Carbon News | Prices Rise! Lithium Carbonate Output Falls Short of 100,000 Tons

Xingshuaier did not directly explain the rationale for its acquisition in its announcement; however, this move comes against the backdrop of continuously narrowing profitability in its core business. Currently, Xingshuaier’s development framework rests on two pillars: home appliances and photovoltaics. Its 2026 semi-annual report shows that revenue for the first half of the year totaled RMB 1.094 billion, down 3.39% year-on-year; net profit attributable to shareholders amounted to approximately RMB 100 million, down 17.60% year-on-year. The disproportionate decline in profit—far exceeding the revenue drop—stems from the company’s photovoltaic business. In the first half of this year, photovoltaic module revenue reached RMB 562 million, accounting for 51.36% of total revenue and remaining the largest revenue contributor; however, gross margin stood at only 4.02%, down 2.3 percentage points from 6.32% for the full year of 2025. Specifically, Fuluo New Energy—the subsidiary responsible for manufacturing and selling photovoltaic modules—generated approximately RMB 546 million in revenue during the first half of the year, but posted a net loss of RMB 3.9777 million. (Source: Cailian News) 06 Global Diesel Shortage May Persist Until 2027 Recently, Ukraine launched an "unprecedented" attack, further intensifying the global diesel supply shortage crisis. According to reports, on September 20, Ukraine carried out a large-scale drone strike against Russia, hitting a refinery in Moscow. Within a single day, Russia shot down over 1,600 Ukrainian drones. The refinery, located about 26 kilometers from the Kremlin, has a crude oil processing capacity of approximately 245,000 barrels per day and primarily supplies fuel to Moscow and its surrounding metropolitan area. Industry insiders and storage market indicators suggest that the global diesel shortage triggered by conflicts involving Iran and Ukraine is unlikely to ease before next year. Data from tank storage broker The Tank Tiger show that refiners and traders across North America are declining to renew diesel storage lease agreements, as available diesel inventory for storage is extremely limited. (Source: Cailian News) 07 U.S. Allocates $99 Million for Geothermal Energy Development On September 21, the U.S. Department of Energy (DOE) announced it will allocate over $99 million to fund 21 projects aimed at advancing geothermal energy development nationwide. These projects will conduct field-scale testing of next-generation geothermal technologies and perform exploratory drilling to characterize—and ultimately confirm—the potential of promising geothermal resources. These 21 projects will advance geothermal development across two key areas. Five projects will carry out field-scale Enhanced Geothermal Systems (EGS) testing to validate the effectiveness of related technologies under real-world conditions; the remaining 16 projects will conduct exploratory drilling to identify and characterize promising next-generation geothermal resources. These initiatives will help reduce technological and developmental risks and provide essential information to support future commercial projects and investments. (Source: U.S. Department of Energy) 08 Li Auto: Has Developed Multiple Solid-State Battery Projects; Small-Batch Vehicle Integration Expected in 2027 or 2028 On September 22, a Cailian News reporter learned from an insider at Li Auto that the company’s solid-state batteries are expected to achieve small-batch vehicle integration capability in 2027 or 2028. Recently, Liu Zhimin, Senior Director of Power Battery at Li Auto, stated that the company has been consistently advancing its technical layout in the solid-state battery domain. Multiple projects are currently underway, and prototype validation using solid-state batteries has already been conducted in eyewear products.

Exploring New Energy! Geothermal Development and Utilization Must Advance into Deeper Strata

□ Zhang Ying Geothermal energy—a clean, low-carbon, and renewable resource—is attracting widespread attention globally amid climate change mitigation efforts and energy structure transformation. Compared with shallow (depth < 200 meters) and mid-deep (depth 200–3,000 meters) geothermal resources, deep geothermal resources (depth 3,000–10,000 meters) are more widely distributed, exhibit higher temperatures, and offer broader application prospects—yet their exploration and development pose significantly greater technical challenges. In recent years, countries and regions in Europe and North America have launched numerous sustained national geothermal programs and field test projects, pooling top interdisciplinary talent across the nation or region to conduct innovative R&D in deep-resource detection and evaluation, high-temperature drilling and reservoir stimulation for enhanced productivity, and co-production of associated mineral resources. A host of advanced oil-and-gas technologies—including horizontal well multi-stage fracturing—have been introduced and applied. Enhanced Geothermal Systems (EGS), designed specifically for developing the dominant deep geothermal resource—hot dry rock—were named one of the "Top 10 Breakthrough Technologies of 2024" by MIT Technology Review. The United States established its first EGS field test site at Fenton Hill as early as 1973 and has continuously funded multiple EGS projects—including The Geysers, Raft River, and Newberry—leading the world in site selection evaluation, heat extraction, and hydraulic fracturing technologies. Launched in 2015, the Frontier Observatory for Research in Geothermal Energy (FORGE) initiative aims to establish a dedicated field laboratory for cutting-edge EGS research, drilling, and technology testing—developing replicable methodologies to accelerate industrial-scale exploitation of hot dry rock resources. In its 2019 report, "GeoVision: Harnessing the Heat Beneath Our Feet," the U.S. DOE set a target for geothermal power generation capacity to increase twentyfold by 2050, supplying 8.5% of total U.S. electricity generation. Europe is the birthplace of industrial geothermal utilization, with countries such as Iceland, Italy, Germany, and France possessing abundant resources and mature industries. The EU’s Horizon 2020 program, launched in 2014, strategically funded innovations in deep geothermal technologies, methods, materials, and equipment—including their development, testing, demonstration, and deployment—to vigorously advance EGS and ultra-high-temperature deep geothermal resource development, as well as integrated production of electricity and associated minerals. In 2015, the European Commission established the European Technology and Innovation Platform on Deep Geothermal Energy (ETIP-DG), covering the entire value chain—from exploration and production to utilization—aiming to meet critical thermal demand and most electricity needs through geothermal energy. ETIP-DG’s 2019 "Deep Geothermal Energy Implementation Roadmap" envisions that by 2050, deep geothermal energy could satisfy 50% of Europe’s electricity demand and 80% of its heating demand—potentially transforming the EU’s electricity supply structure. Technological innovation is an indispensable pathway to efficient geothermal exploration and development, and to high-quality industry advancement. Long-term, substantial investment by European and North American countries in geothermal R&D—along with resulting foundational theories and key technological achievements—offers valuable lessons for others. However, China’s deep geothermal geological background is highly complex: mechanisms governing resource enrichment remain unclear, burial depths are great, and engineering geological conditions are intricate—making development even more challenging. Therefore, China cannot simply copy or transplant foreign geothermal exploration and development theories and technologies.

US Awards $99 Million for Geothermal Drilling and Technology Projects

Sep 21, 2026

The US Department of Energy selected 21 projects for up to $99 million in funding to advance geothermal energy development, including field tests of enhanced geothermal systems and exploration drilling.

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US Awards $99 Million for Geothermal Drilling and Technology Projects

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