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A123 Systems receives interim court approval of $50M DIP financing from Wanxiang; responds to objections from Wanxiang, Fisker and others on asset sales process

Green Car Congress

announced that the United States Bankruptcy Court for the District of Delaware (the "Court") has granted A123 interim approval to use $50 million of Debtor-in-Possession (DIP) financing, which is being provided by Wanxiang Group Corporation (Wanxiang). The financing supplements the pre-petition $22.5

Financing 225
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DOE awarding $1.6B to 11 battery materials separation and processing projects as part of $2.8B funding

Green Car Congress

billion to 21 projects to expand domestic manufacturing of batteries for electric vehicles (EVs) and the electrical grid and for materials and components currently imported from other countries. Albemarle is finalizing the site selection for the lithium hydroxide conversion plant in the southeastern United States. Of that, $1.6

Parts 459
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15 Graphs That Explain the State of AI in 2024

Cars That Think

Generative AI investment skyrockets While corporate investment was down overall last year, investment in generative AI went through the roof. Another chart in the report shows that most of that private investment in generative AI is happening in the United States.

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Bank of America joins Stanford’s Global Climate & Energy Project

Green Car Congress

The GCEP collaboration expects to benefit from the bank’s expertise in financing sustainable businesses dedicated to addressing climate change and advancing low-carbon solutions. Bank of America’s member on the GCEP management committee will be James Mahoney, the bank’s corporate communications and public policy executive.

Climate 218
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A123 Systems and Wanxiang execute definitive agreements for investment of up to $465M in A123

Green Car Congress

US-based Li-ion battery manufacturer A123 Systems announced the execution of definitive agreements with China’s Wanxiang Group Corporation, which follows the non-binding memorandum of understanding (MOU) that A123 signed with Wanxiang on 8 August 2012. Earlier post.) — David Vieau, CEO of A123.

Convert 231
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Doug Ford ‘disillusioned’ in feds’ dealing with of Stellantis offer for EV battery plant

Baua Electric

The corporate finalized the “special contribution agreement” with the government in February 2023, just about a era later the plant used to be first introduced. Thomas plant, together with highway and freeway enhancements and gear grid expansions. Building on the website has now forbidden.

Ford 52
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Energy 2030 outlines steps to double US energy productivity by 2030; spend $166B a year to net savings of $327B

Green Car Congress

More than $1 trillion in cost-effective energy savings opportunities are available in the United States, but achieving the savings will require the investment of hundreds of billions of dollars, the report notes. Make all cost-effective efficiency improvements to federal buildings, using private financing and public funds.

Energy 236