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Mayor of London announces £70M+ green fund to finance low carbon waste and recycling infrastructure

Green Car Congress

The Mayor of London, Boris Johnson, announced an innovative fund totalling at least £70 million (US$114 million) which will finance low carbon waste and recycling infrastructure. The London Green Fund is the first UK fund to combine European, public and private finance to invest in environmental infrastructure.

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H2X Global secures US$57M from Verde Mobility to deliver on US$300M in fuel cell vehicle orders

Green Car Congress

The deal will finance the delivery of H2X Global’s US$300 million in purchase agreements for vehicles that include the Warrego (utility vehicle), Paroo (garbage/deliver/concrete trucks), and Swan (passenger bus). The funds will also support H2X Global’s planned listing on the London Stock Exchange.

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Geely raises $400M via Green Bonds sale to develop and produce TX5 range-extended electric London taxis

Green Car Congress

China’s Zhejiang Geely Holding Group (ZGH) has raised $400 million through the first Green Bond sale on the offshore market from a Chinese automobile company to support the design, development and production of range-extended electric vehicles by its UK subsidiary, the LondonTaxi Company (LTC), manufacturer of the iconic London Black Cab.

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Volkswagen Group and ride-hailing provider Gett to expand on-demand mobility solutions & activities in Europe

Green Car Congress

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. —Ole Harms.

Europe 150
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Vedanta secures 11-year INR 3,900 cr loan from PFC – ET Auto

Baua Electric

Mining conglomerate Vedanta Ltd has secured an 11-year term loan of INR 3,918 crore from Power Finance Corporation Ltd ( PFC ), sources said. The group plans to increase the operating capacity of its power business in India to 4.8 Vedanta’s power strategy is in focus amid the group’s ongoing demerger.

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Partners launch $51M hydrogen fuel cell vehicle and infrastructure project in Europe

Green Car Congress

Automakers, hydrogen fuel suppliers, the Mayor of London’s Office and energy consultancies launched the £31-million (US$51-million) European HyFive project at City Hall in London. Locations are being sought for three new hydrogen refueling stations in London, one in Aarhus and in Odense (Denmark) and one in Innsbruck (Austria).

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Volkswagen, Stellantis and Glencore backing ACG in $1B purchase of Brazilian nickel sulfide and copper mines

Green Car Congress

Volkswagen, Stellantis and Glencore are supporting the purchase of the Atlantic Nickel nickel sulfide and the Mineraçao Vale Verde copper mine in Brazil by ACG , a London-listed special purpose acquisition company (SPAC), for US$ 1 billion. They have a combined 2022 Adjusted EBITDA of $260 million.

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