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a manufacturer of electric-mobility solutions to the transportation sector ( earlier post ), closed a $35-million financing with Marathon Asset Management. The remaining $25 million will function as a revolving credit facility from which Workhorse may draw down as necessary to meet existing and future purchase orders.
CODA Automotive and Essex Credit Corporation, a subsidiary of Bank of the West, have reached a preliminary agreement to provide financing for customers of the 2011 CODA Sedan.
completed a financing for C$5 million (US$4.96 note in the aggregate principal amount of C$5 million and 500,000 common share purchase warrants. Each share purchase warrant is convertible into one common share of the corporation. Each share purchase warrant is convertible into one common share of the corporation.
FuelCell Energy intends to use the net proceeds from the offering for project development, project finance, working capital support and general corporate purposes. The terms of the equity transaction include a warrant giving NRG the right to purchase an additional 2.0 per annum for construction-period financing and 8.0%
million in Series C financing. The Series C financing follows a $19-million Series B round in 2009 and brings the total raised by Achates Power to nearly $90 million since its 2004 founding. Achates Power, Inc., the developer of a family of two-stroke compression-ignition opposed-piston engines ( earlier post ), has finalized $35.2
Pacific Energy Capital II, LLC, a non-utility subsidiary of PG&E Corporation, and SunRun Inc., a provider of home solar financing, announced a $100-million tax equity project financing agreement to fund SunRun’s installation of more than 3,500 new home solar installations across the nation. SunRun will manage the projects.
Exelon Corporation will provide equity financing for 21 megawatts (MW) of Bloom Energy solid oxide fuel cell (SOFC) projects at 75 commercial facilities in California, Connecticut, New Jersey and New York. Exelon Corporation is the US’ leading competitive energy provider, with 2013 revenues of approximately $24.9
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.)
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.).
a provider of cost-effective drone-integrated electric vehicles to the last-mile delivery sector, has entered into a note purchase agreement (NPA) under which it will sell $200 million aggregate principal amount of its 4.0% Workhorse Group Inc., Senior Secured Convertible Notes due 2024 to two institutional lenders.
In addition to new investors BlackRock and Sinobioway, existing investors also participated in this financing. These RIN credits are purchased by US refiners to comply with the RFS program. This new and significant financing will help accelerate our growth and further expand project development and implementation.
This figure includes investment in projects—such as renewables, storage, charging infrastructure, hydrogen production, nuclear, recycling and CCS—as well as end-user purchases of low-carbon energy devices, such as small-scale solar systems, heat pumps and zero-emission vehicles.
ALTe has pledged to develop an electric vehicle fleet purchasing system by which fleet customers can consolidate the entire electric vehicle decision-making process in one simple web-based interface.
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. Earlier post.) Chapter 7 for SIT.
a US-based, international developer of lithium iron magnesium phosphate batteries, entered into a common stock purchase agreement with Seaside 88, L.P., Under the terms of the agreement, Seaside has committed to purchase up to 16.9 Valence Technology, Inc., a private investment limited partnership.
TECO 2030 ASA is evaluating various financing alternatives for the new giga factory. The company is in talks with the Norwegian public environmental body ENOVA and other institutions to evaluate the financing options.
for electric vehicle financing. India’s leading non-banking finance company for electric vehicle financing. Akihiro Ueda, CEO, Terra Motors said, “This partnership between Pooja Finelease and Terra Motors will give access to a larger audience and will take care of our North, East and North-Eastern region financing.
The BMW investment was part of Lilac’s just-closed US$150-million Series B financing. New investors in the round in addition to BMW include SK Materials, Presidio Ventures (a Sumitomo Corporation Group Company), MCJ Collective, and Earthshot Ventures.
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.
Canada-based Northern Graphite Corporation has closed its previously announced acquisition of the producing Lac des Iles graphite mine (LDI) in Québec from a subsidiary of Imerys SA and the Okanjande graphite deposit/Okorusu processing plant in Namibia from a subsidiary of Imerys and its joint venture partner. Sprott invested CDN$3.75
Searle oversaw an internal purchasing probe during his final days at the company before leaving. Bloomberg , citing three people familiar with the matter, said Searle was relieved by Dinna Eskin, a Deputy General Counsel at Tesla, less than a month ago after the internal purchasing scandal took place.
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.)
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
The financing was led by a combination of new and existing shareholders. million callable common share purchase warrants, each exercisable into one common share at any time without conditions by Osum, at a price of $12.50 Canada-based Osum Oil Sands Corp. The placement will consist of 21.2 million common shares at $12.50
The Government of Canada’s recently announced a $500,000 repayable investment in the company, through Atlantic Canada Opportunities Agency’s (ACOA) Business Development Program (BDP), to support the purchase of special equipment to establish the plant. PwC CorporateFinance Inc. million repayable investment in the project.
Newmark Energy Solutions, LLC has formed strategic relationships with Newmark Knight Frank, UTC Power Corporation (UTC) and Austin Energy Partners Solutions, LLC (AEP) to market, deliver, maintain and warranty UTC fuel cells to commercial real estate markets across the United States.
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.
Darling International and a subsidiary of Valero Energy Corporation are taking initial steps towards the formation of a joint venture to build a facility capable of producing more than 10,000 barrels/day or (135 million gallons per year) of renewable diesel on a site adjacent to Valero’s St. Charles refinery near Norco, Louisiana.
Historically, campuses purchased other organizations’ carbon credits to help achieve carbon neutrality. Without such third-party financing of this type, most colleges and universities would not be able to capitalize on the more significant investments needed to bring down their carbon load on the atmosphere.
JPMorgan Chase has agreed to provide working capital financing for intermediate products owned by the refinery in the form of an asset-backed loan, subject to documentation. Capital for this investment will come from the Carlyle Equity Opportunity Fund and the Carlyle Energy Mezzanine Opportunities Fund.
Stationary Fuel Cells and Hybrid Transit Buses Incremental Costs: The purchase of diesel-electric hybrid transit buses and stationary fuel cells for use in the statewide bus system in Connecticut. Statewide Paratransit Bus Hybrid Program: Purchase 31 paratransit hybrid buses to replace 31 gas and diesel vehicles.
If finalized, LPO’s loan to the Rhyolite Ridge project would finance the on-site processing of lithium carbonate that could potentially support production of lithium for approximately 370,000 EVs each year. Earlier post.).
a gasification-based drop-in advanced biofuels company ( earlier post ), has agreed to purchase about 1,200 acres of land near Alexandria, Louisiana, for the planned construction and operation of its first production facility. Sundrop Fuels, Inc., Chesapeake invested $155 million in Sundrop Fuels last summer.
Springing for luxury items just isn’t in the cards for most of us, despite the lavish recompense* deigned upon us by our corporate overlords in Downtown Canada. Beyond that, they suggest making a down payment of at least 20 percent and financing the thing for no more than four years. note: the recompense isn’t actually lavish at all).
Battery swapping gives way to battery financing. Corporations are much better equipped to repurpose end-of-life EV batteries than individuals and will be able to sell into the growing market for grid energy storage. More companies are likely to follow the lead of Renault and lease the batteries separately, Pike suggests.
Eliminate state sales tax on vehicle purchase; Commit/fund government fleet purchases (200 vehicles). Provide incentives for vehicle purchasers (see above - $2,500/16 kWh vehicle) and charging equipment and installation (see above - up to $3,000/home; $30,000/other site with 10 charging ports). City and County Governments.
Niti Aayog gives proposal to RBI for electric vehicles purchase loans . For the faster adoption of electric vehicles in the country, the Reserve Bank of India is considering a proposal from the government’s policy think tank Niti Aayog to categorise loans to purchase electric vehicles under the priority sector lending (PSL) segment.
ChargePoint acquired ViriCiti for a total purchase price of approximately €75 million (US$88 million) in cash, subject to adjustments. IMPROVED CorporateFinance B.V. The ViriCiti team, customer accounts and technology will become part of ChargePoint’s operations. Goldman Sachs & Co.
In particular, Avis Budget expects significant cost reductions across the fleet life cycle (from procurement to operations and maintenance to disposition, as well as financing), in addition to savings from eliminating Zipcar’s public-company costs. The companies expect substantial synergies in fleet utilization. Source: Avis Budget.
relating to the purchase of 10,000 fuel cell vehicles, including buses and delivery trucks, all of which are expected to have Ballard’s leading PEM fuel cell technology inside. Broad-Ocean has now expanded this business to include fuel cell vehicles. of Ballard’s outstanding common shares following the transaction.
Under terms of the MoU, the identity of the purchaser and proposed financial terms of the agreement are not being released at this time. Citi acted as financial advisor to General Motors Corporation. billion bridge financing agreement with the German government.
The Orange Book is frequently used by prospective aircraft purchasers as a predictor of aircraft performance. Other GP7200 customers include Korean Air, Etihad Airways, Air Austral and International Lease FinanceCorporation (ILFC). Specific Fuel Consumption (SFC) improvement for the GP7200-powered aircraft.
Bosch and the Mitsubishi Corporation, with Blue Park Smart Energy (BPSE), are partnering to create Battery as a Service (BaaS) innovations. The main idea here is that fleet operators will no longer have to purchase the batteries; they will simply pay to use them.
Achieving this will require a minimum of 25% of new light-duty vehicles purchased in the US to be grid-enabled vehicles (GEV) by 2020. This is defined as the point at which grid-enabled vehicles represent 25 percent of new LDV purchases. Smith, Chairman, President & CEO, FedEx Corporation. Source: Electrification Roadmap.
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