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BMW i Ventures co-leads investment in circular supply chain company Cyclic Materials; recycling rare earth elements

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BMW i Ventures announced an investment in Canada-based Cyclic Materials , a circular supply chain company focused on recycling rare earth elements (REE) ( earlier post ). The financing will be used to establish a hub and spoke network for the company’s commercial scale operations.

BMW 199
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The Metals Company and Low Carbon Royalties form strategic partnership

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Deepsea mining company TMC The Metals Company ( earlier post ) announced a strategic partnership with Low Carbon Royalties Inc. to finance the development and production of low-carbon fuels and energy transition metals. TMC and LCR have agreed to a purchase and sale agreementwhereby LCR has acquired a 2.0%

Carbon 352
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T&E: two-thirds of European battery production at risk as companies weigh investing in US instead

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Tesla in Berlin, Northvolt in northern Germany and Italvolt near Turin are among the projects that stand to lose the greatest volumes of their slated capacity as the companies weigh up investing in the US instead. Battery investment in the US and China continued to grow, and European companies have already signalled expansion in America.

Companies 430
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Germany and Australia to establish alliance on green hydrogen supply chain

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German Federal Minister of Economics Peter Altmaier and Federal Minister of Research Anja Karliczek, together with their Australian counterpart, Energy Minister Angus Taylor, have signed a letter of intent to establish a “Germany Australia Hydrogen Accord” to facilitate a green hydrogen supply chain between the countries.

Australia 334
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Autonomous truck company Inceptio Technology raises US$188M in Series B+

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Inceptio Technology, an autonomous driving truck technology and operation company ( earlier post ), closed a US$188-million Series B+ equity financing. This round of financing was jointly led by Sequoia Capital China and Legend Capital.

Companies 259
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Direct lithium extraction company EnergyX secures $20M in funding commitments

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Direct lithium extraction (DLE) technology company Energy Exploration Technologies Inc. EnergyX) has secured commitments of $20 million in financing. The company said that the funding makes it the highest-valued direct lithium extraction technology company on the market. tons by 2040.

Companies 448
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BloombergNEF reports 11% year-on-year rise in renewable energy financing in the first half of 2022, for a total of $226B

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Wind project financing was up 16% from 1H 2021, at $84 billion. Both sectors have been challenged recently by rising input costs for key materials such as steel and polysilicon, as well as supply chain disruptions and rising financing costs. The 2Q figure, at $3.9 billion raised, is the lowest quarterly total since 2Q 2020.

Financing 243