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Today’s Highlights:
🔝Top Story: BII Pledges $33.5M to Advance India’s EV Sector and Energy Transition.
💲Investment: Canada invests $12.5M in BC decarbonization, MGA Thermal raises $14.15M for energy storage, and MaRS receives $3.5M for cleantech innovation.
🔬 Innovation: Shinshu University develops photocatalytic sheets for hydrogen fuel from water, and Tesla plans to launch its hydrogen-powered Model H in 2026.
🔄 Integration: The European Commission has launched a €1.2 billion auction to support renewable hydrogen projects in the EEA, with €200 million allocated for the maritime sector.
💡 Intelligence: Demystifying Canada’s Carbon Markets – an Interview with Andre Fernandez.
BII Pledges $33.5M to Advance India’s EV Sector and Energy Transition
Image Credit: BII
Funding Highlights
British International Investment (BII) announced $33.5 million in new commitments to India’s EV sector. This includes $15 million in debt financing for Everest Fleet, $15 million in equity for TI Clean Mobility, and $3.5 million for Vecmocon. These investments span the EV value chain, supporting fleet expansion, low-carbon vehicle manufacturing, and advanced R&D for critical EV components.
Impact on India’s EV Landscape
The funding addresses key challenges in India’s EV adoption, such as high costs and limited infrastructure, while contributing to the EV30@30 target of 30% EV penetration by 2030. Everest Fleet will add 1,300 EVs to its portfolio, TI Clean Mobility will scale low-carbon vehicle production, and Vecmocon will enhance R&D to support smarter EVs, helping reduce emissions and create jobs across the sector.
BII’s Broader Climate Commitment
These investments align with BII’s strategy to support sustainable mobility and climate initiatives in India, where it plans to invest up to $1 billion in green technologies. Previous commitments include financing for EV manufacturers, battery-swapping networks, and charging infrastructure, demonstrating a holistic approach to fostering India’s energy transition. Read More
Investment Highlights of the Day
- Canada is investing $12.5 million in six projects to decarbonize British Columbia’s industries, including CO2 capture from forestry byproducts and renewable fuel alternatives for pulp mills. Read More
- MGA Thermal has raised $14.15 million to date, with Electrifi Ventures and Climate Salad joining its cap table as the company advances its renewable thermal energy storage technology. Read More
- MaRS Discovery District has received a $3.5-million RBC grant to support cleantech innovation, including accelerators for women entrepreneurs and corporate decarbonization. Read More
Innovation Highlights of the Day
- Scientists at Shinshu University have developed photocatalytic sheets and a proof-of-concept panel reactor, advancing the potential to refine hydrogen fuel from water using sunlight. Read More
- Elon Musk announced that Tesla plans to launch its first hydrogen-powered vehicle, the Model H, in 2026, marking a shift to hydrogen fuel cells as part of its strategy to diversify its offerings and stay competitive. Read More
Integration Highlights of the Day
The European Commission has launched the second auction under the European Hydrogen Bank, allocating €1.2 billion to support renewable hydrogen producers in the EEA, with €1 billion dedicated to production projects across sectors and €200 million for maritime sector projects.
Climate Insider Intelligence: Demystifying Canada’s Carbon Markets – an Interview with Andre Fernandez
Canada’s carbon markets hold immense potential for climate action and economic growth. But navigating this complex landscape can be daunting. In an exclusive interview with Climate Insider, Andre Fernandez, CEO of Invert Inc., reveals how his company is reshaping Canada’s carbon market system by focusing on transparency, quality assurance, and cross-jurisdictional solutions.
Learn how Invert is making carbon markets more accessible and trustworthy, while helping businesses meet their sustainability goals and contribute to Canada’s climate targets. Discover Fernandez’s insights on the evolution of carbon pricing, challenges ahead, and the transformative role carbon markets can play in driving a green economy.Read on for a deeper dive into the future of carbon markets in Canada and how Invert is leading the charge. Read More
