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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.).

Financing 225
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Pennsylvania DEP awards nearly $517,000 in clean diesel grants

Green Car Congress

The Pennsylvania Department of Environmental Protection (PA DEP) awarded $516,637 in clean diesel grants to four organizations. Recent monitoring indicates these counties’ particulate matter levels are meeting the standards, but continuous compliance must occur before EPA will grant an attainment designation.

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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

Transit agencies began submitting their proposals after the FTA announced rules for the Transit Investments for Greenhouse Gas and Energy Reduction (TIGGER) grant program as part of the Recovery Act last March. Since President Obama signed ARRA into law in February, grants totaling more than $7.2 The DOT is making $48.1

Emissions 256
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More details about California’s proposal requiring bidirectional charging capabilities for all EVs

Charged EVs

It turns an EV into a mobile battery that can be used to provide backup power to a home or business, and to provide services to the electrical grid, generating revenue for the vehicle owner and potentially offsetting a significant part of the purchase price of the vehicle. It’s also possible to do V2G through an AC port.

Charging 133
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One way or another, Fisker Automotive may soon be off the market

Green Car Congress

The purchase funds for Fisker would in theory go directly to the DOE since the government agency loaned the auto company a large sum of money before it stopped production more than a year ago. However, the stipulation is an issue that’s caused other buyers to pull out of purchasing the company.

Fisker 218
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Perspective: Regional Greenhouse Gas Cap-and-Trade Programs May be the Solution

Green Car Congress

It covers ten Northeastern and Mid-Atlantic states (Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont). If they don’t have enough allowances to cover their emissions they must purchase more or face a penalty. Northeastern Regional Greenhouse Gas Initiative (RGGI).

Gas 244