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On thorium, South Carolina nuclear, and green steel

heatmapAM_logo_fullcolor_whitebg (https://d2QWfV04.na1.hubspotlinks.com/Ctc=
/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsDs3pyd0W6N1vHY6l=
Z3pbN8pMxzpgs9QHW3Vqccr1DRm0XW6tTDtf47Rh2zW4kKDrZ4L2BLZW2CLDlp4yYMb4W1GBC6Z=
1QwDJ7W53vYlN6nR_gxW5-dPHH8JP7xRW3QVr697PLf8HW6jMYDZ2bSf93Vd5wzY5qc6N-W8hYQ=
9f8FQCBVW3J2MNf4CbmVrW3rRGFB4b9YMVVJj0mS6tvYVKW78sgHn36_3R_VYn0ml1SDt_3W84b=
p_M6_2VsdW5mBdR85J1s8fW7xxRvZ6glcCTW4cGqTD8FsRsrW6D1HM05BTZn1f9lvxDP04 )

ALEXANDER C. KAUFMAN =E2=80=A2 MAY 5, 2026

Current conditions: Severe thunderstorms are drenching the American South f=
rom New Orleans to Virginia Beach =E2=80=A2 Mount Mayon has forced thousand=
s to evacuate within the Philippines=E2=80=99 Bicol peninsula =E2=80=A2 Tem=
peratures in Denver are poised to plunge from about 75 degrees Fahrenheit y=
esterday to 39 degrees today with a chance of snow.

THE TOP FIVE

1. The U.S. grid reliability watchdog just issued a rare, very serious warn=
ing

Looking dimmer. Photo: Justin Sullivan/Getty Images

The North American Electric Reliability Corporation, the quasi-governmental=
 watchdog that monitors the health of the power grids that span the United =
States and Canada, has issued a rare Level 3 warning. The alert, announced =
(https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_q=
yd98D4WHW4gSXWJ5NH-yjN8JCsCz5n4LbW50kH_H6lZ3kBMn3ws5wzKbqN2SWzQXCbdzjW3_DVW=
P93Y379N8B1sfxXTV7ZW81L4MC5cBSnBW8Y7td816g7VCW7WLfyB140sxgVD5Q0M26J8MVW4-sL=
Yp1Pk0vCW2_w8D46Gk-l5W7Lw5DX3c8Q53W4Q3zFq255yZYW41JSRb6P-8-JVZt8mL6J9rJhW4k=
0lBW2Lr-5kW6gT2S27xzHWdW7sjNNz4kkKyLW4DTgHH6bBrV3N7YRkZNFFxSrW9js5Vv5_WmcBV=
TL76-62SSwlW4kk3wm8NLrfhW3PwmbJ8ps0jgN8BM4yljcF4gW6q8SDt8zkr3qW6cs2p46DSsdL=
N1sVHf-w6j2xW9dqHf74Jyd5yW5dGk9X8q97qZW7N48Nv3f_nzBW28r0-Z78zL32N3dvcbsw5vZ=
Wf9bsQZY04 ) Monday, marks only the third time NERC has put out a notice wi=
th that degree of severity in its 58-year history. The warning comes on the=
 heels of reports that data centers abruptly went offline in Virginia and T=
exas, prompting concerns of potential blackouts. =E2=80=9CComputational loa=
ds, such as data centers, could increase exponentially in the next four yea=
rs,=E2=80=9D NERC said in a draft (https://d2QWfV04.na1.hubspotlinks.com/Ct=
c/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsD85n4LbW69t95C6=
lZ3lFW7N4KBw2nj1QNW15RDp46pHXpkW5FwMCX53CMwSVNsH2Z5ljp_QW668hW_7gK7PwW3Lllh=
v8ppML1W2LH0Rq4KypnyW5kp0D16RFNF6W5_bcd57kkB66W4Vgxvg5Ct0r-W1ylQYr1w5xPwW6Z=
MHSQ4phjpFW1SVpRH5pdbrmW7_TDCn745WLQW2WzsMT1Frw5YW3JmcC62kwDWfW2Kcl8q8d-hzZ=
W2RK-c_6nL-7sW320cZL4WynDNW3l28cS2wntcLW17ZpYn8KBdnMN3bR_n5mcwxgW4hKh0L8l5G=
S0W8cT_Wx6fC65dW7HzLWs40XxMbW4mKGdv8Mb670N6ZsxV_HlFksW9ldrfW4-TMxMN8fMjqW2R=
DzLW7_4Nq66nhYLjW4rKVtW3cMDFqN1MN1t9Cb7zPN1XQHpkctjkmW2FHR703pVss1W4XQhGx7D=
rkL3W5mwHZj7BbqjMf2Zp4z-04 ) of the alert, adding that =E2=80=9Csignificant=
 risks=E2=80=9D to the power network =E2=80=9Cneed to be addressed through =
immediate industry action.=E2=80=9D Lee Shaver, a senior energy analyst at =
the Union of Concerned Scientists, told E&E News (https://d2QWfV04.na1.hubs=
potlinks.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCs=
FF3pyd0W95jsWP6lZ3kvW6ynFnm5_jpG-W7pRrzv5W-1cMW6_QsS97JCTG5W51rchq7ywt5FN6-=
skrfhDzH2W23GV4D45c3-4W8gM1563LNMMBW7m2_t235FMXnW6bJ-qG632Pf0W6lw1kp4GY4fPN=
3nNcK_bh6WnW3sLPdB63gGxkW1NglJh4pNSvNN1WXZFRv7HRxW6p4YxC4dJHRPW28yww020f77x=
W5t-9-g5fyMzKVCQHb18lkwCBW21RngB6GZp8dW81SDWH5K-pDHW6P1wch4B6nRmW6MzYxL2HcK=
9qW1h4rmS9gTBmmW4S2_5f5J9pTWW1BCpkn2s008LW8N8md92WL0TKW8LSy_V1gPGQ9W8_GDby7=
m9R3fV1fRZB8W0t5QVfbhLY2fkhb3f3xD8Pd04 ) that NERC=E2=80=99s action was a =
=E2=80=9Cbig deal.=E2=80=9D

2. California probes offshore wind developer that took Trump=E2=80=99s exit=
 deal

The California Energy Commission has issued an administrative investigative=
 subpoena (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VW33hs5=
rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsDM3pyd0W7lCdLW6lZ3lCW5rJ2dL5_qFfsN1CLlw=
VvNmNfW5jFCC-1YTv1xW2DgX4j2V2J4nN42BkV7fTzRpW4NKYp797_H6QN3yfKz83SGwvW3L813=
c8HmptTW4jSfSG75dMbTN4JZVwhB7gntW8tkkLV5WjD3FW76shmc4F77tVW8WjbQj5NRx5VV6jw=
5-2JP98kN2cnLDvNtHb5W2zwDYl81HL8JN7_bCMdJ_kCTN25LvDgJKHK6W80s4Q838KGtTW37_T=
6D2rZ4ccN5pr1cCNskY_W459ml012kp-cW5hwL-15NRvrjW72FqMw5PjyP8f6xSy6W04 ) to G=
olden State Wind seeking documents and information related to the company=
=E2=80=99s recent deal with the U.S. Department of the Interior to take a p=
ayout in exchange for abandoning its offshore wind lease. Last week, the de=
veloper announced a deal to scrap its lease in the Morro Bay Wind Energy of=
f the central California coast for $120 million as part of the Trump admini=
stration=E2=80=99s efforts to kill off an industry he failed to destroy thr=
ough regulatory fiat alone. The facility was supposed to be California=E2=
=80=99s first offshore wind farm, and planned to use floating turbines to a=
ccount for the steep continental shelf dropoff on the nation=E2=80=99s Paci=
fic Coast. Now the administration=E2=80=99s latest =E2=80=9Cshady deal=E2=
=80=9D is drawing scrutiny from state regulators. =E2=80=9CThe Trump Admini=
stration is recklessly spending billions of taxpayer dollars on backroom de=
als that would turn back the clock on innovation,=E2=80=9D David Hochschild=
, the chairman of the California Energy Commission, said in a statement (ht=
tps://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd9=
8D4WHW4gSXWJ5NH-yjN8JCsCz5n4LbW50kH_H6lZ3ktW7YNFW08_cMyRW4BKvBN4-rtdXW3xRlk=
z2HGnqTW3Q7Ym-5M_Lt8N4tV73MXk2BlW5kqmn96n2_DwVgFLsM5WxglQW2sJRQ988b7FVVfPsS=
r95P_R3W1VdVtH7px__MW1cLxTr2nKrl3Vhj9sw5DgcPFW1zpx5R3gyG4-W3_nDY-5kS0zgVP6h=
jQ3vmd05W2jHHqL7scjzZW5VyHxN1b8FTMW584Cxv4wB5tnW4d1H1Z4wz3YmW7FkNrZ7c2HfFW2=
mg_M91_xlVMW90Qn0K8wVgGVW70npFW2c124xW7R_hRp2m1qMlW5mwWl575yt9kV8PjQL2TqD04=
W8QnR-T7nLhmtW64zSNc4CBt8PW3JnXlr1zjlr6W1WDCc26YtDssVgMVVx7F0nw8W2Lm2Kr71X-=
XTf1ctZYC04 ) . =E2=80=9CCalifornians deserve immediate answers about the n=
ature of this payout. Taxpayer dollars should be used to build a sustainabl=
e energy future, not to pay to make projects disappear.=E2=80=9D

Meanwhile, California=E2=80=99s grid operator has switched on a new regiona=
l electricity market as part of what E&E News (https://d2QWfV04.na1.hubspot=
links.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsFF3=
pyd0W95jsWP6lZ3ljW6jx7y55RVZlhW3r-YZS7vZQxxW26cMJl3QdFzRW4s03sK4XG891W1WmNB=
x2WzHGBW6ZBLfp66JvQ_MSYZ6dzzxrMW2HMnHf38HgJLW7bQKQ669-QBQW3csgdV5tT87SVmvVX=
t4bNDmhVTq8gl73wxCTW87VZTY75Js83VfjM9F2Fh-HKW46Y3BK6xp5YVW6ddPty3VJHw2W90f3=
xq3wwrzJW2TlBGB46gTNXW67z7F33bzH2nW8Jcnvx3RpjJXW8T6PM460F47zN6hSW3cBR4yrW5y=
n5f68Pw7cjN7Ctgc7W54zbW1y5YMY3srtSRW48Krvs6v8zzlW6ZcCrs8ctJcTW2cyHLs4wjX11W=
10yJMC7kC904W9d2D-_2yD7pVf96RlDF04 ) called =E2=80=9Ca major milestone in t=
he yearslong push to expand energy trading=E2=80=9D across the American Wes=
t. The California Independent System Operator launched its new Extended Day=
-Ahead Market early Friday morning, allowing California=E2=80=99s investor-=
owned utilities and the Northwestern giant PacifiCorp, whose coverage area =
spans two million customers across six states, to trade electricity on the =
regional market for the first time. =E2=80=9CThe West is rich with a divers=
e mix of renewable resources, and this market will capture their potential,=
=E2=80=9D Michael Colvin, director of the California energy program at the =
Environmental Defense Fund, said in a statement (https://d2QWfV04.na1.hubsp=
otlinks.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsC=
T5n4LbW5BWr2F6lZ3mgW7rHNxc7b28WXVscjLR994FZBW66rttc7fqcmcV9GpYY1PH5cBW275Ws=
F4tkp0RVvFFnK5bLT5yW4DwvSQ84Kl8YW8MschK72bD5QW6zjjnR5_MMX6W3T4Z7c36Q-zpW8mJ=
JZR4VS2nDW5rc_Pp525QbyW1-rrf48wbc7FV4Rlkc4b8VlYW2n4BMC180g8mW44nQfz510ByhW1=
HHFV_17Y7RpVb4jXp3Spn58VxQ68P1GtjW8W2sX29h1y8SztW3L35VM2QM5twVq9bSH8tsXl-W3=
25W6s76z_wpW7h91Dp9cDGdGW25tJ342ZfKtlW5D7FXM3j-Rg9W8KZcyg6DtszdW3ZK55m5GfbC=
RW687Gp88kpCx4W2VLgdW5tD8ZpW5h9xwv5B11bhW2K76Kb7TyfL1W3pQqVZ17gPslW5RL68t7k=
y0BKf10DXG204 ) . =E2=80=9CThrough better sharing of cheap, clean energy be=
yond state borders, the market will cut household bills, reduce reliance on=
 expensive, polluting fossil plants and build a grid that's bigger than any=
 single extreme weather event.=E2=80=9D

3. Exclusive: America=E2=80=99s most advanced thorium bet just hit a major =
milestone

For nearly as long as there have been nuclear power plants, there have been=
 thorium bulls insisting the metal is a better fuel than uranium. In most p=
laces, the thorium dream faded long ago as ample new sources of uranium wer=
e discovered. But China revived the thorium race in 2023, when its experime=
ntal molten salt reactor powered by the metal split atoms for the first tim=
e. Now the only serious contender in the entire West looking to commerciali=
ze thorium is a Chicago-based company taking an unusual approach. Rather th=
an creating a whole new kind of reactor to run on thorium, Clean Core Thori=
um Energy has designed fuel assemblies that blend thorium with a special ki=
nd of uranium fuel and work in existing reactors without any modifications.=
 Clean Core=E2=80=99s technology only works, at least for now, in pressuriz=
ed heavy water reactors, which make up the bulk of the fleets in Canada and=
 India, though the U.S. has none in operation. But the key verb there is th=
at: It works. On Tuesday, I can exclusively report for this newsletter, Cle=
an Core plans to announce that its patented fuel completed a high burnup ir=
radiation test at Idaho National Laboratory=E2=80=99s Advanced Test Reactor=
. The fuel burnup represented =E2=80=9Cmore than eight times the typical=E2=
=80=9D output from the traditional uranium fuel used in pressurized heavy w=
ater reactors. The latest test =E2=80=9Cprovides meaningful performance dat=
a=E2=80=9D and demonstrates that Clean Core=E2=80=99s fuel =E2=80=9Cachieve=
 burnup levels comparable to those seen in PWR fuels while offering improve=
d fuel utilization, enhanced safety characteristics, inherent proliferation=
 resistance, and meaningful reductions in long-lived nuclear spent fuel rad=
ioisotopes,=E2=80=9D Mehul Shah, Clean Core=E2=80=99s chief executive, told=
 me in a statement. =E2=80=9COur objective has been to introduce thorium in=
to the nuclear fuel cycle in a practical way using existing reactors, and t=
his milestone represents a significant step toward that goal.=E2=80=9D

It=E2=80=99s the latest good news for Clean Core. Last month, as I reported=
 for Heatmap (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VW33=
hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsDM3pyd0W7lCdLW6lZ3p_V25GQ43wwRL-W7xp=
ZyL1VSzM3Vd1pGd5cw25LV1bXC-4DFNSsW966-tS4f9LVRW6TNWHy3clXVxW60VZKY1F1gdGN43=
fDhTsQ7C6W78zL_Q2M02f4N55WSry7QNBXVLzbfr7ZyqdDW3MtMS_5cJn2hW83DnlL5cGTj9W1V=
_lVw7ZQXg9W694xHT3wvJ5MW98QhBH6Hrmy1W515FY-9lJstkW4lG9Zn4zQgl9W85qbZS3RznNh=
VLbNwS66QWrnW1wbF6r5dxwj_W6kNQqc30Kg5GN64K_mcBn7BsW10tFX37SjvrWf9lxG0-04 ) =
, the company inked a deal with the Canadian National Laboratories to manuf=
acture its first commercial fuel assemblies.

4. New joint venture forms to complete South Carolina=E2=80=99s aborted nuc=
lear megaproject

In July 2017, South Carolina abandoned its $9 billion expansion of the V.C.=
 Summer Nuclear Station, leaving ratepayers holding the bag and utility exe=
cutives facing prison time for lying about the project=E2=80=99s viability.=
 Now the pair of Westinghouse AP1000s planned at the site are making a come=
back. On Monday, Westinghouse-owner Brookfield Asset Management formed a ne=
w joint venture with The Nuclear Company, a reactor construction manager, t=
o work together on building more Westinghouse reactors such as the AP1000 o=
r the smaller version, the AP300. V.C. Summer is the likely first project. =
=E2=80=9COur team was built on the field of Vogtle and on some of the most =
complex energy projects in the world,=E2=80=9D Joe Klecha, The Nuclear Comp=
any=E2=80=99s chief nuclear officer, said in a statement (https://d2QWfV04.=
na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH=
-yjN8JCsFF3pyd0W95jsWP6lZ3m-W6m79Dt1J8GzvVzNyNQ6KwqX4W5N1Btm6grbn1W5gCF_b95=
v30VN7cFKQJ36zJxW5ptBQV5B_DZxW3QgWP_72KMvsW1WS2xS1RDSwmW8BvNhS6bVMs5W6XPz7w=
8NPYFLW4C4Qwy8X4hy9N1bSjS3DKRYjN5MwjwbCVbLzW7fGf9H5KkVMgW1CPJvd5WqZb4W1QH-r=
l6G2KrTW4zPPvl24DnbnW1FTZ2F2tprfFW5l6TS23lFmzzW8gwB_N5NHvvNW8KV4FP7dRX9dW5y=
8NH54qlJPBW7JdHs63HqvxxW77y9Xl6rm6k7W43fnsM5HqF19W7l1yS32fxJrVMQpSRvpp3DXN5=
6TyF-yXmnwW6_nQr84sW84NW1GqPNs1sXgDKf2HRcSq04 ) . =E2=80=9CWe know what it =
takes to deliver nuclear. What=E2=80=99s been missing is a model that bring=
s together the people, the capabilities, and the capital to do it at speed =
and scale. That=E2=80=99s what this partnership creates.=E2=80=9D The annou=
ncement comes as the Trump administration meets with utility executives to =
discuss funding deals to build the 10 new large-scale reactors President Do=
nald Trump ordered the Department of Energy to facilitate construction on b=
y 2029, as Heatmap=E2=80=99s Robinson Meyer reported (https://d2QWfV04.na1.=
hubspotlinks.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN=
8JCsF23pyd0W7Y8-PT6lZ3kWN1v7ZM05FnJWV_HNh481kP2dW8CVTGy7_g1GMW17mmpS2sCLjCW=
97yGRX3c3JgRW6cYhPp5kVgkpW4Y5CS446BdpgW1VtfHM27vnVdW4XvZJ06C5X7mW3HKzsb8sG6=
BWW51ttQq7hHf6RW88lRRz9dHXn9N6c00x0Px7fHW3ZdyW017T977TCfPd8llt7cW1tJr2625bC=
7FW7dkqKz5YpWFdW1M1RTb70Gyz7W7gNVLq8SYNCbN4wzy4dxZKNmW5_Rvc67xqBHsW2L698j6C=
XjmQN4PVVyXQGJMzVWmdHc1cR8ZWW6Hd5sR2Fg3RgW3t7Pcf7mSZzrf2NqQZl04 ) . Complet=
ing 10 AP1000s would give the U.S. economy a trillion-dollar boost, per a P=
ricewaterhouseCoopers report Westinghouse released (https://d2QWfV04.na1.hu=
bspotlinks.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8J=
CsF23pyd0W7Y8-PT6lZ3k_W7_mG8-7DL0yHW4M2hh71x3HjtMdxyjmm4T52W7N9b281GW60FW8n=
gH9_3MmsPyVyBxWR69kBlzVH8x4m6npT5ZW1SDt0978TyRrV3M6CS1fz5vmW8S95yv2_v2g-W3j=
kTYc5qgTL_W1NMx6137x_nVW95vzT943WZZ0N2mLsdCmHc82W4cvmtF7FqMlYW1nTqJR65PjnPW=
3RBTk28C8g9SN31JJjgvlpx2W1D46lZ3FKdtbN7VwgsMvrm85W3BRFN_166-jpW1FqtLQ2M2R7j=
W3z35pV2vLK4_W6__GpR1V48-TN71k3MDgn3ZpW4hn3W04lSbGmf8831fq04 ) in March.

That=E2=80=99s not the only nuclear developer making deals. On Tuesday morn=
ing, Blue Energy, another startup focused on serving as a project developer=
 for existing reactor designs, announced a partnership with GE Vernova to w=
ork on building the world=E2=80=99s first gas-plus-nuclear plant in Texas. =
The 2.5-gigawatt project would include GE Vernova=E2=80=99s gas turbines an=
d its BWRX-300 small modular reactors through its joint venture with Hitach=
i. =E2=80=9CInnovative projects like this one will help advance the future =
of nuclear power and meet the surging demand for electricity,=E2=80=9D Scot=
t Strazik, GE Vernova=E2=80=99s chief executive, said in a statement.

5. Green steel investments are going to all the wrong places

Steel, if you=E2=80=99re unfamiliar, is made in two big steps. Traditionall=
y, iron ore is melted down in a coal-fired blast furnace, then forged into =
steel in a basic oxygen furnace. New plants typically run on something call=
ed direct reduced iron, which uses natural gas to turn the ore into iron, t=
hen made into steel in an electric arc furnace. The latter process is far c=
leaner. It can even be green, if the natural gas is swapped for green hydro=
gen and the electric arc furnace is powered by renewables or nuclear reacto=
rs. Nearly 40% of all global clean steel investments to date are hydrogen-p=
owered DRI facilities. That=E2=80=99s according to new data from the Rhodiu=
m Group, which released its latest estimates Tuesday. Another 57% of invest=
ments are gas-powered DRI plants. While Europe has so far dominated investm=
ent into hydrogen DRI, =E2=80=9Cthe region will likely see relatively littl=
e demand growth for iron over the coming decades,=E2=80=9D the report found=
. In the fastest growing regions, such as India, Africa, and South America,=
 =E2=80=9Cmost new demand is being met with traditional, fossil-based ironm=
aking technologies, which risks locking in emissions for decades.=E2=80=9D =
The consultancy=E2=80=99s modeling shows that clean steel supply capacity i=
s on track to exceed demand by between 1.8 and 4.3 times by 2030, =E2=80=9C=
risking a collapse of the nascent industry, where existing projects cannot =
find buyers and scale production to drive down costs.=E2=80=9D

THE KICKER

It may be time for a new New Orleans. The city has reached a =E2=80=9Cpoint=
 of no return=E2=80=9D that will see it surrounded by ocean within decades =
as climate change worsens. That=E2=80=99s the conclusion of a new paper in =
the journal Nature Sustainability (https://d2QWfV04.na1.hubspotlinks.com/Ct=
c/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsDM3pyd0W7lCdLW6=
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W62T9vH4Hcls5f3w7C0804 ) . =E2=80=9CIn paleo-climate terms, New Orleans is =
gone; the question is how long it has,=E2=80=9D Jesse Keenan, an expert in =
climate adaptation at Tulane University and one of the paper=E2=80=99s five=
 co-authors, told The Guardian (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X=
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zW14S-jm3DNmHfW90-Fvj1cfBgLW2KShKB7zVvGVW1Xq0GH45MwZXW7fbb3Q2jPxFzf3C9rxH04=
 ) .

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=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =
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=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =
=C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=
=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =
=C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=
=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =
=C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=
=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =
=C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=
=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD &nbsp;
</div>
   =20
<!--[if gte mso 9]>
<v:background xmlns:v=3D"urn:schemas-microsoft-com:vml" fill=3D"t">
    <v:fill type=3D"tile" size=3D"100%,100%" color=3D"#ffffff"/>
</v:background>
<![endif]-->
    <div class=3D"hse-body-background" lang=3D"en" style=3D"background-colo=
r:#e6e6e6" bgcolor=3D"#e6e6e6">
      <table role=3D"presentation" class=3D"hse-body-wrapper-table" cellpad=
ding=3D"0" cellspacing=3D"0" style=3D"margin:0; padding:0; width:100% !impo=
rtant; min-width:320px !important; height:100% !important" width=3D"100%" h=
eight=3D"100%">
        <tbody><tr>
          <td class=3D"hse-body-wrapper-td" valign=3D"top" style=3D"font-fa=
mily:'Times New Roman', Times, serif; font-size:22px; color:#000000; word-b=
reak:break-word; padding-top:20px; padding-bottom:20px">
            <div id=3D"hs_cos_wrapper_main" class=3D"hs_cos_wrapper hs_cos_=
wrapper_widget hs_cos_wrapper_type_dnd_area" style=3D"color: inherit; font-=
size: inherit; line-height: inherit;" data-hs-cos-general-type=3D"widget" d=
ata-hs-cos-type=3D"dnd_area">  <div id=3D"module_1730982401850" class=3D"hs=
e-section hse-section-first" style=3D"padding-left:10px; padding-right:10px=
">
   =20
   =20
      <div class=3D"hse-column-container" style=3D"min-width:280px; max-wid=
th:600px; margin:0 auto; background-color:#ffffff; padding-top:30px" bgcolo=
r=3D"#ffffff">
   =20
    <!--[if (mso)|(IE)]>
      <table align=3D"center" style=3D"width:600px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation" width=3D"600" bgcolor=3D"#ffffff">
      <tr style=3D"background-color:#ffffff;">
    <![endif]-->
    <!--[if (mso)|(IE)]>
  <td valign=3D"top" style=3D"width:600px;padding-top:30px;">
<![endif]-->
<!--[if gte mso 9]>
  <table role=3D"presentation" width=3D"600" cellpadding=3D"0" cellspacing=
=3D"0" style=3D"width:600px">
<![endif]-->
<div id=3D"module_1730982401850_0" class=3D"hse-column hse-size-12">
  <div id=3D"hs_cos_wrapper_module_17309824018411" class=3D"hs_cos_wrapper =
hs_cos_wrapper_widget hs_cos_wrapper_type_module" style=3D"color: inherit; =
font-size: inherit; line-height: inherit;" data-hs-cos-general-type=3D"widg=
et" data-hs-cos-type=3D"module"><table class=3D"hse-image-wrapper" role=3D"=
presentation" width=3D"100%" cellpadding=3D"0" cellspacing=3D"0">
  <tbody>
    <tr>
      <td class=3D"hs_padded" align=3D"center" valign=3D"top" style=3D"font=
-family:'Times New Roman', Times, serif; color:#000000; word-break:break-wo=
rd; text-align:center; padding:10px 20px; font-size:0px">
        <a href=3D"https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04=
/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsDs3qn9qW6N1vHY6lZ3plW1XTGNd1Jhy=
d2W6_Nqff5blV4CW1xL-7N3tPbb8W82mbc41t-0bTW3dvfDj5Nz1y1W4c8rv74H7bYDW2vRJs-7=
PP5DJW90vqlV2fc2X_VL-5Nv276MrMW8TfvZr5VLJg_V7vNWT7t48HZW6tbf-z1vTb9LW7-ymxh=
1-DFfFW9lg2Ky26-gpfW6ThQWH40dSbXW36SXVg35Ty-WW8mkjtB7SyW48W30J_lJ3F3rGwW1lK=
BpQ8kn_pdW2Pv83t90HjGYW3x180Z5DXyRLW33wQj03R46FRf9j6gk204" target=3D"_blank=
" style=3D"color:#00a4bd" data-hs-link-id=3D"0" data-hs-link-id-v2=3D"l+cg9=
goY">
        <img alt=3D"heatmapAM_logo_fullcolor_whitebg" src=3D"https://hs-239=
17781.f.hubspotemail.net/hub/23917781/hubfs/Logos/heatmapAM_logo_fullcolor_=
whitebg.png?width=3D1000&amp;upscale=3Dtrue&amp;name=3DheatmapAM_logo_fullc=
olor_whitebg.png" style=3D"outline:none; text-decoration:none; border:none;=
 max-width:100%; font-size:16px" width=3D"500" align=3D"middle" class=3D"st=
retch-on-mobile">
        </a>
      </td>
    </tr>
  </tbody>
</table></div>
</div>
<!--[if gte mso 9]></table><![endif]-->
<!--[if (mso)|(IE)]></td><![endif]-->
    <!--[if (mso)|(IE)]></tr></table><![endif]-->
    </div>
  =20
  </div>
  <div id=3D"section-1" class=3D"hse-section" style=3D"padding-left:10px; p=
adding-right:10px">
   =20
   =20
      <div class=3D"hse-column-container" style=3D"min-width:280px; max-wid=
th:600px; margin:0 auto; background-color:#ffffff; padding-bottom:20px; pad=
ding-top:10px" bgcolor=3D"#ffffff">
   =20
    <!--[if (mso)|(IE)]>
      <table align=3D"center" style=3D"width:600px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation" width=3D"600" bgcolor=3D"#ffffff">
      <tr style=3D"background-color:#ffffff;">
    <![endif]-->
    <!--[if (mso)|(IE)]>
  <td valign=3D"top" style=3D"width:600px;padding-bottom:20px; padding-top:=
10px;">
<![endif]-->
<!--[if gte mso 9]>
  <table role=3D"presentation" width=3D"600" cellpadding=3D"0" cellspacing=
=3D"0" style=3D"width:600px">
<![endif]-->
<div id=3D"column-1-0" class=3D"hse-column hse-size-12">
    <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=
=3D"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D=
"font-family:'Times New Roman', Times, serif; font-size:22px; color:#000000=
; word-break:break-word; padding:10px 20px"><div id=3D"hs_cos_wrapper_modul=
e-1-0-0" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_=
module" style=3D"color: inherit; font-size: inherit; line-height: inherit;"=
 data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><div id=3D=
"hs_cos_wrapper_module-1-0-0_" class=3D"hs_cos_wrapper hs_cos_wrapper_widge=
t hs_cos_wrapper_type_rich_text" style=3D"color: inherit; font-size: inheri=
t; line-height: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-t=
ype=3D"rich_text"><p style=3D"font-weight:normal; text-align:center; font-s=
ize:16px; line-height:125%" align=3D"center"><span style=3D"font-family: Ar=
ial, sans-serif; color: #666666;">ALEXANDER C. KAUFMAN =E2=80=A2 MAY 5,&nbs=
p;2026</span></p></div></div></td></tr></tbody></table>
</div>
<!--[if gte mso 9]></table><![endif]-->
<!--[if (mso)|(IE)]></td><![endif]-->
    <!--[if (mso)|(IE)]></tr></table><![endif]-->
    </div>
  =20
  </div>
  <div id=3D"section-2" class=3D"hse-section" style=3D"padding-left:10px; p=
adding-right:10px">
   =20
   =20
      <div class=3D"hse-column-container" style=3D"min-width:280px; max-wid=
th:600px; margin:0 auto; background-color:#b3ebbb" bgcolor=3D"#b3ebbb">
   =20
    <!--[if (mso)|(IE)]>
      <table align=3D"center" style=3D"width:600px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation" width=3D"600" bgcolor=3D"#b3ebbb">
      <tr style=3D"background-color:#b3ebbb;">
    <![endif]-->
    <!--[if (mso)|(IE)]>
  <td valign=3D"top" style=3D"width:600px;">
<![endif]-->
<!--[if gte mso 9]>
  <table role=3D"presentation" width=3D"600" cellpadding=3D"0" cellspacing=
=3D"0" style=3D"width:600px">
<![endif]-->
<div id=3D"column-2-0" class=3D"hse-column hse-size-12">
    <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=
=3D"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D=
"font-family:'Times New Roman', Times, serif; font-size:22px; color:#000000=
; word-break:break-word; padding:30px"><div id=3D"hs_cos_wrapper_module-2-0=
-0" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_modul=
e" style=3D"color: inherit; font-size: inherit; line-height: inherit;" data=
-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><div id=3D"hs_c=
os_wrapper_module-2-0-0_" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_=
cos_wrapper_type_rich_text" style=3D"color: inherit; font-size: inherit; li=
ne-height: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=
=3D"rich_text"><p style=3D"line-height:125%"><span style=3D"font-size: 20px=
;"> <span style=3D"font-family: Arial, sans-serif;"><em><span style=3D"font=
-weight: bold;">Current conditions: </span><span style=3D"font-weight: norm=
al;">Severe thunderstorms are drenching the American South from New Orleans=
 to Virginia Beach =E2=80=A2 Mount Mayon has forced thousands to evacuate w=
ithin the Philippines=E2=80=99 Bicol peninsula =E2=80=A2 Temperatures in De=
nver are poised to plunge from about 75 degrees Fahrenheit yesterday to 39 =
degrees today with a chance of snow. </span></em></span></span></p></div></=
div></td></tr></tbody></table>
</div>
<!--[if gte mso 9]></table><![endif]-->
<!--[if (mso)|(IE)]></td><![endif]-->
    <!--[if (mso)|(IE)]></tr></table><![endif]-->
    </div>
  =20
  </div>
  <div id=3D"section-3" class=3D"hse-section" style=3D"padding-left:10px; p=
adding-right:10px">
   =20
   =20
      <div class=3D"hse-column-container" style=3D"min-width:280px; max-wid=
th:600px; margin:0 auto; background-color:#ffffff; padding-bottom:10px; pad=
ding-top:10px" bgcolor=3D"#ffffff">
   =20
    <!--[if (mso)|(IE)]>
      <table align=3D"center" style=3D"width:600px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation" width=3D"600" bgcolor=3D"#ffffff">
      <tr style=3D"background-color:#ffffff;">
    <![endif]-->
    <!--[if (mso)|(IE)]>
  <td valign=3D"top" style=3D"width:600px;padding-bottom:10px; padding-top:=
10px;">
<![endif]-->
<!--[if gte mso 9]>
  <table role=3D"presentation" width=3D"600" cellpadding=3D"0" cellspacing=
=3D"0" style=3D"width:600px">
<![endif]-->
<div id=3D"column-3-0" class=3D"hse-column hse-size-12">
    <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=
=3D"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D=
"font-family:'Times New Roman', Times, serif; font-size:22px; color:#000000=
; word-break:break-word; padding:10px 20px"><div id=3D"hs_cos_wrapper_modul=
e-3-0-0" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_=
module" style=3D"color: inherit; font-size: inherit; line-height: inherit;"=
 data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><table rol=
e=3D"none" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" style=3D"vertic=
al-align:top" width=3D"100%">
  <tbody><tr>
    <td align=3D"center" style=3D"font-family:'Times New Roman', Times, ser=
if; color:#000000; font-size:0; word-break:break-word">
      <p style=3D"font-size:1px;border-top:4px solid #1c86f5;width:100%;mar=
gin:0 auto;"></p>
      <!--[if mso]>
        <table role=3D"none" align=3D"center" border=3D"0" cellpadding=3D"0=
" cellspacing=3D"0" style=3D"font-size:1px;border-top:4px solid #1c86f5;wid=
th:560px;">
          <tr>
            <td style=3D"height:0;line-height:0">&nbsp;</td>
          </tr>
        </table>
      <![endif]-->
    </td>
  </tr>
</tbody></table></div></td></tr></tbody></table>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:20px 20px 10px"><div id=3D"hs_cos_wrapper_mod=
ule-3-0-9" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_typ=
e_module" style=3D"color: inherit; font-size: inherit; line-height: inherit=
;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><div id=
=3D"hs_cos_wrapper_module-3-0-9_" class=3D"hs_cos_wrapper hs_cos_wrapper_wi=
dget hs_cos_wrapper_type_rich_text" style=3D"color: inherit; font-size: inh=
erit; line-height: inherit;" data-hs-cos-general-type=3D"widget" data-hs-co=
s-type=3D"rich_text"><h1 style=3D"margin:0; font-family:Arial, sans-serif; =
font-size:22px; line-height:150%">THE TOP FIVE</h1></div></div></td></tr></=
tbody></table>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:20px 20px 10px"><div id=3D"hs_cos_wrapper_mod=
ule_17412689178444" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wr=
apper_type_module" style=3D"color: inherit; font-size: inherit; line-height=
: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"=
><div id=3D"hs_cos_wrapper_module_17412689178444_" class=3D"hs_cos_wrapper =
hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" style=3D"color: inheri=
t; font-size: inherit; line-height: inherit;" data-hs-cos-general-type=3D"w=
idget" data-hs-cos-type=3D"rich_text"><p style=3D"line-height:150%; font-we=
ight:bold">1. <strong>The U.S. grid reliability watchdog just issued a rare=
, very serious warning</strong></p></div></div></td></tr></tbody></table>
<div id=3D"hs_cos_wrapper_module_17779383681811" class=3D"hs_cos_wrapper hs=
_cos_wrapper_widget hs_cos_wrapper_type_module" style=3D"color: inherit; fo=
nt-size: inherit; line-height: inherit;" data-hs-cos-general-type=3D"widget=
" data-hs-cos-type=3D"module"><table class=3D"hse-image-wrapper" role=3D"pr=
esentation" width=3D"100%" cellpadding=3D"0" cellspacing=3D"0">
  <tbody>
    <tr>
      <td class=3D"hs_padded" align=3D"center" valign=3D"top" style=3D"font=
-family:'Times New Roman', Times, serif; color:#000000; word-break:break-wo=
rd; text-align:center; padding:10px 20px; font-size:0px">
        <img alt=3D"GettyImages-2268228957" src=3D"https://hs-23917781.f.hu=
bspotemail.net/hub/23917781/hubfs/GettyImages-2268228957.jpg?width=3D1120&a=
mp;upscale=3Dtrue&amp;name=3DGettyImages-2268228957.jpg" style=3D"outline:n=
one; text-decoration:none; max-width:100%; font-size:16px" width=3D"560" al=
ign=3D"middle">
      </td>
    </tr>
  </tbody>
</table></div>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
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7751648071945" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper=
_type_module" style=3D"color: inherit; font-size: inherit; line-height: inh=
erit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><div=
 id=3D"hs_cos_wrapper_module_17751648071945_" class=3D"hs_cos_wrapper hs_co=
s_wrapper_widget hs_cos_wrapper_type_rich_text" style=3D"color: inherit; fo=
nt-size: inherit; line-height: inherit;" data-hs-cos-general-type=3D"widget=
" data-hs-cos-type=3D"rich_text"><p style=3D"text-align:right; font-size:12=
px; line-height:150%" align=3D"right">Looking dimmer. Photo: Justin Sulliva=
n/Getty Images</p></div></div></td></tr></tbody></table>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:10px 20px 20px"><div id=3D"hs_cos_wrapper_mod=
ule_17412689339535" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wr=
apper_type_module" style=3D"color: inherit; font-size: inherit; line-height=
: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"=
><div id=3D"hs_cos_wrapper_module_17412689339535_" class=3D"hs_cos_wrapper =
hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" style=3D"color: inheri=
t; font-size: inherit; line-height: inherit;" data-hs-cos-general-type=3D"w=
idget" data-hs-cos-type=3D"rich_text"><div data-qa=3D"message-text" style=
=3D"line-height:150%">
<p style=3D"line-height:150%">The North American Electric Reliability Corpo=
ration, the quasi-governmental watchdog that monitors the health of the pow=
er grids that span the United States and Canada, has issued a rare Level 3 =
warning. The alert, <a href=3D"https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+=
113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsCT5nXHCW5BWr2F6lZ3n=
HW4hkDzs7rX2_2W8F_M-s5CWt_bW6drLj-5PGNKsW8tbJbj39P1Q-W5CLD3V6RdWHfW2-9fjN2C=
dPK6W888w6C6SPKVgW3gJ_-f2y_VP6N7f0GVkGVTv2W7V6MvM5Fn-FFW8kdpXK2Xc8_xW7vB2bM=
2c7z2fMJZ_-N1txvTW3WN4Pr4_6t6_W94Kkvq5LB3hbW1y17_x59KHRFW3vbgbG2vKdG5W2kqs0=
35xCwGCW9dDg0W1p8Q-KW1J2JTn63CDpNVxwQc28wJxM5W7YKJ5d8_J-DFW2Pvvtw2q3Gc8W2ZX=
2C43Vm-bRW5gVGgN3nhphwW5WLG2W4GPjxfW8ccMmK3HtSRCW8B-b9h7L0fNzW68qlJ56k--P6W=
1Yd2z62zcbhXN8Cg5sxF3cQpW7HY1p_8nTh-wW6sld5H2KzGv-W5v-gvf2JtfxYf8jycD604" s=
tyle=3D"color:#000000" data-hs-link-id=3D"0" data-hs-link-id-v2=3D"9fu1gfWY=
" target=3D"_blank">announced</a> Monday, marks only the third time NERC ha=
s put out a notice with that degree of severity in its 58-year history. The=
 warning comes on the heels of reports that data centers abruptly went offl=
ine in Virginia and Texas, prompting concerns of potential blackouts. =E2=
=80=9CComputational loads, such as data centers, could increase exponential=
ly in the next four years,=E2=80=9D NERC said <a  href=3D"https://d2QWfV04.=
na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH=
-yjN8JCsD85nXHCW69t95C6lZ3lCW4j0kRc3D2ggNW7cMhrq4xr8H4N1vHB9WmKTYvW5dXzrv1T=
xrHCV7GsMk8TPNz1W6HT-9R5k3tGCVS_cvs5nHNDNW18VbCc383VWgN1QbstW9vXDYW5LV0p24L=
WHv2W6YFCWC34nbg5W5R2Dd67-ZvZmW2cvK1F4lsRQ0VK_gzP3sGRh7W5ZClTR5270-CW8vR32Z=
7r37KjW3t-qSP8HrVVqV3_dnb2T7t74W655THC3x6gHTMqXxnmZQzsvVg6XgF4kc0vqW1ZqrZt4=
qBZxzW5_3Xp86GM68hW3ZdrnX6qw9v7N2d_JV427NpzW1LcFYK5jtzJ9W2V0Bf84pxPbnN49DCR=
rY6X1SVgJzsw4LcpWDV51-vx4N1M5QW5nfy_G1FPfS4W8hq61-6p4s1DW7V58CF2t8rpjW127wZ=
52nhRH5W8SQzMm6wgfxxW5HT5Zf5Hh7ZDf9gvsCW04" style=3D"color:#000000" data-hs=
-link-id=3D"0" data-hs-link-id-v2=3D"mnpY1YZq" target=3D"_blank">in a draft=
</a> of the alert, adding that =E2=80=9Csignificant risks=E2=80=9D to the p=
ower network =E2=80=9Cneed to be addressed through immediate industry actio=
n.=E2=80=9D Lee Shaver, a senior energy analyst at the Union of Concerned S=
cientists, told <a href=3D"https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/=
d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsCz5nXHCW50kH_H6lZ3mYW8n=
Nmfg8mnc9PW4_MPLQ1XhXfqN6hB5YDkwm3cW5fg5Cc5CGRJPW2thpSR1y4ZSwW5WVvb14587qpW=
7JXM2K4sqbqhW8DG4Qg5TWB47W88zMry3thcLBW2LmJqK7NBnssW4l3ZVC6pZN_dW6Tdlhh8Gr3=
7mW8mjvcp5R5lhjW76B6n75jlX0LW8XNBHx6p_kMvN1q9HKttgMjtW2r1HXD3T1JM1W2Tm0qc6G=
DGnpW3qQSHW5kvmpMVqND5t94hz7XW29GC0H43hWB4N7dV8Pc_XX3bN4Tvzqp5y-jdW8WS-t06p=
4MTNW4jDgv36J6MlcW1swD9l8j2TkSW599hF-3QHR6bW62M5pG74WvpcVmS_Tm5zJ6f_W3pN_DP=
2Q-NdnVtlY6q5_4FZqW3L-pj_1lmY2Nf2cyjvx04" style=3D"color:#000000" data-hs-l=
ink-id=3D"0" data-hs-link-id-v2=3D"VIDSzLci" target=3D"_blank"><em>E&amp;E =
News</em></a> that NERC=E2=80=99s action was a =E2=80=9Cbig deal.=E2=80=9D&=
nbsp;</p>
</div></div></div></td></tr></tbody></table>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:10px 20px"><div id=3D"hs_cos_wrapper_module_1=
7778952372142" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper=
_type_module" style=3D"color: inherit; font-size: inherit; line-height: inh=
erit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><tab=
le role=3D"none" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" style=3D"=
vertical-align:top" width=3D"100%">
  <tbody><tr>
    <td align=3D"center" style=3D"font-family:'Times New Roman', Times, ser=
if; color:#000000; font-size:0; word-break:break-word">
      <p style=3D"font-size:1px;border-top:6px solid #e6e6e6;width:100%;mar=
gin:0 auto;"></p>
      <!--[if mso]>
        <table role=3D"none" align=3D"center" border=3D"0" cellpadding=3D"0=
" cellspacing=3D"0" style=3D"font-size:1px;border-top:6px solid #e6e6e6;wid=
th:560px;">
          <tr>
            <td style=3D"height:0;line-height:0">&nbsp;</td>
          </tr>
        </table>
      <![endif]-->
    </td>
  </tr>
</tbody></table></div></td></tr></tbody></table>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:20px 20px 10px"><div id=3D"hs_cos_wrapper_mod=
ule_17168975037365" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wr=
apper_type_module" style=3D"color: inherit; font-size: inherit; line-height=
: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"=
><div id=3D"hs_cos_wrapper_module_17168975037365_" class=3D"hs_cos_wrapper =
hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" style=3D"color: inheri=
t; font-size: inherit; line-height: inherit;" data-hs-cos-general-type=3D"w=
idget" data-hs-cos-type=3D"rich_text"><p style=3D"line-height:150%; font-we=
ight:bold"><span style=3D"font-weight: bold;">2.&nbsp;</span><strong>Califo=
rnia probes offshore wind developer that took Trump=E2=80=99s exit deal</st=
rong></p></div></div></td></tr></tbody></table>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:20px"><div id=3D"hs_cos_wrapper_module-3-0-7"=
 class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" =
style=3D"color: inherit; font-size: inherit; line-height: inherit;" data-hs=
-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><div id=3D"hs_cos_=
wrapper_module-3-0-7_" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos=
_wrapper_type_rich_text" style=3D"color: inherit; font-size: inherit; line-=
height: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"r=
ich_text"><div aria-setsize=3D"-1" style=3D"line-height:150%">
<div data-hsprotectaria-roledescription=3D"message" style=3D"line-height:15=
0%">
<div aria-labelledby=3D"primary-D0960F0VALC-1776856752.873179-sender primar=
y-D0960F0VALC-1776856752.873179-message_text primary-D0960F0VALC-1776856752=
.873179-alt_text primary-D0960F0VALC-1776856752.873179-date_time primary-D0=
960F0VALC-1776856752.873179-reaction_count primary-D0960F0VALC-1776856752.8=
73179-reply_count primary-D0960F0VALC-1776856752.873179-link_count primary-=
D0960F0VALC-1776856752.873179-attachment_count primary-D0960F0VALC-17768567=
52.873179-has_draft_reply primary-D0960F0VALC-1776856752.873179-pinned_stat=
e primary-D0960F0VALC-1776856752.873179-edited_state primary-D0960F0VALC-17=
76856752.873179-later_state primary-D0960F0VALC-1776856752.873179-broadcast=
_state primary-D0960F0VALC-1776856752.873179-broadcast_thread_root_message =
primary-D0960F0VALC-1776856752.873179-translated_state" aria-setsize=3D"-1"=
 style=3D"line-height:150%">
<div data-hsprotectaria-roledescription=3D"message" style=3D"line-height:15=
0%">
<p style=3D"line-height:150%">The California Energy Commission has issued a=
n <a href=3D"https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VW33h=
s5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsDM3qn9qW7lCdLW6lZ3lwW30vhyb8XZKC3W7Zj=
xYV1y3675W7Zb78v8LqS6BW49FffB2c_k31W1nqY9B1BcvHCW6WBp585MrfYKV_Rchn92HVVpW5=
wK4dv8wlbx8N5Kkqj17GFmwW1RlHhD6CYq7rW30GGqZ6YC3vnVLR4SY29TcdWW3W-_Fq3tXgYVW=
3GvBd93_Ky6NW2MkDLh6h2rfGN70gSWYP7zfpW7K0KK72NlZvBW3dZVjV3wlXSvW6DQZtY4bXvZ=
9W8XCMm683T65jW3kNd-Z1xk5zJW4ND7CF3V0mNlW6p88j811rHkLW1qVZ0G4K-0x7f77SPtb04=
" style=3D"color:#000000" data-hs-link-id=3D"0" data-hs-link-id-v2=3D"cOjvH=
UP7" target=3D"_blank">administrative investigative subpoena</a> to Golden =
State Wind seeking documents and information related to the company=E2=80=
=99s recent deal with the U.S. Department of the Interior to take a payout =
in exchange for abandoning its offshore wind lease. Last week, the develope=
r announced a deal to scrap its lease in the Morro Bay Wind Energy off the =
central California coast for $120 million as part of the Trump administrati=
on=E2=80=99s efforts to kill off an industry he failed to destroy through r=
egulatory fiat alone. The facility was supposed to be California=E2=80=99s =
first offshore wind farm, and planned to use floating turbines to account f=
or the steep continental shelf dropoff on the nation=E2=80=99s Pacific Coas=
t. Now the administration=E2=80=99s latest =E2=80=9Cshady deal=E2=80=9D&nbs=
p;is drawing scrutiny from state regulators. =E2=80=9CThe Trump Administrat=
ion is recklessly spending billions of taxpayer dollars on backroom deals t=
hat would turn back the clock on innovation,=E2=80=9D David Hochschild, the=
 chairman of the California Energy Commission, said in a <a href=3D"https:/=
/d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WH=
W4gSXWJ5NH-yjN8JCsCz5nXHCW50kH_H6lZ3nlW712RSy1ksZBsW97NvWs1RF_93W4GT8TS1jnd=
M_W8v33C_43LpGTW5LjNXm7P6cgPW2PHLNP1NGTRdN4YZM0JjJywZW8TbgD39kmcbFW3tWDqm2Q=
8wX1W5wHR8m3GQhWhV6YmXq1Xx_3NW7z6mmK9lWk-0W5tLcDY4G5F4NW59BvMX96Qb7ZW4f2vNx=
5-mYghW49CPMm6nc6w4W1xn5C91HX3yGVbY48s2nZx5DN6V_-zdyy811W5-sxL25GYKn4W5C9S6=
V3qJmSHW8wM6Nc4fLkHQV961Nk4N3ZvsW1yCXrt6WZkgLVHdPZc5Pgp7FW8CKHrm7CC-2-W6Yml=
bZ4Hjz7kW7HFPPD1Jz8skW48GLD37JzwJSN8SgD71QBnZBW4Mzt1f4RblsTW4WqSBY1GSmFHf8f=
3Qx-04" style=3D"color:#000000" data-hs-link-id=3D"0" data-hs-link-id-v2=3D=
"A6fkFDZv" target=3D"_blank">statement</a>. =E2=80=9CCalifornians deserve i=
mmediate answers about the nature of this payout. Taxpayer dollars should b=
e used to build a sustainable energy future, not to pay to make projects di=
sappear.=E2=80=9D</p>
<p style=3D"line-height:150%">&nbsp;</p>
<p style=3D"line-height:150%">Meanwhile, California=E2=80=99s grid operator=
 has switched on a new regional electricity market as part of what <a href=
=3D"https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7=
h_qyd98D4WHW4gSXWJ5NH-yjN8JCsFF3qn9qW95jsWP6lZ3kNMv5kb8zsLj7W2_RXQB1SkXpwW4=
qVnvP4zBdvbW207F1K6YplP0V9JBqK70m39pW5sRmkF6WsV9lW1BYMnp3WZw-vVP9sqs3c9lvmW=
36SZtk2dls8CW3bNQlR4VtLtFW8lH0VP3x_PzjW2ymk6N4Rs-vrW1F9Xwd7LpLHkW4S6fGL8cwm=
DHW39Xnl-4nf3JyVxBQdG2PMr86W2SQ_ty4-ydq0W4hS7Sv80RP45W96fVPX3FKttQW4f6QtV7F=
ngdNW8M_-VG68dn4sW6Dskj17_KlVSW7zq-674pwSM3W78WcWL5KMzbbW2Z-yxK8ZLd2CN1zxN9=
XnnSfNW2myf5f7qRpbfW8G903Y9gJZCPW1Q0ZYF2v6ftZV8DNTM4Yhd04f51hfSq04" style=
=3D"color:#000000" data-hs-link-id=3D"0" data-hs-link-id-v2=3D"sVjlqVGj" ta=
rget=3D"_blank"><em>E&amp;E News</em></a> called =E2=80=9Ca major milestone=
 in the yearslong push to expand energy trading=E2=80=9D across the America=
n West. The California Independent System Operator launched its new Extende=
d Day-Ahead Market early Friday morning, allowing California=E2=80=99s inve=
stor-owned utilities and the Northwestern giant PacifiCorp, whose coverage =
area spans two million customers across six states, to trade electricity on=
 the regional market for the first time. =E2=80=9CThe West is rich with a d=
iverse mix of renewable resources, and this market will capture their poten=
tial,=E2=80=9D Michael Colvin, director of the California energy program at=
 the Environmental Defense Fund, said in a<a href=3D"https://d2QWfV04.na1.h=
ubspotlinks.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8=
JCsCT5nXHCW5BWr2F6lZ3pDVXwkj18ZLGl5W3pwdqs8SvkGzW2B9fz-8rRzVLW2YrgxR6fjlgbN=
7NymW6RVTNTW2CXPXl4sWltZW3fYVkQ4GBKPkW3wXF8V5Qxby8W714yM22_tQCSN2hp6Z-KfgpS=
W8BJMM96094SyW4jghGf8xtzxSVd21MS4Lr_xXN4Qb3WWKf4tHW3dSPGy8bbnyMN3nF9RYYbF6F=
W2hQ_q67F0bcTW1mtWXv5lgTNMW4w2T5h2X3z3RW4XmwCd3jrNF9W5RDbv-41J7HBW5hV7FC4_F=
DbNW5sv-CD7lvYnfW3cVZ7d99-1DxW83ZNR85_cP8YW8Qrx84347hDTN8Z7ZmwM5gGBW1XQGKY6=
psWblW6BzTYv3gycJ1W5JDP3c8GrXchW8JV42-2KSp7rW14PRN-2BF_HHW1HVvHZ6sbR0bV2Xdm=
z8-fB5Yf9hlBfK04" style=3D"color:#000000" data-hs-link-id=3D"0" data-hs-lin=
k-id-v2=3D"IpOFFbcq" target=3D"_blank"><span style=3D"color: #1155cc; text-=
decoration: underline;"> statement</span></a>. =E2=80=9CThrough better shar=
ing of cheap, clean energy beyond state borders, the market will cut househ=
old bills, reduce reliance on expensive, polluting fossil plants and build =
a grid that's bigger than any single extreme weather event.=E2=80=9D</p>
</div>
</div>
</div>
</div></div></div></td></tr></tbody></table>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:10px 20px"><div id=3D"hs_cos_wrapper_module_1=
7658043840841" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper=
_type_module" style=3D"color: inherit; font-size: inherit; line-height: inh=
erit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><tab=
le role=3D"none" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" style=3D"=
vertical-align:top" width=3D"100%">
  <tbody><tr>
    <td align=3D"center" style=3D"font-family:'Times New Roman', Times, ser=
if; color:#000000; font-size:0; word-break:break-word">
      <p style=3D"font-size:1px;border-top:6px solid #e6e6e6;width:100%;mar=
gin:0 auto;"></p>
      <!--[if mso]>
        <table role=3D"none" align=3D"center" border=3D"0" cellpadding=3D"0=
" cellspacing=3D"0" style=3D"font-size:1px;border-top:6px solid #e6e6e6;wid=
th:560px;">
          <tr>
            <td style=3D"height:0;line-height:0">&nbsp;</td>
          </tr>
        </table>
      <![endif]-->
    </td>
  </tr>
</tbody></table></div></td></tr></tbody></table>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:20px 20px 10px"><div id=3D"hs_cos_wrapper_mod=
ule_17778951407581" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wr=
apper_type_module" style=3D"color: inherit; font-size: inherit; line-height=
: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"=
><div id=3D"hs_cos_wrapper_module_17778951407581_" class=3D"hs_cos_wrapper =
hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" style=3D"color: inheri=
t; font-size: inherit; line-height: inherit;" data-hs-cos-general-type=3D"w=
idget" data-hs-cos-type=3D"rich_text"><p style=3D"line-height:150%; font-we=
ight:bold">3. <strong>Exclusive: America=E2=80=99s most advanced thorium be=
t just hit a major milestone</strong></p></div></div></td></tr></tbody></ta=
ble>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:10px 20px"><div id=3D"hs_cos_wrapper_module_1=
7713829086802" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper=
_type_module" style=3D"color: inherit; font-size: inherit; line-height: inh=
erit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><div=
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s_wrapper_widget hs_cos_wrapper_type_rich_text" style=3D"color: inherit; fo=
nt-size: inherit; line-height: inherit;" data-hs-cos-general-type=3D"widget=
" data-hs-cos-type=3D"rich_text"><div aria-setsize=3D"-1" style=3D"line-hei=
ght:150%">
<div data-hsprotectaria-roledescription=3D"message" style=3D"line-height:15=
0%">
<div aria-labelledby=3D"primary-D0960F0VALC-1776856752.873179-sender primar=
y-D0960F0VALC-1776856752.873179-message_text primary-D0960F0VALC-1776856752=
.873179-alt_text primary-D0960F0VALC-1776856752.873179-date_time primary-D0=
960F0VALC-1776856752.873179-reaction_count primary-D0960F0VALC-1776856752.8=
73179-reply_count primary-D0960F0VALC-1776856752.873179-link_count primary-=
D0960F0VALC-1776856752.873179-attachment_count primary-D0960F0VALC-17768567=
52.873179-has_draft_reply primary-D0960F0VALC-1776856752.873179-pinned_stat=
e primary-D0960F0VALC-1776856752.873179-edited_state primary-D0960F0VALC-17=
76856752.873179-later_state primary-D0960F0VALC-1776856752.873179-broadcast=
_state primary-D0960F0VALC-1776856752.873179-broadcast_thread_root_message =
primary-D0960F0VALC-1776856752.873179-translated_state" aria-setsize=3D"-1"=
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<div data-hsprotectaria-roledescription=3D"message" style=3D"line-height:15=
0%">
<div data-qa=3D"message-text" style=3D"line-height:150%">
<p style=3D"line-height:150%">For nearly as long as there have been nuclear=
 power plants, there have been thorium bulls insisting the metal is a bette=
r fuel than uranium. In most places, the thorium dream faded long ago as am=
ple new sources of uranium were discovered. But China revived the thorium r=
ace in 2023, when its experimental molten salt reactor powered by the metal=
 split atoms for the first time. Now the only serious contender in the enti=
re West looking to commercialize thorium is a Chicago-based company taking =
an unusual approach. Rather than creating a whole new kind of reactor to ru=
n on thorium, Clean Core Thorium Energy has designed fuel assemblies that b=
lend thorium with a special kind of uranium fuel and work in existing react=
ors without any modifications. Clean Core=E2=80=99s technology only works, =
at least for now, in pressurized heavy water reactors, which make up the bu=
lk of the fleets in Canada and India, though the U.S. has none in operation=
. But the key verb there is that: It works. On Tuesday, I can exclusively r=
eport for this newsletter, Clean Core plans to announce that its patented f=
uel completed a high burnup irradiation test at Idaho National Laboratory=
=E2=80=99s Advanced Test Reactor. The fuel burnup represented =E2=80=9Cmore=
 than eight times the typical=E2=80=9D output from the traditional uranium =
fuel used in pressurized heavy water reactors. The latest test =E2=80=9Cpro=
vides meaningful performance data=E2=80=9D and demonstrates that Clean Core=
=E2=80=99s fuel =E2=80=9Cachieve burnup levels comparable to those seen in =
PWR fuels while offering improved fuel utilization, enhanced safety charact=
eristics, inherent proliferation resistance, and meaningful reductions in l=
ong-lived nuclear spent fuel radioisotopes,=E2=80=9D Mehul Shah, Clean Core=
=E2=80=99s chief executive, told me in a statement. =E2=80=9COur objective =
has been to introduce thorium into the nuclear fuel cycle in a practical wa=
y using existing reactors, and this milestone represents a significant step=
 toward that goal.=E2=80=9D</p>
<p style=3D"line-height:150%">&nbsp;</p>
<p style=3D"line-height:150%">It=E2=80=99s the latest good news for Clean C=
ore. Last month, <a href=3D"https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113=
/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsF23qn9qW7Y8-PT6lZ3kMW4=
PvNdk1szYqlW4TyMYZ7tx2YdW6NxgNk209_K-W3ptKBq3LYvGNN5t-tH8CL_-1W5cm-Vw6Np0wG=
W5ZR0-b82LtZmW1jk9ZN8kSCJ7W7Ck-Hq3Qsc3wW57VG_J1wrfmsW8gC5Vb4kVPSHN2jM7BbCXv=
fLW4nH91v4k8Qk1W4LL7sM6P_FhCW7t46D_1N24TSW4zfQPK43l5rfMVNcjxRGn0BW66t8kk8zb=
3JyW39_c6R7QTG5nW4XtMZr38ZpftVKDzxS8vk2hqW6Z_3VW5_FLHPW34FMJ_41xD1TVMxYgN8B=
z1nCW93nx5x51GlFBW1ZG0Zn6Z9FBsf3McVVl04" style=3D"color:#000000" data-hs-li=
nk-id=3D"0" data-hs-link-id-v2=3D"zlDi9TA/" target=3D"_blank">as I reported=
 for Heatmap</a>, the company inked a deal with the Canadian National Labor=
atories to manufacture its first commercial fuel assemblies.&nbsp;</p>
</div>
</div>
</div>
</div>
</div></div></div></td></tr></tbody></table>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:10px 20px"><div id=3D"hs_cos_wrapper_module_1=
7755629544911" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper=
_type_module" style=3D"color: inherit; font-size: inherit; line-height: inh=
erit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><tab=
le role=3D"none" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" style=3D"=
vertical-align:top" width=3D"100%">
  <tbody><tr>
    <td align=3D"center" style=3D"font-family:'Times New Roman', Times, ser=
if; color:#000000; font-size:0; word-break:break-word">
      <p style=3D"font-size:1px;border-top:6px solid #e6e6e6;width:100%;mar=
gin:0 auto;"></p>
      <!--[if mso]>
        <table role=3D"none" align=3D"center" border=3D"0" cellpadding=3D"0=
" cellspacing=3D"0" style=3D"font-size:1px;border-top:6px solid #e6e6e6;wid=
th:560px;">
          <tr>
            <td style=3D"height:0;line-height:0">&nbsp;</td>
          </tr>
        </table>
      <![endif]-->
    </td>
  </tr>
</tbody></table></div></td></tr></tbody></table>
</div>
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<!--[if (mso)|(IE)]></td><![endif]-->
    <!--[if (mso)|(IE)]></tr></table><![endif]-->
    </div>
  =20
  </div>
  <div id=3D"section_1775477629132" class=3D"hse-section" style=3D"padding-=
left:10px; padding-right:10px">
   =20
   =20
      <div class=3D"hse-column-container" style=3D"min-width:280px; max-wid=
th:600px; margin:0 auto; background-color:#ffffff" bgcolor=3D"#ffffff">
   =20
    <!--[if (mso)|(IE)]>
      <table align=3D"center" style=3D"width:600px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation" width=3D"600" bgcolor=3D"#ffffff">
      <tr style=3D"background-color:#ffffff;">
    <![endif]-->
    <!--[if (mso)|(IE)]>
  <td valign=3D"top" style=3D"width:600px;">
<![endif]-->
<!--[if gte mso 9]>
  <table role=3D"presentation" width=3D"600" cellpadding=3D"0" cellspacing=
=3D"0" style=3D"width:600px">
<![endif]-->
<div id=3D"column_1775477629132_0" class=3D"hse-column hse-size-12">
    <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=
=3D"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D=
"font-family:'Times New Roman', Times, serif; font-size:22px; color:#000000=
; word-break:break-word; padding:20px 20px 10px"><div id=3D"hs_cos_wrapper_=
module_17168972411022" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos=
_wrapper_type_module" style=3D"color: inherit; font-size: inherit; line-hei=
ght: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"modu=
le"><div id=3D"hs_cos_wrapper_module_17168972411022_" class=3D"hs_cos_wrapp=
er hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" style=3D"color: inh=
erit; font-size: inherit; line-height: inherit;" data-hs-cos-general-type=
=3D"widget" data-hs-cos-type=3D"rich_text"><p style=3D"line-height:150%; fo=
nt-weight:bold">4.<strong> New joint venture forms to complete South Caroli=
na=E2=80=99s aborted nuclear megaproject</strong></p></div></div></td></tr>=
</tbody></table>
</div>
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    <!--[if (mso)|(IE)]></tr></table><![endif]-->
    </div>
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-left:10px; padding-right:10px">
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      <div class=3D"hse-column-container" style=3D"min-width:280px; max-wid=
th:600px; margin:0 auto; background-color:#ffffff; padding-bottom:10px" bgc=
olor=3D"#ffffff">
   =20
    <!--[if (mso)|(IE)]>
      <table align=3D"center" style=3D"width:600px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation" width=3D"600" bgcolor=3D"#ffffff">
      <tr style=3D"background-color:#ffffff;">
    <![endif]-->
    <!--[if (mso)|(IE)]>
  <td valign=3D"top" style=3D"width:600px;padding-bottom:10px;">
<![endif]-->
<!--[if gte mso 9]>
  <table role=3D"presentation" width=3D"600" cellpadding=3D"0" cellspacing=
=3D"0" style=3D"width:600px">
<![endif]-->
<div id=3D"column-1774269060708-0" class=3D"hse-column hse-size-12">
    <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=
=3D"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D=
"font-family:'Times New Roman', Times, serif; font-size:22px; color:#000000=
; word-break:break-word; padding:10px 20px 20px"><div id=3D"hs_cos_wrapper_=
module_17302028083781" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos=
_wrapper_type_module" style=3D"color: inherit; font-size: inherit; line-hei=
ght: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"modu=
le"><div id=3D"hs_cos_wrapper_module_17302028083781_" class=3D"hs_cos_wrapp=
er hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" style=3D"color: inh=
erit; font-size: inherit; line-height: inherit;" data-hs-cos-general-type=
=3D"widget" data-hs-cos-type=3D"rich_text"><div aria-setsize=3D"-1" style=
=3D"line-height:150%">
<div data-hsprotectaria-roledescription=3D"message" style=3D"line-height:15=
0%">
<div aria-labelledby=3D"primary-D0960F0VALC-1776856752.873179-sender primar=
y-D0960F0VALC-1776856752.873179-message_text primary-D0960F0VALC-1776856752=
.873179-alt_text primary-D0960F0VALC-1776856752.873179-date_time primary-D0=
960F0VALC-1776856752.873179-reaction_count primary-D0960F0VALC-1776856752.8=
73179-reply_count primary-D0960F0VALC-1776856752.873179-link_count primary-=
D0960F0VALC-1776856752.873179-attachment_count primary-D0960F0VALC-17768567=
52.873179-has_draft_reply primary-D0960F0VALC-1776856752.873179-pinned_stat=
e primary-D0960F0VALC-1776856752.873179-edited_state primary-D0960F0VALC-17=
76856752.873179-later_state primary-D0960F0VALC-1776856752.873179-broadcast=
_state primary-D0960F0VALC-1776856752.873179-broadcast_thread_root_message =
primary-D0960F0VALC-1776856752.873179-translated_state" aria-setsize=3D"-1"=
 style=3D"line-height:150%">
<div data-hsprotectaria-roledescription=3D"message" style=3D"line-height:15=
0%">
<p style=3D"line-height:150%">In July 2017, South Carolina abandoned its $9=
 billion expansion of the V.C. Summer Nuclear Station, leaving ratepayers h=
olding the bag and utility executives facing prison time for lying about th=
e project=E2=80=99s viability. Now the pair of Westinghouse AP1000s planned=
 at the site are making a comeback. On Monday, Westinghouse-owner Brookfiel=
d Asset Management formed a new joint venture with The Nuclear Company, a r=
eactor construction manager, to work together on building more Westinghouse=
 reactors such as the AP1000 or the smaller version, the AP300. V.C. Summer=
 is the likely first project. =E2=80=9COur team was built on the field of V=
ogtle and on some of the most complex energy projects in the world,=E2=80=
=9D Joe Klecha, The Nuclear Company=E2=80=99s chief nuclear officer, said i=
n a <a href=3D"https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VW3=
3hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsCz5nXHCW50kH_H6lZ3p4N200wcTzgk7nW4y=
KXkV6M5ysbV39yPt51-dkrVXlP8G8jd3NFW7H0Nrx9fcqT3W7Cw8VM2jLjv4VlGgSh8knPcmW4F=
b1m_2R7kwcW5z8Bcy53FG95W6y3CPY3HvnMVW9hRqtJ7V2MxHVKHqXN3vycvNW7GrSts7kmhZvN=
8mymdCTsN31W1rjrqx2j-wK2W9bj90q1SKNrpW27VBp86VZCtpW7T0lFf6bcBxJW2G_wzM5jSMc=
zW1t-Jwc5-klJ-W5xGr4J1D55TLW2dN85g62hQLtW55KJ_86t2PF1W33q7kF8Qh98dVDVTKQ2Jw=
xxPW68LTbc3BWv3ZW4vGx0z1lYnDSN8-dY5jtfB57W2NygRq4stQrhW43srVw1_l2hSW544cbs3=
vF9BwN7zYnYVLxBy-f6r0Fgn04" style=3D"color:#000000" data-hs-link-id=3D"0" d=
ata-hs-link-id-v2=3D"eQOoJ7mm" target=3D"_blank">statement</a>. =E2=80=9CWe=
 know what it takes to deliver nuclear. What=E2=80=99s been missing is a mo=
del that brings together the people, the capabilities, and the capital to d=
o it at speed and scale. That=E2=80=99s what this partnership creates.=E2=
=80=9D The announcement comes as the Trump administration meets with utilit=
y executives to discuss funding deals to build the 10 new large-scale react=
ors President Donald Trump ordered the Department of Energy to facilitate c=
onstruction on by 2029, <a href=3D"https://d2QWfV04.na1.hubspotlinks.com/Ct=
c/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsFl3qn9qW8wLKSR6=
lZ3p7W4Szggv3wN9zFW7syXjV3Q5gKjW44p2xD6lV9VlN7Xdv3Q-_2CwW8BjCSt91mP2cW6jvbx=
W32tb36W6nB6Tq2jWFRFW1d0ChD4V8BGvW7Vdc8z6ShxQyW1jq2wC6-qx5rW1p1tlj12H251W2c=
Xr7r1NYH9FV-JN_C8J3zt4W2S_mKd4yMwcZW3gbyTt9hYN90W13z1PR3V6tl6W9bbkqN6RTY5cW=
3sczGw8JhJ3qW7Nc3vW3bMndRW5Mpgbz269WRfW5TFMb18B4JqyW9h8Q0S4FpfzCN2j12vTzm4j=
NW2rznQg76N0KkN3Z3p3B2MtfLW38QyWh1x8VVHW4KbJZd5XYXhsW7Z8zQH6FQyPDf7hstcv04"=
 style=3D"color:#000000" data-hs-link-id=3D"0" data-hs-link-id-v2=3D"OLnpwJ=
fk" target=3D"_blank">as Heatmap=E2=80=99s Robinson Meyer reported</a>. Com=
pleting 10 AP1000s would give the U.S. economy a trillion-dollar boost, per=
 a PricewaterhouseCoopers report Westinghouse <a href=3D"https://d2QWfV04.n=
a1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-=
yjN8JCsF23qn9qW7Y8-PT6lZ3ndW6SRL1j9bsyvXW5P6Lb27QYf9SMCy8085NGfRW3q9-M95FSy=
rvN7Z-Ny9j-rQqW7Hn0rl4n8Z5MW3YQsQQ219P87W4xJc8N2cq-x8N8gq2HWZ3qglW6G5_Cl69K=
KHTV2b-Tl92ZmmCN4xYHgv7j4d2N9h63YdC0_ZgN62Cksgfsm_DW2nLGRq3ljb2bW2JPR_h78JC=
7bW2S3qc514KRMbW4KFWl61X_CyTW4sfN3H274t8nW8-pwht6RFrGhW2Cpgzn50LwXkVnhN-m7b=
J5ccW76wG_R8z7sJ7VjgTbl3P984cW72k-sn1-2vSnW4j-1tq8PwLjRdxpgCj04" style=3D"c=
olor:#000000" data-hs-link-id=3D"0" data-hs-link-id-v2=3D"fEYelsIn" target=
=3D"_blank">released</a> in March.&nbsp;&nbsp;</p>
<p style=3D"line-height:150%">&nbsp;</p>
<p style=3D"line-height:150%">That=E2=80=99s not the only nuclear developer=
 making deals. On Tuesday morning, Blue Energy, another startup focused on =
serving as a project developer for existing reactor designs, announced a pa=
rtnership with GE Vernova to work on building the world=E2=80=99s first gas=
-plus-nuclear plant in Texas. The 2.5-gigawatt project would include GE Ver=
nova=E2=80=99s gas turbines and its BWRX-300 small modular reactors through=
 its joint venture with Hitachi. =E2=80=9CInnovative projects like this one=
 will help advance the future of nuclear power and meet the surging demand =
for electricity,=E2=80=9D Scott Strazik, GE Vernova=E2=80=99s chief executi=
ve, said in a statement.&nbsp;</p>
</div>
</div>
</div>
</div></div></div></td></tr></tbody></table>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:10px 20px"><div id=3D"hs_cos_wrapper_module_1=
7778957532213" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper=
_type_module" style=3D"color: inherit; font-size: inherit; line-height: inh=
erit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><tab=
le role=3D"none" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" style=3D"=
vertical-align:top" width=3D"100%">
  <tbody><tr>
    <td align=3D"center" style=3D"font-family:'Times New Roman', Times, ser=
if; color:#000000; font-size:0; word-break:break-word">
      <p style=3D"font-size:1px;border-top:6px solid #e6e6e6;width:100%;mar=
gin:0 auto;"></p>
      <!--[if mso]>
        <table role=3D"none" align=3D"center" border=3D"0" cellpadding=3D"0=
" cellspacing=3D"0" style=3D"font-size:1px;border-top:6px solid #e6e6e6;wid=
th:560px;">
          <tr>
            <td style=3D"height:0;line-height:0">&nbsp;</td>
          </tr>
        </table>
      <![endif]-->
    </td>
  </tr>
</tbody></table></div></td></tr></tbody></table>
</div>
<!--[if gte mso 9]></table><![endif]-->
<!--[if (mso)|(IE)]></td><![endif]-->
    <!--[if (mso)|(IE)]></tr></table><![endif]-->
    </div>
  =20
  </div>
  <div id=3D"section_1774008655095" class=3D"hse-section" style=3D"padding-=
left:10px; padding-right:10px">
   =20
   =20
      <div class=3D"hse-column-container" style=3D"min-width:280px; max-wid=
th:600px; margin:0 auto; background-color:#ffffff" bgcolor=3D"#ffffff">
   =20
    <!--[if (mso)|(IE)]>
      <table align=3D"center" style=3D"width:600px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation" width=3D"600" bgcolor=3D"#ffffff">
      <tr style=3D"background-color:#ffffff;">
    <![endif]-->
    <!--[if (mso)|(IE)]>
  <td valign=3D"top" style=3D"width:600px;">
<![endif]-->
<!--[if gte mso 9]>
  <table role=3D"presentation" width=3D"600" cellpadding=3D"0" cellspacing=
=3D"0" style=3D"width:600px">
<![endif]-->
<div id=3D"column_1774008655095_0" class=3D"hse-column hse-size-12">
    <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=
=3D"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D=
"font-family:'Times New Roman', Times, serif; font-size:22px; color:#000000=
; word-break:break-word; padding:20px 20px 10px"><div id=3D"hs_cos_wrapper_=
module_17168973895873" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos=
_wrapper_type_module" style=3D"color: inherit; font-size: inherit; line-hei=
ght: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"modu=
le"><div id=3D"hs_cos_wrapper_module_17168973895873_" class=3D"hs_cos_wrapp=
er hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" style=3D"color: inh=
erit; font-size: inherit; line-height: inherit;" data-hs-cos-general-type=
=3D"widget" data-hs-cos-type=3D"rich_text"><p style=3D"line-height:150%; fo=
nt-weight:bold"><span style=3D"font-weight: bold;">5.</span><strong> Green =
steel investments are going to all the wrong places</strong></p></div></div=
></td></tr></tbody></table>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:10px 20px 20px"><div id=3D"hs_cos_wrapper_mod=
ule_17273490830932" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wr=
apper_type_module" style=3D"color: inherit; font-size: inherit; line-height=
: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"=
><div id=3D"hs_cos_wrapper_module_17273490830932_" class=3D"hs_cos_wrapper =
hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" style=3D"color: inheri=
t; font-size: inherit; line-height: inherit;" data-hs-cos-general-type=3D"w=
idget" data-hs-cos-type=3D"rich_text"><p style=3D"line-height:150%">Steel, =
if you=E2=80=99re unfamiliar, is made in two big steps. Traditionally, iron=
 ore is melted down in a coal-fired blast furnace, then forged into steel i=
n a basic oxygen furnace. New plants typically run on something called dire=
ct reduced iron, which uses natural gas to turn the ore into iron, then mad=
e into steel in an electric arc furnace. The latter process is far cleaner.=
 It can even be green, if the natural gas is swapped for green hydrogen and=
 the electric arc furnace is powered by renewables or nuclear reactors. Nea=
rly 40% of all global clean steel investments to date are hydrogen-powered =
DRI facilities. That=E2=80=99s according to new data from the Rhodium Group=
, which released its latest estimates Tuesday. Another 57% of investments a=
re gas-powered DRI plants. While Europe has so far dominated investment int=
o hydrogen DRI, =E2=80=9Cthe region will likely see relatively little deman=
d growth for iron over the coming decades,=E2=80=9D the report found. In th=
e fastest growing regions, such as India, Africa, and South America, =E2=80=
=9Cmost new demand is being met with traditional, fossil-based ironmaking t=
echnologies, which risks locking in emissions for decades.=E2=80=9D The con=
sultancy=E2=80=99s modeling shows that clean steel supply capacity is on tr=
ack to exceed demand by between 1.8 and 4.3 times by 2030, =E2=80=9Crisking=
 a collapse of the nascent industry, where existing projects cannot find bu=
yers and scale production to drive down costs.=E2=80=9D&nbsp;</p></div></di=
v></td></tr></tbody></table>
</div>
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adding-right:10px">
   =20
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      <div class=3D"hse-column-container" style=3D"min-width:280px; max-wid=
th:600px; margin:0 auto; background-color:#ffffff" bgcolor=3D"#ffffff">
   =20
    <!--[if (mso)|(IE)]>
      <table align=3D"center" style=3D"width:600px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation" width=3D"600" bgcolor=3D"#ffffff">
      <tr style=3D"background-color:#ffffff;">
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=3D"0" style=3D"width:600px">
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<div id=3D"column-4-0" class=3D"hse-column hse-size-12">
    <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=
=3D"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D=
"font-family:'Times New Roman', Times, serif; font-size:22px; color:#000000=
; word-break:break-word; padding:10px 20px"><div id=3D"hs_cos_wrapper_modul=
e-4-0-0" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_=
module" style=3D"color: inherit; font-size: inherit; line-height: inherit;"=
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e=3D"none" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" style=3D"vertic=
al-align:top" width=3D"100%">
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if; color:#000000; font-size:0; word-break:break-word">
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gin:0 auto;"></p>
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" cellspacing=3D"0" style=3D"font-size:1px;border-top:4px solid #1c86f5;wid=
th:560px;">
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</tbody></table></div></td></tr></tbody></table>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:20px"><div id=3D"hs_cos_wrapper_module-4-0-1"=
 class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" =
style=3D"color: inherit; font-size: inherit; line-height: inherit;" data-hs=
-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><div id=3D"hs_cos_=
wrapper_module-4-0-1_" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos=
_wrapper_type_rich_text" style=3D"color: inherit; font-size: inherit; line-=
height: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"r=
ich_text"><h1 style=3D"margin:0; font-family:Arial, sans-serif; font-size:2=
2px; line-height:150%">THE KICKER</h1></div></div></td></tr></tbody></table=
>
  <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" class=3D"" style=3D""><tbody><tr><td class=3D"hs_padded" style=3D"fo=
nt-family:'Times New Roman', Times, serif; font-size:22px; color:#000000; w=
ord-break:break-word; padding:10px 20px"><div id=3D"hs_cos_wrapper_module_1=
7678798381002" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper=
_type_module" style=3D"color: inherit; font-size: inherit; line-height: inh=
erit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><div=
 id=3D"hs_cos_wrapper_module_17678798381002_" class=3D"hs_cos_wrapper hs_co=
s_wrapper_widget hs_cos_wrapper_type_rich_text" style=3D"color: inherit; fo=
nt-size: inherit; line-height: inherit;" data-hs-cos-general-type=3D"widget=
" data-hs-cos-type=3D"rich_text"><div aria-labelledby=3D"primary-D0960F0VAL=
C-1772455746.018939-sender primary-D0960F0VALC-1772455746.018939-message_te=
xt primary-D0960F0VALC-1772455746.018939-alt_text primary-D0960F0VALC-17724=
55746.018939-date_time primary-D0960F0VALC-1772455746.018939-reaction_count=
 primary-D0960F0VALC-1772455746.018939-reply_count primary-D0960F0VALC-1772=
455746.018939-link_count primary-D0960F0VALC-1772455746.018939-attachment_c=
ount primary-D0960F0VALC-1772455746.018939-has_draft_reply primary-D0960F0V=
ALC-1772455746.018939-pinned_state primary-D0960F0VALC-1772455746.018939-ed=
ited_state primary-D0960F0VALC-1772455746.018939-later_state primary-D0960F=
0VALC-1772455746.018939-broadcast_state primary-D0960F0VALC-1772455746.0189=
39-broadcast_thread_root_message primary-D0960F0VALC-1772455746.018939-tran=
slated_state" aria-setsize=3D"-1" style=3D"line-height:150%">
<div data-hsprotectaria-roledescription=3D"message" style=3D"line-height:15=
0%">
<p style=3D"line-height:150%">It may be time for a new New Orleans.<strong>=
 The city has reached a =E2=80=9Cpoint of no return=E2=80=9D that will see =
it surrounded by ocean within decades as climate change worsen</strong>s. T=
hat=E2=80=99s the conclusion of a new paper in the journal <a href=3D"https=
://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4=
WHW4gSXWJ5NH-yjN8JCsDM3qn9qW7lCdLW6lZ3n1W4lWG4B7q_B9ZW5tYLss7snY6dW871QNX4s=
SVKgW1tZPBm5LhgBpW6tth5Q2GDrTgW3l-KcF8hHy8HW4Xs2p548C7x9W6PRrLm1TzfjdN8cxjs=
WGJgDZW2LFwdC4K3vPNW4dJLdf6H79hfW66CGmG5ByG2FVKrb4t8Sny6qW4-QQJW91SHZKW90pp=
Vv8JL-VGMjN0wYBFfJzW19J_dM7PchNRW4pd5gv896wcyW5htcLf5FTBwFW6QCk6j8j1q12W98r=
3wg4fbXtzN6zcqJVXscTRN6rNFJz9wt9_W6hW9lf78XYmdf313sss04" style=3D"color:#00=
0000" data-hs-link-id=3D"0" data-hs-link-id-v2=3D"+p71Fyge" target=3D"_blan=
k"><em>Nature Sustainability</em></a>. =E2=80=9CIn paleo-climate terms, New=
 Orleans is gone; the question is how long it has,=E2=80=9D Jesse Keenan, a=
n expert in climate adaptation at Tulane University and one of the paper=E2=
=80=99s five co-authors, told <a href=3D"https://d2QWfV04.na1.hubspotlinks.=
com/Ctc/X+113/d2QWfV04/VW33hs5rvHp3W7h_qyd98D4WHW4gSXWJ5NH-yjN8JCsD85nXHCW6=
9t95C6lZ3pGVRcqJL3MsHlgW1lT9x-7sh7yrVj2VXY2DXydkW7Bxdwn7qc67qW2X9C_c1B6tbMN=
6z3QVkNR6hrVNd87t2W-492W7ZtSBx5SfwzBN5JrNTgwDKgbW8z5fBB1RLMpLW2NGj3s6p9jJ6W=
3L9n5M7VB8B_W5f8N2f6KQZzLW6k4HS55QScFlW4MS3M_4c_BW9W59943s7m9NGfW8B4LNZ41pT=
5bW23zgl564Py9SW2vhjy_4jBf09W5YcKNL38zBxfW1n9t7w7JnxZgW54mqn179kwKLW8sYFNK4=
1vmN1W8shLT37MpbYPW1jltzH8mNhbYW8pKyHm19jmDBN8w9rt3fy5dXW69SMX98MpHfrW8zlRf=
J4LLG8jVH1HZz78grdbW3jrMpM8cR3NVW64QJbv3RbZ8LW40bC9n2NYGprW5hSg_d91db2tW4rn=
PVq8kv8JGW39VSMG6hz_4Wf1bQPpF04" style=3D"color:#000000" data-hs-link-id=3D=
"0" data-hs-link-id-v2=3D"qL2wIr4G" target=3D"_blank"><em>The Guardian</em>=
</a>.</p>
</div>
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inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"module"><=
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" data-hs-cos-type=3D"rich_text"><h1 style=3D"margin:0; font-family:Arial, =
sans-serif; font-size:22px; line-height:150%">Opportunities</h1>
<p style=3D"line-height:150%"><span style=3D"font-family: Arial, sans-serif=
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