GE is recharging the electrification of transportation by making its sixth equity investment in lithium-ion battery manufacturer A123Systems. GE invested $30 million in A123’s $102 million Series E financing, making it the battery manufacturer’s largest single cash investor – at 9 percent ownership. The investments were made by GE Commercial Finance – Equity and GE Energy Financial Services, bringing GE’s combined total investment in... Read more..
Ocean Power Technologies, Inc. announces that it has received a US$2.0 million award from the US Department of Energy (DoE), in support of OPT’s wave power project in Reedsport, Oregon. The DoE grant will be used to help fund the fabrication, assembly and factory testing of the first PowerBuoy® to be installed at the Reedsport site. This system will be a 150 kilowatt-rated PB150 PowerBuoy, major portions of which will be fabricated and integrated... Read more..
The Alliance for a Safe Alternative Fuels Environment (AllSAFE), www.allsafe-fuel.org, today announced its support of a recently issued enforcement letter from the Environmental Protection Agency (EPA) addressing self-directed blender pumps at retail outlets and the risks involved when using fuel blends containing more than 10 percent ethanol. The recent EPA letter states that “gasoline containing more than 10 percent ethanol may cause damage... Read more..