article thumbnail

PHEV conversion company Echo Automotive completes $3M financing, joins CALSTART

Green Car Congress

a developer of technologies enabling the conversion of existing fleet vehicles into plug-in hybrid electric vehicles, completed a $3-million financing with United Fleet Financing, LLC, through a private placement offering and mezzanine financing. The terms of this note include conversion features at $0.55

Financing 218
article thumbnail

Fraunhofer researchers developing ammonia-based systems for mobile energy in infrastructure, transportation and industry

Green Car Congress

Researchers at the Fraunhofer Institute for Microengineering and Microsystems IMM are developing ammonia-based systems for a mobile, decentralized energy supply in the infrastructure, transportation and industry sectors. Ammonia (NH 3 ) could become an alternative solution to allow the required hydrogen to be stored and transported with ease.

article thumbnail

Calysta completes $3M Series A financing; biological conversion of methane to fuels and chemicals

Green Car Congress

Calysta Energy completed a Series A financing round totaling $3 million. The financing was led by Pangaea Ventures Ltd., Calysta intends to use the Series A investment to advance development of biological routes to high value industrial chemicals and fuels based on methane, an advantaged feedstock from natural gas. Earlier post.).

Financing 210
article thumbnail

Universal Hydrogen secures additional $62M in financing to accelerate first test flight of hydrogen-powered regional aircraft to 2022

Green Car Congress

The proprietary modular capsule technology is significantly lighter than the current state of the art in hydrogen storage and is designed from first principles for flight and ground transport safety certification. Full-scale prototype of Universal Hydrogen's gaseous hydrogen module, with one capsule removed.

Hydrogen 397
article thumbnail

DOE announces $15.5B package primarily focused on retooling existing factories for EVs

Green Car Congress

This includes making available $2 billion in grants and up to $10 billion in loans to support automotive manufacturing conversion projects that retain high-quality jobs in communities that currently host these manufacturing facilities. Leveraging New Loan Authority for Automotive Manufacturing Conversion Projects.

article thumbnail

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

Green Car Congress

million Series A financing round led by prominent Silicon Valley venture fund, Playground Global, with the investor syndicate comprising Fortescue Future Industries, Coatue, Global Founders Capital, Plug Power, Airbus Ventures, JetBlue Technology Ventures, Toyota AI Ventures, Sojitz Corporation, and Future Shape.

Hydrogen 397
article thumbnail

Nesscap completes US$1M convertible note financing

Green Car Congress

The offering constituted the second tranche of the bridge financing previously announced on 8 April 2014. The Note has a maturity date of 1 April 2015; the conversion price is CAD 0.10 Customers of the Company include transportation, power, and consumer markets. Ultracapacitor company Nesscap Energy Inc.

Financing 186