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Volkswagen
The cost of lithium-ion batteries has been dropping, but they re still expensive.
Startups with alternatives to the stalwart technology are starting to see more funding.
These companies will have to prove their technology can replace traditional lithium-ion tech at scale.
As Ford, Volkswagen, General Motors, Tesla, and the rest of the auto industry denizens prepare an onslaught of electric vehicles for the coming decades, they face a problem as stubborn as it is longstanding: The lithium-ion batteries that traditionally power these vehicles are expensive. And while costs have been steadily dropping over the last decade, continuing to cut the cost of batteries is the primary obstacle to delivering truly affordable EVs and completing the shift away from internal combustion without sacrificing the bottom line.
Hydrogen-electric powered aircraft firm backed by Bill Gates moves to Gloucestershire
Backed by Bill Gates, millions of pounds of government money, and GFirst LEP, a firm developing the world’s first commercial zero-carbon passenger plane is moving to the Cotswolds and creating jobs.
ZeroAvia, due to touch down in Gloucestershire to develop the world’s first market-ready 19-seat hydrogen-electric powered aircraft.
ZeroAvia, which has won £12 million of government funding to develop its ‘world’s leading’ innovations, has announced it is to open a major facility at Cotswold Airport at Kemble.
The UK-based Anglo American company will use Kemble to develop its HyFlyer II project, a hydrogen-electric powered aircraft which emits only water vapor during flight.
Venture capital firms this year have begun raising hundreds of millions of dollars that they plan to deploy into proptech startups aimed at taking on climate change by making buildings more sustainable.
The surge of investment, taking place across the U.S., Canada and Europe, comes as experts see multiple coinciding forces that will push developers and landlords to adopt green building technologies in the coming years.
Government action, from local building regulations to President Joe Biden s push to spend hundreds of billions on sustainable buildings, is expected to force rapid adoption of climate proptech solutions. But the movement isn t just coming from the government shareholders, lenders and tenants have been escalating pressure on landlords to make their buildings become more climate-friendly.
Artwork shows a commercial airliner with a hydrogen-electric powertrain. (ZeroAvia via PR Newswire)
Microsoft co-founder Bill Gates is putting his money as well as his mouth behind the push for new energy technologies.
First, about the money: Gates’ Breakthrough Energy Ventures is doubling down on its investment in ZeroAvia, a startup that’s working on a hybrid hydrogen-electric powertrain for aircraft capable of flying more than 50 passengers.
This week, ZeroAvia announced that Gates’ energy innovation fund is participating in a follow-up investment round amounting to another $24.3 million. This round is led by Hong Kong billionaire Li Ka-shing’s Horizons Ventures, with British Airways joining as a new investor. In addition to Breakthrough Energy Ventures, several previous investors Ecosystems Integrity Fund, Summa Equity, Shell Ventures and SystemIQ kicked in fresh funding.