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A123 Systems receives interim court approval of $50M DIP financing from Wanxiang; responds to objections from Wanxiang, Fisker and others on asset sales process

Green Car Congress

announced that the United States Bankruptcy Court for the District of Delaware (the "Court") has granted A123 interim approval to use $50 million of Debtor-in-Possession (DIP) financing, which is being provided by Wanxiang Group Corporation (Wanxiang). The financing supplements the pre-petition $22.5 Earlier post.).

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Elon Musk’s ‘Dexit’ sparks corporate exodus, threatens Delaware’s business throne

Teslarati

Delaware’s corporate grip seems to be slipping. ” The “Dexit” Exodus: Meta, Dropbox, Pershing Square, Trade Desk, Fidelity National Financial, and Sonoma Pharmaceuticals have drafted up plans to potentially exit Delaware and incorporate somewhere else, as noted in a Yahoo Finance report. .”

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Danish Parker project developing universal definition for EV integration with electric grid for V2G services

Green Car Congress

Nissan, Mitsubishi Corporation, Mitsubishi Motors Corporation, PSA Groupe, NUVVE, Frederiksberg Forsyning, Enel, Insero and DTU (Technical University of Denmark) Electrical Engineering (PowerLabDK) are partnering in the Danish project Parker to develop a universal definition for grid integration for electric vehicles.

Grid 231
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Visteon Files for Chapter 11 Reorganization in United States

Green Car Congress

Global automotive supplier Visteon Corporation and certain of its US subsidiaries voluntarily filed petitions for relief under Chapter 11 of the US Bankruptcy Code. The petitions were filed in the US Bankruptcy Court for the District of Delaware. No Visteon subsidiaries or joint ventures outside the US are part of the filing.

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Nikola turns to Delaware legislation to backup finance hydrogen pivot

Baua Electric

Corporate executives mentioned it might additionally lift $500 million in the future via present credit score and mortgage guarantees. The corporate confronted delisting from Nasdaq as a result of its accumulation used to be buying and selling beneath $1. However the proportion worth has recovered to related at $1.38

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US DOT Awards $100M in Recovery Act Funds to 43 Transit Projects to Reduce Energy Consumption and Greenhouse Gas Emissions

Green Car Congress

Greater Lafayette Public Transportation Corporation, Indiana: $2,180,000. Material is being financed and procured through the New York Power Authority. Delaware Transit Corporation, Delaware: $1,500,000. Ames Transit Agency, Iowa: $1,600,000.

Emissions 256
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BP to acquire unconventional US onshore assets from BHP for $10.5B; transforming US onshore oil & gas business

Green Car Congress

100% of the issued share capital of Petrohawk Energy Corporation—the wholly-owned subsidiary of BHP which holds the assets—for a total consideration of $10.5 BP intends to finance this deferred consideration through equity issued over the duration of the installments. billion, subject to customary adjustments.

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