Startup QuantumScape Corp. -– believed to be working on solid-state battery technology -- has caught the attention of Volkswagen AG, which has bought a stake in the company, people familiar with the deal have told Bloomberg, which reports that the German automaker is likely trying to get a competitive edge over Tesla.
WASHINGTON (AP) — Dramatic U.S. government test results raise new concern that bulk shipments of rechargeable lithium batteries carried as cargo on passenger planes are susceptible to fires or explosions that could destroy the airliners.
Yet U.S. and international officials have been slow to adopt safety restrictions that might affect the powerful industries that depend on the batteries and the airlines that profit from shipping them. The batteries are used in products ranging from cellphones and laptops to hybrid cars.
The Joint Center for Energy Storage Research, a 14-member partnership funded by the Department of Energy that is looking for revolutionary advances in battery technology, is moving into a new laboratory in Berkeley in January, which will unite its science and engineering staff under a single roof for the first time, the San Jose Mercury-News reports.
OMAHA, Neb. (AP) — Warren Buffett's Berkshire Hathaway is buying the Duracell battery business from Procter & Gamble Co. in a deal valued at approximately $3 billion.
P&G, the world's biggest consumer products maker, had announced last month that it wanted to make Duracell a stand-alone company. P&G, which acquired Duracell in 2005, said at the time that it preferred a spinoff of Duracell, but that it was considering a sale or other options.
RALEIGH, N.C. (AP) — A small start-up company said Monday it would create hundreds of jobs when it moves into a massive, former Philip Morris USA cigarette plant to build batteries that it says will help power companies save energy and work more efficiently.
North Carolina officials on Tuesday are expected to hear Alevo Group representatives discuss plans to manufacture the utility-scale batteries at the factory site in Concord, where more than 2,000 were employed before it closed in 2009, State Commerce Department spokeswoman Kim Genardo said. Alevo believes that as the U.S. and other nations work to reduce emissions of gases that are contributing to climate change, its energy-saving technology will become more valuable.
The International Civil Aviation Organization is considering a new set of safety recommendations aimed at limiting fire risks from plane shipments of lithium batteries, though officials wouldn't detail specifics to The Wall Street Journal. The decision-making arm of the organization will discuss the plans later this month.
Energy storage is the key to energy systems in an age of renewables, the new “holy grail,” a Bloomberg analyst told The New York Times, which notes that the International Energy Agency has called on the U.S., the EU, China and India to spend a combined $380 billion to boost it.
Panasonic CEO Kazuhiro Tsuga told reporters Tuesday that his company plans an initial investment in Tesla’s battery gigafactory that runs to tens of billions of yen, the equivalent of hundreds of millions of dollars, The Wall Street Journal reports.
Researchers led by Donald Sadoway of MIT, writing in the journal Nature, detail a new battery using molten metal – described as cheap and durable – which is aimed at storing power on a grid scale, the BBC reports.
Short-covering and the expiration of the front month contract helped power oil prices to a huge gain Friday. West Texas Intermediate crude for January delivery shot up 5 percent, or $2.41, to settle at $56.52 a barrel on the Nymex, while in London February Brent finished $2.11 higher at $61.38, Reuters reports.
Oilfield services company Baker Hughes reported Friday that 1,875 rigs were drilling for oil and gas in the U.S. this week, a drop of 18 and the second week in a row that the number has fallen, FuelFix reports.
Comparing present-day statistics with numbers during the oil bust in the mid-1980s has led JP Morgan Chase economist Michael Feroli to warn that Texas could slip into a regional recession next year, FuelFix reports.
Job losses in the power generation sector over the past three years topped 5,800, according to data released by the Energy Information Administration Friday, which said all parts of the industry were affected other than renewable energy, The Hill reports.
Avenue Capital, the hedge fund run by Marc Lasry that specializes in buying distressed companies’ debt, is raising $750 million for a fund that will focus on the energy sector, according to the Pennsylvania Public School Employees’ Retirement Board, which confirms it has put in $200 million, the New York Post reports.
Tesla is testing the market for battery swaps: Near California supercharging stations where Model S owners can top up their batteries for free, the company is creating a facility where drivers can pay a cost equivalent to a tank of gasoline and get a fully-charged battery installed in three minutes, The Wall Street Journal reports.
The growth of global carbon emissions slowed in 2013 -– although the total of 35.3 billion tons did set a record -- and the rate of increase tailed off despite an uptick in economic activity, says a report from the European Commission’s Emissions Database for Global Atmospheric Research, or EDGAR, according to E&E.
INEOS hopes to get commercial shale gas production under way in Britain before the end of the decade, according to documents the government released Friday, which detailed the company’s presentation to the Department of Energy and Climate Change in February, Platts reports.