New report showcases innovative finance tools to electrify truck, bus fleets; TCE Toolkit

Green Car Congress

Broader collaboration among key stakeholders and a new generation of finance solutions will be needed to electrify trucks and buses at scale by 2050, according to a report released today by Environmental Defense Fund (EDF), MJ Bradley and Vivid Economics. —“Financing the Transition”.

2020 212

Omnitek Engineering completes $5M placement; financing to facilitate diesel to natural gas truck engine conversion sales

Green Car Congress

Omnitek Engineering Corporation, a developer of natural gas engines and diesel-to-natural gas conversion systems, has entered into a definitive agreement with investors for a private placement of common stock and warrants to raise approximately $5.0 Under the terms of the financing, the company will issue shares of common stock at a price of $2.12

2012 207

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Algenol closes on additional $25M internal equity financing

Green Car Congress

The algal bio-oil can be used to produce biodiesel, renewable diesel, or other bio-oil-derived products. Algenol has recently commenced initial operations of a pilot commercial module at its Florida development campus, which builds on the successful launch of a demonstration project in India. BioFields’ most recent investment builds atop previous commitments to Algenol that began in 2007.

2015 183

UK accelerates end of sale of new gasoline and diesel cars to 2030, hybrids to 2035

Green Car Congress

UK Prime Minister Boris Johnson confirmed that the government will accelerate the ban on the sale of new gasoline and diesel vehicles, bringing it forward by ten years to 2030, as part of a “Green Industrial Revolution.” The government will also launch a consultation on the phase-out of new diesel heavy-duty trucks to put the UK in the vanguard of zero-emission freight. Diesel Electric (Battery) Europe Hydrogen Market Background Policy

2020 253

Audi partner Joule announces its CO2-recycled ethanol meets US and Euro specs; $40M financing

Green Car Congress

Audi is also supporting Joule’s hydrocarbon product, which was previously tested and shown to meet ASTM specifications in diesel blends of up to 50%. New financing. Joule also announced the closing of $40 million in private equity and venture debt financing, supporting the company’s growth towards commercialization. This will lead to the longer-term build-out of a 1,000-acre plant to begin in 2017.

2015 195

Nornickel, Rosatom and FESRC to design and build LNG-icebreaker to escort Nornickel ships along Northern Sea Route

Green Car Congress

The parties will form a working group to develop terms of reference for the LNG icebreaker design and construction, select a shipyard, and consider financing options.

Design 195

Report from the REFF-Wall Street; Themes in Renewable Energy Finance

Green Car Congress

Green Car Congress attended the Renewable Energy Finance Forum - Wall Street (REFF-Wall Street) conference (23-24 June) sponsored by Euromoney Energy Events and the American Council on Renewable Energy (ACORE). Renewables account for approximately 10-15% of the global energy infrastructure investment and according to New Energy Finance renewables have been hit hard by the global recession with a 47% in Q1 2009 vs. Q1 2008 ($13.3 by Bill Cooke.

Zhongding Power to invest more than $200M to build EcoMotors opoc plant in China

Green Car Congress

One of the largest automotive component conglomerates in China, Zhongding will finance and construct the first opoc plant in the Anhui Province. The opoc engine technology can deliver the same power level as conventional engines at half the size, a lower cost, and lower emissions, with the potential for 20-50% better fuel economy compared to a advanced, conventional turbo-diesel engine. China Diesel Engines Fuel Efficiency

2013 221

German OEMs to upgrade emissions control on 5.3M Euro 5 and 6 diesels, contribute to €500M Sustainable Mobility fund

Green Car Congress

million currently approved Euro 5 and 6 diesels in the country, according to the outcome of the “National Diesel Forum” held in Berlin today between the automotive industry and the German Federal and state governments. The Federal and state governments also expect the manufacturers to use self-financed competitive measures to provide incentives for the change of pre-Euro-5 diesel vehicles to vehicles with the latest exhaust gas aftertreatment or electric vehicles.

2017 150

Technip, EGPC and ASORC agreement for $1.5B modernization of Egypt’s Assiut Refinery; maximizing diesel

Green Car Congress

The investment aims to maximize diesel production, and will introduce the most modern refinery technologies in Upper Egypt, satisfying the growing local demand for petroleum products. According to the agreement, Technip will now start activities for the project, as well as providing support to ensure project financing. The Italy-based SACE insurance and finance group is ready to evaluate a possible intervention to support the project.

Egypt 188

BIOX to build 100M liter biodiesel production facility at New York Harbor

Green Car Congress

The selection of this site is consistent with BIOX’s strategy to locate facilities adjacent to large scale petroleum storage and diesel distribution infrastructure as well as users of petroleum diesel and blenders of biodiesel in order to minimize transportation costs to them. BIOX believes that its current financial resources combined with its future cash flow from operations and debt financing should be sufficient to enable it to construct and commission the second BIOX facility.

2012 214

AMP Americas in deal with two national dairy cooperatives to build 7 CNG fueling stations, bring in more Class 8 CNG trucks

Green Car Congress

AMP Americas signed a deal with Dairy Farmers of America (DFA) and Select Milk Producers, both national dairy cooperatives, to convert a portion of their diesel needs to CNG by working with haulers to convert their fleets to CNG-powered trucks. Under the agreement, AMP-Trillium, the joint venture between AMP Americas and Trillium CNG, will build seven public fueling stations between August 2013 and early 2014 and lease new CNG trucks that will travel more than 13.2

2013 207

Small-scale GTL company Velocys targeting biomass to diesel and jet for US market

Green Car Congress

Velocys plc, a provider of technology for smaller scale gas-to-liquids (GTL), is planning a new strategy under which it will focus on building plants that convert woody biomass to high-specification renewable diesel and jet fuel for the US market.

2017 150

Green Energy Oilfield Services building fleet with 60 Peterbilt LNG trucks

Green Car Congress

a portfolio company of Lone Star Investment Advisors, is building a fleet of 60 Peterbilt Model 388 LNG (liquefied natural gas) trucks. Because the trucks are LNG-powered, we will not bill a diesel surcharge, allowing us to pass on an estimated $5 million in savings annually to XTO Energy. Rush Truck Financing helped secure the financing for the 60-truck deal. Green Energy Oilfield Services, LLC.,

New York City Council passes bill mandating all city school buses be electric by 2035

Green Car Congress

According to the Fiscal Impact Statement prepared by the Finance Division of the City Council, there are approximately 10,700 school buses City-wide, of which the City manages approximately 960 in partnership with the NYC School Bus Umbrella Corporation (NYCSBUS). Of the 960 currently managed by the City, 885 would still be need to be converted from diesel to electric as the City had previously committed to converting 75 school buses.

CelluFuel raises $5M to begin demo plant for renewable diesel from biomass

Green Car Congress

has completed a $5-million capital raise to begin construction of its demonstration-scale plant for the production of synthetic, renewable diesel fuel from woody biomass using licensed technology. million liters (343,000 gallons US) of diesel per year. It produces a renewable diesel that has the potential to meet ASTM standards (ASTM D975 & D396). PwC Corporate Finance Inc. Canada-based start-up CelluFuel Inc.

2014 215

Clean Energy to build new CNG stations for multiple transit agencies and large school district; agreements with trucking, refuse and others

Green Car Congress

NICE has awarded Clean Energy the contract to design, build and operate and maintain a new CNG station that will, upon completion, replace its existing Mitchel Field station, and operate and maintain the existing CNG stations. to build a fast-fill CNG station at a new bus depot being constructed for ART, which will initially deploy 25 new CNG transit buses that are expected to consume 225,000 DGEs (diesel gallon equivalents) of CNG a year. Clean Energy Fuels Corp.

2015 177

US Fuels acquires coal-to-diesel IP for scalable plants near mine sites

Green Car Congress

Startup US Fuel Corporation (USF), which plans to design, build, own and operate scalable facilities near coal mine sites to convert coal into synthetic fuels, will acquire coal-to-diesel intellectual property (IP) that USF co-developed with an executive team consisting of Paul Adams and Steve Luck. The plant will be designed to process 148 tons of coal per day to produce approximately 8,500 gallons of high grade, low-sulfur diesel.

2012 200

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

Green Car Congress

Among the many policy and funding details in the UK Plan for Tackling Roadside Nitrogen Dioxide Concentrations , produced by Defra and the Department for Transport is the cessation of the sale of all new conventional gasoline and diesel cars by 2040. Unlike greenhouse gases, the risk from NO 2 is focused in particular places: it is the build-up of pollution in a particular area that increases the concentration in the air and the associated risks.

2017 150

Darling International and Valero Considering Forming a Joint Venture for Renewable Diesel

Green Car Congress

Darling International and a subsidiary of Valero Energy Corporation are taking initial steps towards the formation of a joint venture to build a facility capable of producing more than 10,000 barrels/day or (135 million gallons per year) of renewable diesel on a site adjacent to Valero’s St. billion of debt financing guarantees available for projects that employ innovative energy efficiency, renewable energy and advanced transmission and distribution technologies.

2009 183

Electrification Coalition launches online EV Policy Showroom

Green Car Congress

The Showroom includes the State EV Policy Dashboard; EV Roadmap Roundup; EV Funding and Financing Guide; EV Tools and Calculators Clearinghouse; AchiEVe Toolkit; Freight Electrification Report; and ZEV State Scorecard.

XL Fleet and eNow partner to electrify refrigerated trailers

Green Car Congress

Approximately 50,000 new diesel-powered refrigerated trailers are sold annually in the US., XL Fleet and eNow are collaborating on the design and development of the system that will power eTRUs, as a replacement for conventional diesel-powered systems. XL Fleet Corp.

Fleet 238

CARB approves $1.5B investment in clean cars, trucks, mobility options for FY 2021-22

Green Car Congress

This funding for fiscal year 2021-2022 marks the first installment in the three-year $3.9-billion budget that builds on programs to support zero-emission vehicles and their infrastructure over the past decade. This funding will be used for incentives, outreach, technical assistance and capacity building.

Clean 264

AlphaStruxure and Montgomery County, Maryland, announce integrated microgrid and electric bus charging infrastructure project; EaaS

Green Car Congress

AlphaStruxure will design, build, finance, own and operate the project to enable Ride On’s growing electric bus fleet. Rather than buying the microgrid and charging infrastructure outright, the County partnered with AlphaStruxure, who builds, owns, operates and maintains the system.

Proterra launches Energy Fleet Solutions

Green Car Congress

Proterra launched Proterra Energy fleet solutions , a full suite of options that enable turnkey delivery of a complete energy ecosystem for heavy-duty electric fleets, including design, build, financing, operations, maintenance and energy optimization. In addition to planning, Proterra offers turnkey charging infrastructure installation for fleet depots and charging yards, including management of the entire build process from design to implementation.

2019 188

Haldor Topsoe and Aquamarine enter MoU for green ammonia facility based on SOEC electrolysis

Green Car Congress

With the SOEC technology and decades of experience as a world-leading technology provider within ammonia, methanol, gasoline, jet-fuel, diesel, and hydrogen, Topsoe is one of the few companies that can deliver insights, technology and catalysts along the entire value chain for next-generation fuels and chemicals. We expect to be soon announcing other partners who will be joining the effort, as we move forward to build HydrGEN into a global green hydrogen products leader.

California Governor signs two bills to strengthen emission standard for trucks; Executive Order leverages $700B portfolio to strengthen climate resiliency

Green Car Congress

Medium and heavy-duty diesel trucks make up only four percent of the 28.2 The Governor’s executive order directs the Department of Finance to create a Climate Investment Framework to measure and manage climate risk across the state’s investment portfolio, with the goal of driving investment toward carbon-neutral and climate resilient technologies. California Governor Gavin Newsom signed two bills to strengthen emission standards for trucks, semis and other high-pollution vehicles.

2019 177

SMART, DDOT become Proterra’s 100th electric bus customer

Green Car Congress

The Proterra electric buses are the first electric buses for both organizations and the Proterra vehicles will replace aging diesel buses. In addition to the charging hardware, Proterra offers a full suite of options to enable turn-key delivery of a complete energy ecosystem for heavy-duty electric fleets including design, build, financing, operations, maintenance and energy optimization with Proterra Energy fleet solutions.

2019 197

Navistar to take stake in Brazilian bus builder Neobus; to partner on fully integrated commercial buses for the Americas

Green Car Congress

Navistar intends to leverage the bus body building expertise of Neobus and Navistar’s strengths in powertrain and chassis development. Our investment in Neobus, one of the most respected Brazilian bus body manufacturers, allows us to leverage our experience in building integrated buses for the US and Canada market with the bus body building expertise of Neobus. The company also provides truck and diesel engine service parts. Another affiliate offers financing services.

2012 195

Palermo school buses go electric with funding and 50% lower electricity rate from AMPLY Power

Green Car Congress

The zero-emission commitment from the school significantly lowers operating and fuel costs for the district to 50% of what it paid previously when charging its electric buses, as well as reducing the exposure of students and the local community to diesel particulate pollution.

Power 283

CompactGTL announces 3,000 bpd commercial small-scale GTL project in Kazakhstan

Green Car Congress

CompactGTL will build a commercially deployed small-scale gas-to-liquids (GTL) plant in Kazakhstan. Up to 820,000 cubic meteres of associated gas that might otherwise be wasted will be fed through the plant every day to produce approximately 3,000 bpd of synthetic diesel. CompactGTL, together with investors from Kazakhstan, have agreed to finance, design and build the up to 3,000 bpd GTL plant, using CompactGTL’s technology and plant design.

GE Capital and Clean Energy form strategic alliance to accelerate adoption of natural gas in trucking industry

Green Car Congress

GE Capital’s Transportation Finance business and Clean Energy Fuels Corp., the largest provider of natural gas fuel for transportation in North America, have entered into a strategic alliance to accelerate the conversion of heavy-duty trucking fleets from diesel to cleaner-burning, less-expensive natural gas. Clean Energy will then help offset the monthly cost of newly-acquired NGVs to make it consistent with the cost of a diesel truck, if the customer makes a fuel commitment.

2013 232

Proterra beefs up its battery expertise: Q&A CTO Dustin Grace


The Proterra Energy division offers a turnkey electrification solution for fleets, including financing, charging infrastructure and maintenance. The company builds its own battery packs, and has a current production capacity of 500 megawatt-hours per year.

2020 98

Electric vehicles trends in India

Electric Vehicles India

According to an independent study by CEEW Centre for Energy Finance (CEEW-CEF), the EV market in India will be a US$206 billion opportunity by 2030 if India maintains steady progress to meet its ambitious 2030 target. Similar is with diesel prices too such as Rs 97.45, Rs.94.39, Rs 93.02

India 87

JetBlue to go carbon neutral on all domestic flights by offsetting emissions starting in 2020; flying with SAF from SFO

Green Car Congress

The efforts also build on the airline’s existing programs such as investments in fuel-saving technologies and aircraft, as well as advocating for a more fuel-efficient air traffic control system that would reduce emissions from flying. Buying carbon credits means investing in emission reduction projects that require carbon offsetting financing in order to take place. The sale of carbon offsets help to finance the projects.

2020 150

Synthetic biology startup Lygos closes $13M Series A to target oil-based specialty chemical industry

Green Car Congress

a bio-based specialty chemicals company, closed $13 million in Series A financing led by IA Ventures and OS Fund. farnesane, bio-diesel, butanol, and ethanol). We are excited to enter this next phase of growth and continue building our team, our manufacturing and QC infrastructure, all while providing more fuel for our innovation engine to develop the next new products using our microbial manufacturing technology. Lygos , Inc.,

2016 212

UK wants to ban 100% ICE power by 2030

EV Info

Under Boris’s new Green plan, the sale of new combustion engine vehicles, that are powered wholly by Petrol or Diesel will be banned from 2030. Electric vehicles: Phasing out sales of new petrol and diesel cars and vans by 2030 to accelerate the transition to electric vehicles and investing in grants to help buy cars and charge point infrastructure. Innovation and finance: Developing cutting-edge technologies and making the City of London the global centre of green finance.

2020 50

Volkswagen to spend ~€44B on e-mobility, autonomous driving, new mobility services and digitalization through 2023

Green Car Congress

The Volkswagen Group is working consistently on improving earnings at all brands and companies in order to finance the enormous challenges of the future from its own resources. The diesel crisis will, however, still impact cash outflows in planning years 2019 and 2020. The plants in Emden and Hanover will be converted to build electric vehicles: models from the ID. BUZZ family in addition to building vehicles with conventional drives.

2018 240

CARB approves $483M funding plan for clean transportation investments; 94% of funding from cap-and-trade

Green Car Congress

The funding plan builds upon successes and lessons from previous years’ investments and furthers collaboration across related initiatives such as the AB 617 Community Air Protection Program. million for Air Quality Improvement Program or AQIP-funded heavy-duty vehicle investments, including the Truck Loan Assistance Program and new Diesel Particulate Filter Retrofit Replacements.

2018 177

Saab Automobile enters agreement with Hawtai Motor Group on strategic partnership

Green Car Congress

in financing ( earlier post ), conditionally secures medium-term funding and includes financing in the form of subscription agreements in the amount of €150 million (US$222 million) as well as a strategic alliance for China including joint ventures on manufacturing, technology and distribution. The partnership with the iconic Saab brand will give us access to innovative technologies and an international network which would have taken us decades to build. Spyker Cars N.V.

2011 174

USDA announces conditional commitment for $70M loan guarantee for Ensyn cellulosic biofuel refinery

Green Car Congress

The US Department of Agriculture (USDA) announced a conditional commitment for a $70-million loan guarantee to help build a cellulosic biorefinery in central Georgia. As a renewable cellulosic feedstock for refineries, RFO is coprocessed with traditional refinery feedstocks leading to the production of ASTM-specification gasoline and diesel fuels in an application known as Refinery Coprocessing.

2015 207

Can Electric Vehicles Speed Up As The Economy Slows Down?


In Italy, data from the Italian Foreign Car Maker Association highlights that car registration for gas and diesel-powered vehicles fell by 97.5% billion to build over 450.000 charging stations.

ZF opens passenger car transmission plant in the US; emphasis on 9-speed automatics

Green Car Congress

So far, ZF has invested around €300 million (US$399 million) in building the new location, which is around 130 kilometers (81 miles) north-west of Columbia. €450 million (US$598 million) is planned for investment into the new location—the largest single investment in the almost century-long history of ZF, emphasized Dr. Konstantin Sauer, ZF Board Member responsible for finance and the North American region. Manufacturing 8-speed automatics at Gray Court.

2013 216