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The City of Indianapolis will upgrade 425 non-police-pursuit sedans in its muncipal fleet to plug-in hybrid and battery electric vehicles by early 2016, cut the size of the fleet by 100 vehicles, and save $8.7 The City will replace 100 vehicles by the end of this year and 425 vehicles by the beginning of 2016. million over ten years.
However, Germany is now financing 80% of the higher purchase cost of e-buses. T&E said the EU’s €750-billion COVID recovery fund is a clear way to finance e-bus deployment. T&E also published a report identifying five key steps to get e-buses on the road, starting with political leadership and financial support.
Group14 Technologies announced $18 million in new financing from Amperex Technologies Limited (ATL), Showa Denko (SDK), Cabot Corporation, BASF Venture Capital, and OVP Venture Partners. The new funds will be used to scale-up manufacturing of a next-generation silicon-carbon composite anode material and advance into commercial production.
Registration of model year 2016 plug-in electric vehicles (PEVs) in New Jersey was up 79% over 2015, according to a recent analysis by ChargEVC , a diverse coalition of organizations and companies that support growth of the electric vehicle market.
The average price of a new light vehicle (including both cars and light trucks) was up to a record $31,790 in 2016, up from the most recent low of $28,243 in 2008. The average price for cars in 2016 was $25,774—similar to $25,750 in 2015 and $25,747 in 2014, and down from a high of $29,808 in 1999. Source: DOE.
Comet Biorefining, an industry leader in the production of high-purity cellulosic dextrose, has completed a round of equity financing led by new investor PM Equity Partner. Current investor Sofinnova Partners and new investor Bioindustrial Innovation Canada (BIC) also participated in the financing.
million) loan from a consortium of four French banks—BNP Paribas, Société Genéralé, CIC and Bpifrance—to complete the financing of its demo plant. This new financing will cover the purchase of a complete fermentation unit, comprising an inoculation fermenter, a propagation fermenter, and a 5,000L production fermenter.
In FY 2016, Porsche spent €2.2 —Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT. In 2016, the company founded Porsche Digital GmbH in Ludwigsburg and the Digital Lab in Berlin. FY 2016 was the company’s most successful. billion (US$2.4
The Federal Transit Administration (FTA) announced the availability of $55 million of Fiscal Year 2016 funds ( FTA-2016-003-TPM ) for the purchase or lease of low or no emission vehicles as well as related equipment or facilities under the Low or No Emission Program (Low-No) Program. the announcement of project selections.
The firm forecasts an immediate boom in demand for ternary Li-ion batteries—mainly used to power alternative energy vehicles—from 4.4GWh in 2015 to 10 GWh in 2016. According to CCM’s research, the new subsidy policies on AEVs will be adjusted in various aspects on the basis of the previous 2016-2020 subsidy plan.
The ratio of capital expenditure to sales revenue will be at a competitive level of around 6% on average in the period from 2012 to 2016. billion) in new production facilities and products in the period from 2012 to 2016. These investments will be financed using the joint ventures’ own funds. billion (US$85.4
—Kevin Cellucci, ClearFlame’s Director of Strategy“ Founded in 2016 by engineering entrepreneurs, the company, headquartered in Geneva, Illinois, has earned more than $50 million in seed funding, Series A financing, and most recently Series B investments. Earlier post.)
Global Bioenergies, an industrial biology company that develops sustainable routes to light olefins, announced a new €740,000 (US$952,000) financing from OSEO , a French SME-funding state agency, to support the creation of an isobutene production strain compatible with industrial pilot testing. Earlier post.).
Through START, Rio Tinto will also provide technical expertise through a sustainability advisory service and support for customers looking to build their sustainability offerings, benchmark and improve performance, support sourcing goals and access to green financing.
Panda Power Funds has financed the 1,124 megawatt Panda “Hummel Station” power plant—one of the largest coal-to-natural gas power conversion projects in the United States. The 829 megawatt “Liberty” power plant, located in Towanda, Pennsylvania, is expected to enter commercial operations in the first quarter of 2016.
Fuel from True Zero ’s hydrogen-fueling stations during 2016 powered more than 3.7 The number of fuel cell cars on California roads increased during 2016 and is expected to more than quadruple during 2017. The company also obtained financing from Toyota and Honda to help accelerate and grow its California hydrogen network.
More new vehicles in the US were leased in the first half of 2016 than during the first half of any other year in history, according to the latest Lease Market Report from Edmunds.com, the leading car shopping and information network. On average, monthly lease payments are 23% lower than monthly financing payments.
despite huge demand for biofuels from transportation end-markets, access to inexpensive feedstocks and financing hurdles remain challenging obstacles for biofuels production trying to keep pace with emerging mandates. Governments are expected to retreat from stimulus investment highs, shifting financing. versus chemicals, etc.),
WiTricity has secured $25 million in Series E financing from new and existing investors, including Intel Capital and Hon Hai/Foxconn. billion in 2016. In addition, the company recently secured its 50 th patent. According to analyst firm IMS Research, the global market for wireless power will grow 86.5% annually to be worth $4.5
By law, these excises are the primary revenue source for financing road, bridge and transit projects. The less motor fuel used by drivers, the less revenue generated for improvements financed through the HTF. mpg by 2016). mpg by 2016). Summary of the analysis. Click to enlarge.
Its Shanghai OnStar joint venture is the leading provider of safety, maintenance and telematics services in China, while its GMAC-SAIC joint venture is the automotive financing leader. In order to keep up its momentum, GM’s joint ventures are investing about $11 billion in vehicles, facilities and people through 2016.
Venture-backed startup Joby Aviation has secured $100 million in Series B financing to take its all-electric vertical take-off and landing (eVTOL) passenger aircraft into pre-production and certification.
The agreement aims to help finance the commissioning of 20 fast charging sites for the Electric Circuit in 2015, with five more planned for in 2016. Equipped with both CHAdeMO and SAE Combo plugs, the DC Fast Chargers will accommodate charging the Nissan LEAF and most electric vehicles.
This grant was initially set to finance 70 buses, but Transport for London has managed, through good negotiation and increased market confidence in hybrid buses, to increase this order so that, in total, more than 400 of these less polluting vehicles will be in service by next year. million) funding from the Department for Transport.
President Barack Obama’s 2016 Budget requests $29.9 The FY 2016 DOE Budget Request represents a 9% increase ($2.5 billion, the FY 2016 Budget requests $4.8 billion, the FY 2016 Budget Request provides $5.34 billion for the US Department of Energy (DOE). billion) above the FY 2015 enacted level. Within the $10.7
It seems like just yesterday when OPEC met in 2016 and decided to cut production by 1.8 It needs to keep revenues high to help its economy climb out of recession and finance ambitious social and economic transformation programs.”. Production is also at record highs, like Russia’s was ahead of the first cuts in 2016. shale oil.
million by 2016, with cumulative revenue of $901.3 Skeleton is currently preparing a launch of Round A financing at the end of February. According to a new report from Pike Research, worldwide sales of ultracapacitors will grow tenfold from just $28.2 million in 2011 to $284.1 million during that period.
In 2020, the size of the market increased four times compared to 2016, reaching an estimated $118 billion. Electric bus (e-bus) sales are the second-largest category, although annual investment in the segment has decreased from $21 billion in 2016 to $11 billion in 2020. billion for the 2.5GW Dogger Bank project in the UK North Sea.
In today’s Electrek Green Energy Brief (EGEB): A climate group report shows fossil-fuel financing continues to rise despite Paris Agreement pledges. trillion into fossil fuels since 2016 appeared first on Electrek. The world’s largest coal mining company sets its sights on solar.
FCA US will conduct an emissions recall to update emission control software in an estimated 100,000 model-year 2014-2016 Ram 1500 pickups and Jeep Grand Cherokee SUVs equipped with 3.0-liter —Mark Chernoby, FCA Head of North American Safety and Regulatory Compliance. liter EcoDiesel V-6 engines.
in the first quarter of 2016, surpassing the trillion dollar mark for the first time on record, according to Experian Automotive. The most recent State of the Automotive Finance Market report finds that loan balances reached $1.005 trillion in Q1 2016, up from $905 billion in Q1 2015. billion, up from $73.1
million) and include Samsung Ventures which contributed to the fund in December 2016. Since being founded in April 2015, it has contributed financing to nine innovative companies active in sectors related to Safran’s businesses (Industry 4.0, onboard components, new materials, new services, new flying platforms).
and efficiency financing, to develop new financing for energy storage. Spruce, an expert in residential solar and efficiency financing, and sonnen are developing financing purely focused on residential electricity storage, and plan to make it available to sonnen's channel partners in the first quarter of 2016.
Under the 2016 law (Chapter 57) signed by Governor Christie, New Jersey’s TTF program is required to provide $16 billion over eight years to support critical infrastructure improvements to the state’s roadways and bridges. The law enacted in 2016 contains a specific formula to ensure that revenue is meeting a certain target.
The financing will be placed mainly in research and development of new products and innovative technologies, as well as in process optimizations and modernization of the two production plants São Bernardo do Campo (Federal State São Paulo) and Juiz de Fora (Federal State Minas Gerais). billion Brazilian real (US$1.14
As part of the financing, Tim Woodward, managing director at Prelude Ventures, will join LevelTen Energy’s board of directors. LevelTen Energy, a Techstars accelerator alum, was founded in 2016 to expand the market for renewable energy by facilitating frictionless clean energy procurement for corporate and other large energy buyers.
Pinto has secured funds to complete the engineering, permitting and all other upfront work; construction financing is scheduled to close in the first quarter of 2014. Mechanical completion of the plant is expected in late 2015, with start-up in early 2016. Pinto is seeking to start construction in the first half of 2014.
Pursuant to the terms of the definitive agreements, Wanxiang would provide A123 with up to $75 million in initial debt financing under a Senior Secured Bridge Facility. Further, Wanxiang has demonstrated its commitment to partnering with and investing in U.S. — David Vieau, CEO of A123.
Additional state grants, combined with the Honda financing, could enable FirstElement to add at least 12 stations to its California hydrogen network. Seeking to expand California’s public hydrogen refueling station network as a means to support the wider introduction of fuel-cell vehicles, Honda will provide $13.8
The European Investment Bank (EIB) is providing a €65-million (US$89 million) loan to support the research and development projects of Biochemtex , an engineering subsidiary of the Mossi and Ghisolfi Group.
to Wanxiang America Corporation on the 3.75% convertible subordinated notes due 2016 in the aggregate principal amounts of $143,750,000. First, the company does not expect to pay its October interest payment of $2,695,312.50 Earlier post.). in aggregate principal amount of which are currently outstanding.
Founded in 2016, Soul Machines specializes in digital avatars and emotional intelligence. Emotional intelligence will play a crucial role in adapting services, such as car financing, leasing and insurance, car-sharing or ride-hailing to customers. —Benedikt Schell, Chief Experience Officer at Daimler Financial Services.
We’ve been working with LM Industries’ team at Local Motors since early 2016 when we realized the unique value proposition surrounding direct digital manufacturing and open-source design. A native German, he’s entrepreneurial and a self-starter across various industries including automotive, energy, medical devices, and engineering solutions.
However, because the such a model is currently not envisaged in the Business Plan, additional financing to develop this model could be required. With this financing in place, the business plan does not envisage any future funding being required, neither from Spyker or elsewhere, for Saab to return to profitability. Funding of Spyker.
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