Here are some notable cleantech announcements of the day around the world:

The European Union has issued its very first NextGenerationEU green bond. The 15-year bond due February 4, 2037, was 11 times oversubscribed, with books exceeding 135 billion euros (~ $ 142.20 billion). Funds from the Green Bond issuance will be used to finance green and sustainable spending under the Stimulus and Resilience Facility. Eligible investments from plans already approved include a research platform for energy transition in Belgium and onshore wind projects in Lithuania. NextGenerationEU is a temporary stimulus instrument of over 800 billion euros (~ $ 924.88 billion) at current prices to support the construction of a greener, more digital and more resilient Europe. To fund NextGenerationEU, the European Commission will raise around 800 billion euros (~ $ 924.88 billion) on the capital markets by the end of 2026. This will translate into borrowing volumes of around 150 billion euros. euros on average (about 173.42 billion dollars) per year.

The government has allowed Maharatna status at the state-owned Power Finance Corporation (PFC). The move will pave the way for greater financial and operational efficiency for the company. Granting Maharatna status to PFC will give increased powers to the PFC board of directors while making financial decisions. The Board of Directors of the Maharatna Central Public Sector Enterprise (CPSE) may make capital investments to undertake financial joint ventures and wholly owned subsidiaries and undertake mergers and acquisitions in India and abroad. Investments are capped at 15% of the relevant CPSE’s equity, capped at 50 billion yen (~ $ 663.35 million) in a project. The board can also structure and implement measures relating to the management and training of staff and human resources. They may also enter into technology joint ventures or other strategic alliances, among others.

FREYR announcement joint venture (JV) with Koch Strategic Platforms (KSP) to advance the manufacture of clean battery cells in the United States. The joint venture has an equal ownership structure and was established to develop a first 50 GWh one-cell battery plant in the United States based on 24M Technologies’ SemiSolid ™ platform technology. KSP and FREYR have invested $ 70 million in convertible promissory notes with $ 24 million, under which KSP and FREYR will initially invest $ 50 million and $ 20 million, respectively. Upon closing of the convertible note financing, the JV entered into a new license agreement with 24M that will allow the JV to deploy 24M’s SemiSolid ™ platform technology with conditional limited exclusivity in the United States.

Shares and warrants of large-scale energy storage provider ESS began trading on the New York Stock Exchange (NYSE) under the new ticker symbols GWH and GWH.W. Shareholders of Special Purpose Acquisition Company (SPAC) ACON S2 Acquisition Corp voted to approve a business combination with ESS, which then continued and created the combined entity, listed on the NYSE. ESS claims to be the world’s only manufacturer of flux battery technology based on iron and saltwater electrolytes, packing them into energy storage systems for commercial and industrial (C&I) and large-scale applications. The transaction primarily includes $ 308 million in pro forma net cash for the combined company, including a private investment in public equities (PIPE). PIPE is led by institutional investors including Fidelity Management & Research Company LLC, Koch Industries, Tortoise Capital Advisors, SB Energy Global Holdings Ltd, a wholly owned subsidiary of SoftBank Group Corp., Breakthrough Energy Ventures, BASF Venture Capital and d ‘others. .

Environmental startup low soot launched a crowdfunding campaign to support green projects aimed at reducing the carbon footprint. Funds received from the crowdfunding campaign will be used to fund local communities and climate change projects. It will raise funds for local communities while offsetting their annual carbon footprint with Lowsoot. As part of this campaign, Lowsoot collects participatory funds for projects with a social and environmental impact. Lowsoot argues that people who donate enjoy tax benefits under section 80G of the income tax laws.



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