Ocean Power Technologies Warns of Going-Concern Doubt, Launches Strategic Review

Pacific Gas and Electric Company announced new grant agreements for community microgrid projects moving into development and the selection of six new projects in the second application window of its Microgrid Incentive Program. The second wave directs $30 million to projects serving more than 2,200 customers and supporting critical facilities including schools, fire stations and health centers, with individual awards ranging between $2-6 million each. That $30 million is the second tranche of the program's PG&E funding, following the $43 million PG&E announced in 2025 for nine initial projects, bringing the combined authorized community microgrid investments to more than $73 million. In the first round, three proposed projects in Lake County are advancing a first-of-its-kind approach known as Firemain Linked Auxiliary Supply/Hydraulic Energy Storage, pairing tens of megawatts of locally generated solar with pumped hydroelectric storage, and are moving into early development with geotechnical core boring and initial test well drilling planned. In the second round, the Pescadero project in San Mateo County will be led by WestLight Energy, formerly Peninsula Clean Energy, and will integrate a roughly 1.5 megawatt solar system and a 2 megawatt battery energy storage system to support at least 24 hours of standalone operation. The Microgrid Incentive Program is a statewide $200 million competitive grant program, with $79.2 million allocated to PG&E, $83.3 million to Southern California Edison and $17.5 million to San Diego Gas and Electric, and awards of up to $14 million each.

The Energy Policy and Planning Office expects primary energy demand for all of 2026 to average 2.042 million barrels of crude oil equivalent per day, up 1.4% from 2025, when it fell 1.6%. The forecast assumes the Thai economy grows 2.0-2.5%, Dubai crude prices of 80-90 US dollars per barrel, and an exchange rate of 32.50-33.50 baht per US dollar. Wattanapong Kurovat, director of the Energy Policy and Planning Office, said that in the first six months of 2026, Thailand's primary commercial energy use was about 2.062 million barrels of crude oil equivalent per day, up 0.9% from the same period a year earlier, in line with first-half economic growth of 2.4%. For the full-year trend, oil use is expected to rise 0.1%, natural gas 8%, and hydropower and imported electricity 5.9%, while coal and lignite use will fall 15.6%. However, developments still to be watched include Middle East conflicts, uncertainty over US trade measures, and weather conditions, which could affect energy prices and the country's energy demand over the remainder of the year.

Blockfusion USA, Inc. announced that its wholly owned subsidiary, North East Data, LLC, has entered into a definitive anchor lease with CoreWeave, Inc. for capacity at Blockfusion's Niagara Falls, New York campus, alongside a companion expansion agreement. The two agreements convert the non-binding letter of intent announced on June 30, 2026, into definitive agreements, and the lease carries a 15-year initial term with two five-year renewal options. Blockfusion has transformed a decommissioned power plant into a low-carbon data center powered predominantly by hydroelectric power and is now adapting the campus for high-density, liquid-cooled AI infrastructure, benefiting from an existing grid interconnection, clean energy and redundant fiber infrastructure. Chief Executive Officer Alex Martini-Lo Manto called the agreement a defining milestone for Blockfusion and strong validation of the Niagara Falls campus, while Mayor Robert Restaino said the commitment creates opportunities for residents and businesses. The agreements also mark a step in Blockfusion's proposed business combination with Blue Acquisition Corp., which is expected to result in Blockfusion Digital Infrastructure, Inc. becoming a publicly traded company listed on the Nasdaq Stock Market under the ticker symbol BDI, with additional information to be included in an amendment to the registration statement on Form S-4 filed with the U.S. Securities and Exchange Commission.