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November 9th - According to a source from the Russian security services who spoke to Sputnik News, demoralized Ukrainian soldiers are surrendering en masse and deserting in the Kharkiv region. The source said, "Eight Ukrainian soldiers surrendered in the past 24 hours. Many more are abandoning their positions and deserting."November 9th - According to a report on the website of the Russian newspaper Izvestia on November 8th, Russian troops are about to "liberate" the city of Kupyansk in the Kharkiv region. Previously, the "Western" military group controlled the Oskol River crossing, blocking Ukrainian forces in that direction. Russian troops are currently completing their clearing operations in the western region of Kupyansk in the Kharkiv region.The governor of Voronezh region, Russia, said that a Ukrainian drone strike at night caused a disruption to electricity and heating supplies in the region.According to RIA Novosti, Russian air defense forces shot down 44 Ukrainian drones last night.On November 9th, internal documents from Meta Platforms (META.O) revealed that approximately 10% of the companys revenue, or about $16 billion, will come from fraudulent and prohibited advertising in 2024, highlighting loopholes in its advertising oversight. The internal Meta document shows that the social media giant has failed to identify and block a large number of illegal ads for at least the past three years, exposing billions of users on its platforms Facebook, Instagram, and WhatsApp to content including investment scams, online gambling, and prohibited medical products. The company estimates that its platforms push approximately 15 billion fraudulent ads to users daily.

ONE, A $1.2 Billion Electric Vehicle Battery Maker, Raises $300 Million

Haiden Holmes

Feb 01, 2023 14:57

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Our Next Energy (ONE), a battery startup based in Michigan, announced Wednesday that it has secured a $300 million Series B fundraising round, valuing the three-year-old company at $1.2 billion.


The most recent investment round, led by Franklin Templeton and Fifth Wall, makes Our Next Energy one of the most valuable privately held battery companies in the United States.


ONE is providing prototypes of its Aries I battery pack to various companies for testing, and plans to begin manufacturing Aries II lithium iron phosphate cells at a new facility in Van Buren Township, southeast Michigan, next year, according to ONE's chief executive Mujeeb Ijaz.


Ijaz stated that the plant's initial capacity will be around 2 gigawatt-hours, increasing to 10 GWh by 2026 and 20 GWh by 2027. Eventually, the plant will make Aries II packs and have a prototype line for the dual-chemistry Gemini cells, which ONE plans to begin manufacturing in 2026.


Ijaz stated that the company is evaluating the possibility of constructing a second building on the Van Buren site, as well as the necessity for a second location based on customer demand.


Additionally, ONE is in negotiations with possible North American suppliers of battery raw materials, which might enable the company and its clients to take advantage of Inflation Reduction Act incentives.


Temasek, Coatue, Riverstone Holdings, AI Capital Partners, and Sente Ventures are among the latest investors.


"These are the types of investors who are less concerned with the current economic climate than they are with this century-long shift to electricity," Ijaz explained.


In the Series B round, BMW iVentures, Assembly Ventures, Breakthrough Energy Ventures, Volta Energy Technologies, Flex (NASDAQ:FLEX), and Coatue completed a convertible note for $62.5 million.

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