Brightmark Energy closes $260M in financing for first US commercial-scale waste-plastics-to-fuel plant; ULSD and naphtha

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Brightmark Energy , a San Francisco-based waste and energy development company, closed a $260-million financing package for the construction of the US’ first commercial-scale plastics-to-fuel plant, which will be located in Ashley, Indiana. The financing for “Brightmark Energy Ashley Indiana” includes $185 million in Indiana green bonds, which were underwritten by Goldman Sachs & Co.

2019 225

Group14 closes $18M in financing to scale-up silicon-carbon composite anode material

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Group14 Technologies announced $18 million in new financing from Amperex Technologies Limited (ATL), Showa Denko (SDK), Cabot Corporation, BASF Venture Capital, and OVP Venture Partners.

2019 222
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Gevo closes $25.9M financing with Whitebox Advisors

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a leading renewable technology, chemical products, and next generation biofuels company, has closed a private debt financing with Whitebox Advisors LLC consisting of a senior secured term loan exchangeable into senior secured convertible debentures. The term loan is exchangeable into convertible debentures within 90 days of the closing of the financing, subject to certain ownership limitations. million in convertible debentures within 90 days of closing of the Financing.

UQM Technologies closes $5.3M financing

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UQM Technologies, a developer of and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the automotive, commercial truck, bus and military markets, completed a $5.3-million capital raise through institutional investors.

Universal Hydrogen announces $20.5M in Series A funding to build and test full-scale hardware for hydrogen commercial aircraft

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The financing allows Universal Hydrogen to accelerate the development of its hydrogen logistics network and regional aircraft conversion kits, and bolsters the company’s burgeoning commercial activities.

Workhorse Group secures $35M in financing from Marathon Asset Management; $1.3M battery purchase by Duke Energy

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a manufacturer of electric-mobility solutions to the transportation sector ( earlier post ), closed a $35-million financing with Marathon Asset Management. Going forward, our primary goal for both current and future capital initiatives is to leverage the best available financing solutions that will provide liquidity and favorable economics. Workhorse Group Inc.,

2019 219

Exelon to provide financing for 21MW of Bloom Energy SOFC projects at 75 commercial facilities

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Exelon Corporation will provide equity financing for 21 megawatts (MW) of Bloom Energy solid oxide fuel cell (SOFC) projects at 75 commercial facilities in California, Connecticut, New Jersey and New York. As the first step in a long-term strategic partnership with Bloom Energy, Exelon will finance Bloom Energy projects through Bloom Electrons, a service that allows customers to buy power as a service, rather than purchasing the equipment directly.

2014 185

BloombergNEF: clean energy investment in developing nations slumps as financing in China slows; coal burn surges to record high

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Of the total $133 billion in asset finance that flowed to supporting development of new clean energy projects in the markets in developing nations, just $24.4

2019 222

Technology Credit Union announces financing relationship with Tesla Motors

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Tech CU (Technology Credit Union) is working with Tesla Motors as a preferred financing partner for their Model S, Model X and Roadster electric vehicles, offering up to 100% financing with a competitive annual percentage rate (APR). Tesla is also a Tech CU Member Company; Tech CU provides Tesla employees with resources that include personal and business banking, commercial lending and comprehensive wealth management services that include investing and financial planning.

2014 204

Ford introduces F-150 Lightning Pro electric pickup targeted at commercial customers

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Ford unveiled the all-electric 2022 F-150 Lightning Pro, a version of the electric F-150 Lightning ( earlier post ) targeted at commercial customers. Commercial customers track their business expenses closely—they buy what they need and not a penny more.

F-150 222

Waste-to-biofuels company Enerkem raises C$280M, its largest financing round

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In addition to new investors BlackRock and Sinobioway, existing investors also participated in this financing. This new and significant financing will help accelerate our growth and further expand project development and implementation. Enerkem operates a full-scale commercial facility in Alberta as well as an innovation centre in Québec. Canada-based Enerkem Inc.,

2018 183

Enerkem raises C$15M in project equity financing for its commercial waste-to-biofuels facility in Alberta

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which is currently building a full-scale commercial facility in Edmonton, using Enerkem’s proprietary technology. Total financing raised by Enerkem in 2011, both at the corporate and project subsidiary levels, now amounts to C$103 million. Construction of this commercial plant is well underway, which places it among the first full-scale advanced biofuels facilities to be built in North America. Waste Management and EB Investments are investing C$15 million (US$14.6

2011 191

PACCAR and Aurora partner to develop and commercialize autonomous Peterbilt and Kenworth trucks

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PACCAR and Aurora have signed a global, strategic agreement to develop, test and commercialize autonomous Peterbilt and Kenworth trucks.

SG Biofuels completes $17M Series B financing

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SGB), a bioenergy crop company developing elite hybrid seeds of Jatropha as a low-cost feedstock for biodiesel, biojet fuel and specialty chemicals, has completed a $17-million Series B financing led by Thomas, McNerney & Partners with participation from Finistere Ventures and current investors Flint Hills Resources, LLC and Life Technologies Corporation. SGB will use the proceeds to expand research and development, advance commercialization efforts and scale global operations.

GE Capital to provide financing for electric motorcycle maker Brammo

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GE Capital’s Commercial Distribution Finance (CDF) business has agreed to provide Brammo Inc. with inventory financing to support the expansion of its dealer network in the US. CDF already provides inventory financing for other brands of alternative fuel and hybrid motorsports products. This type of arrangement, also known as floorplan financing, allows dealers to stock, market and sell a wide variety of motorcycles and related products from manufacturers.

Hyundai Motor partners with regional firms to establish H2 fuel cell commercial vehicle ecosystem in China

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Hyundai Motor Company is spearheading the development of a hydrogen fuel cell commercial vehicle ecosystem in China with regional partners. Hyundai believes China has a massive potential for hydrogen powered commercial vehicles.

2020 241

Algenol closes on additional $25M internal equity financing

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The company is working to commercialize this technology and scale production of its 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. Algal fuels producer Algenol has closed on a $25-million dollar investment from BioFields, a Mexican business group devoted to the development of renewable and clean energy projects.

2015 179

ClearEdge Power completes $73.5M Series E financing round

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million in Series E financing through the sale of new shares and the conversion of previously issued promissory notes. The financing will be used to further grow customer adoption in key commercial markets, expand internationally and develop and commercialize new products. Stationary fuel cell manufacturer ClearEdge Power has raised $73.5

Biomass-to-sugar company Comet Biorefining completes new round of equity financing

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Comet Biorefining, an industry leader in the production of high-purity cellulosic dextrose, has completed a round of equity financing led by new investor PM Equity Partner. Current investor Sofinnova Partners and new investor Bioindustrial Innovation Canada (BIC) also participated in the financing. Terms of the financing were not disclosed. The Ontario farmer group plans to invest in and supply corn stover and wheat straw feedstock to Comet’s commercial plant.

2017 150

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

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Pinnacle Engines also announced closure of its Series C financing, bringing total investment in the company to more than $30 million. Prior to Hyundai, BVR was with Tata Administrative Services and headed marketing at Tata Motors with overall responsibility for formulating and implementing strategies in marketing, sales, service and financing for both commercial vehicles and passenger cars.

2014 240

Better Place closes $200M Series C financing; valuation now $2.25B

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Better Place, a developer and provider of electric car networks—including battery switch stations, batteries and public/personal charge spots ( earlier post )—worldwide, has secured $200 million through a Series C equity financing from a consortium of top-tier investors and partners, nearly doubling the company’s valuation to $2.25 billion (post money valuation on a fully diluted basis) since the last financing in January 2010.

Mascoma and Valero establish JV for commercial-scale hardwood cellulosic ethanol facility; Valero providing majority of financing

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Cellulosic biofuels and consolidated bioprocessing company Mascoma Corporation has entered into definitive agreements with Valero Energy Corporation, the US’ largest independent oil refiner and a leading ethanol producer, to develop and to operate a first-of-its-kind 20 million gallon per year (mgpy) commercial-scale cellulosic ethanol facility in Kinross, Michigan.

2011 185

NRG invests additional $35M in FuelCell Energy for 6% of company; establishes $40M financing facility

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FuelCell Energy intends to use the net proceeds from the offering for project development, project finance, working capital support and general corporate purposes. In addition to the common stock investment, NRG Energy has extended a $40 million revolving construction and term financing facility for the purpose of accelerating project development by FuelCell Energy and its subsidiaries. per annum for construction-period financing and 8.0% FuelCell Energy, Inc.,

2014 210

VanDyne SuperTurbo raises $8M in Series C equity financing

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the developer of a charger with an integral continuously variable transmission (CVT) ( earlier post ), has raised $8 million in Series C equity financing round. Proceeds from the financing will help drive the company’s growth initiatives and speed up the commercialization of the SuperTurbo technology. VanDyne SuperTurbo Inc.,

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

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Joule, the developer of a direct, single-step, continuous process for the production of solar hydrocarbon fuels using engineered cyanobacteria ( earlier post ), announced the successful results from third-party testing of its ethanol fuel (Sunflow-E), setting the stage to obtain certification for commercial use. Joule has initiated efforts to use these results to obtain the government approvals needed for commercialization of its ethanol fuel. New financing.

2015 191

Global Bioenergies obtains €4.4M loan to complete financing of demo plant, begins construction

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Global Bioenergies, a startup developing and commercializing a fermentation process that targets gaseous isobutene, has obtained a €4.4-million (US$4.7-million) loan from a consortium of four French banks—BNP Paribas, Société Genéralé, CIC and Bpifrance—to complete the financing of its demo plant. This new financing will cover the purchase of a complete fermentation unit, comprising an inoculation fermenter, a propagation fermenter, and a 5,000L production fermenter.

2015 179

CO2-to-chemicals company Liquid Light raises $15M Series B financing; process scale-up and application validation

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Start-up Liquid Light, a developer of process technology to make major chemicals from low-cost, globally-abundant carbon dioxide ( earlier post ), has closed a $15-million Series B financing. The financing was completed at a significant increase in company valuation. By adjusting the design of the catalyst, the technology can produce a range of commercially-important multi-carbon chemicals.

2014 191

DOE issues Request for Information on financing strategies for light-duty H2 fueling infrastructure

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The US Department of Energy (DOE) has issued a Request for Information (RFI) ( DE-FOA-0001055 ) for light-duty fuel cell electric vehicles (FCEV) fueling infrastructure financing strategies within the context of an early market introduction. This input will augment financing strategies that DOE analyzes for public deployment of infrastructure for supporting FCEV introduction in US markets.

2013 225

Amyris secures $42.25M financing, begins Biofene production in Brazil

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Amyris’s initial portfolio of commercial products is based on Biofene, Amyris's brand of renewable farnesene, a long-chain hydrocarbon. Renewable chemicals and fuels company Amyris, Inc. has completed a $42.25 million private placement of its common stock. In addition, Amyris announced its purpose-built industrial fermentation facility in Brazil has successfully begun production of Biofene, Amyris’s brand of renewable farnesene.

Coskata Inc. completes first close of Series D financing round

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a developer of technology for the production of advanced biofuels and biochemicals from biomass and waste materials, announced a first close of its Series D round of financing. According to William Roe, president and CEO, the proceeds from this transaction will go towards funding the remaining steps to commercialization. Coskata Inc.,

Cummins increases investment in Loop Energy and fuel cells for commercial transport applications

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Funds from the strategic financing will be used to further accelerate the company’s product development activities, project deployments, and growth plans as the Company expands its technical leadership in medium and heavy-duty hydrogen fuel cell bus and trucking applications. Loop Energy, a provider of fuel-cell-electric range-extenders for medium- and heavy-duty transport applications, has received an additional cash investment from Cummins Inc.

2020 232

Bio- and jet-fuel carinata feedstock company Agrisoma closes $15.4M Series B financing

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Agrisoma Biosciences, an agricultural company that has commercialized carinata, a non-food oilseed crop designed for sustainable production of biofuels, has closed a $15.4-million Series B financing round, co-led by new investor Groupe Lune Rouge and current investors Cycle Capital Management, and BDC Venture Capital.

2017 150

Fuji Electric to offer zero-down, zero-interest financing program for fast charging stations in US

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to offer Financing Programs on their DC Quick Charging Stations for Electric Vehicles. The program offers zero-down, zero-interest financing in an effort to offset the cost of equipment and encourage small businesses to install charging stations at their sites. The station provides a complete charge to an EV with a 25 kWh pack in under an hour, making it suited for commercial applications such as hotels, restaurants, retail stores, and public highways/interstates.

2013 185

“Project Volt Gas Volt” proposes long-term financing plan to support widespread implementation of power-to-gas systems

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Project Volt Gas Volt is based on a long-term financing plan and the use of existing technologies for the large-scale conversion of surplus renewable electricity to methane, with subsequent reuse. Audi, along with ETOGAS, is building the first commercial-scale demonstration plant (6.3 Financing Project VGV: the Green Redemption Fund. Private green funds could help finance a global fund.

2013 269

Opposed-piston engine company Achates Power raises $35.2M in Series C Financing; new industry advisory board

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million in Series C financing. The Series C financing follows a $19-million Series B round in 2009 and brings the total raised by Achates Power to nearly $90 million since its 2004 founding. The company says that the Series C funding and Industry Advisory Board formation will help accelerate its product development and commercialization efforts. Achates Power, Inc.,

2013 204

Praj Industries and Qteros partner to accelerate global commercialization of cellulosic ethanol; Qteros closes Series C financing tranche

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the developer of a Consolidated Bioprocessing (CBP) platform for low-cost production of cellulosic ethanol using the Q-microbe ( earlier post ), have formed a strategic partnership to accelerate commercialization efforts for industrial-scale cellulosic ethanol production. Qteros also announced that it has closed the initial tranche in its Series C financing. India-based Praj Industries Limited and Qteros, Inc.,

2011 161

EcoDual partners with VFG to provide financing for dual-fuel natural gas conversions

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EcoDual, LLC, a provider of diesel-to-natural-gas dual-fuel conversion systems for heavy duty diesel powered trucks has partnered with Vision Financial Group (VFG) to provide lease-to-own financing options for fleet owners seeking to convert to natural gas operation. VFG Leasing & Finance serves a broad customer base by providing flexible financing on most types of commercial equipment and software assets.

2012 196

Valero providing construction financing for Valero-Diamond renewable diesel JV

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A subsidiary of Valero Energy Corporation will provide financing to Diamond Green Diesel LLC, a previously announced joint venture project between Darling International and Valero Energy Corporation ( earlier post ), for the construction of its renewable diesel facility in Norco, Louisiana. Valero's financing commitment means that we will no longer require a funding guarantee from the US Department of Energy under the Energy Policy Act of 2005.

Panda Power finances conversion of retired coal plant to natural gas; one of largest power conversion projects in US

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Panda Power Funds has financed the 1,124 megawatt Panda “Hummel Station” power plant—one of the largest coal-to-natural gas power conversion projects in the United States. The plant is expected to supply large power markets, including Philadelphia and the New York metropolitan area, when it enters commercial operations in the first quarter of 2018.

2015 184

Renewable fuels and biochar company Cool Planet closes on $100M Series D financing

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Cool Planet Energy Systems, a renewable fuels and biochar company ( earlier post ), closed on its targeted $100 million Series D financing. Cool Planet is moving aggressively to commercialize its technology and scale production of its renewable fuel and CoolTerra products. The company has begun selling CoolTerra for use in commercial agriculture and recently signed an agreement with Organic Waste Solutions (OWS) for water treatment and remediation.

2014 196

Li-ion battery maker Leyden Energy raises $10M in Series C financing; targeting stop-start

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a developer and manufacturer of advanced batteries, has raised $10 million in Series C financing from existing investors, including New Enterprise Associates (NEA), Lightspeed Ventures, Sigma Partners and Walden International. During 2012, Leyden Energy commercialized its Li-imide battery chemistry and continued its R&D focus on silicon anode and other emerging technologies. Leyden Energy, Inc.,

2013 207

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

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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.

BIO Calls for a Range of Policies to Support US Biorefinery Commercialization; Need For Federal Support in Financing

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The Biotechnology Industry Organization (BIO) has called for sustained, consistent and diverse federal support to encourage commercial development of a full range of innovative bio-based technologies. However, we do need more robust federal policies for loan guarantees if we’re to realize the full job potential of commercial-scale biorefinery construction —Brent Erickson, executive vice president for BIO’s Industrial and Environmental Section.

2010 161