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Energy Conversion Devices files Chapter 11, seeks sale of businesses; Ovonic Battery Company sold to BASF Corporation

Green Car Congress

51-year-old Energy Conversion Devices, Inc. OBC), to BASF Corporation for the gross purchase price of $58 million in cash before transaction fees, minority participations, and working capital and other adjustments. Ovonyx is a joint venture with its co-founder Tyler Lowrey and its shareholders include Intel Corporation.

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Has Nikola’s Founder’s Fraudulent Activity Changed the EV Conversation?

Clean Fleet Report

Then Nikola’s Founder’s fraudulent activity was uncovered, and the conversation surrounding EVs has changed for better or worse. Nikola was outed by activist short-seller Hindenburg Research after it received a whistleblower tip about Milton’s corporate wrongdoings. Now they’re rolling under their own power.

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A123 Systems and Wanxiang execute definitive agreements for investment of up to $465M in A123

Green Car Congress

US-based Li-ion battery manufacturer A123 Systems announced the execution of definitive agreements with China’s Wanxiang Group Corporation, which follows the non-binding memorandum of understanding (MOU) that A123 signed with Wanxiang on 8 August 2012. Earlier post.)

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Report from the REFF-Wall Street; Themes in Renewable Energy Finance

Green Car Congress

Green Car Congress attended the Renewable Energy Finance Forum - Wall Street (REFF-Wall Street) conference (23-24 June) sponsored by Euromoney Energy Events and the American Council on Renewable Energy (ACORE). Renewable energy projects are frequently financed with project rather than corporate finance. by Bill Cooke.

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Ampal Signs Option Exercise Agreement to Acquire 25% in Ethanol Project in Colombia

Green Car Congress

Israel-based Ampal-American Israel Corporation signed an option exercise agreement with Merhav (M.N.F) The purchase of the 25% equity stake and the conversion of the loan is subject to the initial disbursement of a loan from Banco do Brasil, the lender providing project financing to the project.

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A123 Systems in non-binding MoU with Wanxiang for strategic investment of up to $450M; Wanxiang would own up to 80% of A123 common stock

Green Car Congress

A123 Systems, a developer and manufacturer of advanced lithium-iron phosphate batteries and systems, signed a non-binding memorandum of understanding (MOU) with Wanxiang Group Corporation establishing the framework for a strategic investment through which Wanxiang would invest up to $450 million in A123. million (a decrease of 53% from $36.4

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Valero And Mission NewEnergy Execute 5-year, US$3.5B Biodiesel Supply Agreement

Green Car Congress

The agreement further provides a subsidiary of Valero the right to purchase up to 25% of Mission at A$0.45 Under the terms of the equity deal, Mission will issue Valero two tranches of warrants to purchase common stock. per common share, representing a 61% premium to the current 30-day Volume Weighted Average Price.

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