article thumbnail

IG Metall warns that Krupp Mannesmann steel plant may fail due to lack of financing for conversion to climate-neutral steel production

Green Car Congress

IG Metall, Germany’s largest union as well as Europe’s largest industrial union, warns that at Hüttenwerke Krupp Mannesmann (HKM), the switch to climate-neutral steel production is may fail due to the lack of financing. This would be the end of the plant, IG Metall said. With a current production volume of 4.2

Financing 221
article thumbnail

PHEV conversion company Echo Automotive completes $3M financing, joins CALSTART

Green Car Congress

a developer of technologies enabling the conversion of existing fleet vehicles into plug-in hybrid electric vehicles, completed a $3-million financing with United Fleet Financing, LLC, through a private placement offering and mezzanine financing. The terms of this note include conversion features at $0.55

Financing 218
article thumbnail

Calysta completes $3M Series A financing; biological conversion of methane to fuels and chemicals

Green Car Congress

Calysta Energy completed a Series A financing round totaling $3 million. The financing was led by Pangaea Ventures Ltd., Calysta intends to use the Series A investment to advance development of biological routes to high value industrial chemicals and fuels based on methane, an advantaged feedstock from natural gas. Earlier post.).

Financing 210
article thumbnail

EcoDual partners with VFG to provide financing for dual-fuel natural gas conversions

Green Car Congress

EcoDual, LLC, a provider of diesel-to-natural-gas dual-fuel conversion systems for heavy duty diesel powered trucks has partnered with Vision Financial Group (VFG) to provide lease-to-own financing options for fleet owners seeking to convert to natural gas operation.

Financing 225
article thumbnail

Omnitek Engineering completes $5M placement; financing to facilitate diesel to natural gas truck engine conversion sales

Green Car Congress

Omnitek Engineering Corporation, a developer of natural gas engines and diesel-to-natural gas conversion systems, has entered into a definitive agreement with investors for a private placement of common stock and warrants to raise approximately $5.0 million in gross proceeds. Merriman Capital, Inc.

Financing 236
article thumbnail

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

Green Car Congress

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. The plant will be located at the site of the retired Sunbury coal-fired power plant near Shamokin Dam in Snyder County, Pennsylvania.

Coal 150
article thumbnail

DOE announces $15.5B package primarily focused on retooling existing factories for EVs

Green Car Congress

This includes making available $2 billion in grants and up to $10 billion in loans to support automotive manufacturing conversion projects that retain high-quality jobs in communities that currently host these manufacturing facilities. Leveraging New Loan Authority for Automotive Manufacturing Conversion Projects.