This Week in Batteries: GM Ultium Selling Stake to LGES

• LPO announced $7B conditional commitment loan to StarPlus Energy, a JV between FCA/Stellantis and Samsung SDI, to construct gigafactories in Indiana (Link)
• GM to sell its stake in the nearly completed battery cell plant in Lansing, Michigan to its JV partner LGES; extends its 14-year battery technology partnership to include prismatic cell development. (Link, Link2)
• US energy storage deployments soar 80% to nearly 10GWh in Q3 2024 (Link)

• Coreshell launches 60 Ah battery cells (Link)
• 24M and Kyocera aims to double its production capacity to 400 MWh of residential energy storage batteries based on 24M’s semisolid technology by FY2026 (Link)
• Factorial Energy unveils 40Ah All-Solid-State Battery cells with dry coating process (Link)
• ACC to expand French gigafactory; spending approx. $1B (Link)
• CATL offers suppliers financial support to drive battery innovation (Link)
• Peak Energy announces Na-ion engineering center in Colorado (Link)
• NanoGraf introduces Onyx?, it’s high-performance EV-ready Si-Anode (Link)

• Reuters: Global sales of EVs rose for a seventh consecutive month in November, jumping 32% yoy (Link)
• Stellantis, CATL to invest $4.33B in EV battery factory in Spain; estimated start of production by the end of 2026 and could reach a capacity of 50 GWh (Link)
• Nio aims to double sales and control costs in 2025 (Link)
• GM ending robotaxi development at Cruise (Link)

• EVLO announces successful delivery of 12.8MW/64MWh BESS for first California project (Link)

• Ascend Elements to increase U.S. production of Lithium Carbonate by 60% with start of new lithium recovery line in 2025 (Link)
• Nornickel says sees global nickel surplus of 150,000t in 2024-2025 (Link)
• Liontown Resources sent the first cargo of spodumene concentrate from the Kathleen Valley lithium mine under a long-term offtake agreement; the shipment, totalling about 33,000 wet metric tonnes (Link)

• Nanoramic, Inc. raises $44MM to commercialize their PFAS-free energy storage solution, round led by GM Ventures and Catalus Capital (Link)
• US DOE to invest $17MM in critical minerals technology projects (Link)
• Coreshell l raising up to $20MM for silicon battery material (Link)
• Nikola offers up to $100MM in common stock (Link)
• Brazilian Nickel advances project financing with LOI for $550MM, funding represents 40% of the project’s overall financing package (Link)
• Aypa Power closes $398MM financing for 250MW/1,000MWh Arizona BESS (Link)
• Ultraviolette Automotive raised $15MM in Growth funding from Zoho, Lingotto, Mudhal Partners, and Ojas Consultancy (Link)
• California approves $42MM grant for IEP’s Marine Corps Base LDES project (Link)
• US DOE announces provisional $305MM loan to Nostromo (Link)

• Lead Intelligent Equipment secures WHG certification, boosting equipment exports to the European market (Link)
• ACCURE Battery Intelligence has received the 2024 Energy Storage Award for Safety Product of the Year (Link)
• BlackTeal Energy ’s new facility is equipped to produce AI-driven BMS, marking a critical step in our mission to deliver sustainable, innovative solutions for the future of energy. We are fully primed for large-scale Design-to-Spec and Build-to-Print capabilities (Link)

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