Reasons for the bankruptcy of new energy battery companies
The company, whose bankruptcy filing came as a result of difficulties keeping up with vendor payments and liquidity in general, said it would close all of its UpWest locations and 95 of its ... - Download [PDF]
The most notable business bankruptcies of 2024 (so far …
The company, whose bankruptcy filing came as a result of difficulties keeping up with vendor payments and liquidity in general, said it would close all of its UpWest locations and 95 of its ...
EV battery startup Our Next Energy takes steps to …
Our Next Energy has secured financial runway through the end of the year after a failed Series C fundraising round prompted the EV battery startup to cut a quarter of its staff and replace its CEO.
Obama-backed car battery maker goes bankrupt
WASHINGTON - The parent company of an electric car battery maker that received a $118 million grant from the Obama administration filed for Chapter 11 bankruptcy protection on Thursday.
Mercedes & LGES said to have finalised major battery deal
8 · As Reuters writes, citing a regulatory filing, LG Energy Solution is to supply batteries for electric vehicles to a subsidiary of Mercedes-Benz between 2028 and 2038. The news agency says the deal involves North America and ''other regions''. The information is still relatively vague, and the Reuters report does not detail which Mercedes subsidiary is …
Delays, financing issues behind ESS battery bankruptcy events
The Ambri team next to their battery, two years before the company entered Chapter 11 bankruptcy. Image: Ambri. Delays in product development, high commodity prices and investors pulling out were behind some of the most recent bankruptcy events in the ESS battery technology space, which include Nilar, AMTE and …
Northvolt Unit Files for Bankruptcy as Expansion Plan Paused (1)
10 · Charles Daly. The financial crisis engulfing Northvolt AB deepened after one of its units filed for bankruptcy in the wake of a decision to halt an expansion of its …
Amid ''Battery Arms Race,'' Xerion CEO Talks Tech ...
The late-stage battery startup is active in the military and electronics space, but is gaining attention for technology that extracts lithium from geothermal brine. As China tightens its grip on the global critical minerals supply chain and the U.S. works to boost domestic supplies, battery ...
Electric battery maker A123 Systems goes bankrupt
The move makes A123 the latest government-backed energy company to file for Chapter 11. Many of these companies have struggled to make money as demand slows for their products.
U.S. battery maker Aquion Energy files for bankruptcy | Reuters
U.S. battery maker Aquion Energy Inc filed for Chapter 11 bankruptcy protection on Wednesday and said it was in talks to sell substantially all of its operating assets.
''Saltwater battery'' maker Aquion Energy back from …
Philip Juline, now CEO of Aquion, said the new leadership aimed to turn Aquion into a "billion-dollar company in the upcoming years", claiming it was only limited by its "ability to ramp and scale" operations to …
Battery Maker A123 Systems Files for Bankruptcy
The Department of Energy awarded the company a $249 million grant to establish battery manufacturing operations in Michigan, although A123 had received only about $132 million of the …
7 New Battery Technologies to Watch
Most battery-powered devices, from smartphones and tablets to electric vehicles and energy storage systems, rely on lithium-ion battery technology. Because lithium-ion batteries are able to store a significant amount of energy in such a small package, charge quickly and last long, they became the battery of choice for new devices.
Biden-backed electric vehicle company files for bankruptcy
President Biden frequently extolled an electric vehicle company — in which his energy secretary heavily invested — before it declared bankruptcy on Monday.. Bay Area-based electric bus and ...
Battery startup Our Next Energy replaces founder …
Our Next Energy Inc., a battery startup that hopes to rival China with vital energy storage technology, has replaced founder and Chief Executive Officer Mujeeb Ijaz as it faces a failed funding ...
Northvolt Unit Files for Bankruptcy as Swedish Expansion Paused
11 · 1:02. A subsidiary of Northvolt AB has filed for bankruptcy after the struggling battery maker paused the expansion of operations at its flagship Swedish factory as part …
Swedish company Northvolt subsidiary files for bankruptcy
2 · Published Oct. 8, 2024 9:19 a.m. PDT. Share. Swedish battery manufacturer Northvolt said on Tuesday that one of its entities had filed for bankruptcy with a …
Britishvolt owed up to £160mn to creditors when it …
The documents released by EY on Tuesday reveal the huge debts incurred by the UK''s hope for a national battery champion as its plans to raise £800mn fell flat last year.
Battery startup Our Next Energy replaces founder with new CEO …
Our Next Energy Inc., a battery startup that hopes to rival China with vital energy storage technology, has replaced founder and Chief Executive Officer Mujeeb Ijaz as it faces a failed funding ...
Northvolt Says Subsidiary Files for Bankruptcy After Project Pulled
18 · Northvolt said in September it would slim down and cut jobs, sparking fears that Europe''s best shot at a home-grown electric vehicle battery champion may stall due …
Ambri, Nilar, AMTE: A look at recent bankruptcy events in the ESS ...
Ambri: investors pulling out in ''challenging fundraising environment'' US-based liquid metal battery firm Ambri''s Chapter 11 bankruptcy and recent sale of assets to a consortium of its lenders was covered by Energy-Storage.news last week. The firm''s technology is based around liquid calcium anodes and molten salt electrolyte. Filing for …
Battery Maker Ener1 Enters Chap. 11 Bankruptcy
Ener1 Inc., a company, which makes batteries for electric vehicles, filed Chapter 11 bankruptcy protection on Thursday. In a court filing, company CEO Alex Sorokin cited "intense competition ...
Bankrupt Battery Maker Overcomes Creditors'' Objections to Sale
The grid-scale battery maker backed by Gates Frontier, the investment arm of Microsoft Corp. founder Bill Gates, and Paulson Partners, founded by billionaire investor John Paulson, will sell its assets to a lead bidder for $9.5 million, subject to approval by the US Bankruptcy Court for the District of Delaware, according to a filing Monday.
Britishvolt: UK battery start-up collapses into administration
Britishvolt had also planned to open a new battery development centre. The ambitious, but financially troubled, start-up only narrowly avoided collapse at the end of last year after an emergency ...
U.S.-backed battery firm Ener1 seeks Chapter 11 bankruptcy
Another company that received backing from the U.S. Department of Energy files for Chapter 11 bankruptcy ... with battery companies in ... New York-based company listed assets of $73.9 million and ...
Government-funded battery maker A123 files for bankruptcy
A123 is not the first government-funded alternative energy company to file for bankruptcy. Ener1, another battery company, filed for Chapter 11 in January. At that time, it cited slower demand for ...
Delays, financing issues behind ESS battery bankruptcy events
Filing for Chapter 11 bankruptcy protection is different to a Chapter 7 one, which immediately kickstarts the process of asset sales, and Ambri has now come out of the process with a new CEO. A statement by company CFO Nora Murphy in a filing from June 2024 with the bankruptcy court of Delaware court explained how the company ended …
Northvolt''s $5B debt deal should be a wake-up call for …
Swedish battery startup Northvolt secured a $5 billion debt deal earlier this week, paving the way for the expansion of its first gigafactory as Europe seeks to solidify its home-grown battery...
Britishvolt bankruptcy exposes Britain''s battery bluff
The country has already legislated for a 2030 ban on the sale of new petrol and diesel cars and plans to extend that to hybrid models from 2035. The EU — still a top destination for British auto exports — has agreed a zero-emissions mandate for cars and vans from 2035, and other major global markets are going the same way, starting with …