Governors Wind Energy Coalition
SPAC Crackdown Threatens Gauzy Forecasts That Power EV Startups Source: By Crystal Kim, Bloomberg • Posted: Tuesday, May 4, 2021
The marriage between SPACs and clean-tech vehicle startups is on the rocks as regulators push for detail on the one thing most of them lack: a solid business.
Stocks of electric-mobility firms like Nikola Corp., Lordstown Motors Corp. and Romeo Power Inc. that went public by merging with special-purpose acquisition companies are down at least 69% from dizzying peaks, as investors question whether their visions for a greener future are divorced from reality.
For months, the SEC has raised concern that investors aren’t fully informed of risks embedded in SPACs, also known as “blank-check” companies. The agency warned in early April that the safe-harbor provision which allows sponsors, targets and others to make business projections protects participants only from private lawsuits, not SEC
Li-Cycle Further Strengthens Leadership Team with Two Strategic Hires – Consumer Electronics Net
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How urban mining could someday replace pulling minerals from the ground — podcast
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Thereâs a race going on right now to remake the North American recycling landscape.
This week Down to Business features Ajay Kochar, chief executive and co-founder of Mississauga-based Li-Cycle Corp, a lithium-ion battery recycling business that projects it could hit $985 million in revenue by 2025.
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It claims it can recover more metals, with fewer emissions at less cost than existing recyclers.
For now, itâs focused on building infrastructure including 20 collection facilities around the continent, called spokes, where it can grind up batteries from phones, tablets even electric vehicles, before sending that matter off to centralized hubs where the most valuable metals can be extracted.