Workhorse Group secures $35M in financing from Marathon Asset Management; $1.3M battery purchase by Duke Energy

Green Car Congress

a manufacturer of electric-mobility solutions to the transportation sector ( earlier post ), closed a $35-million financing with Marathon Asset Management. The proceeds will be used for current working capital, parts acquisitions to fulfill existing and future customer purchase orders and contracts as well as to satisfy full repayment of the senior secured notes incurred in July 2018. Workhorse Group Inc.,

2019 219

Workhorse secures $200M in financing from institutional lenders

Green Car Congress

a provider of cost-effective drone-integrated electric vehicles to the last-mile delivery sector, has entered into a note purchase agreement (NPA) under which it will sell $200 million aggregate principal amount of its 4.0% 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. Workhorse Group Inc.,

2020 170
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Workhorse receives purchase order for 500 C-1000 electric delivery trucks from Pritchard Companies

Green Car Congress

received a purchase order for 500 of its all-electric C-1000 delivery vehicles from Pritchard Companies. Inventory financing will be provided by Hitachi Capital America as part of Workhorse’s previously announced strategic partnership with HCA. Workhorse Group Inc.

2020 274

Workhorse receives purchase order from Pride Group Enterprises for 6,320 C-Series electric delivery vehicles

Green Car Congress

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.

XPeng enters into cooperation agreement for new smart EV manufacturing base in Guangzhou; $586M in financing

Green Car Congress

According to the terms of the Cooperation Agreement, Guangzhou GET Investment agrees to provide RMB 4 billion (US$586 million) in financing to help fuel XPeng’s growth as well as support the construction of a new smart EV manufacturing base for XPeng in the Guangzhou Economic and Technological Development Zone. Early in August, Xpeng reported closing a US$900-million C+ financing round.

2020 161

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. These RIN credits are purchased by US refiners to comply with the RFS program. This new and significant financing will help accelerate our growth and further expand project development and implementation. Canada-based Enerkem Inc.,

2018 183

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

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. Echo Automotive, Inc.,

GE Capital to provide financing for electric motorcycle maker Brammo

Green Car Congress

GE Capital’s Commercial Distribution Finance (CDF) business has agreed to provide Brammo Inc. with inventory financing to support the expansion of its dealer network in the US. CDF already provides inventory financing for other brands of alternative fuel and hybrid motorsports products. This type of arrangement, also known as floorplan financing, allows dealers to stock, market and sell a wide variety of motorcycles and related products from manufacturers.

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

EV Life

The average California driver qualifies for over $10,000 in EV rebates and tax credits, but incentives can take 12 to 18 months to recoup post-purchase. With the threat of climate change, we can’t afford to wait until 2024 for the purchase price of EVs to be cost-competitive.

2020 83

Blue Marble Biomaterials completes site purchase for large commercial biorefinery

Green Car Congress

Blue Marble Biomaterials, a specialty biochemical manufacturer ( earlier post ), has closed on the purchase of the former GTC Oats Inc. The purchase includes 3.81 Blue Marble Biomaterials expects to see significant growth in the coming months, as the site purchase comes just as Blue Marble begins closing a $15-million debt financing deal through the USCIS EB-5 Program.

2013 191

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. The terms of the equity transaction include a warrant giving NRG the right to purchase an additional 2.0 The company’s project finance subsidiaries may draw on the facility to finance the construction of projects through the commercial operating date (COD) of the power plants. FuelCell Energy, Inc.,

2014 210

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

Drive EV

Throughout March, PEUGEOT is also offering an additional £500 support in deposit contribution on PCP contracts and cash purchases. The post PEUGEOT charges ahead with revised pricing and finance offers for PEUGEOT e-2008 and e-208 appeared first on driveEV.

Global Bioenergies receives 13 LOIs for purchases covering the capacity of its renewable isobutene and derivatives plant

Green Car Congress

Global Bioenergies has received 13 letters of intent from French and international industrial leaders for purchases totaling 49,000 to 64,000 tons of isobutene and derivatives annually. The investment bank Vulcain is assisting IBN-One in putting together the financing package and identifying financial partners for the project.

2018 186

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

Green Car Congress

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

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

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 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. Bruno Linsolas, retired senior vice president of purchasing at Volvo Powertrain, former chairman of Volvo Group purchasing and former executive vice president of purchasing at Mack Trucks. Achates Power, Inc.,

2013 204

Exelon to provide financing for 21MW of Bloom Energy SOFC projects at 75 commercial facilities

Green Car Congress

Exelon Corporation will provide equity financing for 21 megawatts (MW) of Bloom Energy solid oxide fuel cell (SOFC) projects at 75 commercial facilities in California, Connecticut, New Jersey and New York. As the first step in a long-term strategic partnership with Bloom Energy, Exelon will finance Bloom Energy projects through Bloom Electrons, a service that allows customers to buy power as a service, rather than purchasing the equipment directly.

2014 185

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

Green Car Congress

completed a financing for C$5 million (US$4.96 note in the aggregate principal amount of C$5 million and 500,000 common share purchase warrants. Each share purchase warrant is convertible into one common share of the corporation. This financing provides valuable working capital for future growth, including certain strategic initiatives. of the Institute of International Finance, a global association of financial institutions based in Washington, DC.

Tesla introduces financing product for Model S customers; lease-sale hybrid

Green Car Congress

Tesla Motors, in partnership with Wells Fargo and US Bank, has created an automotive financing product that combines elements of ownership and leasing for Model S customers. Elements of the new program include: US Bank and Wells Fargo have agreed to provide 10% down financing for purchase of a Model S (on approved credit.).

2013 185

PGE and SunRun Create $100M Home Solar Financing Fund

Green Car Congress

a provider of home solar financing, announced a $100-million tax equity project financing agreement to fund SunRun’s installation of more than 3,500 new home solar installations across the nation. The investment, principally funded by PG&E Corporation shareholders through Pacific Energy Capital, creates the largest residential solar financing vehicle established to date. Pacific Energy Capital II, LLC, a non-utility subsidiary of PG&E Corporation, and SunRun Inc.,

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.

AeroVironment EV dealer program bundles home charger, installation, and warranty with car purchase

Green Car Congress

launched a dealer program that provides turnkey residential charging packages to consumers purchasing new electric vehicles (EVs) or plug-in hybrids (PHEVs) and allows them to finance the charger in combination with the vehicle at the time of sale. Through AeroVironment’s dealer program, new owners can now purchase an EVSE-RS Level 2 240 Volt residential charging station that reduces charge time by more than half, from up to 22 hours to between 3 and 8 hours.

2013 191

California ARB seeking Grantee to administer pilot project for enabling disadvantaged communities to purchase advanced tech vehicles

Green Car Congress

The California Air Resources Board (ARB or Board) is soliciting Grantee(s) to administer the Light-Duty Financing Assistance Pilot Project in Disadvantaged Communities. The Financing Assistance Pilot Project is one project in the Fiscal Year 2014-15 Air Quality Improvement Program and Low Carbon Transportation Greenhouse Gas Reduction Fund Investments.

2015 161

Los Angeles to lease 160 BEVs, 128 PHEVs as part of commitment to 50% EV purchases by 2017

Green Car Congress

These leases will deliver on the pLAn’s commitment to ensure that 50% of the City’s annual light-duty vehicle purchases are EVs by 2017. This also marks a big step toward the pLAn’s longer-term target to have 80% of city vehicle fleet purchases be EVs by 2025. The department has also already purchased 23 electric scooters and 3 electric motorcycles for use by patrol officers.

SolarCity and Honda establish investment find to finance $65M in solar projects for Honda and Acura customers

Green Car Congress

The partnership establishes an investment fund to finance $65 million in solar projects to assist Honda and Acura customers with the initial cost of solar power installation. A 20-year lease or power purchase agreement term applies. SolarCity and American Honda Motor Co., are partnering to make solar power more affordable and available to Honda and Acura customers in the US, providing a cleaner source of electricity at a lower cost than utility-supplied power.

2013 191

Koenigsegg Group AB Terminates Agreement For Purchase of Saab

Green Car Congress

Koenigsegg Group AB has terminated the agreement for its proposed purchase of GM’s Saab. We’re obviously very disappointed with the decision to pull out of the Saab purchase. GM and Koenigsegg had signed a stock purchase agreement regarding the sale of 100% of the shares of Saab Automobile AB in August. GM is also currently working to sort out the reorganization and financing of Opel following its decision not to sell.

2009 179

American Suzuki Motor receives bankruptcy court approval of up to $100M in Debtor-In-Possession (DIP) financing

Green Car Congress

American Suzuki Motor Corporation (ASMC) has received court approval for Debtor-In-Possession (DIP) financing. As a result, the Company will be able to borrow up to $50 million for operations and up to $50 million for purchases of inventory from Suzuki Motor Corporation (SMC). ASMC intends to use a portion of the DIP funds to purchase and ship 2,500 additional cars from Japan to the continental US, which have been manufactured since ASMC announced its restructuring.

2012 191

Consumer car finance goes from strength to strength

Green Cars News

Four out of five private new cars are purchased using some form of point-of-sale finance, according to the the latest stats from the Finance and Leasi. Fleet news FLA

2016 33

CODA reaches preliminary agreement with Essex Credit Corporation to finance CODA EVs

Green Car Congress

CODA Automotive and Essex Credit Corporation, a subsidiary of Bank of the West, have reached a preliminary agreement to provide financing for customers of the 2011 CODA Sedan. Customers who purchase an all-electric vehicle from CODA will have the option of applying for credit from their financial institution of choice or directly on the CODA website via an Essex portal.

2010 161

A123 Systems receives interim court approval of $50M DIP financing from Wanxiang; responds to objections from Wanxiang, Fisker and others on asset sales process

Green Car Congress

announced that the United States Bankruptcy Court for the District of Delaware (the "Court") has granted A123 interim approval to use $50 million of Debtor-in-Possession (DIP) financing, which is being provided by Wanxiang Group Corporation (Wanxiang). The financing supplements the pre-petition $22.5 A hearing on bidding procedures with regard to the previously announced asset purchase agreement with Johnson Controls, Inc. Li-ion maker A123 Systems, Inc.

2012 196

Personal Contract Purchase: how many people actually purchase?

Green Cars News

According to the Finance and Leasing Association, four out of five people opt out of the final ‘balloon’ payment at the end of Personal Contract Purch. ContractHireAndLeasing.com Leasing

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). The second step models the proportion of consumers within the addressable market that might actually purchase such a vehicle. Bloomberg New Energy Finance estimates that in 2011, the GM Volt will be targeting an addressable market of 7% of total US auto sales, and the Nissan Leaf 11%.

2010 238

EPA Awards $20M in Recovery Act Funding for Clean Diesel Finance Program

Green Car Congress

The US Environmental Protection Agency (EPA) announced three recovery act grants totaling $20 million in funding for the SmartWay Clean Diesel Finance Program. These recovery act grants will fund the purchase of new, cleaner or retrofitted vehicles and equipment. Overall, the recovery act allotted $300 million for the National Clean Diesel Campaign, $30 million of which will fund SmartWay Clean Diesel Finance Program grants.

2009 150

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 ”. The gas tax, which is not currently indexed to inflation, has lost 1/3 of its purchasing power since 1993, the last time the tax was increased.

US Treasury To Provide Up To $5B in Financing For Auto Supplier Support

Green Car Congress

While the President’s Task Force on the Auto Industry continues to review restructuring plans submitted by General Motors and Chrysler, the US Department of the Treasury announced an Auto Supplier Support Program that will provide up to $5 billion in financing to US-based suppliers. General Motors and Chrysler have already agreed to participate in the program, and will have fully operational purchase programs established shortly.

2009 150

Tesla Model 3 revealed as having the highest EV sales volume worldwide

EV Info

Tesla’s Model 3 achieves the highest sales volume worldwide being the top model purchased in 19 countries worldwide . EV sales are also predicted to accelerate in the latter end of 2020 as vehicles continue to become more affordable and Britons realise they can save money on bills by purchasing one. EV News Finance and grants Sales and marketingJust last week our Government cut the EV grant by £500 and now excludes EVs that cost more than £35,000.

Tesla Motors Announces New Stock Sale Of $500 Million

Green Car Reports

The California company announced this morning it would offer $500 million in new common stock And, the company noted, CEO Elon Musk "intends to purchase $20 million of common stock in this. Finance Elon Musk Tesla Motors plug-in cars Stock MarketIt had to come, and it did: Tesla Motors is selling more stock to bolster its cash position as it prepares to launch its second high-volume electric car.

2015 127

Zero Motorcycles Announces Consumer Financing

All Cars Electric

I received the following in an email from Zero Motorcycles: "We are excited to announce that consumer financing is now available for all of our motorcycles. This means that you can purchase a Zero S or DS for as low as $290 a month after your deposit or one of our off-road motorcycles for even less. Unlike a typical loan, you can also

Wanxiang and GreatPoint Energy close $1.25B deal for 1 Tcf/year coal-to-natural-gas plant in Xinjiang; Sinopec to purchase output, building pipeline to east

Green Car Congress

billion from Wanxiang to finance and construct the first phase of a coal-to-natural gas facility that ultimately will have an annual production capacity of one trillion cubic feet (1 Tcf) (30 billion cubic meters) per year. Sinopec), China’s largest company by revenue, has agreed to purchase the natural gas produced from the facility and has already announced plans to construct a pipeline to deliver the gas to the eastern region.

2012 196

Valence Technology Receives Equity Commitment Investment Fund to Purchase up to 16.9M Shares over Next 12 Months

Green Car Congress

a US-based, international developer of lithium iron magnesium phosphate batteries, entered into a common stock purchase agreement with Seaside 88, L.P., Under the terms of the agreement, Seaside has committed to purchase up to 16.9 million Valence common shares, in a series of closings every two weeks in the amount of 650,000 shares each for a total of up to 26 purchases. Valence Technology, Inc.,

2009 150

Fitch Ratings: US automakers well positioned for weak demand in 2012; estimates break-even for Detroit 3 at 10.5M units

Green Car Congress

This growth will be driven largely by modestly improving economic conditions and pent-up demand pressure, with the latter resulting from consumers putting off car purchases over the past several years. vehicle age in the US nears 11 years, an increasing number of drivers can no longer delay a vehicle purchase. Financing Market Background Sales Vehicle Manufacturers

2012 170