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Tesla Vice President of Finance Sendil Palani recently addressed claims from former secretary of labor and UC Berkeley Professor Robert Reich about the electric vehicle maker’s federal tax payments. “This has been a very, very difficult business to build. Tesla losses were high for many years, so carry forward.
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 Financing alternatives are being evaluated. gigawatt, per year. This corresponds to several hundred million euros in annual turnover.
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.
a manufacturer of electric-mobility solutions to the transportation sector ( earlier post ), closed a $35-million financing with Marathon Asset Management. This agreement provides meaningful, near-term funding that will go directly toward building and delivering vehicles to customers in 2019. Workhorse Group Inc.,
Broader collaboration among key stakeholders and a new generation of finance solutions will be needed to electrify trucks and buses at scale by 2050, according to a report released today by Environmental Defense Fund (EDF), MJ Bradley and Vivid Economics. —“Financing the Transition”. —“Financing the Transition”.
China’s Tsingshan , the world’s largest producer of stainless steel, will invest $375 million to build a lithium plant in Argentina with French multinational mining and metallurgy company Eramet. interest, and will retain operational management responsibility; its partner Tsingshan is financing the plant construction in exchange for 49.9%
Volta, a builder of commerce-centric electric vehicle (EV) charging networks, announced an oversubscribed Series D financing of $125 million. Goldman Sachs acted as exclusive placement agent to the company in connection with the financing. —Scott Mercer, Founder and CEO of Volta.
Iberdrola and H2 Green Steel (H2GS, earlier post )have signed an agreement to build a plant with an electrolysis capacity of 1 GW. The project will be financed through a combination of public funds, green project financing instruments and own funds.
Wind project financing was up 16% from 1H 2021, at $84 billion. Both sectors have been challenged recently by rising input costs for key materials such as steel and polysilicon, as well as supply chain disruptions and rising financing costs. The 2Q figure, at $3.9 billion raised, is the lowest quarterly total since 2Q 2020.
Bloomberg New Energy Finance reports that clean hydrogen could cut up to 34% of global greenhouse gas emissions from fossil fuels and industry. It can also provide lowest-cost long-term storage for electrical grids relying on renewable energy. Hydrogen can also reduce and potentially replace natural gas in all applications.
Van Hool has been building hydrogen buses for the American market since 2005 and for the European market since 2007. By now, Van Hool has produced 53 hydrogen buses for North America (21) and Europe (32). The eight hydrogen-powered tram-buses Van Hool is manufacturing for Pau (France) should be added to this total.
million) to build a Li-ion battery separator plant in China. This investment will help us build a springboard to become the world’s biggest in terms of wet separator market share, a notch up from the current position as the world’s second largest. in China, a wholly owned subsidiary, to finance the investment in the country.
Ford Motor Company and its financing subsidiary, Ford Motor Credit Company, introduced the North America auto industry’s first sustainable financing framework, focusing on and paying for ambitious plans in vehicle electrification and other environmental and social areas. Vigeo Eiris, an arm of Moody’s Corp.,
In addition to the company’s Proterra Transit and Proterra Powered business units, Proterra Energy offers a turn-key approach to delivering the complete energy ecosystem for heavy-duty electric fleets through charging infrastructure design, build, financing, operations, maintenance and energy optimization.
Seven companies from the GET H2 initiative in Europe want to build a cross-border pipeline for green hydrogen. Collectively, the overall project can map the essential building blocks of the green hydrogen value chain and form the basis for an efficient European gas infrastructure for hydrogen.
BoA said it would allow consumers the option to finance residential electric vehicle chargers alongside their auto loans through the bank. The option of letting consumers finance the chargers will ultimately fall into the hands of dealers and manufacturers, the company said. billion to build out a national network of EV chargers.
Its innovative service models offer subscription solutions such as software-as-a-service and fully financed charging-as-a-service. InCharge Energy’s innovative service models offer subscription solutions such as software-as-a-service and fully financed charging-as-a-service. —Frank Muehlon, President of ABB’s E-mobility Division.
The BMW Group and Great Wall Motor have launched a new joint venture—Spotlight Automotive Limited—and are building a joint plant in China, where the BMW Group will produce future fully-electric models of its MINI brand. Jiangsu is also one of the leading provinces for finance, education and technology.
Another great advantage of the partnership: a country like Australia, which has previously exported coal on a large scale, is building up a new, climate-friendly perspective as an energy exporter, true to the motto ‘shipping the sunshine’—practically packaged sunshine from Australia. Co-financing of “HydrogenHubs”.
The Showroom includes the State EV Policy Dashboard; EV Roadmap Roundup; EV Funding and Financing Guide; EV Tools and Calculators Clearinghouse; AchiEVe Toolkit; Freight Electrification Report; and ZEV State Scorecard. The State EV Policy Dashboard displays the status of 10 leading state EV policy strategies, updated monthly.
Government leaders, ministers, international finance, business partners and civil society from across Africa attended the unveiling event. The report was formally handed over to partners on 20 December. Pilot projects need to show successful green hydrogen generation, storage, distribution and use at both demonstration and commercial scale.
As part of the FUREC project, RWE plans to build a pre-treatment plant in Zevenellen, Limburg, to convert non-recyclable municipal solid waste (MSW) into solid recovered fuel pellets. FUREC receives funding from the EU Innovation Fund, which is 100% financed by the EU Emissions Trading System (ETS). textiles, paper).
—Glenn Ellis, President of Hino Trucks To compliment the EV transition, Hino Trucks is building infrastructure to support these trucks with Hino INCLUSEV , a portfolio of end-to-end electric vehicle enablement exclusively available through Hino’s nationwide dealer network.
The A$300 million (US$193 million) Advancing Hydrogen Fund will be administered by the Clean Energy Finance Corporation (CEFC). CEFC finance remains central to filling market gaps, whether driven by technology, development or commercial challenges. The CEFC Advancing Hydrogen Fund will draw on existing CEFC finance.
million in new financing. Niron will use the funding to build its pilot production facility in Minnesota and accelerate the development of its Clean Earth Magnet technology. Niron Magnetics , a company developing high-performance rare-earth-free iron-nitride (FeN) permanent magnets, has raised $21.3
The success of these tests will be a key building block for Enel to include the Arrival Bus within its portfolio of global electrification solutions. The tests will be carried out at the Vallelunga circuit, where Enel X Way’s advanced charging services and solutions will also be used to charge the vehicles.
—“State of Finance for Nature”. trillion finance gap between now and 2050, by “building back more sustainably”, by repurposing agricultural and fossil fuel subsidies and by creating economic and regulatory incentives. The report calls for coupling investments in restoration action with financing conservation measures.
According to the Fiscal Impact Statement prepared by the Finance Division of the City Council, there are approximately 10,700 school buses City-wide, of which the City manages approximately 960 in partnership with the NYC School Bus Umbrella Corporation (NYCSBUS). million in capital costs through Fiscal 2035, or $28.3
EnergyX) has secured commitments of $20 million in financing. EnergyX, along with its new partners and strategic investors including Obsidian Acquisition Partners, Helios Capital, and the University of Texas, hope to build a strong platform that binds together industry, academia, and natural resource management. Source: EnergyX.
Building sustainable and clean energy systems will be harder, riskier and more expensive without nuclear, according to the new report, Nuclear power and secure energy transitions: From today’s challenges to tomorrow’s clean energy systems.
SK Innovation will initially invest US$1.148 billion in SK Battery Hungary (SKBH) to build its third European factory in Iváncsa, Hungary, with a production capacity of 30 GWh per year. The company plans to finance the project externally according to the construction schedule. billion ultimately to be spent in construction.
to finance the development and production of low-carbon fuels and energy transition metals. Our extensive experience in building, developing and financing natural resource assets and companies allows us to consider trade-offs of resource projects thoughtfully.
A range of financing options and maintenance services will also be offered. HYVIA builds on the expertise of Plug Power, a global leader of hydrogen solutions with more than 20 years of experience in fuel cells and electrolyzers, and a network of more than 100 refueling stations that dispense more than 40 tons of hydrogen every day.
It further strengthens our long-term commitment and focus on our Project as we work together with CATL to bring 3Q into full development by building a comprehensive financing plan. Space is available to build the ponds in a suitable location, from a geotechnical perspective.
The acquisition of the two mines was financed through US$36 million in debt, royalty and stream financing provided by funds managed by Sprott Resource Streaming and Royalty Corp. million in lease payments for use of the land and buildings. and a CDN$23-million equity offering lead by Sprott Capital Partners LP.
The parties will form a working group to develop terms of reference for the LNG icebreaker design and construction, select a shipyard, and consider financing options. The new LNG icebreaker will enable Nornickel to replace the Taimyr-type vessel that will be decommissioned in 2027–2029.
Via , a company that provides digital infrastructure to power public mobility in cities around the world ( earlier post ), has raised a Series E financing led by EXOR. The financing values the company at $2.25 billion and will enable Via to advance its vision of efficient, accessible, and equitable public mobility.
Financing a first of its kind plant, based on an innovative technology is always a challenge. Progress in engineering and forecasted prices for our products now higher than initially anticipated are fueling our optimism regarding the plant’s financing within the new schedule. Global Bioenergies will soon be receiving €2.6
AlphaStruxure will design, build, finance, own and operate the project to enable Ride On’s growing electric bus fleet. Rather than buying the microgrid and charging infrastructure outright, the County partnered with AlphaStruxure, who builds, owns, operates and maintains the system.
As part of a more focused corporate structure, both Mercedes-Benz and Daimler Truck will also be supported by dedicated captive financial and mobility service entities, driving sales with tailor-made financing, leasing and mobility solutions, increasing retention and building customer loyalty.
Inceptio Technology, an autonomous driving truck technology and operation company ( earlier post ), closed a US$188-million Series B+ equity financing. This round of financing was jointly led by Sequoia Capital China and Legend Capital. Existing investors Meituan, NIO Capital, Eight Roads, Broad Vision Funds, etc. also participated.
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.
Through its financing arm Siemens Financial Services (SFS), Siemens becomes a minority shareholder in Electrify America with a low triple-digit million USD investment and will hold a seat on the board. The Volkswagen Group and Siemens are investing $450 million in Electrify America, with a post-money valuation of $2.45
In addition to the Company’s Proterra Transit and Proterra Powered business units, Proterra Energy offers a turn-key approach to delivering the complete energy ecosystem for heavy-duty electric fleets through charging infrastructure design, build, financing, operations, maintenance and energy optimization.
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