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Brine-to-battery company EnergyX secures $450M funding agreement with Global Emerging Markets

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Lithium and battery technology company Energy Exploration Technologies announced a $450-million investment commitment from Global Emerging Markets (GEM). The proceeds from this capital investment will further the company’s commercialization efforts of its direct lithium extraction and refinery technologies.

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Benchmark: Saudi Arabia is building an EV battery supply chain

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Although the Saudi government has been investing into the EV sector since 2018, the midstream and upstream segments are still in their early stages, Benchmark noted. Rabigh Refining & Petrochemical Company will supply feedstock in the form of decant oil. Earlier post.) Novonix will own 40% of the JV, and TAQAT the remainder.

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Renewable fuels company Raven SR announces $20M strategic investment from Chevron, ITOCHU, Hyzon Motors and Ascent Hydrogen Fund

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a waste-to-fuels company, closed a $20-million strategic investment from Chevron USA, ITOCHU, Hyzon Motors and Ascent Hydrogen Fund. Raven SR plans to build modular waste-to-green hydrogen production units and renewable synthetic fuel facilities initially in California and then worldwide. Raven SR Inc., Earlier post.).

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ABI Research: 16B ride-hailing trips completed globally in 2017, 24B expected in 2018; 70% in Asia

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ABI forecasts that 24 billion completed trips by the end of 2018. The sheer size of the Asian ride-hailing market has prompted numerous companies, both local and foreign, to try and establish a foothold in the local markets. However, Uber still has a strong market share in India, the third-largest ride-hailing market globally.

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GM building new center for next-generation battery cell technology

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General Motors announced the Wallace Battery Cell Innovation Center, an all-new facility that will significantly expand the company's battery technology operations and accelerate development and commercialization of longer range, more affordable electric vehicle batteries.

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Hyundai Motor Group building new fuel cell system plant in China; first outside of Korea

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The investment advances the Group’s global hydrogen leadership and supports its push into China’s rapidly developing hydrogen industry. Hyundai Motor Group signed an investment contract with the government of Guangdong Province to establish an offshore fuel cell system production facility in Guangzhou, China.

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Mercedes-Benz to build electric vehicles in 6 plants on 3 continents; global battery network; EQC in 2019

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Mercedes-Benz is in the process of building out hubs for the production of electric vehicles and batteries around the globe. Markus Schäfer, Member of the Divisional Board of Mercedes-Benz Cars, Production and Supply Chain said that Mercedes-Benz will build its electric vehicles in six plants on three continents. Earlier post.).

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