article thumbnail

BloombergNEF reports 11% year-on-year rise in renewable energy financing in the first half of 2022, for a total of $226B

Green Car Congress

Wind project financing was up 16% from 1H 2021, at $84 billion. Both sectors have been challenged recently by rising input costs for key materials such as steel and polysilicon, as well as supply chain disruptions and rising financing costs. The 2Q figure, at $3.9 billion raised, is the lowest quarterly total since 2Q 2020.

Financing 243
article thumbnail

DOE awards $4M to carbon capture and storage projects selected as part of ACT

Green Car Congress

The US Department of Energy’s (DOE) Office of Fossil Energy (FE) announced $4 million in federal funding for national laboratories to collaborate with international partners on seven projects out of the 12 that were selected as a part of the Accelerating Carbon Capture and Storage Technologies (ACT) Initiative. million of which €31.5

Carbon 150
article thumbnail

IHS Markit: global commercial vehicle production to drop 22% in 2020 in wake of COVID-19

Green Car Congress

New financing has also been announced to eliminate high emissions vehicles in key regions which should give some support to boost to truck sales, all else being equal. For major truck producers in Japan and South Korea , most have been forced to suspend operations due to reported parts shortages, resulting in 8,000 units of lost production.

2020 191
article thumbnail

Protean Electric raises $70M to accelerate adoption of in-wheel drive systems for electrified vehicles in China

Green Car Congress

Existing investors Oak Investment Partners and GSR Ventures co-invested in Protean’s equity financing round. The direct-drive configuration reduces part count, complexity and cost, so there is no need to integrate traditional drivetrain components such as external gearing, transmissions, driveshafts, axles and differentials.

China 150
article thumbnail

Penske Seeking to Buy Saturn

Green Car Congress

If completed, the deal would save more than 350 dealerships and 13,000 jobs at Saturn and its retailers in the United States, and would preserve the Saturn brand. The proposed transaction is part of GM’s rebuilding efforts outlined in the viability plan that was submitted to the US government earlier this year. Earlier post.)

Saturn 150
article thumbnail

Drive Electric Submission Land Transport (Clean Car) Amendment Bill

Drive Electric

Given New Zealand’s reliance on personal light vehicles, accelerating the uptake of e-mobility is an essential part of reducing emissions from transport. By using these standards, we can better access vehicles manufactured in and for the United Kingdom, a far larger right-hand-drive EV market.

Clean 52
article thumbnail

Tech Leaders on 5G, Robots, and the Future of Work

Cars That Think

In October the organization surveyed 350 CIOs, CTOs, IT directors, and other technology leaders in Brazil, China, India, the United Kingdom, and the United States. In aviation, assembling and disassembling parts is a complex task. He is a robotics and automation expert at Salford University , in England.

Future 98