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Vancouver-based Ceylon Graphite granted industrial mining licence for M1 mining project in Sri Lanka

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announced the renewal of the Industrial Mining Licence for the Malsiripura, M1 mining project in Sri Lanka (known as Ceylon until 1972) from the Geological Survey and Mines Bureau (GSMB). The K1 mining project is fully permitted, and the company is in the process of deepening the shaft and has doubled capacity for hoisting graphite.

Sri Lanka 417
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Daimler to split into two pure-play companies: cars & vans, trucks & buses

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Daimler plans a fundamental change in its structure, splitting into two independent pure-play companies: Mercedes-Benz Cars & Vans, and Daimler Truck, which will be a spin-off the current Truck and Bus business. It represents the start of a profound reshaping of the company. This is a historic moment for Daimler.

Companies 497
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Pinnacle Engines appoints Asian Business Advisory Board; closes Series C financing

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Pinnacle Engines, developer of a highly efficient 4-stroke, spark-ignited (SI), opposed-piston, sleeve-valve architecture engine ( earlier post ), has appointed five industry leaders to its newly formed Asian Business Advisory Board. John was President-Ford India, Vice Chairman & EVP-Mazda Motor Company and EVP- Ford Asia Pacific & Africa.

Financing 291
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Ultracap company Ioxus closes $21M Series C round; IFC leads; focus on China

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Ioxus, a manufacturer of premium performance ultracapacitor technology for use in transportation, industrial and energy applications, completed its series C funding with receipt of $21 million from investors. The company plans to use the funds to expand its customer service, sales and manufacturing in Asia, with a focus on China.

China 240
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Fluorine-based battery company Contour Energy Systems finalizes Series C Funding Round with addition of new investor SBI Jefferies Asia Fund L.P.

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Contour Energy Systems, Inc, a spinoff of the collaboration between CalTech and CNRS focused on developing new fluorine-based battery chemistries, nanomaterials science and manufacturing processes for lithium-ion energy storage systems ( earlier post ), has finalized its Series C round of financing that now includes SBI Jefferies Asia Fund L.P.

Asia 186
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SGB cuts time to maturity with new hybrid Jatropha from 5 to 1-2 years; $11M Series C financing

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an agricultural biotechnology and seed company enabling the production of high quality, low-cost and sustainable plant oil, protein and biomass, announced success in its program to create hybrid Jatropha which has both high yield and rapid time to maturity.

Financing 210
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In-wheel electric drive company Protean Electric raises $40M; JV with Weifu

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In-wheel electric drive company Protean Electric announced the completion of a $40-million equity investment as the initial closing of its Series E funding round. The Series E financing proceeds will support Protean’s on-going business activities and help to establish a global licensing model covering all key markets.

Companies 170