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Pinnacle Engines also announced closure of its Series C financing, bringing total investment in the company to more than $30 million. Investors in the round included Mitsui Global Investment, VenturEast and a strategic OEM partner along with its existing investors Bessemer Venture Partners, New Enterprise Associates and Infield Capital.
With the battery price not included in the vehicle sales price, nor in the finance payments, the costs are significantly lower to switch to an EV. Limited, Hubei Science Technology Investment Group Co., and Guotai Junan International Holdings Ltd., Weineng Wuhan Battery Asset Co.,
Saying that “ investment-grade climate change and clean energy policy is required to shift private sector investment from high-carbon to low-carbon assets ”, a group of 285 investors has urged governments and international policy makers to take new and meaningful steps in the fight against climate change.
completed a financing for C$5 million (US$4.96 This financing provides valuable working capital for future growth, including certain strategic initiatives. Board member of Chrysler Group, joined Electrovaya in March 2010 as a member of the Board Directors. Canada-based Li-ion battery maker Electrovaya Inc. issued to the lender.
which is commercializing olefin metathesis technology for renewable fuels and chemicals, has raised $100 million in its Series C financing round. Naxos Capital Partners led the round with additional new investors, including Total Energy Ventures International, joining TPG Biotech and TPG Growth in the financing. Earlier post.).
a developer of technology for the production of advanced biofuels and biochemicals from biomass and waste materials, announced a first close of its Series D round of financing. Coskata Inc.,
Although independent reporting on these subsidies has increased, global efforts to move forward with subsidy reform have been hindered by a variety of causes, leaving international pledges unfulfilled. of the GDP for 2011–12, according to the International Institute for Sustainable Development’s Global Subsidies Initiative ( GSI ).
Workhorse Group has received a purchase order for 6,320 C-Series all-electric delivery vehicles from Pride Group Enterprises, a company with businesses in transportation equipment retail, wholesale, rental, leasing and logistics. Inventory financing for that deal is also being provided by Hitachi Capital America. Brake System.
million in Series C financing. The Series C financing follows a $19-million Series B round in 2009 and brings the total raised by Achates Power to nearly $90 million since its 2004 founding. overseeing all powertrain technologies, as well as the 2014 Society of Automotive Engineers (SAE International) presidential nominee.
Among other things, we will promote the production of hydrogen on an industrial scale in Australia with German-Australian ‘Hydrogen Hubs’ using German technology and explore possibilities for cooperation within the framework of our new international funding instrument ‘H2-Global’. Co-financing of an AUS-DEU H 2 incubator for applied research.
Volkswagen Group executives laid out the basics of the new Group strategy “NEW AUTO – Mobility for Generations to Come”, which will see the Group realign from being a from vehicle manufacturer to a leading, global software-driven mobility provider. SSP: The next generation of mechatronics platform.
Koenigsegg Group AB has terminated the agreement for its proposed purchase of GM’s Saab. Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. —Fritz Henderson. Earlier post.) Earlier post.).
In June, Renault Group and Plug Power launched their hydrogen fuel cell and infrastructure joint venture HYVIA. The joint venture is equally owned by the two partners and is chaired by David Holderbach, with more than 20 years of experience in strategic, product and international sales at the Renault Group. Earlier post.)
The VCS was developed by The Climate Group, the International Emissions Trading Association (IETA), and the World Business Council for Sustainable Development (WBCSD) with input from a range of business, government and non-government organizations.
Algal fuels producer Algenol has closed on a $25-million dollar investment from BioFields, a Mexican business group devoted to the development of renewable and clean energy projects. This new investment follows a previous investment of $40 million from BioFields in 2014.
With support from Mitsubishi Corporation’s Urban Development Group, the corporation sees a key role for wireless charging and autonomy in the future of smart cities around the world. —Mitsumasa Icho, Executive Vice President, Group CEO, Urban Development Group, Mitsubishi Corporation.
Koenigsegg Group AB has signed a Memorandum of Understanding (MOU) with Beijing Automotive Industry Holdings Co. BAIC) to explore growth opportunities in the Chinese and international markets for the products of SAAB Automobile and BAIC. Koenigsegg Group will own 100% of SAAB Automobile AB.
A new global alliance comprising businesses and government leaders and led by the international NGO, The Climate Group, set an ambitious target to put one million additional EVs on the road by 2015, on top of EVs that automakers are already planning to bring to market.
The financing was led by Amazon’s Climate Pledge Fund, D1 Capital Partners, Ford Motor Company and funds and accounts advised by T. This round included participation by Third Point, Fidelity Management and Research Company, Dragoneer Investment Group, and Coatue. The financing was led by funds and accounts advised by T.
and Saab Automobile AB (Saab Automobile) have signed an agreement with Hawtai Motor Group Company Limited (Hawtai). Our driver-oriented vehicles appeal to a whole new group of independently thinking customers who appreciate Saab’s advanced designs, safety and responsible performance. Spyker Cars N.V.
On the other hand, venture finance deal values also grew from $595.23 In Canada, Green Hydrogen International (GHI) announced two important green hydrogen projects as a sole participant, with 43 mtpa capacity each, which are expected to begin production in 2030. Last year, mergers and acquisitions (M&A) deals reached $24.4
SIMI), and Alibaba Group Holding Limited announced an agreement under which SoftBank Group (further described below) led a financing round of approximately US$600 million, with participation from existing shareholders Alibaba Group and Tiger Global, to expand and improve KuaiDi Dache’s services in China. Travice Inc.,
With this level of cell energy efficiency—well above International Renewable Energy Agency’s (IRENA) 2050 target and significantly better than existing electrolyzer technologies—hydrogen production cost could be well below US$1.50/kg. 2 and 85 °C of only 1.51 V, equating to 98% energy efficiency, with an energy consumption of 40.4
Rental car company Avis Budget Group, Inc. Nelson, Avis Budget Group chairman and CEO. In particular, Avis Budget expects significant cost reductions across the fleet life cycle (from procurement to operations and maintenance to disposition, as well as financing), in addition to savings from eliminating Zipcar’s public-company costs.
Chrysler Group LLC has filed a registration statement on Form S-1 with the US Securities and Exchange Commission (SEC) relating to a proposed initial public offering of common shares. This transmission reduces fuel consumption by up to 12% over most of the current 5-speed and 6-speed transmissions in the Group lineup. Transmissions.
The company through its subsidiaries holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga. Deep sea mining remains controversial.
Research and development costs at Mazda group for three years ending March 31, 2012 is expected to be ¥292 billion (US$3.3 Mazda intends to raise up to ¥95.879 billion (US$1.1
Enedym, a switched reluctance motor (SRM) spinout from McMaster University, closed a $15-million financing round from an internationalgroup of strategic investors within the US, Canada, Europe, and India, including P&A Paletta Giving Inc., TRIO Capital Group Inc., Napino Group, KWG Capital Inc.,
Financing alternatives are being evaluated. TECO 2030 originates from the TECO Maritime Group, which has provided technology and service to the global shipping industry for more than 25 years. IMO, the International Maritime Organization, targets carbon emission cuts of 40% by 2030 and 70% by 2050, compared to 2008 values.
Finnish Minerals Group, a mining and battery industry development and investment company, and FREYR Battery will cooperate to assess the feasibility of establishing an LFP cathode material plant in the city of Vaasa. Finnish Minerals Group initiated the scoping study at the end of 2021, and now the survey and analysis work is complete.
VTES will be integrated into Valeo’s Powertrain Systems Business Group with immediate effect. CPT was advised on the transaction by Turquoise International (corporate finance) and Matthew Arnold Baldwin (legal & tax). Unlike exhaust-driven turbochargers, electric superchargers are driven by an electric motor.
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. Existing investors Meituan, NIO Capital, Eight Roads, Broad Vision Funds, etc. also participated.
The company also signed a separate MOU with China Iron and Steel Research Institute Group (CISRI) and Hebei Iron and Steel Group (HBIS Group) for an equivalent aim in Jing-Jin-Ji area as it introduced Hyundai XCIENT Fuel Cell heavy-duty truck for the first time in China at the 2020 China International Import Expo (CIIE).
Gerd Wingefeld, a Member of the Board of Management of SGL Group. Hubert Jäger, Chairman of the KLiB and SGL Group Research Director. The network is subdivided into various working groups covering subjects such as reference cells, test procedures, cell production, production-oriented measuring technology, and battery safety.
At its Innovation Day event, PSA Group presented its new electrification strategy. PSA Group is consolidating the development of its models on two global modular platforms—CMP and EMP2—allowing it to offer a wide range of internal combustion, electric and plug-in hybrid gasoline models from 2019.
Ending what had extended into a longer-than-expected process of deliberation and negotiations, the Board of General Motors announced its support for a bid from the consortium of Magna International Inc. All parties will work hard to close the deal as soon as possible —John Smith, GM Group Vice President Business Development.
The European Investment Bank (EIB) will grant financing of up to €300 million (US$426 million) to Valeo for its current research projects aiming to reduce the fuel consumption and CO 2 emissions of cars and improve active safety. Tags: Europe Financing Policy Vehicle Manufacturers. Earlier post.) billion (US$4.8
Groupe PSA and Ecole Centrale de Nantes have launched of an R&D partnership to optimize powertrain design processes for the group’s future vehicles. The two parties will co-finance the project for a total amount of €4 million (US$4.7 Groupe PSA is already pioneering the digital design approach. million) over five years.
Harms previously served as CEO of Athlon Netherlands and as an Executive Vice President of Athlon Car Leasing International. Awarded last year, the project consortium, “Greening European Transportation Infrastructure for Electric Vehicles,” is the first decarbonization infrastructure project co-financed by the European Union’s TEN-T program.
Daimler Mobility AG and Geely Technology Group, a subsidiary of Zhejiang Geely Holding Group (Geely Holding), unveiled the premium ride-hailing provider StarRides in China with inaugural services to begin in Hangzhou in December 2019. StarRides will expand to other major cities in China starting in 2020.
The program is designed to ensure that fleets feel prepared to make the switch from vehicles powered by internal combustion engines to electric vehicles. Ultimately, this will allow Octillion to build market cases for traditional financinggroups eager to get into battery leasing but concerned by the technology.
One week after the Volkswagen Group announced a US$300-million strategic investment in global ride hailing provider Gett ( earlier post ), the two companies laid the cornerstone for their strategic partnership at a kick-off event at the DRIVE Volkswagen Group Forum in Berlin. —Gett founder and CEO Shahar Waiser. —Ole Harms.
PEM electrolyzer company Ohmium International closed a $45-million Series B financing round. Existing investor Fenice Investment Group led the round, with participation from current major investors and new investor Energy Transition Ventures. —Arne Ballantine, CEO of Ohmium International.
PSA Group and Dongfeng Motors (DFM) have deepened their strategic partnership with the signing of a new agreement to design an electric version of the Common Modular Platform (CMP), which they have been developing jointly since April 2015. PSA Peugeot Citroën and Dongfeng Group (DFG) entered their strategic partnership in March 2014.
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