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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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Velocys establishes strategic alliance with TRI for gasification systems for BTL plants

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The feedstock flexibility allows the system to take advantage of the most economically available feedstock in a given region and in a given season (i.e. lowest-cost, most readily-available waste biomass). The company expects the terms of the MoU to be reflected in legally-binding documentation within the coming months.

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Grant Thornton LLP Warns of Potential Collapse of Automotive Supply Chain

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But the most immediate and pervasive risk to the economy is a wholesale collapse of the automotive supply base, Grant Thornton LLP partner Laura Marcero told the Automotive Press Association in Detroit. Grant Thornton LLP is the US member firm of Grant Thornton International Ltd, one of the six global audit, tax and advisory organizations.

Grant 150
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UK unveils new plan to cut NO2; sale of new conventional gasoline and diesel cars to end by 2040; focus on local action

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Despite this, an analysis of more than 1,800 major roads show that a small number of these—81 or 4%—are due to breach legal pollution limits for NO 2 , with 33 of these outside of London. The UK assesses air quality, as well as legal compliance with these obligations, via a combination of monitoring data and modeling.

Gasoline 150
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UC Davis ITS study suggests hastening consumer adoption of plug-ins will require innovation on the sales side

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Presently, 19 different models of PEVs from 10 different manufacturers are available for purchase in California, but only three of these models are available nationally. These expose dealers to legal liability for misstatements or for communicating misleading information to customers. —Cahill et al.

Davis 290
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GM Files Voluntary Chapter 11; Agreements with US Treasury and Canada; New GM Expected in 60-90 Days

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court filings or court-supervised process, and these filings have no direct legal impact on GM’s plans and operations outside the US. Warrants granted to the New VEBA to acquire newly issued shares in the New GM equal to 2.5% Cravath, Swaine, & Moore LLP is providing legal advice to the GM Board of Directors. Earlier post.)

GM 150
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Obama Announces Steps to Boost Biofuels, Clean Coal; RFS2, BCAP, BIWG and Carbon Capture and Storage Task Force

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Second, the US Department of Agriculture proposed a rule on the Biomass Crop Assistance Program (BCAP) that would provide financing to increase the conversion of biomass to bioenergy. USDA provides grants and loans and other financial support to help biofuels and renewable energy commercialization. per gallon.

Obama 218