investment

Berlin urges EU to relax state-aid rules for battery investment

Angela Merkel: Photo: Bundesregierung/Kugler

Germany has started hush-hush talks with EU leaders aimed at relaxing state-aid rules so the government can pump cash into launching of a national battery cell production programme, BEST Battery Briefing has learned.

BBB understands Germany wants to set a faster pace of progress for Europe’s ‘Batteries Alliance’— with Berlin in the driving seat.

batteries

Angela Merkel

germany

eu

investment

BMWi

Peter Altmaier

Hyundai backs solid-state with Ionic investment

South Korean car giant Hyundai has made an undisclosed investment in US-based Ionic Materials’ development of solid-state battery tech for electric vehicles (EV).

The investment by Hyundai’s business innovations arm— Hyundai Cradle— will keep the car firm “at the forefront of battery development, allowing us to build better eco-friendly vehicles”, said vice-president John Suh.

Camel to expand lead recycling

Chinese battery maker the Camel Group has announced plans to boost investment in lead-acid recycling over the next three years.

The company said in a Shanghai Stock Exchange announcement it is set to spend CNY1.5 billion ($234 million) on building three recycling and production sites— one in the eastern Anhui Province and the others in the northeast and southwest of the country.

Redflow to scale up battery making with cash raise

Australian flow battery maker Redflow is raising AUD18.1 million ($13.6m) to “scale up battery production and grow Australian and international sales”.

The Brisbane-based company said on 26 April it was raising the funds through a combination of a placement to new investors and a fully underwritten rights issue offered to all current shareholders.

Investors banking billions in batteries, says report

Battery companies sucked in a multi-billion-dollar boost from investors eager to grab a slice of the storage market in 2017, according to a new report.

The Mercom Capital Group said $1.03 billion was raised by battery storage, smart grid, and efficiency firms in the first half of 2017— compared to $807 million in the first half of 2016.

Century Yuasa ‘plans lead line expansion’

Australia-based battery manufacturer Century Yuasa reportedly plans a multi-million dollar investment to expand its production of lead-acid battery plates.

Century Yuasa’s general manager of operations, Matthieu Anquetil, told Australia’s Courier Mailthe company will invest AUD6m ($4.6m) in a new line at the company’s Carole Park factory in Brisbane.

Century Yuasa

lead-acid battery plates

production

investment

australia

Leoch-DBS Energy venture targets UK battery business

Hong Kong-listed battery giant Leoch International Technology has invested in UK-based battery distributor DBS Energy to target sales to the country’s industrial market.

Leoch said the companies had formed a joint venture— DBS Leoch— to “significantly grow its business and become one of the leading suppliers of batteries” to UK industry.

Leoch International Technology

New fund ‘to target EV battery investments’

A new equities fund targeting investments in batteries and raw materials to support the development of electric vehicles is reportedly set for launch next month.

The ‘Westbeck Electric Metals Fund’, backed by oil-focused hedge fund company Westbeck Capital Management, aims to raise $100 million in 2018, according to Reuters.

Westbeck Electric Metals Fund

Westbeck Capital Management

Investment boost for UK second-life EV BESS firm

UK firm Connected Energy (CE) has secured a GBP3 million ($4.1m) investment boost for the development of its E-STOR energy storage system that uses 'second-life' lithium-ion electric vehicle batteries.

CE said the cash injection from Australian investment banking company Macquarie Group and French electric utility ENGIE will provide “working capital” to help its “ambitious growth plans in the UK and Europe.”

investment

Connected Energy

E-STOR

energy storage system

second-life EV batteries

China firm plans investment in US Li-S battery developer

Hong Kong-listed investment holding company China Innovation has announced plans to buy a stake in Illinois-based battery developer Power Energy Solutions (PES).

Both companies have signed an investment framework agreement, under which China Innovation said it will purchase an undisclosed amount of shares in PES.

China Innovation

Power Energy Solutions

investment

lithium sulfur battery