sabah, Malaysia. That adds another level of market recognition and verification.
A Wider Model for Rainforest Recovery
Sabah INFAPRO also shows why high-quality nature-based projects are about more than carbon alone. The restoration effort supports broader ecological recovery in one of the world’s most important rainforest regions.
Climate Impact Partners said it has worked with project partners to restore degraded areas, run local training programs, carry out monthly forest patrols, and distribute seedlings to support rainforest recovery beyond the project boundary. These efforts help strengthen the wider landscape and expand the project’s environmental impact.
That broader value is becoming more important for buyers. Companies increasingly want projects that support biodiversity, ecosystem health, and local engagement, along with carbon removal. Sabah INFAPRO offers that mix, making it a stronger fit for the market’s shift toward higher-integrity credits.

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Carbon Footprint
Bitcoin Falls as Energy Prices Rise: Why Crypto Is Now an Energy Market Story
Bitcoin’s recent drop below $70,000 reflects more than short-term market pressure. It signals a deeper shift. The world’s largest cryptocurrency is becoming increasingly tied to global energy markets.
For years, Bitcoin has moved mainly on investor sentiment, adoption trends, and regulation. Today, another force is shaping its direction: the cost of energy.
As oil prices rise and electricity markets tighten, Bitcoin is starting to behave less like a tech asset and more like an energy-dependent system. This shift is changing how investors, analysts, and policymakers understand crypto.
A Global Power Consumer: Inside Bitcoin’s Energy Use
Bitcoin depends on mining, a process that uses powerful computers to verify transactions. These machines run continuously and consume large amounts of electricity.
Data from the U.S. Energy Information Administration shows Bitcoin mining used between 67 and 240 terawatt-hours (TWh) of electricity in 2023, with a midpoint estimate of about 120 TWh.

Other estimates place consumption closer to 170 TWh per year in 2025. This accounts for roughly 0.5% of global electricity demand. Recently, as of February 2026, estimates see Bitcoin’s energy use reaching over 200 TWh per year.
That level of energy use is significant. Global electricity demand reached about 27,400 TWh in 2023. Bitcoin’s share may seem small, but it is comparable to the power use of mid-sized countries.
The network also requires steady power. Estimates suggest it draws around 10 gigawatts continuously, similar to several large power plants operating at full capacity. This constant demand makes energy costs central to Bitcoin’s economics.
When Oil Rises, Bitcoin Falls
Bitcoin mining is highly sensitive to electricity prices. Energy is the highest operating cost for miners. When power becomes more expensive, profit margins shrink.
Recent market movements show this link clearly. As oil prices rise and inflation concerns persist, energy costs have increased. At the same time, Bitcoin prices have weakened, falling below the $70,000 level.

This is not a coincidence. Studies show a direct relationship between Bitcoin prices, mining activity, and electricity use. When Bitcoin prices rise, more miners join the network, increasing energy demand. When energy costs rise, less efficient miners may shut down, reducing activity and adding selling pressure.
This creates a feedback loop between crypto and energy markets. Bitcoin is no longer driven only by demand and speculation. It is now influenced by the same forces that affect oil, gas, and power prices.
Cleaner Energy Use Is Growing, but Fossil Fuels Still Matter
Bitcoin’s environmental impact depends on its energy mix. This mix is improving, but it remains uneven.
A 2025 study from the Cambridge Centre for Alternative Finance found that 52.4% of Bitcoin mining now uses sustainable energy. This includes both renewable sources (42.6%) and nuclear power (9.8%). The share has risen significantly from about 37.6% in 2022.
Despite this progress, fossil fuels still account for a large portion of mining energy. Natural gas alone makes up about 38.2%, while coal continues to contribute a smaller share.

This reliance on fossil fuels keeps emissions high. Current estimates suggest Bitcoin produces more than 114 million tons of carbon dioxide each year. That puts it in line with emissions from some industrial sectors.
The shift toward cleaner energy is real, but it is not complete. The pace of change will play a key role in how Bitcoin fits into global climate goals.
Bitcoin’s Climate Debate Intensifies
Bitcoin’s growing energy demand has placed it at the center of ESG discussions. Its impact is often measured through three key areas:
- Total electricity use, which rivals that of entire countries.
- Carbon emissions are estimated at over 100 million tons of CO₂ annually.
- Energy intensity, with a single transaction using large amounts of power.

At the same time, the industry is evolving. Mining companies are adopting more efficient hardware and exploring new energy sources. Some operations use excess renewable power or capture waste energy, such as flare gas from oil fields.
These efforts show progress, but they do not fully address the concerns. The gap between Bitcoin’s energy use and its environmental impact remains a key issue for investors and regulators.
- MUST READ: Bitcoin Price Hits All-Time High Above $126K: ETFs, Market Drivers, and the Future of Digital Gold
Bitcoin Is Becoming Part of the Energy System
Bitcoin mining is now closely integrated with the broader energy system. Operators often choose locations based on access to cheap or excess electricity. This includes areas with strong renewable generation or underused energy resources.
This integration creates both opportunities and challenges. On one hand, mining can support energy systems by using power that might otherwise go to waste. It can also provide flexible demand that helps stabilize grids.
On the other hand, it can increase pressure on local electricity supplies and extend the use of fossil fuels if cleaner options are not available.
In the United States, Bitcoin mining could account for up to 2.3% of total electricity demand in certain scenarios. This highlights how quickly the sector is scaling and how closely it is tied to national energy systems.
Energy Markets Are Now Key to Bitcoin’s Future
Looking ahead, the connection between Bitcoin and energy is expected to grow stronger. The network’s computing power, or hash rate, continues to reach new highs, which typically leads to higher energy use.
Electricity will remain the main cost for miners. This means Bitcoin will continue to respond to changes in energy prices and supply conditions. At the same time, governments are starting to pay closer attention to crypto’s environmental impact, which could shape future regulations.

Some forecasts suggest Bitcoin’s energy use could rise sharply if adoption increases, potentially reaching up to 400 TWh in extreme scenarios. However, cleaner energy systems could reduce the carbon impact over time.
Bitcoin is no longer just a financial asset. It is also a large-scale energy consumer and a growing part of the global power system.
As a result, understanding Bitcoin now requires a broader view. Energy prices, electricity markets, and carbon trends are becoming just as important as market demand and investor sentiment.
The message is clear. As energy markets move, Bitcoin is likely to move with them.
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Carbon Footprint
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