Biz Briefs: Companies Grow in EV, AI, and Energy Sectors

Leaders and innovators in the energy and electric vehicle sectors are making strategic moves to meet the worldwide need for diversified energy sources and advanced technologies. Latest developments include acquisitions, fundraising, partnerships, and expanded production lines.

Assembly line for e-truck. Image used courtesy of MAN Trucks

TDK Adds RF Power Business to Grow AI Ecosystem

TDK Corporation has acquired QEI Corporation’s power business, which will enable TDK to strengthen its offerings in AI, IoT, data center, and electric vehicle applications. TDK already serves these markets with DC power supplies.

The acquisition will help TDK meet the need for more advanced fabrication equipment. QEI designs and develops RF power generators and impedance matching networks for plasma processing in semiconductor manufacturing. Its RF power solutions include deposition and etch.

Integrals Power Partners for LMFP Battery Supply Chain

Integrals Power has joined with Euro Manganese to secure a sustainable supply chain for high-purity manganese iron phosphate (HPMSM), crucial for its lithium manganese iron phosphate (LMFP) cathode materials.

Euro Manganese produces the HPMSM in the Czech Republic. The partnership will reduce U.K.-based Integrals Power’s reliance on Chinese supply chains. China produces more than 90% of manganese iron phosphate.

LMFP pouch cell. Image used courtesy of Integrals Power

The move will enable Integrals Power to commercialize its LMFP technology and scale up its mass production capacity from its current 20 tonnes per year. The company expects demand for LMFP to grow, especially for electric vehicle batteries. The batteries are less expensive, safer, and more thermally stable than nickel manganese cobalt chemistries.

The partnership has an initial term of seven years with a renewal option.

Bill Gates-Backed TerraPower Raises $650 Million

NVentures, Nvidia’s venture capital division, is among investors in a new round of funding for TerraPower, a nuclear energy innovation firm founded by Bill Gates. The company raised $650 million from new and existing investors, including HD Hyundai, for its advanced nuclear reactor and gigawatt-scale energy storage system, called Natrium.

TerraPower began construction last year of non-nuclear areas of its first plant in Wyoming. The company expects approval for its nuclear reactor next year. Additional units are planned across the U.S. and abroad.

Concept for Natrium reactor and storage facility. Image used courtesy of TerraPower

Scale Microgrid Totals $1 Billion in Fundraising With $275 Million Addition

Scale Microgrids has raised $275 million in funding for its distributed energy generation projects. The new funds raise the company’s funding to $1 billion to date.

Scale Microgrids develops microgrids, battery storage installations, and community-scale solar and storage. Projects are under construction or planned in California, Connecticut, New York, New Jersey, and Pennsylvania.

Leading investors were KeyBanc Capital Markets, Cadence Bank, and New York Green Bank. Other lenders include Investec, Connecticut Green Bank, and Mitsubishi HC Capital America.

MAN Trucks Begins Production of Electric Trucks

MAN Truck & Bus has begun production of electric trucks in its Munich plant. The company aims to deliver 1,000 trucks by the year’s end.

MAN electric truck. Image used courtesy of MAN Trucks

The battery-electric trucks range from 12 to 50 tonnes and include long-haul trucks and smaller vehicles such as collection trucks. The e-truck uses three to six nickel manganese cobalt batteries, which provide a total gross capacity of 534 kWh, enabling a 500-kilometer range on a single charge. A seventh battery is optional, enabling a range of up to 740 km.

MAN has already manufactured and delivered about 200 e-trucks and has received orders for an additional 700. One truck, the Ultra-Lowliner semi-trailer tractor, is already on the road in Wolfsburg and Bavaria.

The Munich production line will also include diesel trucks. The company states that the trucks will help Europe meet its goal of becoming carbon-neutral by 2050.