The battery recycling start-up Redwood Materials, founded by ex-Tesla CTO JB Straubel, has raised more than 700 million US dollars from a group of strategic investors. The money is to be used to finance expansion.
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Volkswagen is investing another 620 million dollars, or about half a billion euros, in its battery cell partner Northvolt. The funding is part of a $2.75 billion private placement that the Swedish company announced today alongside news on production capacity increases.
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Micromobility provider Tier Mobility has secured additional capital to drive the expansion of its fleets. The Berlin-based company is receiving $60 million (49 million euros) in loan financing from Goldman Sachs.
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Northvolt has raised $600 million (€513 Mn) from new and existing investors to enable the Swedish battery cell manufacturer to expand its production and recycling capacity and research and development activities.
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The German postal agency Deutsche Post has tasked the investment bank Goldman Sachs with evaluating potential future options for the StreetScooter e-transporter. Possible are partnerships, sale of the technology or opening up for public investment.
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