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Direct lithium extraction (DLE) technology company Energy Exploration Technologies Inc. EnergyX) has secured commitments of $20 million in financing. The company said that the funding makes it the highest-valued direct lithium extraction technology company on the market.
Daimler plans a fundamental change in its structure, splitting into two independent pure-play companies: Mercedes-Benz Cars & Vans, and Daimler Truck, which will be a spin-off the current Truck and Bus business. It represents the start of a profound reshaping of the company. This is a historic moment for Daimler.
Tesla in Berlin, Northvolt in northern Germany and Italvolt near Turin are among the projects that stand to lose the greatest volumes of their slated capacity as the companies weigh up investing in the US instead. Battery investment in the US and China continued to grow, and European companies have already signalled expansion in America.
Deepsea mining company TMC The Metals Company ( earlier post ) announced a strategic partnership with Low Carbon Royalties Inc. to finance the development and production of low-carbon fuels and energy transition metals. TMC and LCR have agreed to a purchase and sale agreementwhereby LCR has acquired a 2.0%
announced the renewal of the Industrial Mining Licence for the Malsiripura, M1 mining project in Sri Lanka (known as Ceylon until 1972) from the Geological Survey and Mines Bureau (GSMB). The K1 mining project is fully permitted, and the company is in the process of deepening the shaft and has doubled capacity for hoisting graphite.
A group of leading shipping industrycompanies are taking the next step to develop new fuel types and technologies by launching the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping. The founding company partners behind this initiative are ABS, A.P. The Center expects to attract several more partner companies in the future.
The Metals Company (TMC) announced that its Australian subsidiary, The Metals Company Australia Pty Ltd., I’m thrilled that these trusted and independent institutions have agreed to undertake this research, setting a high bar for future work in this industry. —Gerard Barron, Chairman and CEO of The Metals Company.
Although on paper, capacity in the pipeline appears sufficient to meet this demand growth, Roskill expects challenges and set-backs in developing, financing and commissioning lithium mining and refining operations. However, longer term scenarios continue to show strong growth for lithium demand over the coming decade.
Airbus and LM Industries, the the parent company of Local Motors and Launch Forth, have formed Neorizon to provide disruptive and innovative products with an initial focus on local mobility and autonomy. —Jay Rogers, CEO and founder of LM Industries. leadership.
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. —Lawrence Xue, Managing Director of Legend Capital.
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. When the automotive industry is fully electrified, there will be a nearly trillion-dollar battery industry, 25 times bigger than today.
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.
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 EXOR is one of Europe’s largest diversified holding companies controlled by the Agnelli family.
HT Aero (Huitian), an urban air mobility (UAM) company and an affiliate of XPeng ( earlier post ), entered into a definitive agreement with a consortium of investors to raise more than US$500 million for its Series A capital funding. The funding round is led by IDG Capital, 5Y Capital and XPeng Inc.
recently completed a $50-million Series C financing round funded by Moore Strategic Ventures, LLC, the private investment vehicle of Louis M. Cowen acted as the company’s sole advisor and placement agent on the financing. Fisker Inc. Fisker also named Burkhard Huhnke as chief technology officer (CTO) of Fisker Inc.
The Asian Development Bank (ADB) mobilized a $135-million climate financing package for VinFast Trading and Production Joint Stock Company (VinFast) for manufacturing Vietnam’s first fully-electric public transport bus fleet and first national electric vehicle (EV) charging network.
In parallel, the company is starting to contract preferred suppliers for the plants, potential customers for hydrogen and CO 2 , and companies that can provide waste of suitable quantity and quality. FUREC receives funding from the EU Innovation Fund, which is 100% financed by the EU Emissions Trading System (ETS).
Representatives from the State of Hesse, RMV (Rhein-Main-Verkehrsverbund), Alstom and Infraserv broke ground for a hydrogen filling station on the site of the Höchst industrial park in Frankfurt that will supply a fleet of 27 passenger fuel cell trains—currently, the world’s largest such.
This will be the first volume production of fuel cells in Norway and a hub for the Norwegian hydrogen industry. 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. The company is assessing potential locations.
Seven companies from the GET H2 initiative in Europe want to build a cross-border pipeline for green hydrogen. By using green hydrogen in refineries, in steel production and for other industrial uses, the overall project should be able to avoid CO 2 emissions of up to 16 million tonnes by 2030.
The company will invest €60 million in the construction of its first production facility, called “Plant One”, of which €30 million comes from a European Investment Bank (EIB) loan facility. The rest of the financing comes from LeydenJar’s client projects, earlier committed grants and the Series A investment round in 2021. greenSPEED.
Porsche is investing US$75 million in HIF Global LLC, a holding company of internationally active project developers of eFuel production facilities. Among other projects, the Santiago de Chile-based company is building the Haru Oni eFuel pilot plant in Punta Arenas (Chile). Earlier post.). Punta Arenas pilot plant under construction.
OXCCU, a company spun-out from the University of Oxford in 2021 that is focused on converting carbon dioxide and hydrogen into industrial and consumer products ( earlier post ), completed an £18-million (US$22.8 million) Series A financing round.
Porsche AG has taken a 10% stake in the technology and electric sports car company Rimac Automobili. As part of its electrification efforts, Porsche is seeking a development partnership with the young company. —Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche.
German companies are very interested in participating in hydrogen projects in Australia, including as suppliers of electrolyzers. The German-Australian cooperation gives German companies the opportunity to export technology. Co-financing of an AUS-DEU H 2 incubator for applied research. Co-financing of “HydrogenHubs”.
For Groupe Renault, blockchain has to be used as a collaborative, multi-company digital tool within the automotive sector, thereby becoming a source of increased productivity and collective intelligence. Groupe Renault also consider blockchain as a vector for the transformation of the automotive industry.
Global oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. International oil companies (IOCs) are likely to face a Black Swan scenario, which could end up being a boon for state-owned oil companies (NOCs). by Cyril Widdershoven for Oilprice.com.
Cummins has entered into a definitive agreement to acquire Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. Meritor is an industry leader in axle and brake technology. Under the terms of the agreement, Cummins will pay $36.50
Baidu’s intelligent electric vehicle arm JIDU has closed Series A financing, raising nearly $400 million. This round of financing was backed by Baidu and its strategic partner multinational auto manufacturer Zhejiang Geely Holding Group. Now, in the span of ten months, JIDU has received a new round of financing.
Globally, the battery industry needs to invest at least $514 billion across the whole supply chain to meet expected demand in 2030, and $920 billion by 2035, according to a new analysis by Benchmark. Energy storage might form a relatively small piece of the overall financing required, but it is a strategically critical piece of the puzzle.
has acquired the full and sole ownership of the German company resulting from the former joint venture Nikola Iveco Europe, now to be renamed as EVCO (Electric Vehicles COmpany). Iveco Group N.V.
Niron Magnetics , a company developing high-performance rare-earth-free iron-nitride (FeN) permanent magnets, has raised $21.3 million in new financing. Tesla and will address a wide range of applications from audio speakers, magnetic sensors and consumer appliances to industrial motors and automotive accessory motors.
GM Ventures, the automaker’s investment arm, has made a strategic investment in Lithion Recycling’s Series A financing round, supporting a new GM-Lithion strategic partnership agreement to pursue a circular battery ecosystem using Lithion’s advanced battery recycling technology.
TAE Technologies , the world’s largest private fusion energy company, has spun-out a new subsidiary, TAE Power Solutions. TAE Power Solutions intends to deliver a novel technology to improve fundamentally the reliability, efficiency, longevity, and affordability of electric-powered products, from vehicles to renewable energy storage.
This financing round will enable the production of Divi-H at an industrial scale, under the first two mass manufacturing lines. These will allow the company to ship its first industrial-scale pilots with select partners and to continue the development of the next product, a CO 2 -purifying membrane. Source: DiviGas.
Faced with the compelling need for more respirators, the French government asked a group of French industrialcompanies led by Air Liquide to study the possibility of increasing the production of respirators so as to provide 10,000 respirators in 50 days, between the beginning of April and mid-May.
Additionally, NGHC also announced that the non-recourse financing structured for the project has been certified by S&P Global (as the second party opinion provider) as adhering to green loan principles and is one of the largest project financings put in place under the green loan framework.
Founder and CEO Scott Colosimo was inspired to delve into the EV industry after his success as the founder of Cleveland CycleWerks, a motorcycle design and manufacturing company. The District is on sale now, starting at $7020 after a 10% EV tax credit, with financing available. —Scott Colosimo.
The financing round will enable the company to scale from the batch processing of materials to commercial roll-to-roll production. Having a scalable, cost-competitive alternative to leather with premium qualities is key to further advancing the decarbonization of the automotive industry.
Following regulatory approvals, the company was founded at the end of April. XL2 was founded by Audi and Capgemini to support the automotive industry in digital transformation tasks. The joint venture that focuses on consulting and technology services for cloud and SAP S/4HANA includes industry solutions such as SAP Leonardo.
The first to introduce 100% silicon anodes in lithium-ion batteries to the market in 2013, Amprius manufactures the highest energy density commercial batteries in the industry. This financing will further boost the development of new generation batteries based on Silicon Nanowire Anode technology.
Hyundai Motor Company is partnering with Incheon International Airport Corporation (IIAC), Air Liquide Korea and Hydrogen Energy Network (HyNet) to establish a hydrogen refueling station for fuel cell electric buses at Incheon Airport’s Terminal 2 by March 2021. In September 2019, Hyundai and Cummins Inc. Earlier post.).
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. The two companies have partnered before, with the Weda Bay Nickel project in Indonesia. Eramet will control the project, with a 50.1%
Essen-based energy company STEAG, Duisburg-based steel producer thyssenkrupp Steel and Dortmund-based thyssenkrupp Uhde Chlorine Engineers, specializing in electrolysis technology, are working on a joint feasibility study. It is the key to using the great potential we have in reducing CO 2 emissions in the steel industry.
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