by Alicia Bennett | Mar 21, 2023 | Joint Venture & Acquisition
Chinese battery manufacturer Gotion High-Tech and Japanese energy storage developer Edison Power Co. have announced a strategic cooperation agreement to jointly tap into the energy storage market in Japan. According to a press release from the Chinese battery maker, the agreement was signed to develop the Japanese energy storage and battery recycling market and promote Gotion’s products in the Japanese market. The two companies are targeting 1GWh of sales in the first year of their partnership, rising to 2GWh per year after the second year and beyond. Under the agreement, Gotion will provide its LFP cells, modules, and BMS, while Edison will be responsible for Japanese energy storage customer management, EPC services, and energy storage system operation and maintenance. Notably, Gotion said it will also work to provide a battery recycling facility in Japan for recycled energy storage batteries. If completed, the facility will…
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by Alicia Bennett | Mar 6, 2023 | Joint Venture & Acquisition
Chinese battery manufacturer Farasis Energy has announced it will begin supplying sodium-ion battery packs to Renault majority-owned Jiangling Motors Electric Vehicle (JMEV). The packs are expected to be used in the company’s small EV model the EV3. Farasis Energy released plans for a new lithium-ion gigafactory to be built in Jiangzi province, China, in August 2022 with an eventual annual production capacity target of 30GWh. Recently, the company announced that some of the production lines have been converted for the production of sodium-ion batteries, which has reportedly enabled mass production of the sodium-ion powered EV3 before the 30 June 2023.
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by Louis | Mar 1, 2023 | Joint Venture & Acquisition
Below is Rho Motion’s Energy Transition Finance Tracker, for February 2023. We track energy transition related companies going public through IPO or a merger with a SPAC, in order to provide a monthly update on market status.
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by Alicia Bennett | Feb 2, 2023 | Joint Venture & Acquisition
On the 31 January 2023, American vehicle manufacturer General Motors (GM) and Lithium Americas, a lithium mine developer, announced they will jointly invest in the advancement of the Thacker Pass lithium mine in Nevada – the largest known source of lithium in the US. The financing agreement sees GM carrying out a USD650 million equity investment in Lithium Americas, in return gaining exclusive access to the mined lithium from Phase 1 of production and the offer of priority access for Phase 2 of production.
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by Alicia Bennett | Jan 16, 2023 | Joint Venture & Acquisition
Battery cell manufacturer FREYR and Impact Clean Power Technology, a battery systems manufacturer for a wide range of end-use applications, have signed a conditional offtake agreement (COA) for the supply of LFP battery cells. The COA establishes that FREYR will supply 10-14GWh of LFP cells to Impact Clean Power Technology from 2025 to 2030. The cells, manufactured at FREYR’s Giga Arctic production site in Mo i Rana, Norway, are based on 24M Technologies’ SemiSolidTM platform.
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by Alicia Bennett | Jan 12, 2023 | Joint Venture & Acquisition, Uncategorised
Three leading heavy-duty truck OEMS Volvo Group, Daimler Truck and Traton Group (Scania and Volkswagen) have partnered to form a joint venture (JV) to establish a pan-European charging network. The JV “Milence” (formerly Commercial Vehicle Charging Europe) aims to install 1,700 truck charging stations by 2027 to enable long-haul electric truck transportation, and has begun commercial operations. On-site batteries will also be used at charging locations to decrease peak energy demand, reduce grid congestion, and to power trucks using green energy stored in the battery systems.
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Image credit: Adobe Stock
