Last week saw plenty of exciting news in the world of cleantech investment and partnerships, notably so in clean transportation.
ALTe Powertrain Technologies, an Auburn Hills, Michigan based supplier of hybrid and electric vehicle power trains, has become the latest US-based electric vehicle technology developer to turn to China for financial backing and promise of a burgeoning market for its wares. The company has formed a $200 million joint venture with China’s MESA Century Energy Technology to build hybrid electric vehicles for the Chinese market. The deal reportedly includes $70 million in support of ALTe’s US based operations.
Better Place received a EUR40 million loan from the European Investment Bank to fund network deployments and day to day operations in Denmark and Israel. The loan marks the first ever credit facility for Better Place from a large financial institution.
And finally AMP Electric Vehicles, an Ohio based over-the-counter traded electric vehicle manufacturer, secured a commitment for a $7.5 million private growth equity round from Kodiak Capital Group, pending approval from regulators. Kodiak expressed particular interest in AMP’s EV heavy truck fleet vehicle development.
Outside of the transportation sector, insolvent solar cell manufacturer Q-Cells finally found a buyer in Korea’s Hanwha Corporation, which said it would pay in the low double-digit million Euro range for the company, in addition to assuming the company’s liabilities in the “low hundreds of millions”.
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