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MassCEC Approves $5M Forgivable Loan for A123 Systems; Targeted at Expansion for Grid Storage Systems

Green Car Congress

With the new expansion, A123 Systems will assemble and commission grid-storage battery systems in Massachusetts. Under the terms of the MassCEC financing, A123 will double its Massachusetts employment to more than 500 by 2014.

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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). Renewable energy projects are frequently financed with project rather than corporate finance. by Bill Cooke.

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A123Systems Raises $69 Million in New Round of Private Financing; GE Increases Ownership to More than 10%, Director of GE Global Research to Join Board

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A123Systems has raised $69 million from GE and other investors to accelerate the expansion of its US lithium-ion battery manufacturing and smart grid capabilities. The funding will also support A123’s efforts to develop applications for the smart grid, such as utility-scale energy storage.

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California Startup Aurica Motors Trying to Keep NUMMI Plant Open for Manufacturing Electric Cars, Battery Swap System

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Aurica is trying to obtain Federal economic stimulus funding to convert NUMMI to electric car manufacturing, but is also open to private financing. The Aurica E-Car features four electric motors (one for each wheel), controlled by its proprietary drive electronics. The PEP station concept is not compatible with the Better Place system.

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EnerDel Plans to Invest $237M in New Indiana Lithium-Ion Battery Plant

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Lithium-ion battery manufacturer EnerDel will invest $237 million in a new manufacturing plant near its Indianapolis headquarters in order to meet anticipated demand for advanced battery systems used in both automotive and stationary smart grid applications. The Indiana plant will be financed through a $118.5

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Energy storage: why do we need it? The Green Piece.

Green Cars News

With electric cars inching ever closer to a mainstream reality, questions are raised as to how the grid will cope with increased demand. In 2009, for example, the US Stimulus Plan helped finance research into energy storage with [.]. One of the potential answers appears to be energy storage.

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PwC industry survey provides check-up on determining factors for EV success

Green Car Congress

More than 200 participants from the automotive, utilities, energy, technology, government, finance, education and other sectors provided their feedback for the effort. This is already a reality as governments around the world have offered billions of dollars in the form of loans, grants, and rebates through various stimulus programs.