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Direct lithium extraction (DLE) technology company Energy Exploration Technologies Inc. The company said that the funding makes it the highest-valued direct lithium extraction technology company on the market. In 2020 global supply was roughly 315k tons; this is expected to rise to 5.5M Earlier post.) tons by 2040.
Our ambition is to build an advanced innovation center combined with a giga factory, meaning that we will produce fuel cells with a capacity of 1200 megawatts, or 1.2 We combine a best-in-class fuel cell solution with a long history of being a trusted engineering partner to leading companies in the global maritime industry.
General Motors will invest more than $81 million into the company’sGlobal Technical Center in Warren, Michigan, to prepare the campus to build the Cadillac CELESTIQ ( earlier post ). The investment will be used to purchase and install related equipment to hand-build the CELESTIQ and campus renovation work has already begun.
Raven SR , a renewable fuels company, and Hyzon Motors Inc., a global supplier of hydrogen fuel cell-powered commercial vehicles, announced a joint venture to build up to 100 hydrogen hubs across the United States and globally. As a non-combustion process, there is no ash, no slag, build up, or hotspots in the equipment.
Unifrax, a global manufacturer of high-performance specialty materials, plans to build its first large-scale SiFAB (silicon fiber anode material) manufacturing line at its north central Indiana facility. The Indiana plant will be the first to begin building SiFAB long-term manufacturing capacity.
Vaekstfonden, the Danish Growth Fund, and the German engine manufacturer DEUTZ AG, are investing €15 million in methanol fuel cell company Blue World Technologies. The aim is to bring the company’s green fuel cell products and solutions to the global market. million in the company. —Dr Frank Hiller, CEO of DEUTZ AG.
ABIC), a special purpose acquisition company (SPAC), have entered into a definitive business combination agreement under which ABIC will combine with LiveWire, Harley-Davidson’s electric motorcycle division ( earlier post ), to create a new publicly traded company. Harley-Davidson and AEA-Bridges Impact Corp. billion at closing.
In Seoul, Hyundai Motor Company unveiled a strategic roadmap to accelerate its electrification ambition as it pursues sustainable progress for the company. The company also unveiled targets for sales and financial performance to be achieved by 2030. Under the new plan, the company aims to boost annual global BEV sales to 1.87
a waste-to-fuels company, closed a $20-million strategic investment from Chevron USA, ITOCHU, Hyzon Motors and Ascent Hydrogen Fund. Raven SR plans to build modular waste-to-green hydrogen production units and renewable synthetic fuel facilities initially in California and then worldwide. Raven SR Inc., Earlier post.).
Ford has produced its 150,000 th Mustang Mach-E electric vehicle since starting production nearly two years ago, a significant milestone as the company scales EV production to a rate of 600,000 annually by late 2023 and more than 2 million annually by 2026.
million Series A financing round led by prominent Silicon Valley venture fund, Playground Global, with the investor syndicate comprising Fortescue Future Industries, Coatue, Global Founders Capital, Plug Power, Airbus Ventures, JetBlue Technology Ventures, Toyota AI Ventures, Sojitz Corporation, and Future Shape.
Global Power Synergy PLC (GPSC) is building a battery manufacturing facility in Thailand using 24M’s novel SemiSolid lithium-ion technology ( earlier post ). GPSC is the main power and utility company of PTT Group. In the long run, it will consider building a new commercial plant in another location. Earlier post.)
Deepsea mining company TMC The Metals Company ( earlier post ) announced a strategic partnership with Low Carbon Royalties Inc. This transaction also offers TMC shareholders exposure to a royalty company that I am confident under Brian’s leadership will become a market leader.
Each company will invest in the joint venture. The companies believe that by doing this, the lead time from development to commercialization will be substantially shortened, making it possible to dramatically increase the pace of each stage of FCEV proliferation in the Chinese commercial vehicle market.
At an event in the GM Tech Center campus in Warren, Michigan, General Motors unveiled the core of its new strategy to grow the company’s EV sales quickly, efficiently and profitably. The heart of GM’s strategy is a modular propulsion system and a highly flexible, third-generation global EV platform powered by proprietary Ultium batteries.
Lightning eMotors, a leading provider of commercial electric vehicles for fleets, announced a $45-million order for its zero-emission powertrain systems from Faribault, Minnesota-based motorcoach supplier ABC Companies. —Roman Cornell, president and chief commercial officer of ABC Companies. —Roman Cornell.
Ricardo has partnered with UK-based technology company Brightec to develop a smartphone app which will enable hybrid vehicles to sense that they have entered a clean air zone and encourage a switch to electric mode. The project addresses both the existing vehicle fleet and also extends to long-term improvements in air quality.
Ford announced a new global battery center of excellence—called Ford Ion Park—to accelerate research and development of battery and battery cell technology, including future battery manufacturing. —Hau Thai-Tang, Ford’s chief product platform and operations officer. This 200,000 sq.-ft.
The sooner and more exactly the energy suppliers and power grid operators know what customers’ infrastructure requirements will be, the faster and more efficiently they can build them up. Global electric truck portfolio at Daimler Trucks. Different energy suppliers can use these concepts, significantly reducing their planning time.
Australia-based Lynas Rare Earths Limited entered into an agreement with the US Government to build a commercial Light Rare Earths separation plant in the United States, through a wholly owned subsidiary, Lynas USA LLC. Lynas will also be expected to contribute approximately US$30 million under the agreement.
Energy company SGH2 is bringing the world’s biggest green hydrogen production facility to Lancaster, California. The technology has been vetted and validated, technically and financially, by leading global institutions including the US Export-Import Bank, Barclays and Deutsche Bank, and Shell New Energies’ gasification experts.
Volvo Cars formally inaugurated a new battery assembly line at its Belgian manufacturing plant in Ghent, where it will start building its first fully electric car, the XC40 Recharge P8, later this year. —Geert Bruyneel, head of global production operations. Volvo XC40 Recharge powertrain.
Li-Cycle Holdings, the leading lithium-ion battery recycler in North America, and Vines Energy Solutions ( VinES ), a Vingroup company that specializes in the research, development and manufacturing of advanced batteries for mobility and energy storage applications, launched a global recycling partnership. Earlier post.)
The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year—from fossil fuels to renewables and efficiency—the International Energy Agency said in a new report. —Dr Fatih Birol, the IEA’s Executive Director.
billion (assuming no redemptions) for the combined company, which will be renamed “TMC the metals company Inc.” and operate as The Metals Company upon closing. We looked at over 100 companies, many of them in the EV and renewable energy space. DeepGreen Metals Inc., Seafloor polymetallic nodule. Transaction overview.
Ford Motor Company will build two new massive, environmentally and technologically advanced campuses in Tennessee and Kentucky that will produce the next generation of electric F-Series trucks and the batteries to power future electric Ford and Lincoln vehicles. billion BlueOvalSK Battery Park—creating 5,000 jobs.
Allison brings more than 100 years of experience in building reliable and valued propulsion solutions, including two decades of electrified propulsion systems development and commercialization. Together, the companies will further define product portfolio scope, manufacturing locations and supporting resources to be provided by each party.
Topsoe is currently a global leader in hydrogen technology, catalysts, and services that enable efficient production of hydrogen. Development of the automated manufacturing facility that will be the largest of its kind is ongoing. Construction will commence in 2022 in order for the facility to be operational by 2023.
The company subsequently has established itself as South Korea’s sole provider of full-stack autonomous vehicle simulation solutions. It has also formed partnerships with a variety of global players such as NVIDIA, Ansys, and dSPACE. Digital Twin Environment generated from MORAI SIM – Las Vegas, NV.
Volvo Cars will build a third manufacturing plant in Europe, positioning the company well to meet the continued demand from its customers for electric cars and capture future growth potential. million cars by mid-decade, which it aims to meet with a global manufacturing footprint spanning Europe, the US and Asia.
Cepsa—the Spain-based multinational oil and gas company—will invest more than €3 billion to establish the Andalusian Green Hydrogen Valley, creating the largest green hydrogen hub in Europe in southern Spain. The company will build two plants with a total capacity of 2 GW to produce green hydrogen.
The global capacity for carbon capture in 2030 is set to increase sixfold from today’s level, to 279 million tons of CO 2 captured per year, according to research company BloombergNEF’s (BNEF) newly released 2022 CCUS Market Outlook. of global emissions. Companies are already becoming more ambitious in their projects.
With immediate effect, responsibility for global battery business is to be held by the newly created company “PowerCo”. In addition to cell production, the new company will be responsible for activities along the entire battery value chain. PowerCo will become a global battery player. —PowerCo CEO Frank Blome.
EIT InnoEnergy, the European innovation engine for sustainable energy, announced a partnership with Vulcan Energy Resources Limited (Vulcan), a start-up lithium exploration company, to produce the world’s first completely carbon-neutral lithium in Germany.
Wolfspeed, a global leader in Silicon Carbide technology, will build a new multi-billion-dollar Materials manufacturing facility in Chatham County, North Carolina. Between 2024 and the end of the decade, the company will add additional capacity as needed, eventually occupying more than one million square feet on the 445-acre site.
Redwood Materials will build its next Battery Materials Campus just outside of Charleston, South Carolina. The site also provides the company the opportunity to expand operations potentially to several hundred GWh annually to meet future demand. billion in the local community.
BlueOval City also is a key part of Ford’s plan to scale EV production and make them more accessible to customers; the company is targeting a production run rate of 2 million EVs annually across the globe by late 2026. BlueOval City is designed to be Ford’s first carbon-neutral vehicle manufacturing and battery campus.
Niron Magnetics , a company developing high-performance rare-earth-free iron-nitride (FeN) permanent magnets, has raised $21.3 Niron will use the funding to build its pilot production facility in Minnesota and accelerate the development of its Clean Earth Magnet technology. million in new financing.
This commitment comes after successful pilots across different cities in 2019; learnings from these pilots have helped the company create scalable and long term EV variants to build this large fleet. Earlier post.)
million to build a hydrogen development and test facility at its Shoreham Technical Centre in the UK. Designed to support the company’s existing work in hydrogen, fuel cells and green alternative fuels, the new facility will deliver state-of-the-art test and development to advance capability in both alternative fuels and electric vehicles.
Hydrogen mobility and clean energy company, HYZON Motors, and Total Carbon Neutrality Ventures, the venture capital arm of European energy giant Total SE, announced a strategic investment led by Total and other specialist hydrogen investors.
The plant already builds the XC40 Recharge, the company’s first fully electric car, as well as a plug-in hybrid version of the XC40. Volvo Cars is committed to becoming a premium electric car company and in coming years, the company will launch several fully electric cars. Volvo XC40 Recharge production in Ghent, Belgium.
Energy storage installations around the world are projected to reach a cumulative 411 GW (or 1,194 GWh) by the end of 2030, according to the latest forecast from research company BloombergNEF (BNEF). The “Inflation Reduction Act” will drive roughly 30GW/111GWh of energy storage build from 2022 to 2030, according to BNEF.
Foxconn plans to build an EV ecosystem and a complete battery production chain in the southern city as part of its ambition to expand into the EV industry, ranging from the development of EVs to the production of battery packs and cells, and energy storage systems. million (US$50,000) per vehicle.
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