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Benchmark: global battery industry needs to invest $514B to meet demand in 2030; $920B by 2035

Green Car Congress

Globally, the battery industry needs to invest at least $514 billion across the whole supply chain to meet expected demand in 2030, and $920 billion by 2035, according to a new analysis by Benchmark. Energy storage might form a relatively small piece of the overall financing required, but it is a strategically critical piece of the puzzle.

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DOE awards $165M GEODE grant to consortium to accelerate development of geothermal by leveraging oil and gas industry

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The grant will provide $10 million in the first year, which will fund the consortium members, in collaboration with more than 100 partner entities, to develop a roadmap to accelerate the growth and development of geothermal, leveraging expertise, technologies, and methods from the oil and gas industry. —John Boden of SPE

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Revamp Moto partners with loan providers for 2W financing solutions – ET Auto

Baua Electric

The financing partners will extend credit lines to the customers, with interest rates ranging between 12.4% The financing partners will extend credit lines to the customers, with interest rates ranging between 12.4% and 15%, with a repayment period extending up to five years. and 15%, with a repayment period extending up to five years.

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The Metals Company and Low Carbon Royalties form strategic partnership

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to finance the development and production of low-carbon fuels and energy transition metals. However, relative to other parts of the value chain, global investment in mining of energy transition metals is lagging. TMC and LCR have agreed to a purchase and sale agreementwhereby LCR has acquired a 2.0%

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MHI invests in Electric Hydrogen to accelerate efforts to produce clean hydrogen at scale

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Mitsubishi Heavy Industries, Ltd. MHI) has invested in Electric Hydrogen (EH2), a clean hydrogen startup headquartered in Natick, Massachusetts, to support its efforts in developing cost-competitive, fossil-free hydrogen. The investment was part of a $198-million financing.

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Proposed Changes to Federal EV Tax Credit – Part 2: End of the Manufacturer Sales Phaseout

EV Adoption

In the Clean Energy Act for America (CEAA) proposed legislation, this per manufacturer threshold would be eliminated and replaced with an industry-wide phaseout based on reaching 50% EV sales share. In part 1 of this series we provided a high-level summary and handy table of the 9 key proposed changes to the federal EV tax credit.

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

Green Car Congress

Hyundai will support the construction cost of the hydrogen refueling station while providing up to 12 fuel cell electric buses as well as their maintenance and service. The partnership across industries will be a stepping stone in bringing the hydrogen economy closer to daily lives.

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