Duke Energy Corp - DUK STOCK NEWS

Duke Energy has launched a pioneering pilot project in North Carolina, testing an electric semitruck for supply chain logistics. The initiative, started in 2024, focuses on electrifying a vehicle that helps transport $1.5 billion worth of cargo annually. The EV semitruck covers approximately 500 miles weekly for the Garner Distribution Center, serving the Raleigh area. Initial results show significant benefits: from January to mid-August, the EV tractor drove 14,000 miles, saving nearly 1,947 gallons of diesel fuel and approximately $7,500 in fuel costs, while reducing CO2 emissions by 19.6 metric tons. The project demonstrates the viability of electric vehicles for commercial transportation within the 250-mile range limit.

Duke Energy highlights the success story of Lesly Luque, a senior cybersecurity analyst who joined the company in 2018. As a first-generation college graduate and daughter of Mexican immigrants, Luque now works as a scrum master in IT Compliance Enablement. She actively contributes to diversity initiatives through leadership roles in Latinas in Tech and Women in Technology of Charlotte, helping create opportunities for underrepresented groups in the technology sector. Duke Energy emphasizes its commitment to diverse talent recruitment, particularly in IT, through programs like Road to Hire and Youth Energy Academy, supported by over $120,000 in funding since 2016.

The Duke Energy Foundation and the Indiana Economic Development Association Foundation are jointly committing $150,000 in grant funding to improve access to affordable child care in Indiana communities. Organizations can apply for grants up to $40,000 by January 31, 2025. This follows a previous $100,000 funding round last year. According to an Indiana Chamber of Commerce report, the state loses approximately $4.22 billion annually due to child care shortfalls, including $1.17 billion in tax revenue losses. Currently, only 61% of children needing care can be served through existing capacity.

Duke Energy Foundation has announced $285,000 in grants to support environmental vitality and resiliency across Florida. Ten environmental organizations will receive funding for initiatives focused on improving Florida's habitat and waterways. Recipients include Bok Tower Gardens for wildlife corridor development, The Nature Conservancy for Florida Wildlife Corridor preservation, and various other organizations working on wetland improvements, bird protection, and coastal resiliency projects. Over the past five years, the Foundation has committed more than $3 million to ecological initiatives and natural disaster response in Florida.

Duke Energy showcases its innovative approach to storm restoration through their in-house developed tool called AIR, which proved effective during Hurricanes Helene and Milton. The utility company, serving 8.2 million electric customers across six states and 1.6 million natural gas customers across five states, demonstrates its commitment to technological advancement and community service.

The company is actively pursuing an ambitious clean energy transition, targeting net-zero methane emissions from natural gas operations by 2030 and net-zero carbon emissions from electricity generation by 2050. With interim goals including 50% carbon emission reduction by 2030 and 80% by 2040, Duke Energy continues to invest in grid enhancements and explore zero-emission technologies.

Piedmont Natural Gas, a Duke Energy (NYSE: DUK) subsidiary, is raising awareness about natural gas leak safety as more homes use gas heating during fall and winter. The company injects mercaptan into natural gas to give it a distinctive rotten egg smell, making leaks easily detectable. Signs of a leak include bubbling water, blowing dirt, dead plants, sinkholes, exposed pipe, and hissing sounds. If a leak is suspected, residents should leave immediately and call Piedmont (800.752.7504) or 911 from a safe location. The company also recommends installing natural gas detectors as an additional safety measure.

Duke Energy demonstrated the effectiveness of its self-healing technology during hurricanes Helene and Milton in Florida, preventing over 300,000 customer outages and saving more than 300 million minutes of total outage time. The technology, which serves 77% of Duke Energy Florida customers, can reduce affected customers by up to 75% and restore power in under a minute. The company's grid improvements include hardening over 40,000 poles in three years, maintaining vegetation across 4,000 miles of distribution lines, and expanding infrastructure with 100 miles of new transmission lines and 16 new substations since 2021.

Duke Energy is developing one of the largest utility-based Habitat Conservation Plans (HCP) focusing on bat protection and vegetation management. The initiative aims to balance necessary grid maintenance across 380,000 miles of right of way with environmental conservation. The U.S. Fish and Wildlife Service awarded Duke Energy a $1 million grant for 2024-2025 to support this project. The plan addresses eight federally endangered or threatened bat species affected by white-nose syndrome and habitat loss. The company expects permit issuance by 2026, with the conservation plan lasting up to 30 years.

Duke Energy launches a monthlong campaign to combat hunger in South Carolina, pledging over $500,000 to support more than 50 feeding programs. The initiative begins with Yam Jam, where 170 volunteers packaged 50,000 pounds of sweet potatoes for Thanksgiving food boxes. The Duke Energy Foundation is contributing $100,000 to FoodShare South Carolina organizations, including $30,000 to Mill Village Farms. The campaign addresses critical needs in South Carolina, where nearly 700,000 people face food insecurity, including 1 in 8 residents and 1 in 6 children, particularly as communities recover from Hurricane Helene.