Workhorse secures $200M in financing from institutional lenders

Green Car Congress

million and will be used to increase and accelerate production volume, advance new products to market, replace previous higher cost financings, and support current working capital and other general corporate purposes. With this financing in place, we can more quickly advance our production efforts heading into 2021 by increasing our supply chain component volumes, hiring more manufacturing employees and automating certain sub-assembly processes. Workhorse Group Inc.,

2020 174

Gevo closes $25.9M financing with Whitebox Advisors

Green Car Congress

a leading renewable technology, chemical products, and next generation biofuels company, has closed a private debt financing with Whitebox Advisors LLC consisting of a senior secured term loan exchangeable into senior secured convertible debentures. The term loan is exchangeable into convertible debentures within 90 days of the closing of the financing, subject to certain ownership limitations. million in convertible debentures within 90 days of closing of the Financing.

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Average price of new light trucks in 2019 was 43% higher than average price of new cars

Green Car Congress

Prices for new light trucks—pickups, vans, and sport utility vehicles (SUVs)— averaged 43% more than new cars in 2019. From 1990 to 1995, cars had a higher average price than light trucks. Price data are adjusted for inflation (constant 2019 dollars).

2019 227

Nesscap completes US$1M convertible note financing

Green Car Congress

The offering constituted the second tranche of the bridge financing previously announced on 8 April 2014. The Note has a maturity date of 1 April 2015; the conversion price is CAD 0.10 Ultracapacitor company Nesscap Energy Inc. has completed a non-brokered private placement of a US $1,000,000 Convertible Note with I2BF Energy. The proceeds will be used for working capital. per common share; the interest rate is 10% per year.

PEUGEOT charges ahead with revised pricing and finance offers for PEUGEOT e-2008 and e-208

Drive EV

With revised pricing for all e-2008 models and enhanced deposit contributions for the e-208 range, Peugoet is latest manufacturer to respond to the recent overhaul of the UK Government’s Plug-in Car Grant. This move follows Citroen, Vauxhall and Kia who have adjusted their prices.

2015 Nissan Leaf: Discounts, Deals On Leases, Financing Increase

Green Car Reports

car buying plug-in cars deals lease priceIf you're considering a 2015 Nissan Leaf electric car, now might be a good time to make your move. Sales have stayed essentially flat for the past few months, and more cars are starting to come off leases. Amid those market currents, Nissan is boosting incentives on the five-door hatchback. DON'T MISS: Best Deals On Hybrid, Electric, Diesel Cars.

2015 120

PHEV conversion company Echo Automotive completes $3M financing, joins CALSTART

Green Car Congress

a developer of technologies enabling the conversion of existing fleet vehicles into plug-in hybrid electric vehicles, completed a $3-million financing with United Fleet Financing, LLC, through a private placement offering and mezzanine financing. per share and one warrant exercisable to purchase one and one-quarter (1.25) shares of common stock at an exercise price per share of $0.65. per share and warrant rights with a strike price of $0.65.

2013 195

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 174

Roskill: Rising prices could be new norm for lithium industry

Green Car Congress

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. In its second quarterly update to its Lithium: Outlook to 2030, 17 th Edition report, Roskill maintains the view that future refined lithium supply will remain tight, with a period of sustained supply deficit in the mid-2020s.

EV battery pack prices fell 13% in 2020, some are already below $100/kwh

Green Car Reports

Electric-car battery-pack prices have fallen 13% in 2020, in some cases reaching a crucial milestone for affordability, according to an annual report released Wednesday by Bloomberg New Energy Finance (BNEF).

2020 159

NRG invests additional $35M in FuelCell Energy for 6% of company; establishes $40M financing facility

Green Car Congress

FuelCell Energy intends to use the net proceeds from the offering for project development, project finance, working capital support and general corporate purposes. million shares of common stock at a price $3.35 In addition to the common stock investment, NRG Energy has extended a $40 million revolving construction and term financing facility for the purpose of accelerating project development by FuelCell Energy and its subsidiaries. FuelCell Energy, Inc.,

2014 212

EV Life is awarded CalSEED grant from the California Energy Commission to make financing electric cars cheaper than gas vehicles.

EV Life

We are honored to have received this CalSEED award and are excited to begin building our incentive-based finance platform that will change the economics of owning an electric car, especially for drivers in disadvantaged communities.”.

2020 83

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 230

CO2-to-chemicals company Liquid Light raises $15M Series B financing; process scale-up and application validation

Green Car Congress

Start-up Liquid Light, a developer of process technology to make major chemicals from low-cost, globally-abundant carbon dioxide ( earlier post ), has closed a $15-million Series B financing. The financing was completed at a significant increase in company valuation. Customers can benefit from a lower cost of production, while harnessing their current waste stream; reduce their dependence on cyclically-priced petroleum feedstocks; and can reduce their carbon footprint.

2014 195

Omnitek Engineering completes $5M placement; financing to facilitate diesel to natural gas truck engine conversion sales

Green Car Congress

Under the terms of the financing, the company will issue shares of common stock at a price of $2.12 and warrants to a group of investors at an exercise price of $3.88, with a five-year term. The completion of this financing will greatly accelerate the build out of our national network of diesel-to-natural-gas conversion facilities.

2012 207

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 by Bill Cooke.

Panda Power finances conversion of retired coal plant to natural gas; one of largest power conversion projects in US

Green Car Congress

Panda Power Funds has financed the 1,124 megawatt Panda “Hummel Station” power plant—one of the largest coal-to-natural gas power conversion projects in the United States. The 400 MW, 65-year old plant was shuttered in 2014 in response to low natural gas prices and the onset of strict environmental regulations promulgated by the Obama Administration.

2015 188

Transportation Sec. Buttigieg: Buy an EV and ‘never worry about gas prices again’

Teslarati

Transportation Secretary Pete Buttigieg said earlier today during an interview on MSNBC that those who purchase electric vehicles will “never have to worry about gas prices again,” as fees at the pump have continued to rise over the past year.

Buy 114

Lux Research: smart grid, energy storage, and EV M&A hits $2.4B in 1H 2011; start-ups selling at bargain prices

Green Car Congress

As VCs have withdrawn from the smart grid, energy storage and EV sectors, they’ve left a crowded landscape of stranded, early-stage ventures without any means to finance demonstration pilots or manufacturing scale-up. Batteries Electric (Battery) Financing Smart Grid

2011 254

EV Battery Cell & Pack Prices Dropping At Surprising Rate

Get Electric Vehicle

Battery prices have dropped dramatically over the years, and though there may be some fluctuations it appears that they will continue to do so at a rapid pace. According to Bloomberg New Energy Finance’s annual battery survey, annual battery pack prices fell 6% from 2020 to 2021.

Venchurs CNG aggressively prices 6.2L CNG conversions

Green Car Congress

F-250 and F-350 CNG conversions (bi-fuel and dedicated) with a 23.5GGE system utilizing the new 3M tank, all priced at $8,350. The company says this is the industry leading price point for such as system. We believe that our new price point will help move the industry forward, increasing the speed of adoption by fleet customers and retail customers alike. Because Venchurs is a QVM, the original Ford warranty stays intact and the conversion can be financed through Ford Credit.

2013 241

Bloomberg New Energy Finance forecasts plug-in electric vehicles could account for up to 9% of US auto sales in 2020 and 22% in 2030

Green Car Congress

million and 4 million vehicle sales respectively), according to research company Bloomberg New Energy Finance (BNEF). However, achieving such growth level will be dependent on two key factors: aggressive reductions in battery costs and rising gasoline prices. In the short term, price will be the most significant limitation to the uptake of both plug-in hybrid vehicles like the GM Volt and fully electric vehicles such as the Nissan Leaf, BNEF said.

2010 238

Tesla (TSLA) gets higher price target from Mizuho Securities ahead of Q1 earnings

Teslarati

Despite recent headwinds seemingly brought about by a tragic Model S crash in Texas this weekend, Tesla ( NASDAQ:TSLA ) is still receiving some positive outlooks from noted finance firms in the lead up to its first-quarter earnings call.

Buy 113

EV maker Rivian closes $1.3B funding round led by T. Rowe Price

Green Car Congress

The financing was led by funds and accounts advised by T. Rowe Price Associates, Inc. Rivian has closed an investment round of $1.3 billion. Amazon, Ford Motor Company and funds managed by BlackRock also participated in the round. The investment announcement is Rivian’s fourth of 2019. In February, Rivian announced a $700-million funding round led by Amazon.

2019 163

Commentary: Could falling oil prices spark a financial crisis?

Green Car Congress

Not only has financing come from company shareholders and traditional banks, but hundreds of billions of dollars have also come from junk-bond investors looking for high returns. For investors, this offers the opportunity for high yield, which is why hundreds of billions of dollars helped finance companies in disparate parts of the country looking to drill in shale. The situation will compound itself if oil prices stay low. by Nick Cunningham of Oilprice.com.

2014 230

Westport Launches First Global Carbon Finance Program for Transportation Registered to the Voluntary Carbon Standard

Green Car Congress

Westport and CWI natural gas powered vehicles sold since 1 January 2009 will be eligible for carbon credits based on an agreed price per tonne. Grütter Consulting is a leading advisory firm on carbon finance and transport with activities worldwide. Westport Innovations Inc., in collaboration with Grütter Consulting , has launched a program to monetize the carbon emission reductions associated with Cummins Westport (CWI) and Westport HD natural gas engines.

2010 183

Supplies may be less of a problem for lithium than financing, report

Green Car Reports

As if to confirm one of the biggest concerns of electric-car doubters, lithium prices have tripled since 2015. Not to worry, say those who sell electric cars, the world has no shortage of raw lithium; new businesses just need to jump into the opportunity to open new mines to extract more of the material. Things are not always as simple as they. lithium

2018 67

EV Grants slashed overnight

EV Info

On March 18th with no warning or discussion the EV grants used to help finance an EV or Plug in were removed, Plug-in car grant drops from £3k to £2.5k. Electric cars are already expensive and adding more to the price is a dead certain to slow down the ramp. Since the announcement a number of EV manufactures have either increased their own finance offer or reduced their pricing. . EV News Finance and grants

Grant 63

Oil Well Strippers Suffering From Low Oil Prices

Green Car Congress

With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely, it now appears that oil prices could remain below $50 a barrel for a year or more. These stripper wells are ones that are mostly likely to start shutting down over the next few months as hope for a fast rebound in oil prices finally goes out of the markets. The last time there was an oil price crash this severe was in the mid-1980s.

2015 183

Ford reveals specs for F-150 Lightning Pro: Price, Range, and Features

Teslarati

The commercial centers will handle sales, service, financing, and charging solutions. The post Ford reveals specs for F-150 Lightning Pro: Price, Range, and Features appeared first on TESLARATI. Ford released details on the F-150 Lightning Pro variant recently.

F-150 107

IHS Markit: US oil production growth heading for a major slowdown, as capital discipline and weak prices play out

Green Car Congress

This comes at a time when companies are facing a prolonged period of lower prices and when access to financing from capital markets has become difficult, the report says. The combination of closed capital markets and weak prices are pulling cash out of the system. Investors are imposing capital discipline on E&P’s by pushing down equity prices and pushing up the cost of capital on debt markets.

2019 163

Average price of new light vehicles in US hit high in 2016; driven up by trucks; cars moving in opposite direction

Green Car Congress

The average price of a new light vehicle (including both cars and light trucks) was up to a record $31,790 in 2016, up from the most recent low of $28,243 in 2008. However, the price increase is driven by light trucks, with the $35,289 average truck price for 2016 beaten only by the $35,997 average in 2015, according to data gathered by the US Department of Energy (DOE). Prices are sales-weighted average transaction prices adjusted for inflation.

2017 163

Report: EV battery costs hit another low in 2021, but they might rise in 2022

Green Car Reports

Global average battery prices fell 6% between 2020 and 2021, but they might be on the rise going forward, according to Bloomberg New Energy Finance's (BNEF) annual battery price survey.

Congressionally-created Commission Recommends Mileage Tax Instead of Fuel Tax for Transportation Infrastructure Financing

Green Car Congress

a federal mileage fee—as a way to reform financing of the US transportation infrastructure. The recommendation is part of the final report issued by the National Surface Transportation Infrastructure Financing Commission, “ Paying Our Way: A New Framework for Transportation Finance ”. An ever-expanding backlog of investment needs is the price of our failure to maintain funding levels—and the cost of these investments grows as we delay.

Renault Enters Two New EV Partnerships with Global Financing and Fleet Management Companies

Green Car Congress

Renault has entered two new EV partnerships: one with Arval, a BNP Paribas subsidiary; the other with ALD Automotive, a global provider of financing and vehicle fleet management services. It focuses especially on research into customer pricing appropriate to this type of vehicle. Arval is a major player in multi-brand full service leasing and corporate fleet management, with 602,000 vehicles leased and 688,000 vehicles managed in 22 countries at the end of 2008.

2009 150

DOE to fund development of processes to aggregate purchases of alt-fuel and advanced vehicles; goal is cost reduction and accelerated adoption

Green Car Congress

DOE plans ( DE-FOA-0001236 ) to issue in the February 2015 timeframe a funding opportunity (DE-FOA-0001237) to develop and to implement effective purchasing/procurement processes designed to coordinate and consolidate bulk alternative fuel vehicle and advanced vehicle orders and thus reduce the per-unit prices of commercially-available vehicles. Projected volume price reduction when compared to current commercially-available singular alternative fuel vehicle and advanced vehicle prices.

2014 183

BNEF: Oil price plunge to have only moderate impact on low-carbon electricity development, but likely to slow EV growth

Green Car Congress

The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. However, the slump in the Brent crude price per barrel from $112.36 For example, if lower oil prices last, they are likely to slow the growth of the electric vehicle market, to some extent.

2014 228

Lightning Systems accepting orders for LightningElectric battery-electric upfit for Ford Transit; price and specs

Green Car Congress

Ford’s vehicle warranty covers the base chassis for vehicles with the LightningElectric upfit, and Ford Motor Credit financing is available. EV Conversion Price $69,000 $89,000. Lightning Systems is accepting pre-orders for its new all-electric LightningElectric system for Ford Transit. Earlier post.) The LightningElectric battery conversion package is available for Ford Transit as part of Ford Motor Company’s eQVM program.

2017 174

Daimler restructures cooperation with Tesla; termination of share-price hedging and sale of 4% stake

Green Car Congress

Daimler has terminated the share-price hedge it initiated in 2013 and has sold its stake in Tesla of approximately 4%. —Bodo Uebber, Member of the Board of Management of Daimler AG for Finance & Controlling and Financial Services. Daimler AG has restructured its cooperation with Tesla Motors. The cooperation between the partners on the automotive projects is unaffected.

2014 244

Opinion: Oil Price War May Benefit both US Shale and Saudi Arabia

Green Car Congress

Even as financial commentators on CNBC are starting to come around to the idea of a bottom in oil prices, the key question for US oil producers remains one of timing. How long will the oil price slump last? After the oil price crash in 1985, it took almost twenty years for prices to revert to previous levels. The long-time king of the oil markets is probably the party most responsible for the current price decline, and probably the party that is happiest about it.

Senators Sanders, Boxer propose legislation to institute GHG price on large stationary sources and remove support for fossil fuel industries

Green Car Congress

introduced legislation that would set an escalating fee on greenhouse gas emissions from large stationary sources to fund investments in energy efficiency and sustainable energy technologies and also provide rebates to consumers to offset increases in energy prices. The legislation also proposes numerous actions against financing and support for fossil fuel industries. Among the financing provisions of the legislation are: Price on carbon. Bernie Sanders (I-Vt.)

2013 223

Price Parity is Not the Key to EV Adoption in the US

EV Adoption

EV Price Parity With ICE Vehicles Is Fast Approaching. A lot of electric vehicle observers, analysts, and pundits like to say that, “When electric vehicles reach price parity with ICE vehicles – it’s game over gas-powered vehicles.”

Australia PM Gillard announces carbon pricing plan; transport fuels exempt, but lowered fuel tax credits to bring carbon price to some businesses

Green Car Congress

Australia Prime Minister Julia Gillard unveiled Australia’s carbon pricing plan—a core element in a new clean energy plan—in a short address to the nation. The Government intends to introduce legislation to underpin the carbon pricing mechanism into Parliament in the second half of 2011. For the first three years, the carbon price will be fixed, before moving to an emissions trading scheme in 2015.

2011 183