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Porsche and UP.Labs to build startups tailored for Porsche’s business

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We want to strengthen our existing, broad-based startup ecosystem with an external growth engine. —Lutz Meschke, Deputy Chairman of the Executive Board of Porsche AG and Member of the Executive Board for Finance and IT. Development is already underway for the first two startups, to be founded before the end of 2022.

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Panda Power finances conversion of retired coal plant to natural gas; one of largest power conversion projects in US

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Panda Power Funds has financed the 1,124 megawatt Panda “Hummel Station” power plant—one of the largest coal-to-natural gas power conversion projects in the United States. to build the Hummel facility on a turn-key basis. The Term Loan B debt received an initial credit rating of BB- and a “1” recovery rating by Standard & Poor’s.

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Joby Aviation secures $100M in Series B for electric VTOL; Intel, EDBI, JetBlue and Toyota

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Venture-backed startup Joby Aviation has secured $100 million in Series B financing to take its all-electric vertical take-off and landing (eVTOL) passenger aircraft into pre-production and certification. We envision a future where commuting by eVTOL is a safer, faster, and cost-competitive alternative to ground transportation.

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Pinto Energy to build 2,800 bpd small-scale GTL plant in Ashtabula; Velocys microchannel technology

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Pinto Energy LLC (Pinto), a developer of smaller scale Gas-to-Liquids (GTL) facilities, will build a 2,800 barrel per day (bpd) GTL plant at Pinto’s 80-acre industrial site to the east of Ashtabula, Ohio. Pinto has chosen Ventech Engineers International LLC (Ventech) as the project’s EPC Contractor.

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Honda to provide $13.8M to FirstElement Fuel to support build out of California hydrogen refueling infrastructure

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million in financial assistance to FirstElement Fuel to build additional hydrogen refueling stations around the state. Additional state grants, combined with the Honda financing, could enable FirstElement to add at least 12 stations to its California hydrogen network.

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President’s 2016 Budget requests $29.9B for DOE; 9% boost over FY 2015 enacted; $793M (2.7%) for sustainable transportation

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President Barack Obama’s 2016 Budget requests $29.9 The FY 2016 DOE Budget Request represents a 9% increase ($2.5 billion, the FY 2016 Budget requests $4.8 billion, the FY 2016 Budget requests $4.8 billion, the FY 2016 Budget Request provides $5.34 billion for the US Department of Energy (DOE). Within the $10.7

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GM to launch 18 models in China in 2017 for growth; half to be SUVs or MPVs; more new energy vehicles

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The products are expected to build on GM’s 2016 sales record of 3.87 The company announced earlier that it will roll out more than 60 new and refreshed vehicles in China from 2016 through 2020, including 13 models launched last year. million vehicles. This year, GM will bring to the market more new energy vehicles.

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