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Li-ion Startup Sakti3 Raises $7 Million in Series B Financing

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an Ann Arbor-based developer of next-generation lithium-ion batteries ( earlier post ), has completed a $7-million Series B round of financing. Sakti3 was founded in 2007 as a spin-out of the University of Michigan and has been supported to date by Khosla Ventures and the Michigan Economic Development Corporation. Sakti3, Inc.,

Financing 199
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Accelergy Receives Grant from Pennsylvania for Feasibility Study on Coal-Biomass-to-Liquids

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A $175,000 grant will be used for the site selection and analysis process for this facility. Following the site selection and facility design process, the Alliance will request a formal grant from the Commonwealth to construct a demonstration plant and produce its cleaner fuel on a larger scale. Earlier post.).

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A123 Systems 8K filing says substantial doubt about its ability to continue as a going concern; status of grants and incentives

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Although the Company’s intent is to improve its operating efficiencies and to obtain additional financing, there is no assurance that the Company will be able to obtain such financing on favorable terms, if at all, or to successfully further reduce costs in such a way that would continue to allow the Company to operate its business.

Grant 299
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Iveco Group acquires full control of Nikola Iveco Europe

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announced that, following the finalization of the definitive agreements with Nikola Corporation as per the terms sheet described on 9 May 2023, its subsidiary Iveco S.p.A. Iveco Group N.V.

Europe 395
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American Suzuki Motor receives bankruptcy court approval of up to $100M in Debtor-In-Possession (DIP) financing

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American Suzuki Motor Corporation (ASMC) has received court approval for Debtor-In-Possession (DIP) financing. As a result, the Company will be able to borrow up to $50 million for operations and up to $50 million for purchases of inventory from Suzuki Motor Corporation (SMC). Earlier post.) Earlier post.)

Suzuki 218
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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

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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.).

Financing 225
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Accelergy awarded $1.3M grant for pilot Coal-Biomass-to-Liquids plant in Pennsylvania; algae-based carbon capture

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Accelergy Corporation has received a $1.3-million million grant from the Commonwealth of Pennsylvania to move forward on the construction of a facility to demonstrate its integrated coal-biomass-to-liquids (CBTL) technology platform ( earlier post ) at Intertek PARC, located at the U-PARC facility in Pittsburgh. Earlier post.)