BYD has announced it will be collaborating with ForwardX Robotics to help advance its battery production efficiency. ForwardX Robotics specialises in autonomous mobile robots (AMRs). BYD will be integrating AMRs and autonomous forklifts into its product line. This integration of ForwardX Robotics’ technology in BYD’s production processes signals to the market there is an escalating demand for EV batteries. This progression in battery technology will help increase its efficiency, accuracy, and environmental sustainability in battery manufacturing.
Wrightbus has ordered 70 hydrogen fuel cell bus engines from Ballard Power Systems. The delivery of these FCmove-HD hydrogen fuel cell engines, which will be used in single and double-decker buses, will be in H2 24. This order illustrates how demand for hydrogen-powered transit buses is growing in the UK and Europe. In yesteryears, many companies had been hesitant to adopt fuel cell technology due to limited on-road application data however in the past 5-7 years, this has changed. Furthermore, (local) governments have identified hydrogen vehicles as a long-term solution for heavier assets that travel long(er) distances and have started developing incentives and subsidies to help stimulate adoption.
JERA (a Japanese power generation company) and ReNew Energy (an Indian renewable energy company) have signed an agreement that will look into how to collaborate on a potential green ammonia plant, which would be based in India. The potential green ammonia will utilise 500MW of renewable energy to produce green hydrogen. JERA will possess the right to offtake the hydrogen carrier for use in Japan, as the firm explores using ammonia in its power plants.
WiTricity, an American wireless charging technology company, has announced it will be entering the Japanese market. WiTricity Japan KK, the new subsidiary, will collaborate with top Japanese energy firms, such as Kansai Electric Power and Mitsubishi Research Institute, which will form the EV Wireless Power Transfer Council. This Council’s mandate is to promote the adoption of wireless EV charging and vehicle-to-grid technology across the country.
Mairi McAllan, the Net Zero Secretary for Scotland, announced that the Scottish government has abandoned its target to cut greenhouse gas emissions by 75% by 2030. This announcement stems from a report the Climate Change Committee published last month, which stated that Scotland had fallen so behind on its 2030 target that it was no longer credible. The Net Zero Secretary blamed the weakened funding from the British government, as the British government still dictates energy policy. However, Scotland is still ardently committed to reaching net zero by 2045.
H2 Green Mining and Ohmium have announced they will be developing green hydrogen projects in Chile to help decarbonise mining operations. Interestingly Ohmium’s PEM electrolysers will be used to generate hydrogen for the copper smelting process, along with other thermal processes in the mines. Both companies will deliver a 20MW green hydrogen pilot project, which could scale up to 200MW. This pilot will be based in northern Chile which is known for renewable energy production from solar and wind power.
Macquarie has launched an EV financing platform, called Vertelo, for India that will focus on helping electrify fleets of commercial vehicles. Vertelo will offer financing, fleet management and charging infrastructure solutions. Vertelo plans to mobilise $1.5bn in the Indian e-mobility ecosystem over 10 years to achieve a potential lifetime reduction of c9.5 MtCO2e of greenhouse gas emissions. 95% of the capital focuses on electrification, with the rest 5% for charging infrastructure and other requirements. India has been ramping up its electrification efforts in the last 18 months, but it has a monumental hill to climb still, as many Indian cities have some of the worst pollution and air quality in the world. Thus, Vertelo is planning to buy up to 2,000 EVs from Tata Motors over the next 3 years, and up to 2,000 electric buses each from JBM Auto and Eka Mobility over the next 3-5 years, to help combat pollution and improve air quality.
Deals
Swtch Energy, a Canada-based EV charging solutions startup, has raised $27.2m in a Series B funding round. Blue Earth Capital led the round with investors such as Alantra’s Energy Transition Fund, Klima, Active Impact Investments and GIGA Investments also participating. This startup focuses on EV charging solutions for multi-tenant buildings and will use the capital raised to accelerate its deployment of charging solutions.
CarNow, an American-based live-data automotive technology platform startup, has secured $40m in growth investment from Runway Growth. This loan will help the startup expand its presence in more states in America and help accelerate its product development. Bear in mind that CarNow serves c5000 dealership customers and has more than 20 manufacturer certifications.
Verne, an American-based developer of high-density hydrogen storage systems startup, has announced a strategic fundraising led by Trucks Venture Capital, with (existing) investors such as Collaborative Fund, Amazon’s Climate Pledge Fund, United Airlines Ventures Sustainable Flight Fund and Newlab also participating. The raised capital will be used to help develop its cryo-compressed hydrogen technology for on-board hydrogen storage for heavy-duty vehicles.