Posts Tagged electric car

Hands-on video with Tesla’s electric Model X

Posted by on Friday, 10 February, 2012

Tesla unveiled its third electric car the Model X, an electric SUV/minivan hybrid, during a sneak preview at its design studio in Hawthorne, California on Thursday. We took GigaOM TV’s Green Overdrive show down to the event and got this first hands-on video with the car and an interview with Tesla’s CEO Elon Musk. Check it out:



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Fisker suspends work on Project Nina, lays off workers

Posted by on Tuesday, 7 February, 2012

Could the Solyndra of the automotive world be just around the corner (see my prediction story on Fisker from September 2011 on this)? Electric vehicle maker Fisker Automotive announced on Monday that it has halted work on its second electric car called Project Nina at its factory in Delaware, has laid off 26 workers, and is attempting to renegotiate the terms of its loan with the U.S. government.

In late 2009 Fisker was awarded a 8.7 million loan from the Department of Energy that it planned to use to both build its first plug-in car, the Fisker Karma, and start working on its second car to be “Made in the U.S.A” called Project Nina. The company recently launched the Karma — which is manufactured in Finland and assembled in the U.S. — but that car was significantly delayed to market.

Fisker tells me it has drawn down on 3 million of the 9 million loan mostly for the Karma program, and that it received its last reimbursement in May of 2011. Fisker says it is currently “renegotiating some terms of the DOE agreement for the 6 million balance of the loan related to the Project Nina program,” but that it “continues to pursue alternative funding sources.”

If you recall, solar maker Solyndra had the terms of its loan guarantee renegotiated by the DOE, which caused much political backlash after Solyndra went bankrupt. So you can be sure that the DOE will be particularly cautious in how (and if) it works with Fisker on the remainder of its loan.

As I reported last month, following some of its hurdles, Fisker quietly decided to double its current Series D fund-raising round from 0 million to 0 million, and the company has now raised 0 million in private equity. Fisker’s investors include Valley venture firms Kleiner Perkins Caufield & Byers and NEA and private equity firm Advanced Equities.

Fisker says with Project Nina, it has “completed Phase One of the re-commissioning of a former General Motors plant in Wilmington, Delaware,” and will first focus on selling the Karma in 2012, and then later on focus on the Nina. Fisker was originally shooting to manufacture Project Nina electric cars at a volume of 75,000 to 100,000 per year starting in 2012.



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How to charge the Volt with clean power

Posted by on Wednesday, 25 January, 2012

GM’s communications service OnStar could some day enable owners of GM’s electric car the Volt to charge their cars primarily with any available clean power. OnStar says it’s partnered with grid wholesale operator PJM Interconnection to test out a service that receives a signal for how much solar or wind power is available when a Volt is charging.

OnStar could grab that clean power signal and deliver it to the electric car owner via a dashboard or mobile app and enable the car owner to decide when to charge the car. OnStar says Google is testing out the tech on 17 of its Volts at its headquarters. OnStar is showing off the tech at the DistribuTECH show in San Antonio, Texas this week and I got a brief glimpse of the tech at the booth.

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Chevy Volt safe from fire hazard after all, says government

Posted by on Tuesday, 24 January, 2012

The Chevy Volt isn’t prone to catching fire after all, says the National Highway Traffic Safety Administration. The all-electric car came under scrutiny last year after one caught fire following a side-impact crash test. GM offered a buyback program for Volt owners concerned their cars might suddenly immolate, then the company made “enhancements” to the Volt’s battery coolant system. That set things right, as far as the NHTSA is concerned: it says “no discernable defect trend exists” in the Volt, and that GM’s revisions “reduce the potential for battery intrusion resulting from side impacts.” Chevy dropped the Volt’s price by ,000 for 2012, too. So what do you think? Is a ,000 starting price and less of a chance of burning to death enough to make you go electric?

Chevy Volt safe from fire hazard after all, says government originally appeared on Engadget on Tue, 24 Jan 2012 02:03:00 EDT. Please see our terms for use of feeds.

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Electric car startup Fisker quietly piles on more funding

Posted by on Tuesday, 10 January, 2012

Electric car maker Fisker Automotive ended 2011 with a couple hiccups: the company recalled (and promptly fixed) the bulk of the electric Karmas that it had shipped to customers, and it was also revealed that Fisker would have a slower ramp up in production of the Karmas than was previously planned. Now following some of those hurdles, Fisker has quietly decided to double its current Series D fund raising round from 0 million to 0 million, according to a filing.

To date Fisker has closed 3 million of that round, which shows the commitment of Fisker’s investors to the company. Fisker’s investors include private equity firm Advanced Equities, as well as Valley venture firms Kleiner Perkins Caufield & Byers and NEA. Back in September Fortune’s Dan Primack reported that this round (then at 0 million) was being marketed as a “pre-IPO” round (not sure if it still is or not), and that Advanced Equities was Fisker’s largest shareholder with 14.61 percent, and Kleiner Perkins held 12.61 percent.

I don’t know the exact financial effects of the recall or the slower production ramp up on Fisker, but the filing for doubling the funding round emerged weeks after the recall and a couple months after the production issues. To put this in perspective recalls aren’t that uncommon for car companies. Fisker Senior Director, Global Corporate Communications Roger Ormisher tells me that:

We have always said that as a private company, we want to stay ahead of the financial curve. In the current market situation, we thought it prudent to continue this policy and raise money that was potentially available.

With the 3 million closed of this latest round, that brings Fisker’s total of private investment to over 6 million. Fisker also has a Department of Energy loan of 8.7 million, which it scored back in September 2009 (see my article on Are there more Solyndras out there?). So with private investment and loans Fisker has raised .4 billion. Yes, that is much more money than Valley-backed startups usually raise.

Fisker will use this funding to ramp up production of its inaugural car the Karma, and potentially to produce and start selling its second car Project Nina in 2013.

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The most successful greentech startup you haven’t heard of: Kurion

Posted by on Wednesday, 4 January, 2012

Workers Controlling the Remote Cleaners at Fukushima

While 2011 was filled with dreary news of solar bankruptcies, electric car companies shutting their doors and U.S. politics demonizing clean power, I’ve been searching for untold stories of successful cleantech startups that have been flying under the radar. Here’s one that’s been at the top of my mind: nuclear waste cleanup startup Kurion.

The profitable four-year-old, 15-person, startup based in Irvine, California won the mother of all nuclear clean up deals in 2011: Fukushima, one of the largest nuclear disasters in history. While Kurion’s CEO John Raymont wouldn’t comment on the financials of Kurion’s deal to help cleanup

Sampling of water in the spent fuel pool of Unit 4, Fukushima Daiichi Nuclear Power Station

Fukushima in an interview with me, the entire site will likely cost tens of billions of dollars over decades to be cleaned up by a variety of contractors and government workers.

This Summer, about eight weeks after an earthquake and tsunami created the infamous events that led to the emissions of nuclear contaminants into the air and water at the Fukushima reactors, Kurion started shipping its nuclear water clean up technology to Japanese utility TEPCO.

Kurion was one of a group of companies selected by the beleaguered utility to clean the seawater that had been pumped into the reactors to cool them down. Others companies that made up the cleanup crew included France’s AREVA, Japan’s Toshiba and Hitachi-GE Nuclear Energy — Kurion was the only startup included.

Nuclear waste to glass

Dispersing Dust Protectant, Common Pool Area

Kurion has developed a material it calls “ion specific media,” which basically soaks up nuclear particles and then shrinks the materials down to a small enough size so that it can be turned into glass, which is a process called vitrification. Vitrification is the standard process used by the nuclear industry to encapsulate waste, but Kurion has created a more modular process, so the clean up technology can be quickly shipped to a contaminated site and then the waste can be safely shipped somewhere for storage.

Since the Summer, Kurion’s technology has been used as part of what Kurion’s Raymont calls “an unprecedented external reactor water cooling system,” designed to replace the in-plant reactor

Sampling of water in the spent fuel pool of Unit 4, Fukushima Daiichi Nuclear Power Station

water cooling system that normally would purify and recycle reactor water to keep the reactor cool. The entire water cleaning system, which has cleaned and cooled some 50 million gallons of water at the site, includes an oil and debris removal system from Toshiba, the cesium removal system from Kurion, a decontamination system to polish the Kurion effluent from AREVA, and a desalinization system from Hitachi.

Until the nuclear cores of the reactors are removed they’ll continue to discharge nuclear particles, so a cooling and cleaning water system will have to be in place for maybe a decade. TEPCO originally thought that it would use the cleaning system from Kurion and the others only temporarily, but TEPCO has now decided to keep the temporary system in place for at least a year, and Kurion has a continuing contract to ship its materials and technology to TEPCO.

Future of Kurion

Having one of the world’s largest nuclear cleanups under its belt puts Kurion in a prime position. Though, Fukushima wasn’t Kurion’s first cleanup deal — back in the day, the technology was used to help clean up the U.S.’s own Three Mile Island nuclear disaster. But the cleanup effort at Fukushima effort has been far faster and far larger (at least 100 times the amount of water was cleaned at Fukushima).

In 2012 Kurion plans to use its success to double its staff to at least 30 people, and is currently on a hiring spree. While Kurion has the backing of Lux Capital and Firelake Capital, it has raised only a small amount of money, and down the road could potentially be looking to raise more rounds.

This year Kurion also plans to develop its vitrification (glass encapsulating) technology more — to become a one-stop nuclear waste clean up shop — and be able to go after any contract in the world, says Raymont. Basically it wants to compete with the big guys, and instead of being the sole startup amongst the large public firms cleaning nuclear waste sites, it will eventually aim to get a bigger piece of the pie.

Images courtesy of TEPCO.

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