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Much of US road infrastructure is financed by taxing gasoline. Energy Institute alum, Chris Knittel , along with Gib Metcalf and Shereein Saraf , have a new working paper , which takes a swing at one of the less thrilling, but wildly important, topics in public finance: how we pay for roads when no one’s buying gas anymore.
a manufacturer of electric-mobility solutions to the transportation sector ( earlier post ), closed a $35-million financing with Marathon Asset Management. Marathon, based in New York, NY, is an opportunistic global credit event-driven manager with approximately $15 billion in assets under management. Workhorse Group Inc.,
Global energy investment stabilized in 2018, ending three consecutive years of decline, as capital spending on oil, gas and coal supply bounced back while investment stalled for energy efficiency and renewables, according to the International Energy Agency’s latest annual review. Global energy investment totalled more than US$1.8
Global renewable energy investment increased between 2013 and 2018, reaching its peak at US$351 billion in 2017, according to a new report by the International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI). Renewable energy investment slightly declined in 2018, with modest growth through 2019.
billion in 17 deals compared to the $543 million in 30 deals in 1H 2018, according a new report from Mercom Capital Group. Announced debt and public market financing activity in the first half of 2019 ($547 million in five deals) was 275% higher compared to the first half of 2018 when $146 million was raised in six deals.
Mercom Capital Group, llc, a global clean energy research and communications firm, released its report on funding and mergers and acquisitions (M&A) activity for the Battery Storage, Smart Grid, and Energy Efficiency sectors for 2019. billion raised in 2018. billion raised in 2018. billion in 2018. billion in 2018.
New investment in wind, solar, and other clean energy projects in developing nations dropped sharply in 2018, largely due to a slowdown in China. The findings suggest that developing nations are moving toward cleaner power but not nearly fast enough to limit global CO 2 emissions. thousand terawatt-hours in 2018, up from 6.4
Farasis Energy, a global developer and manufacturer of lithium-ion cells, modules and large battery systems, recently completed C-round financing exceeding 1 Billion US dollars. The compay will use the capital raised to accelerate the expansion of its global automotive battery manufacturing infrastructure.
Global VC funding (venture capital, private equity, and corporate venture capital) for Battery Storage, Smart Grid, and Efficiency companies in the first 9 months (9M) of 2018 was 8% higher at more than $1.3 Total corporate funding (including venture capital funding, public market, and debt financing) in 9M 2018 was down with $3.3
Total corporate funding (including venture capital funding, public market, and debt financing) in 1H 2018 was down with $2.4 In Q2 2018, VC funding for Battery Storage, Smart Grid, and Efficiency companies decreased to $367 million in 27 deals compared to $472 million in 23 deals in Q1 2018. Battery Storage.
The START sustainability label is now available for aluminum purchased from Rio Tinto’s managed operations globally. It has helped to pioneer responsible production standards for the global industry as a founding member of the Aluminum Stewardship Initiative (ASI), becoming the first producer to offer ASI Aluminum in 2018.
The report uses the global standard developed by the International Union for the Conservation of Nature (IUCN) for nature-based solutions. —“State of Finance for Nature”. The report calls for coupling investments in restoration action with financing conservation measures. A total investment of $8.1
Among the transportation-related elements of US President Barack Obama’s new climate action plan, which he is outlining today in a speech at Georgetown University, is the development of new fuel economy standards for heavy-duty vehicles post-2018. Earlier post.). Since 1990, methane emissions in the United States have decreased by 8%.
The partnership is part of Korea’s Ministry of Environment’s project to install hydrogen refueling stations and subsidize privately financed infrastructure projects. The company first introduced its fuel cell electric buses for daily operation during the PyeongChang 2018 Olympic Winter Games.
Global clean energy investment was $67.8 billion in the third quarter of 2018, down 6% from the same period last year, according to the latest Clean Energy Investment Trends report from research company Bloomberg NEF (BNEF). billion in the first nine months of 2018, making this year certain to be the strongest since at least 2011.
The US Department of Energy (DOE) released its five-year 2014-2018 Strategic Plan. Leverage increased private sector financing for deployment of “all of the above” energy technologies. Contribute to international efforts to address global climate change.
We will enhance our global competitiveness in lithium and other mineral resources and contribute to the development of domestic industries, including the secondary battery sector, by leading the localization of materials. Earlier post.) The subsequent production of lithium hydroxide will take place in South Korea.
Operation of the lithium plant and financing will be 100% carried out by POSCO Argentina, a subsidiary of POSCO Holdings. Construction of the brine lithium plant is to be completed in the first half of 2024, with annual production of 25,000 tons of lithium hydroxide. The total investment cost is about US$830 million (about KRW 0.95
Global Bioenergies, a developer of one-step fermentation processes for the direct and cost-efficient transformation of renewable resources into light olefins, and Cristal Union, the 4 th largest European beet producer, have formed IBN-One, a joint venture to build and operate the first plant in France converting renewable resources into isobutene.
Hercules Electric Vehicles—a Detroit-based startup—is opening a $20-million Series A investment round managed by CMD Global Partners, a boutique investment bank. Hercules is developing an all-electric sport pickup truck, the Hercules Alpha, which will be available in late 2022.
ABB was already commissioned in 2018 as technology partner to deliver 340 high-power chargers to IONITY and was the first to market in Europe with 350 kW chargers featuring liquid cooled cables. To finance the necessary chargers, the analysis estimates Europe needs €20 billion over the next 11 years, or €1.8
billion (US$106 billion) in new models, innovative technologies and its global presence in its Automotive Division over the coming five years. billion (US$80 billion), on a level with the planning approved in the previous year for the period from 2014 to 2018. These investments will be financed from the joint ventures’ own funds.
Groupe Renault also has a well-established and profitable financing business (RCI Banque). FCA said that the benefits of the proposed transaction are not predicated on plant closures, but would be achieved through more capital efficient investment in common global vehicle platforms, architectures, powertrains and technologies.
IHS Markit is forecasting that global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 will be down 22% (more than 650,000 units) to 2.6 These forecasts are informed by the latest IHS Markit global economic forecast updates, which reflect a 3.0% decline in global real GDP in 2020.
While some cathode manufacturers, battery makers, and even auto OEMs, closed or tried to close several lithium supply deals in 2017, cobalt- and nickel-related transactions seem to be taking over in 2018, perhaps with the realization that future cobalt and nickel supply is not as secure as lithium and graphite. Earlier post.)
decrease from the $472 million raised in Q1 2018, according to a new report from Mercom Capital Group, llc, a global clean energy communications and consulting firm. In a year-over-year (YoY) comparison, $299 million was raised in 12 deals in Q1 2018. There were no debt and public market financing deals announced in Q1 2018.
This fully privately financed project seeks to pilot an approach to address challenges in artisanal mining. This project also contributes to the goals of global initiatives, such as the Global Battery Alliance (GBA), to foster sustainable supply chains.
The technology has been vetted and validated, technically and financially, by leading global institutions including the US Export-Import Bank, Barclays and Deutsche Bank, and Shell New Energies’ gasification experts. Waste is a global problem, clogging waterways, contaminating oceans, packing landfills and polluting skies.
Bugatti is contributing a tradition-rich brand, iconic products, a loyal customer base and a global dealer organisation to the joint venture. We already purchased the first shares in Rimac in 2018 and have successively increased our shareholding since then. —Lutz Meschke, Member of the Executive Board for Finance.
Key elements of the initial agreement were a project to develop jointly a common B- and C-segment global platform and to create a joint R&D center based in Shanghai dedicated to developing products and technologies for fast-growing Asian markets. PSA Peugeot Citroën and Dongfeng Group (DFG) entered their strategic partnership in March 2014.
The electrification of road transport will move into top gear in the second half of the 2020s, due to tumbling battery costs and larger-scale manufacturing, with sales of electric cars surging to 28%, and those of electric buses to 84%, of their respective global markets by 2030. Annual global light duty vehicle sales.
This builds on the technology development pathway that MAN ES presented at the NH3 Energy+ Topical Conference at Pittsburgh in October 2018. In January 2019, MAN Energy announced it was developing an ammonia-fueled engine. The €5-million (USD$5.7-million)
Porsche made its first investment in Rimac in 2018 and has successively increased its interest. We were already convinced of the company’s potential in 2018 and are pleased that our commitment allowed us to contribute to its progress and current success. The new funding round is being led by Softbank Vision Fund 2.
Mercedes-Benz AG and Aston Martin Lagonda Global Holdings plc announced a new strategic technology agreement and an enhanced partnership. Following Aston Martin’s IPO in 2018 and various further financing rounds, Mercedes-Benz AG now owns a 2.6% In return, Mercedes-Benz AG received an equity participation of 5% in Aston Martin.
By 2030, bp aims to nearly double earnings from its global convenience and mobility businesses—increasing from around $5 billion in 2019—while delivering returns in the range of 15-20%. During this time, bp plans to grow its global network of EV charging points from around 11,000 today to more than 70,000.
BP is taking delivery of six new, state-of-the-art liquefied natural gas (LNG) tankers to support its expanding global LNG portfolio, and to respond to growing demand for lower-carbon energy sources around the world. BP also participates in LNG projects in Australia, UAE, Indonesia, Trinidad and Angola.
Although the initial contract value of the feasibility study is relatively small, the project has the potential to be one of the largest of its kind globally, with total hydrogen electrolysis capacity of up to 300MW under consideration, to be used to supply both domestic and international export demand. and G&S Budd Consulting Ltd.
billion) in 2017 (2018 full year results to be released on 28 February), is a leading manufacturer of hydraulic systems, drives, motors, and components for the automotive, aerospace, HVAC, and energy industries. The transaction will be funded with Danfoss’ cash on hand and is not subject to any financing condition. billion (US$6.6
The trading agreement includes the provision of finance by Trafigura to fund the creation of strictly controlled artisanal mining zones, the installation of ore purchasing stations and costs related to the transparent and traceable delivery of cobalt hydroxide to Trafigura on an export cleared basis.
The ratio of investments in property, plant and equipment (capex) to sales revenue will remain at a competitive level of between six and seven percent in the period from 2014 to 2018. At the same time, we are also stepping up our investments in the markets outside Europe so as to further increase our global presence and capability.
The global maritime transport industry has submitted a proposal to the UN IMO to form the world’s first collaborative shipping R&D program to help eliminate CO 2 emissions from international shipping. The proposal includes core funding from shipping companies across the world of about US$5 billion over a 10-year period.
Gevo has entered into a long-term agreement to supply its renewable alcohol-to-jet fuel (ATJ) to Avfuel Corporation, effective 1 July 2018. Avfuel is a leading global supplier of aviation fuel and services to all industry consumer groups, servicing more than 3,000 locations worldwide.
Reinforcing PSA Peugeot Citroën’s competitive positioning in Europe, in particular through accelerating PSA Peugeot Citroën’s development via the financing of a program of strategic investments and strengthening its balance sheet and liquidity. billion by 2018, shared equally by the two partners. Capital increase.
The first pilot projects of Car eWallet are expected to be launched as early as the second half of 2018. In an initial financing phase, ZF will equip the start-up with seed capital; for ongoing funding, the start-up will advertise for investors. ZF has now outsourced all activities for the development and marketing of Car eWallet.
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