Volkswagen bet big on European-made batteries a few years ago with two massive investments in Northvolt, the Swedish manufacturer. Now, the automaker’s €1.4 billion stake is worth less than half that, according to Reuters. The write downs occurred throughout the current fiscal year as the situation at Northvolt deteriorated. It’s unclear what Volkswagen’s current stake […]
Beleaguered Swedish battery manufacturer Northvolt announced on Thursday that it was filing for bankruptcy in the U.S., striking a blow to Europe’s ambitions for homegrown lithium-ion batteries. The company reportedly chose Chapter 11 in an effort to right its finances. In the wake of the filing, co-founder and CEO Peter Carlsson resigned, though he’ll remain on
Battery unicorn Northvolt files for bankruptcy, co-founder and CEO resigns Read More »
Nuclear startup Kairos Power received approval from the U.S. Nuclear Regulatory Commission to start construction on two test reactors in Oak Ridge, Tennessee. The permit marks a significant milestone for Kairos, which in October inked a deal with Google to provide 500 megawatts of electricity for its data centers. The fluoride-salt cooled, high-temperature reactors are
Future Google supplier Kairos gets approval to build two small nuclear reactors Read More »
Beleaguered Swedish battery manufacturer Northvolt announced today that it was filing for bankruptcy in the U.S., striking a blow to Europe’s ambitions for homegrown lithium-ion batteries. The company reportedly chose Chapter 11 in an effort to right its finances. Northvolt, which had soared for years on the back of strong fundraising and a string of
Battery unicorn Northvolt files for bankruptcy, upending Europe’s industrial plan Read More »
Electric passenger boat startup Candela has topped off its most recent raise with another $14 million, the company announced Thursday, and has sold the first of its ferries in the U.S. — bound for Lake Tahoe. Candela makes a series of all-electric hydrofoiling watercraft, meaning the body of the boat rises above the surface of
Candela brings its P-12 electric ferry to Tahoe and adds another $14M to build more Read More »
It’s a truism in the climate tech world that hardware is paramount. After all, you can’t curb carbon pollution without fixing cement, steel, hydrogen, and more. But as with anything today, hardware is just part of the equation. “In almost every case, hardware is going to be developed with software in mind,” Vaughn Blake, partner
Blue Bear Capital lands $160M to back AI founders in climate, energy, and industry Read More »
Italian energy giant Enel is placing a bet on small modular nuclear reactors through a partnership with Ansaldo, another Italian energy company, and Leonardo, a defense contractor. The new company is expected to be announced in the coming days. Enel already has a deal with small modular reactor startup Newcleo to develop so-called fourth-generation nuclear
Nuclear startups face new competition as energy giant Enel enters the ring Read More »
Microsoft is in a pickle: It has committed to being carbon negative by 2030, but its emissions have skyrocketed more than 40% since 2020, thanks in part to its booming AI business. The company has bought a bunch of renewable power, but some emissions, like air travel, have been impossible to eliminate. What’s a Big
Microsoft bets a carbon removal bake-off will help offset its skyrocketing AI emissions Read More »
For all its promise as a climate friendly fuel, hydrogen hasn’t had much luck. It lost the battle over personal transportation to battery electric vehicles, and for industrial users, it remains far more expensive than natural gas. That’s in part because natural gas can flow through sprawling networks of pipelines. Hydrogen doesn’t, which means buyers
Ecolectro stuffs hydrogen production into shipping containers to cut costs Read More »
AI’s insatiable thirst for electricity is expected to surge in the coming years, potentially leading to power shortages for data centers. New servers last year demanded 195 terawatt-hours of electricity, according to a new report from Gartner. That’s as much as 18 million households use in a year. But by 2027, new servers could command
Nearly half of AI data centers may not have enough power by 2027 Read More »
