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

Green Car Congress

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

Niron Magnetics raises $21.3M to commercialize rare-earth-free iron-nitride magnets

Green Car Congress

million in new financing. As part of ARPA-E’s REACT program, the University of Minnesota (UMN) developed an early stage prototype of an iron-nitride permanent magnet material.

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

Green Car Congress

a manufacturer of electric-mobility solutions to the transportation sector ( earlier post ), closed a $35-million financing with Marathon Asset Management. The proceeds will be used for current working capital, parts acquisitions to fulfill existing and future customer purchase orders and contracts as well as to satisfy full repayment of the senior secured notes incurred in July 2018. Workhorse Group Inc.,

2019 219

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.

Senate passes sustainable chemistry act as part of military spending bill

Green Car Congress

Agencies participating in the Entity must carry out specified activities in support of sustainable chemistry, including incorporating sustainable chemistry into existing research, development, demonstration, technology transfer, commercialization, education, and training programs. The National Defense Authorization Act (NDAA) passed by the Senate in late July includes the bipartisan Sustainable Chemistry Research and Development Act of 2019 ( S.999 ), led by US Senator Chris Coons (D-Del.)

2020 273

ChargePoint acquires eBus and commercial vehicle management provider ViriCiti to accelerate fleet electrification

Green Car Congress

ChargePoint Holdings, a leading electric vehicle (EV) charging network operating in North America and Europe, has acquired ViriCiti, a leading provider of electrification solutions for eBus and commercial fleets. The ViriCiti team, customer accounts and technology will become part of ChargePoint’s operations. IMPROVED Corporate Finance B.V.

Fleet 191

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. The agreement was part of the Super Truck program, a cost-sharing initiative between the Department of Energy (DOE) and the private sector. VanDyne SuperTurbo Inc.,

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. The major investors from previous rounds participated, including The Blackstone Group, Khosla Ventures, Total Energy Ventures International (part of Total, one of the world’s major Oil and Gas groups), ATV, Globespan Capital Partners, General Motors, Arancia, and Sumitomo. Coskata Inc.,

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

Green Car Congress

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

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). Although not part of the conferences formal structure, the themes were addressed in the presentations and panel discussions. Renewable energy projects are frequently financed with project rather than corporate finance. by Bill Cooke.

Enerkem raises C$59M in latest financing round; Valero Energy joins, Waste Management increases investment

Green Car Congress

Waste to biofuels and chemicals company Enerkem announced the closing of C$59 million (US$60 million) in financing. As part of this financing, Valero Energy Corp. Valero has investments in 10 ethanol plants throughout the Midwest; Valero and Enerkem have also agreed to jointly consider commercial opportunities. Enerkem’s financing round, for which Credit Suisse acted as agent, will support the company’s large roll-out of current and future planned projects.

2011 196

Energy Crop Company Ceres Completes New Round of Financing

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The proceeds will be used, in part, to expand the company’s research and commercialization activities in the advanced biofuels and biomass-to-power markets. Over the past three years the company has launched its energy grass seed business in the United States and expanded its research and commercialization activities into the biopower, bio-based chemical and sugar-to-biofuel markets, including joint projects with electric utilities and next-generation biorefineries.

IHS Markit: global commercial vehicle production to drop 22% in 2020 in wake of COVID-19

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IHS Markit is forecasting that global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 will be down 22% (more than 650,000 units) to 2.6 Most commercial vehicle factories in mainland China have returned to production. The China policy response to assist the commercial-vehicle industry has been broad, with a variety of direct and indirect supports announced, locally and nationally.

2020 175

ClearFuels Adds BNP Paribas to Commercial Development Team for BTL Diesel and Jet Fuel Biorefineries

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has executed a letter of engagement with BNP Paribas to act as financial advisor to assist and support ClearFuels in securing senior secured debt financing for its commercial thermochemical Biomass-to-Liquids (BTL) biorefinery projects. The agreement calls for BNP Paribas to assist and support ClearFuels with the analytical work and due diligence regarding ultimate debt financing for ClearFuels’ commercial projects. ClearFuels Technology Inc.

2010 179

Digital Currency and Trade Systems Are Tearing up the Rules

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Another example is the Swiss Trust Chain (which MIT helped engineer ); that platform is live but its commercial applications are still being developed. Blockchain China Finance EncryptionThe next big thing in global commerce is "trust chain" digital platforms.

Mayor of London announces £70M+ green fund to finance low carbon waste and recycling infrastructure

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The Mayor of London, Boris Johnson, announced an innovative fund totalling at least £70 million (US$114 million) which will finance low carbon waste and recycling infrastructure. Addressing an audience of senior financiers at the London Stock Exchange, the Mayor announced that Foresight Group, a leading sustainable asset manager, will manage the waste and recycling fund on behalf of and as part of the London Green Fund.

2011 179

Ford and Sollers form new JV in Russia; letter of intent for $1.4B in long term financing

Green Car Congress

Ford and Sollers also signed a Letter of Intent with Vnesheconombank (VEB), the Russian development bank, for long-term financing for Ford Sollers of 39 billion Russian roubles, or approximately $1.4 The new joint venture also announced the Ford Transit medium commercial vehicle will be among several new Ford products to be built by Ford Sollers. Ford Sollers will be responsible for the import and distribution of Ford brand products, parts and accessories in Russia.

2011 179

US Treasury To Provide Up To $5B in Financing For Auto Supplier Support

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While the President’s Task Force on the Auto Industry continues to review restructuring plans submitted by General Motors and Chrysler, the US Department of the Treasury announced an Auto Supplier Support Program that will provide up to $5 billion in financing to US-based suppliers. Suppliers to those companies that agree to maintain qualifying commercial terms will have the opportunity to request this government backed protection.

2009 150

Daimler to invest around $457M in the commercial vehicle plants in Brazil over next two years

Green Car Congress

Daimler Trucks plans to invest around one billion Brazilian real ($US457 million) in the commercial vehicle plants of Mercedes-Benz do Brasil in the next two years. The financing will be placed mainly in research and development of new products and innovative technologies, as well as in process optimizations and modernization of the two production plants São Bernardo do Campo (Federal State São Paulo) and Juiz de Fora (Federal State Minas Gerais).

2013 185

ArcelorMittal, LanzaTech and Primetals to build €87M commercial-scale waste-gas-to-ethanol plant

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ArcelorMittal, the world’s leading steel and mining company; LanzaTech; and Primetals Technologies, a leading technology and service provider to the iron and steel industry have entered into a letter of intent to construct Europe’s first commercial-scale production facility to create bioethanol from waste gases produced during the steelmaking process. Financing will be sought from a number of different sources.

2015 192

NSF to award up to $13M for fundamental work on sustainable production of electricity and transportation fuels

Green Car Congress

Projects involving fluid mechanics components as part of a systems approach to wind energy should be submitted to this program; projects focused on new computational fluid mechanics modeling should be submitted to the Fluid Dynamics program. Work on commercially available systems such as lead-acid and nickel-metal hydride will not be considered by this program. Batteries Biomass Financing Fuels Power Generation

2013 204

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

Green Car Congress

is planning to enter into a global commercial bus partnership with Brazilian commercial bus body manufacturer San Marino Onibus e Implementos Ltda (Neobus) and will invest in the company. Working together, we can bring value to customers with an integrated solution for commercial bus markets in South America and North America. The company also provides truck and diesel engine service parts. Another affiliate offers financing services. Navistar, Inc.

2012 191

Neste Oil in renewable diesel blend demonstration project aimed at commercialization; Diesel R33

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Neste Oil is part of a fleet demonstration program of a new blend of diesel fuel in Coburg, Germany. The Diesel R33 project is financed by the Bavarian State Ministry of the Environment and Public Health (StMUG), the European Union, and various other partners. Sustainability is an essential part of the project, and the sustainability of all the raw materials used will be monitored thoroughly throughout the project. Test bus for the Diesel R33 project. Click to enlarge.

2013 170

Preem Opens BioDME Filling Station in Stockholm, 5 Volvo DME Trucks Enter Operation as Part of 2-Year BioDME Field Test

Green Car Congress

Swedish oil company and distributor Preem recently inaugurated a BioDME filling station in Stockholm, and the first five Volvo DME (dimethyl ether) trucks ( earlier post ) in commercial operation have taken to the road in a two-year field test in Sweden. Volvo Trucks’ contribution to the project consists of FH DME trucks that will be tested by selected customers in different parts of Sweden. The moving parts in the engine are identical to those in the diesel variant.

2010 161

Lightning eMotors partners with ABB to provide DC fast chargers

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Lightning eMotors, a provider of specialty commercial electric vehicles for fleets, and ABB announced a partnership to offer DC fast electric vehicle chargers for commercial electric fleet vehicles. Lightning Energy supplies charging solutions to commercial and government fleets.

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Proposed Federal CEDA Designed to Help Risky Breakthrough Technologies Cross the Valley of Death; Working with $10+ Billion Fund

Green Car Congress

Green Car Congress recently attended the Renewable Energy Finance Forum - Wall Street ( REFF- Wall Street ) conference sponsored by Euromoney Energy Events and the American Council on Renewable Energy (ACORE). A common topic at renewable energy conferences is how to help companies cross the valley of death between technical validation at the pilot stage and full-scale commercial production. Tags: Financing Market Background Policy Sustainability by Bill Cooke.

2009 163

Report: total investment of $8.1T in nature required over next 3 decades; tripling current investments needed by 2030

Green Car Congress

trillion in nature is required over the next three decades to successfully tackle the climate, biodiversity, and land degradation crises, according to the State of Finance for Nature report released by the World Economic Forum, UN Environment Programme (UNEP), and the Economics of Land Degradation (ELD) Initiative hosted by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) in collaboration with Vivid Economics. —“State of Finance for Nature”.

SAIC and GM Form New Investment JV for Asia-Based Expansion and New Production and Sales JV for Global Small Cars and Mini-Commercial Vehicles in India

Green Car Congress

Under this new JV, small cars from Shanghai GM and mini-commercial vehicles from SAIC-GM-Wuling&mash;SAIC and GM’s manufacturing joint ventures in China—will be produced and sold in India. Both companies felt this was the proper time to deepen cooperation beyond China’s borders in order to enhance our partnership as part of our individual companies’ long-term growth strategies.” It has been China’s leading producer of mini-commercial vehicles for the past three years.

2009 161

Electric pickup startup Lordstown Motors goes public via SPAC; $1.6B transaction

Green Car Congress

Lordstown Motors Corporation, a startup developing an all-electric pickup truck serving the commercial fleet market, merged with DiamondPeak Holdings Corporation, a special purpose acquisition company (SPAC). Lordstown Motors will use the site to build the Endurance, its flagship fully-electric full-size pickup truck designed specifically to serve the commercial fleet market.

2020 260

Workhorse receives purchase order for 500 C-1000 electric delivery trucks from Pritchard Companies

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Inventory financing will be provided by Hitachi Capital America as part of Workhorse’s previously announced strategic partnership with HCA. Workhorse Group Inc. received a purchase order for 500 of its all-electric C-1000 delivery vehicles from Pritchard Companies.

2020 339

Hyundai bringing XCIENT Fuel Cell trucks to California

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Debuting last year in Switzerland, XCIENT Fuel Cell has proven its commercial viability through more than one million kilometers of driving in real-world conditions. This will be the largest commercial deployment of Class 8 hydrogen-powered fuel cell trucks in the US.

Northvolt & Mälarenergi partner to deploy battery energy storage for EV charging

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The partnership with Mälarenergi represents our first commercial deployment, showcasing how batteries can be a part of the solution of the future grid. The Rocklunda project is supported by financing from the Swedish Energy Agency (Energimyndigheten).

2019 320

VanadiumCorp beginning work on next-generation vanadium redox flow batteries for ships

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announced that commercial development work has commenced for the first phase of key design and engineering of next-generation vanadium redox flow-battery systems (VRFB Battery) for marine propulsion applications. VanadiumCorp Resource Inc.

Niobium anode startup Echion closes £10M A-round

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This financing will allow Echion to scale-up to multi-tonne level material production, demonstrating high-yield, cost effective manufacturability as well as to supply the growing demand for material for pre-production trials.

Hyundai Motor to establish hydrogen refueling station for fuel cell electric buses at Incheon Airport with partners, provide buses

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—Seong Kwon Han, President and Head of Commercial Vehicles Division at Hyundai Motor Company. The partnership is part of Korea’s Ministry of Environment’s project to install hydrogen refueling stations and subsidize privately financed infrastructure projects.

2020 311

Apex Clean Energy ordering 19 electrified F-series pickups from XL Fleet

Green Car Congress

In the past decade, Apex has commercialized $9 billion worth of wind and solar projects representing nearly 7 GW of clean energy opportunity. Enterprise is a leading full-service provider of fleet management capabilities, including vehicle acquisition, financing, maintenance and more.

Fleet 222

GM bringing Charge 360 to fleets

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General Motors and BrightDrop, a new business created and wholly owned by GM focused on electric commercial delivery and logistics, announced the Ultium Charge 360 fleet charging service, a comprehensive approach designed to help make the switch to electric seamless for fleet customers by connecting them with services, features and resources.

Fleet 185

Aurora enters long-term, global, strategic collaboration with Toyota and Denso for self-driving cars at scale

Green Car Congress

As part of this long-term effort, Aurora will be exploring mass production of key autonomous driving components with Denso and a comprehensive services solution with Toyota for when these vehicles are deployed at scale, including financing, insurance, maintenance, and more. In January, PACCAR and Aurora signed a global, strategic agreement to develop, test and commercialize autonomous Peterbilt and Kenworth trucks.

Lightning eMotors introduces new generation 4 Lightning Electric Transit Class 3 Van; battery-electric and fuel cell electric variants

Green Car Congress

As a result, we’ve sold more all-electric commercial EVs than any other vehicle manufacturer in North America to date. Service is performed by Lightning eMotors’ network of Ford QVM-certified service centers, upfitters, and dealers, and spare parts are readily available worldwide.

2020 358

Lightning Systems receives California ARB Executive Order for the Transit Bus Repower powertrain

Green Car Congress

Lightning Systems, a developer of zero-emission powertrains for commercial fleets, has received an Executive Order from the California Air Resources Board (CARB) for the Lightning Electric Transit Bus Repower, with HVIP approval expected within the next several weeks. Transit buses are excellent repower candidates for a variety of reasons, including the wide availability of parts and experienced service mechanics.

2019 224

Horizon closes $10M venture loan facility for NanoSteel

Green Car Congress

Horizon Technology Finance Corporation, a specialty finance company that provides capital in the form of secured loans to venture-capital-backed companies in the technology, life science, healthcare information and services and cleantech industries, closed a $10 million venture loan facility for The NanoSteel Company, a leader in nano-structured steel materials design.

2015 210

Empa and partners exploring DME as fuel with new heavy-duty test engine

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The scientists intend to provide sound data on the combustion process, efficiency and environmental impact of DME in the commercial vehicle sector. The research project is co-financed by the Swiss Federal Office of Energy (FOEN).

2020 333

MIT, Scripps study examines behavior of midwater sediment plumes from deep-sea nodule mining

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Using foundational scientific principles from fluid dynamics, we designed the system so that it fully reproduced a commercial-scale plume, without having to go down to 1,000 meters or sail out several days to the middle of the CCFZ.

MIT 326