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Northvolt Closes in on $300 Million Rescue Package to Stay Afloat

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Combination of shareholders, lenders and customers are participating in the bridge funding Bloomberg News Northvolt AB is closing in on a US$300 million rescue package that includes debt and equity, according to people familiar with the matter, buying time for the cash-strapped Swedish battery maker to stabilize production and line up longer-term financing. A combination of …

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Northvolt to Cut 20% of Global Staff, Placing Europe’s EV Battery-Making Ambitions at Risk

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Struggling to ramp up production as demand for electric vehicles slows Bloomberg News Workers gather at a food truck in the snow at the Northvolt AB plant in Skelleftea, Sweden, on Thursday, Feb. 17, 2022. Photo by Mikael Sjoberg /Bloomberg Sweden’s Northvolt AB will shed 20 per cent of its global workforce and pause its expansion plans to slow …

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U.S. to Award $3 Billion to 25 Projects for Battery Manufacturing Sector

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(Reuters) – The U.S. Energy Department said Friday it plans to award $3 billion to 25 battery manufacturing sector projects in 14 states as the Biden administration works to shift the supply chain away from China. The projects will increase domestic production of advanced batteries and battery materials and follows the adoption of U.S. EV …

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Texas, California Top U.S. Power Sector’s Battery Pipeline

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By Gavin Maguire Image: REUTERS/Mike Blake P LITTLETON, Colorado, Sept 11 (Reuters) – California and Texas lead the national charge on grid-scale power sector battery systems, accounting for 72% of the battery networks currently in operation and around 65% of the battery development pipeline. California has the largest footprint of currently deployed utility batteries, with roughly 9,920 …

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China’s Global Battery Ram Will Be Hard to Stop

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By Katrina Hamlin HONG KONG, Sept 6 (Reuters Breakingviews) – China’s electric cars have zoomed into a new era of battery-powered driving. Now models such as BYD’s (002594.SZ) Seal and Great Wall Motor’s (601633.SS) Funky Cat face an international backlash. The U.S. is quadrupling duties on imports of electric vehicles from the People’s Republic to …

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U.S. Energy Storage Surge Will Reward Market-Savvy Developers

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By Mark Shenk Industry Insight from Reuters Events, a part of Thomson Reuters. Summary Falling costs and federal tax credits have improved the economics of large-scale battery storage but a busy market brings grid, permitting and supply chain risks. U.S. utility-scale battery deployment is surging as developers seek to secure tax credits introduced in the 2022 …

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U.S. Electric Utilities Turn to Batteries to Shift Power from Low-Price to High-Price Periods

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(Reuters) – Electric utilities in the U.S. are increasingly turning to batteries to shift power from periods of low prices to high-priced ones, according to an analysis from the U.S. Energy Information Administration. The strategy, referred to as arbitrage, involves utilities charging batteries by buying electricity during low-cost periods and then selling that electricity when …

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Lithium Battery Factory Fire in South Korea Kills 22, Mostly Chinese Migrant Workers

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The fire began after batteries exploded while workers were examining and packaging them Firefighters work to extinguish a fire at a lithium battery factory in Hwaseong on June 24, 2024. PHOTO BY YONHAP / AFP SEOUL, South Korea — A fire likely sparked by exploding lithium batteries swept through a manufacturing factory near South Korea‘s capital on Monday, killing …

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What are Biden’s New Tariffs on China Goods?

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(Reuters) – President Joe Biden is hiking tariffs on $18 billion in Chinese goods including electric vehicles, batteries, semiconductors, steel, aluminum, critical minerals, solar cells, ship-to-shore cranes, and medical products, while retaining Trump-era tariffs on over $300 billion in goods. The United States Trade Representative’s Office told Reuters it anticipates the effective date will be in …

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COMMENTARY: Overcoming Bottlenecks is a Prerequisite to Achieving the Energy Transition – Yogi Schulz

Batteries, Critical Minerals, Electric Vehicles, Energy Commentary, Energy Storage, Energy Topics & Technology, Environment, Geothermal, Hydro, Latest, Minerals, Net Zero, Renewable Energy, Solar, US News, Wind / By

Overcoming multiple bottlenecks will be essential for scaling up key technologies required to reduce GHG emissions and address the adverse consequences of climate change. The technologies that must be scaled up and reduced in cost are: Geothermal, nuclear, solar and wind electricity generation. Batteries and hydro storage to increase the effective production of intermittent electricity …

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