April 11th, 2014
This week’s “Top 5” includes investments, partnerships, new management for Younicos and new German regulation. All in all, it was a quiet week for energy storage.
1. GM will invest $449m to upgrade its EV manufacturing plants, including $65m for its battery manufacturing plant.
2. Ioxus, ultracaps manufacturer, received $21m in equity investment to increase its presence in China, a major share coming from the World Bank’s International Finance Corp.
3. Maxwell will supply ultracaps to ABB for integration of its ENVILINE solution on SEPTA substations to recover braking energy from trains.
4. With the first commercial projects coming on line this year, Younicos is looking at the next level of growth by hiring a new CEO, James McDougall.
5. Final details on the new version of the German EEG law that was adopted this week. It includes progressive direct marketing to replace FITs for renewable energies, and reduced FITs in the meantime, while introducing EEG tax for self-consumption for some plants. The draft bill now has to go through the parliamentary process.