Senate Finance Committee Approves $12,500 EV Tax Credit Bill

The Truth About Cars

On Wednesday, the Senate Finance Committee advanced the Clean Energy for America Act making a few tweaks from earlier proposals. The post Senate Finance Committee Approves $12,500 EV Tax Credit Bill appeared first on The Truth About Cars.

Fisker completes $50M financing; Huhnke named CTO

Green Car Congress

recently completed a $50-million Series C financing round funded by Moore Strategic Ventures, LLC, the private investment vehicle of Louis M. Cowen acted as the company’s sole advisor and placement agent on the financing. Welch has also worked extensively across the automotive industry, including positions at McLaren cars and Aston Martin. Fisker Inc.

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Europe’s Most Financed Luxury Car Brand

EV Info

Latest research from Specialist Car Finance Experts, Forza Finance , has revealed that BMW is the most popular luxury car brand to finance in 16 of Europe’s 44 countries including the UK & Ireland based on finance rather than sales or units. Porsche dominates the luxury car finance industry in the neighbouring eastern European countries of Hungary, Ukraine and Romania. Forza – Car Finance Map of Europe Infogram.

Terra Motors partners Pooja Finelease Ltd. for electric vehicle financing

Electric Vehicles India

for electric vehicle financing. India’s leading non-banking finance company for electric vehicle financing. It focuses on establishing the foundation for a sustainable mobility industry globally. Terra Motors partners Pooja Finelease Ltd.

Group14 closes $18M in financing to scale-up silicon-carbon composite anode material

Green Car Congress

Group14 Technologies announced $18 million in new financing from Amperex Technologies Limited (ATL), Showa Denko (SDK), Cabot Corporation, BASF Venture Capital, and OVP Venture Partners.

2019 222

Roskill: Rising prices could be new norm for lithium industry

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Although on paper, capacity in the pipeline appears sufficient to meet this demand growth, Roskill expects challenges and set-backs in developing, financing and commissioning lithium mining and refining operations. Falling sales in H2 2019 in China, the largest market for EVs, and a global reduction in sales caused by lockdowns related to the COVID-19 pandemic in H1 2020 slowed lithium demand growth, impacting demand from both battery and industrial applications.

Opposed-piston engine company Achates Power raises $35.2M in Series C Financing; new industry advisory board

Green Car Congress

million in Series C financing. The company also announced the formation of a new Industry Advisory Board, and its selection as a semi-finalist in the Securing America’s Future Energy (SAFE) Energy Security Prize. 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. Achates Power, Inc.,

2013 204

Capgemini and Audi launch XL2 joint venture to support digital transformation of auto industry

Green Car Congress

XL2 was founded by Audi and Capgemini to support the automotive industry in digital transformation tasks. The joint venture that focuses on consulting and technology services for cloud and SAP S/4HANA includes industry solutions such as SAP Leonardo. processes, including production planning, logistics, finance, maintenance, quality and materials management. Industry 4.0 Capgemini and Audi have launched a joint venture: XL2.

2020 170

Brightmark Energy closes $260M in financing for first US commercial-scale waste-plastics-to-fuel plant; ULSD and naphtha

Green Car Congress

Brightmark Energy , a San Francisco-based waste and energy development company, closed a $260-million financing package for the construction of the US’ first commercial-scale plastics-to-fuel plant, which will be located in Ashley, Indiana. The financing for “Brightmark Energy Ashley Indiana” includes $185 million in Indiana green bonds, which were underwritten by Goldman Sachs & Co.

2019 225

Waste-to-biofuels company Enerkem raises C$280M, its largest financing round

Green Car Congress

In addition to new investors BlackRock and Sinobioway, existing investors also participated in this financing. This new and significant financing will help accelerate our growth and further expand project development and implementation. This industrial group, affiliated with Peking University, primarily invests in bio-energy, bio-environmental protection, bio-medicine, bio-agriculture, bio-service, bio-manufacturing, and bio-intelligence. Canada-based Enerkem Inc.,

2018 183

Airbus and LM Industries create mobility startup Neorizon; digital manufacturing

Green Car Congress

Airbus and LM Industries, the the parent company of Local Motors and Launch Forth, have formed Neorizon to provide disruptive and innovative products with an initial focus on local mobility and autonomy. —Jay Rogers, CEO and founder of LM Industries. We’ve been working with LM Industries’ team at Local Motors since early 2016 when we realized the unique value proposition surrounding direct digital manufacturing and open-source design.

2019 236

Park City Transit deploying six Proterra electric buses; battery-lease financing model

Green Car Congress

The Park City region deployment not only marks the first battery-electric transit fleet for Utah and the nationwide mountain resort industry, it also represents the first implementation of Proterra’s battery-lease financing model—i.e., Park City Transit received financing for the six Proterra buses through an extremely competitive Low-No Emissions Grant with the US Department of Transportation, Federal Transit Administration (FTA).

2017 170

Shipping industry companies launch new zero-carbon shipping research center

Green Car Congress

A group of leading shipping industry companies are taking the next step to develop new fuel types and technologies by launching the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping. Møller - Mærsk, Cargill, MAN Energy Solutions, Mitsubishi Heavy Industries, NYK Lines and Siemens Energy. As an independent research center, it will work across the entire shipping sector with industry, academia and authorities.

2020 191

2015 hydrogen student design contest: hydrogen fueling station business and financing models

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The Hydrogen Education Foundation announced the 11 th annual Hydrogen Student Design Contest, which will challenge student teams to develop business and financing models for hydrogen fueling stations. Through the Contest, multidisciplinary student teams will demonstrate their talents in business, finance, engineering, public planning, architecture, marketing, and entrepreneurship.

2014 215

Ultracapacitor manufacturer Skeleton Technologies raises €3.9M (US$5.2 M) in Round A financing

Green Car Congress

Skeleton Technologies, a manufacturer of high power- and energy-density ultracapacitors ( earlier post ) has completed Round A financing of €3.9 The financing will be used for production scale-up and product development in addition to sales and marketing efforts. The total Round A financing, led by Estonian venture capital investor UP Invest AS includes the first financing tranche of €2.2

2014 213

LanzaTech secures $15M debt financing from Western Technology Investment

Green Car Congress

Waste gases-to-fuels and -chemicals technology company LanzaTech has closed on $15 million in debt financing from Western Technology Investment (WTI), a private investment firm based in Silicon Valley. LanzaTech has developed a novel biological process of carbon capture and reuse using proprietary biological microbes that can use a variety of waste gases as a nutrient source— including waste gases from industry.

Algenol closes on additional $25M internal equity financing

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Founded in 2006, Algenol converts CO 2 from industrial emitters into transportation fuels through its Direct-To-Ethanol process. With this investment, more than $260 million dollars have been invested in and granted to Algenol from BioFields and Reliance Industries, a Fortune Global 500 company based in Mumbai, India, as well as the US Department of Energy and Lee County, Florida.

2015 179

Pinnacle Engines appoints Asian Business Advisory Board; closes Series C financing

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Pinnacle Engines, developer of a highly efficient 4-stroke, spark-ignited (SI), opposed-piston, sleeve-valve architecture engine ( earlier post ), has appointed five industry leaders to its newly formed Asian Business Advisory Board. Pinnacle Engines also announced closure of its Series C financing, bringing total investment in the company to more than $30 million. BVR Subbu: A former President of Hyundai India, BVR brings extensive experience in the Asian automotive industry.

2014 240

Biomass-to-sugar company Comet Biorefining completes new round of equity financing

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Comet Biorefining, an industry leader in the production of high-purity cellulosic dextrose, has completed a round of equity financing led by new investor PM Equity Partner. Current investor Sofinnova Partners and new investor Bioindustrial Innovation Canada (BIC) also participated in the financing. Terms of the financing were not disclosed.

2017 150

Global Bioenergies picks up new €1.4M financing for isobutene program; targeting Germany expansion

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France-based Global Bioenergies, the developer of a one-step fermentation processes for the direct and cost-efficient transformation of renewable resources into light olefins, has obtained new €1.4-million (US$1.6-million) financing from Bpifrance on the isobutene program. Bpifrance granted Global Bioenergies a “Zero Percent Interest Innovation Loan” (Prêt à Taux Zéro Innovation) to adapt its isobutene process to certain specific industrial environments.

2015 184

DOE issues Request for Information on financing strategies for light-duty H2 fueling infrastructure

Green Car Congress

The US Department of Energy (DOE) has issued a Request for Information (RFI) ( DE-FOA-0001055 ) for light-duty fuel cell electric vehicles (FCEV) fueling infrastructure financing strategies within the context of an early market introduction. This input will augment financing strategies that DOE analyzes for public deployment of infrastructure for supporting FCEV introduction in US markets.

2013 225

Amyris secures $42.25M financing, begins Biofene production in Brazil

Green Car Congress

In addition, Amyris announced its purpose-built industrial fermentation facility in Brazil has successfully begun production of Biofene, Amyris’s brand of renewable farnesene. We are encouraged by the continued, strong commitment from our major investors, particularly as we start up our new industrial fermentation facility for the production of our renewable hydrocarbons in Brazil. Renewable chemicals and fuels company Amyris, Inc. has completed a $42.25

Global Bioenergies obtains €4.4M loan to complete financing of demo plant, begins construction

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Global Bioenergies, a startup developing and commercializing a fermentation process that targets gaseous isobutene, has obtained a €4.4-million (US$4.7-million) loan from a consortium of four French banks—BNP Paribas, Société Genéralé, CIC and Bpifrance—to complete the financing of its demo plant. This new financing will cover the purchase of a complete fermentation unit, comprising an inoculation fermenter, a propagation fermenter, and a 5,000L production fermenter.

2015 179

Westinghouse files for Chapter 11 protection in US and secures $800M in DIP financing to fund operations

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Westinghouse has obtained $800 million in debtor-in-possession (DIP) financing from a third-party lender to help fund and protect its core businesses during its reorganization. The DIP financing will fund Westinghouse’s core businesses of supporting operating plants, nuclear fuel and components manufacturing and engineering as well as decommissioning, decontamination, remediation and waste management as the company works to reorganize around these strong business units.

2017 175

Green Biologics secures $76M in financing; repurposing MN ethanol plant for n-butanol and acetone

Green Car Congress

In addition to the $42-million internal equity round, an additional $34 million in funding was raised predominantly in debt financing from Tennenbaum Capital Partners (TCP), along with equity and debt investment rolled over by existing members of Central MN Ethanol Co-op LLC (CMEC) in Central MN Renewables LLC (CMR), a US affiliate of GBL. Green Biologics (GBL) closed an internal follow-on equity round of $42 million co-led by Swire Pacific Limited and Sofinnova Partners.

2015 191

Audi partner Joule announces its CO2-recycled ethanol meets US and Euro specs; $40M financing

Green Car Congress

Unlike processes requiring the fermentation of sugars from corn, cellulose or other biomass materials, Joule uses engineered biocatalysts to recycle industrial CO 2 emissions directly into ethanol, avoiding the use of crops, arable land and fresh water. New financing. Joule also announced the closing of $40 million in private equity and venture debt financing, supporting the company’s growth towards commercialization.

2015 191

Tesla tweaks financing product with best resale value guarantee and lower monthly payments

Green Car Congress

In response to critiques of the first version of its financing program introduced early in April ( earlier post ), Tesla Motors has raised the Model S resale value guarantee to be the highest of any premium sedan brand made in volume (excludes rare, low volume or limited edition vehicles). Buying a Model S through the Tesla financing offering now comes with a guarantee that the resale value will be higher than that of BMW, Audi, Mercedes, Lexus or Jaguar.

2013 191

The $32-Trillion Push To Disrupt The Entire Oil Industry

Green Car Congress

Increased shareholder activism, combined with global warming policies of institutional investors and NGOs, are pushing IOCs in a corner, constricting financing options for oil companies. With less financing options for IOCs, and also oilfield services, the already existing investment gap in upstream investment worldwide will only grow wider. Mainstream investors, hedge- and pension funds, are and will be interested in financing NOCs, as long as demand and profits are there.

2019 200

Bio- and jet-fuel carinata feedstock company Agrisoma closes $15.4M Series B financing

Green Car Congress

Agrisoma Biosciences, an agricultural company that has commercialized carinata, a non-food oilseed crop designed for sustainable production of biofuels, has closed a $15.4-million Series B financing round, co-led by new investor Groupe Lune Rouge and current investors Cycle Capital Management, and BDC Venture Capital. Unlike those crops, carinata is not meant for human food consumption; the oil it produces is intended for industrial use, mainly in the production of bio- and jet-fuels.

2017 150

Plug Power, Chart Industries and Baker Hughes to become cornerstone investors in FiveT Hydrogen Fund; clean hydrogen at scale

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Plug Power, Chart Industries, Inc. Plug Power intends to commit €160 million ($200 million), and Chart Industries and Baker Hughes each intend to commit €50 million respectively ($60 million). These investments will enable FiveT to establish itself at the heart of the hydrogen industry and help advance a broader global mission to address climate change and accelerate the energy transition.

“Project Volt Gas Volt” proposes long-term financing plan to support widespread implementation of power-to-gas systems

Green Car Congress

Project Volt Gas Volt is based on a long-term financing plan and the use of existing technologies for the large-scale conversion of surplus renewable electricity to methane, with subsequent reuse. The hydrogen is combined with CO 2 to produce methane, which is pumped into and stored in the existing natural gas grid and used like natural gas for use in power generation, transportation, or other thermal and industrial uses. Financing Project VGV: the Green Redemption Fund.

2013 269

Electrovaya completes C$5M financing; new Office of Chairman

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completed a financing for C$5 million (US$4.96 This financing provides valuable working capital for future growth, including certain strategic initiatives. joint ventures, licensing, strategic investors and partnerships across the industries of electric. of the Institute of International Finance, a global association of financial institutions based in Washington, DC. Canada-based Li-ion battery maker Electrovaya Inc. million).

Calysta completes $3M Series A financing; biological conversion of methane to fuels and chemicals

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Calysta Energy completed a Series A financing round totaling $3 million. Calysta intends to use the Series A investment to advance development of biological routes to high value industrial chemicals and fuels based on methane, an advantaged feedstock from natural gas. The financing was led by Pangaea Ventures Ltd.,

2013 185

Praj Industries and Qteros partner to accelerate global commercialization of cellulosic ethanol; Qteros closes Series C financing tranche

Green Car Congress

India-based Praj Industries Limited and Qteros, Inc., the developer of a Consolidated Bioprocessing (CBP) platform for low-cost production of cellulosic ethanol using the Q-microbe ( earlier post ), have formed a strategic partnership to accelerate commercialization efforts for industrial-scale cellulosic ethanol production. Qteros also announced that it has closed the initial tranche in its Series C financing.

2011 161

EcoDual partners with VFG to provide financing for dual-fuel natural gas conversions

Green Car Congress

EcoDual, LLC, a provider of diesel-to-natural-gas dual-fuel conversion systems for heavy duty diesel powered trucks has partnered with Vision Financial Group (VFG) to provide lease-to-own financing options for fleet owners seeking to convert to natural gas operation. For more than 20 years, Vision Financial Group has been providing capital to invest in proven technologies across a wide variety of industries to include Alternative Fuels.

2012 196

Global geothermal industry passes 12,000 MW operational

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The global geothermal industry surpassed 12,000 MW of geothermal power operational, with about 600 MW of new geothermal power coming online globally, according to a year-end update by the Geothermal Energy Association (GEA). The international geothermal power industry is poised to place between 500 and 1,000 MW on line per year for the rest of the decade, said GEA.

2013 256

Valero providing construction financing for Valero-Diamond renewable diesel JV

Green Car Congress

A subsidiary of Valero Energy Corporation will provide financing to Diamond Green Diesel LLC, a previously announced joint venture project between Darling International and Valero Energy Corporation ( earlier post ), for the construction of its renewable diesel facility in Norco, Louisiana. Valero's financing commitment means that we will no longer require a funding guarantee from the US Department of Energy under the Energy Policy Act of 2005.

Renewable fuels and biochar company Cool Planet closes on $100M Series D financing

Green Car Congress

Cool Planet Energy Systems, a renewable fuels and biochar company ( earlier post ), closed on its targeted $100 million Series D financing. Cool Planet’s green fuels are chemically identical to fossil fuels, with one of the lowest capital costs in the industry.

2014 196

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). Renewables account for approximately 10-15% of the global energy infrastructure investment and according to New Energy Finance renewables have been hit hard by the global recession with a 47% in Q1 2009 vs. Q1 2008 ($13.3 The oil industry may be one of the sources of capital.

SGB cuts time to maturity with new hybrid Jatropha from 5 to 1-2 years; $11M Series C financing

Green Car Congress

In conjunction with these results, the company has closed an $11 million Series C financing to drive commercial rollout. The $11-million financing is led by SGB’s current investors including Thomas McNerney & Partners, Finistere Ventures and Flint Hills Resources (a wholly-owned subsidiary of Koch Industries). SGB Inc.,

2014 185

Enerkem raises C$59M in latest financing round; Valero Energy joins, Waste Management increases investment

Green Car Congress

Waste to biofuels and chemicals company Enerkem announced the closing of C$59 million (US$60 million) in financing. As part of this financing, Valero Energy Corp. With Valero joining Waste Management as a strategic investor, Enerkem becomes one of the very few renewable products companies that is aligned with industry leaders from both upstream and downstream parts of the business.

2011 196

Sea-Tac airport partners with Carbon War Room and SkyNRG to explore long-term financing for sustainable aviation fuels airport-wide

Green Car Congress

The Port of Seattle, SkyNRG and Carbon War Room (CWR) are partnering to investigate long-term financing mechanisms that could supply all airlines at Seattle-Tacoma International Airport (Sea-Tac) with sustainable aviation fuels. Sea-Tac is the first airport in the world to initiate this step to provide an airport-wide sustainable aviation fuel supply for all routine airline operations.

2016 196

EIB to Contribute Up to €300M in Financing to Valeo for €645M Fuel Consumption and Emissions Reduction Projects

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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. It is also important to support RDI (Research, Development and Innovation) projects with tailor-made financial products as under the EIB/European Commission’s Risk Sharing Finance Facility ”. Tags: Europe Financing Policy Vehicle Manufacturers