An Emission Free California

September 28 2020

California has made its climate ambition official — It is banning gasoline cars by 2035. It has created a bit of a scramble but also a lot of opportunities.

Volvo Cars, the Swedish automaker owned by China’s Zhejiang Geely Holding Group, said Thursday that it was preparing to launch a green bond to fund its electric-vehicle program. The news follows similar issues by Volkswagen AG and Daimler AG, which have both sought to tap into growing investor appetite for clean mobility.

At the same time, Nikola and hydrogen cars have garnered a lot of attention, for better for worse. The hydrogen car is not a new concept and is one serious contender for the zero-emission future.

For now, there are only three commercial available models- the Toyota Mirai, the Hyundai Nexo, and the Honda Clarity. However, there are many serious hydrogen fuel cell contenders in the battery space, which is one of the bottlenecks for hydrogen cars.

The California executive order will accelerate the investment and development of those companies to push for a cleaner future.

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Hydrogen Cell Companies That Are Not Nikola:

FuelCell Energy, Inc. is a fuel cell power company. It designs, manufactures, operates, and services Direct Fuel Cell power plants that run on natural gas and biogas. As the biggest publicly traded fuel-cell manufacturer in the U.S., the company operates over 50 plants all over the world.

Nel ASA is a Norwegian company based in Oslo. Nel is a global company providing solutions for the production, storage, and distribution of hydrogen from renewable energy sources. Nel is currently involved in several projects worldwide, including the commissioning of the first hydrogen-powered train in Germany as part of the H2 West Coast Consortium.

Plug Power Inc. is an American company engaged in the design and manufacturing of hydrogen fuel cell systems that replace conventional batteries in equipment and vehicles powered by electricity. The company is headquartered in Latham, New York, and has facilities in Spokane, Washington, and Rochester, New York.

Want to Fly a Boeing? One Airline Is Opening Its Simulators to the Public

No, it is not Malaysia Airlines. Thai Airways International Pcl is opening up its Airbus SE and Boeing Co. flight simulators to the public, seeking a fresh revenue source amid the travel slump caused by the coronavirus pandemic.
[Read more].

IPO Market Parties Like It’s 1999

Even in the midst of a recession, investors are pouring money into newly public companies at levels on par with the dot-com era. 2020 could be its biggest year ever.[Read more].

Since last week, PrivCo has added:
9080 Companies | 236 Funding Activities | 66 M&A Deals

Funding & Deal Highlights:

Papa, a nationwide provider that pairs older adults and families with Papa Pals for companionship and assistance with everyday tasks, today announced it has raised an additional $18 MM for its Series B round led by Comcast Ventures. Additional investors in this round include Canaan, Initialized Capital, Sound Ventures, Pivotal Ventures with Magnify Ventures, Behance Founder, CPO of Adobe; Scott Belsky, the founders of Flatiron Health and their group Operator Partners, and other high-profile investors. This brings the company's total funding raised to $31 MM to date.

Bright Health announced a $500 MM Series E funding round with significant investments by funds and accounts advised by Tiger Global Management, T. Rowe Price Associates and Blackstone, with follow-on investments from existing investors including NEA, Bessemer Venture Partners and Greenspring Associates.

Beyond Limits, an industrial and enterprise-grade AI technology company built for the most demanding sectors, including energy, utilities, and healthcare, today announced a milestone Series C funding round with $113 MM closed and another approximately $20 MM committed. This round is led by Group 42, a prominent AI and cloud computing company, and bp ventures, an existing two-time investor and customer of the company.

NextCapital, the leader in enterprise digital advice, today announced $30 MM in growth financing, bringing the company's total funding to $85 MM. The financing was led by FP Credit, the credit investment arm of Francisco Partners, a leading global investment firm. Oak HC/FT and IA Capital Group also participated in the capital raise.

RoadRunner Recycling, a leading technology-driven company transforming the traditional waste and recycling sector, today announced the closing of its oversubscribed Series C round with a $10 MM total investment from Avery Dennison, the global leader in materials science and manufacturing, and Valo Ventures, the purpose-driven venture capital firm. This investment comes on the heels of the original Series C funding round of $28.6 MM led by e.ventures and Greycroft in March 2020. In addition to the receipt of funding, Jeroen Diderich, vice president and general manager of Label and Graphic Materials North America at Avery Dennison, will join RoadRunner's board as an observer.

Victory Capital Holdings, Inc. announced today that it has acquired, through a wholly-owned subsidiary, a 15% interest in Alderwood Partners LLP. Financial terms were not disclosed.

Santa Fe Farms LLC, a leader in the production, extraction, manufacturing, and distribution of THC-free, Hemp-based phytocannabinoids, announced today that it has acquired FathomNM, LLC’s post cultivation services as part of its overall Hemp operations in New Mexico. FathomNM, LLC CEO Jeff Apodaca has joined Santa Fe Farms as both Vice Chairman of the Board of Managers and CEO of H47, Santa Fe Farms’ post cultivation service enterprise.

PagerDuty, Inc., a global leader in digital operations management, today announced that it has entered into a definitive agreement to acquire Rundeck, a leading provider of DevOps automation for enterprise. The acquisition strengthens PagerDuty’s leading incident response offering with intelligent machine automation including auto-remediation and self-healing that bring increased productivity to resolution and recovery efforts.

Tink, a Stockholm, Sweden-based open banking platform, acquired the aggregation platform of London, UK-based OpenWrks. The amount of the deal was not disclosed.

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