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Toshiba splitting into three companies; first such spin-off scheme for a Japanese company of this size

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Toshiba Corporation intends to split itself into three standalone companies: Infrastructure Service Co. consisting of Toshiba’s Energy Systems & Solutions, Infrastructure Systems & Solutions, Building Solutions, Digital Solutions and Battery businesses; Device Co. New structure: overview of three companies.

Companies 321
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Sumitomo Corporation of Americas makes strategic investment in hydrogen fuel provider OneH2

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Sumitomo Corporation of Americas (SCOA), the largest subsidiary of Sumitomo Corporation, one of the world’s largest traders of goods and services, has invested in OneH2, a hydrogen fuel company headquartered in Longview, North Carolina. Their solution is both mobile and scalable.

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Hanwha and LG Energy to build battery production in US, targeting ESS and UAM

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Hanwha Group and LG Energy Solution (LGES) will invest in building battery production facilities in the United States. The joint investment will pave the way for Hanwha to lead the rapidly-growing energy storage market and future Urban Air Mobility business. They include enclosure, heat management and other balance of system.

Building 199
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Corporate EV Alliance calls for US standards ensuring interoperable chargers

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As the letter notes, such standards will be critical to accelerate a rapid transition to electric vehicles, and will be particularly important for companies that operate large fleets. billion to building out a national network of electric vehicle chargers. — Corporate EV Alliance letter.

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Unifrax to build large-scale silicon fiber anode manufacturing line

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Unifrax, a global manufacturer of high-performance specialty materials, plans to build its first large-scale SiFAB (silicon fiber anode material) manufacturing line at its north central Indiana facility. The Indiana plant will be the first to begin building SiFAB long-term manufacturing capacity.

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TEPCO and Toyota develop stationary storage battery system using EV batteries

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Tokyo Electric Power Company Holdings, Inc. TEPCO HD) and Toyota Motor Corporation (Toyota) have developed a stationary storage battery system (1 MW output, 3 MWh capacity) that combines TEPCO’s operating technology and safety standards for stationary storage batteries and Toyota’s system technology for electrified vehicle storage batteries.

Toyota 416
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XL Fleet going public via merger with SPAC Pivotal Investment Corporation II; expanding fleet portfolio to all-electric solutions

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XL Fleet and Pivotal Investment Corporation II, a publicly traded special purpose acquisition company (SPAC), have recently entered into a definitive merger agreement. SPACs, which raise money through an IPO for the purpose of acquiring an existing company, have existed for decades, but have surged recently.

Fleet 448