LONDON, UK: Octopus Renewables Infrastructure Trust plc (ORIT) has entered into a conditional agreement to sell the Krzecin and Kuslin onshore wind farms in Poland to an affiliate of ORLEN S.A. On completion of the transaction, ORIT expects to receive net proceeds, following the repayment of asset level debt and termination of hedging arrangements, of…
600 Groupto sell 80% shares in TYKMA Electrox and Control Micro Systems laser business
LONDON, UK: The 600 Group Inc. entered a non-binding letter of intent (LOI) with a U.S. based operationally-oriented mid-market private equity firm regarding the potential disposal of a majority interest in the business and assets of the Group’s wholly owned TYKMA Electrox and Control Micro Systems industrial laser businesses in the U.S. The LOI envisages…
AssetCo plc announces sale of interest in River & Mercantile Infrastructure (RMI)
LONDON, UK: AssetCo and its wholly owned subsidiary, River & Mercantile Holdings Limited have reached agreement in principle for the transfer of their interest as corporate partner in RMI, to partners of RMI led by Ian Berry, managing partner of RMI. Partners of RMI have agreed terms with AssetCo and Holdings to continue managing and…
Tesla cuts prices of Model 3 and Model Y by thousands of dollars in the U.S.
Tesla reduced the prices of its Model 3 and Model Y vehicles in the U.S. by around 2.7% to 4.2%, according to the electric vehicle (EV) maker’s website on Thursday, following a similar move for its premium Model S and Model X cars about a month ago. Tesla has been lowering prices aggressively this year…
Sutter Hill leads $50M debt financing for Observe, a unified observability cloud startup
Observe, a startup based in San Mateo, has secured $50 million in series A3 debt financing from Sutter Hill Ventures. The company, which was founded by former leaders of Snowflake, Splunk, Wavefront and Roblox in 2017, provides a unified observability cloud that enables faster and easier application troubleshooting and incident resolution. Observe also launched the…
Beeline Academy launched to help train youth with emphasis on data protection, cybersecurity, and AI
AMSTERDAM: VEON Ltd., a global digital operator that provides converged connectivity and online services, announced that its Beeline Uzbekistan, its digital operator in Uzbekistan, opened the Beeline Academy in Tashkent to help train IT, AI, cybersecurity and data protection experts. The Beeline Academy was opened in cooperation with the Tashkent International University of Education or…
New £150m fund to boost smaller businesses in Scotland
The British Business Bank has launched a new £150m Investment Fund for Scotland (IFS) to help smaller businesses across the country to prosper and thrive. The IFS is the first solely UK government-backed investment fund for smaller businesses in Scotland and aims to increase sustainable economic progress by supporting new and growing businesses through investment…
Toyota partners with LG Energy Solution to boost its electric vehicle production in the U.S.
Toyota, the world’s largest automaker, has signed an agreement with South Korea’s LG Energy Solution to supply lithium-ion batteries for its electric vehicles that will be assembled in the U.S. The deal will support Toyota’s ambitious plan to offer 30 battery-electric vehicle models across its Toyota and Lexus brands and produce up to 3.5 million…
British car sales up 20% in September 2023, but electric vehicles lag behind
The latest data from the Society of Motor Manufacturers and Traders (SMMT) showed that new car registrations in Britain increased by about 20% in September compared to the same month last year. The growth was mainly driven by fleet buyers, while private consumers remained cautious. The data also revealed that battery-electric vehicles (BEVs) saw an…
Essar Oil UK secures $150 million financing for working capital and low-carbon refinery project
Essar Oil UK Ltd. (EOUK), a subsidiary of Essar Energy Transition (EET), has secured $150 million in financing from Hamburg Commercial Bank AG and Mizrahi Tefahot Bank Ltd. for working capital and general expenses. The financing will help EOUK strengthen its customer relationships, increase its sales volumes and optimize its longer term financing strategy. EOUK…
MERGE acquires Zee Jay Digital to boost content supply chain management
MERGE, a company that combines storytelling and technology to promote health, wealth and happiness, has announced the acquisition of Zee Jay Digital, a leading Adobe Workfront platform partner. The deal will enhance MERGE’s Adobe platform capabilities and enable it to manage content supply chains more effectively for its clients. Zee Jay Digital is a US-based…
Horizon Minerals acquires lithium prospects near Greenbushes mine
SYDNEY, AUSTRALIA: Horizon Minerals Limited, a Western Australian mining company, has announced that it has entered into an agreement to acquire 100% interest in two greenfield lithium prospects near Bridgetown, less than 20km from the world-class Greenbushes lithium mine. The acquisition cost is $75k in cash and 4 million Horizon shares. The two acquired projects…