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Cummins invests in lithium-metal battery company Sion Power, multi-year development agreement

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has entered into an agreement with Sion Power Corporation ( earlier post ), a leading developer of high-energy rechargeable battery technology, to design and to supply battery cells based on their proprietary lithium-metal technology for commercial vehicle applications. Cummins Inc.

Power 316
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High-power battery company MOBIUS.energy secures $50M investment commitment from GEM

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MOBIUS will use the funds to scale-up battery module production to support electric aircraft customers through a subscription model including maintenance and salvage services. MOBIUS has issued warrants to GEM, exercisable upon public listing, to purchase up to 3% of the common stock of the company. —Eugene Choi, MOBIUS CEO.

Companies 243
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Fusion energy company TAE Technologies launches power management subsidiary TAE Power Solutions

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TAE Technologies , the world’s largest private fusion energy company, has spun-out a new subsidiary, TAE Power Solutions. TAE Power Solutions intends to deliver a novel technology to improve fundamentally the reliability, efficiency, longevity, and affordability of electric-powered products, from vehicles to renewable energy storage.

Fusion 250
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Umicore announces equity investment in solid-state battery company Solid Power

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Following the announcement by solid-state battery company Solid Power that it will become a publicly listed company through a special purpose acquisition company (SPAC), materials technology company Umicore announced that it holds a stake in Solid Power’s pre-SPAC transaction.

Companies 207
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Austrian bus company signs framework agreement for up to 106 Solaris battery-electric and hydrogen buses

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Austrian bus company Österreichische Postbus AG (ÖBB Postbus) has signed another framework agreement with Solaris for the delivery of up to 106 battery-electric and hydrogen buses that would be deployed throughout Austria. ÖBB Postbus is the largest bus company in Austria and a leader in regional public bus transport.

Hydrogen 458
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Stadler wins contracts for up to 120 battery-powered trains, 25 hydrogen trains

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Austrian Federal Railways (ÖBB) has awarded Stadler a framework agreement for up to 120 battery-powered trains. The signing of the framework agreement and the initial order for 16 FLIRT battery is expected to take place in autumn 2023. The vehicle has an operating range of around 100 kilometers.

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Solid-state battery company Quantumscape to list on NYSE; $3.3B valuation

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QuantumScape Corporation, a developer of next generation solid-state lithium-metal batteries for use in electric vehicles, and Kensington Capital Acquisition Corp., a special purpose acquisition company (SPAC), announced a definitive agreement for a business combination that would result in QuantumScape becoming a publicly listed company.

Companies 468