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US President Trump: The federal government will assist in handling the Potomac River wastewater spill.Swiss Foreign Ministry: Geneva talks on Ukraine will be held behind closed doors.According to the Ukrainian National News Agency, Russian forces used ballistic missiles to attack the central Ukrainian city of Krivirikh, damaging local transportation infrastructure.Apple (AAPL.O) is revamping the video functionality of its podcasts as part of an industry-wide shift from purely audio-based media to visual formats. A statement released Monday revealed that in the iOS 26.4 developer beta, Apple is making it easier for viewers to switch between video podcasts and audio listening. While Apple Podcasts has long supported video programming via RSS feeds, its effectiveness has lagged far behind platforms like Spotify, YouTube, and Netflix. Apple is partnering with hosting platforms such as Amazons Art19, SiriusXMs Simplecast, and AdsWizz to ensure podcast creators can sync their video programming to the app. Starting this spring, video podcasts will be supported on Vision Pro, iPad, iPhone, and the web version of Apple Podcasts. Later this year, Apple will also charge ad networks for video ads based on ad impressions.February 17th - New Zealands newly appointed Reserve Bank of New Zealand Governor Anna Brehman will hold her first policy meeting this week, and is expected to keep interest rates unchanged. Amid persistent inflationary pressures, the market is focused on her assessment of the economic outlook. A survey of 22 economists indicates that Wednesdays meeting will maintain the official cash rate at 2.25%. Brehman joined the Reserve Bank of New Zealand from the Swedish central bank in early December last year. In the last three months of last year, the countrys economy expanded rapidly, and inflation unexpectedly exceeded the upper limit of the 1-3% target range, prompting economists to widely predict a rate hike before the end of the year. The money market currently bets a 70% probability of a 25 basis point rate hike in September and has fully priced in a tightening of policy in December.

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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