EnerVenue, a startup that has developed an alternative to lithium-ion batteries for long-duration renewable energy storage, is raising $515 million in fresh equity, per an SEC filing seen by TechCrunch.
The company is in the process of building a gigawatt-scale factory in Kentucky to produce its nickel-hydrogen batteries, an endeavor that’s estimated to cost $264 million.
So far, EnerVenue has raised $308 million of the $515 million target, the filing says.
Nickel-hydrogen batteries aren’t as energy dense as lithium-ion, meaning they won’t be competing for space in electric vehicles quite yet.
The next challenge will be completing the factory, scaling production and sending its novel batteries out into the world.
Varda Space Industries has closed a massive tranche of funding just weeks after its first drug manufacturing capsule returned from orbit.
The pair had an audacious goal to commercialize what until very recently was promising but ultimately small-scale research into the effects of microgravity on pharmaceutical crystals.
Indeed, Varda’s first mission, which returned to Earth in February after 10-months in orbit, does not mark the first time a drug has been crystallized in microgravity.
Astronauts have been conducting protein crystallization experiments in space for decades on the International Space Station and before that, the Space Shuttle.
The startup’s next manufacturing mission will launch later this year, and the team plans to land that spacecraft in Australia.
Crucially, Tesla shipped fewer cars than it did in the first quarter of 2023, meaning this was the first year-over-year drop in sales in three years.
Production was also down year-over-year, which Tesla attributed to switching to making the new Model 3, as well as the other disruptions.
These drops come just two months after Tesla warned that sales growth could be “notably lower” in 2024 as it comes off a successful 2023 fueled by price cuts.
Bloomberg News reported last month that Tesla curtailed output at its Shanghai factory as a result of slower sales growth in the country.
Tesla tried to pull a few tricks at the end of the quarter to boost sales, as it usually does.
“And the product was electricity.”He was comparing this — turning raw material into something else that have value — to the notion of data centers, which are purely money pits.
“There’s a new Industrial Revolution happening in these [server] rooms: I call them AI factories,” Huang said.
“The raw material that goes in is data and electricity.
It’s very valuable.”The distinction makes a lot of sense in a world where Nvidia benefits tremendously if it can persuade companies to think of data centers and AI tools in a different way.
“The last time, data centers went into your company’s cost centers and capital expenditure.
Tesla’s factory outside Berlin, Germany will likely be shut down for days and cost the automaker more than $100 million, after a suspected arson attack on the local power grid.
The fire didn’t spread to Tesla’s factory and nobody was harmed, though employees were evacuated.
A purported activist organization calling itself the “Volcano Group” took credit for the fire in a letter posted online Tuesday.
The same group took credit for a similar fire near the site in 2021.
Last month, Tesla’s plan to expand the factory was also voted down by the public.
Chris Power, founder and CEO of industrial automation startup Hadrian, is a student of history.
“Never before in history has a declining empire beaten a rising empire, ever,” he said in a recent interview.
He had been running small e-commerce businesses and had been head of sales and marketing at an enterprise software company in Australia.
Construct Capital, WCM, Bracket Capital, Shrug Capital, Lux Capital, A16Z, Founders Fund, S&A, Silent Ventures, Cubit Capital, Caffeinated and other existing investors also participatedc.
Power said some customers expressed interest in alternate models, like having Hadrian build a dedicated facility to ensure committed factory capacity.
Musk said last year that Tesla plans to spend “well over $1 billion” on Dojo.
Bringing the Dojo project to Buffalo is the latest shift in Tesla’s priorities for the location, which has turned into something of a boondoggle for New York state.
“We are scaling it up, and we have plans for Dojo 1.5, Dojo 2, Dojo 3, and whatnot.
“The governor is correct that this is a Dojo Supercomputer, but $500M, while obviously a large sum of money, is only equivalent to a 10k H100 system from Nvidia,” Musk wrote in the post on X.
“Tesla will spend more than that on Nvidia hardware this year.
When Apex Space emerged from stealth last October, the company had a provocative goal: remove the “new bottleneck” hitting the space industry by manufacturing satellite buses at scale.
To get there, Apex announced today that it has opened a new headquarters and production facility in California that will eventually scale up to manufacture 50 satellite platforms annually.
Apex wants to disrupt one of the more entrenched parts of the space industry.
In general, satellite buses have been built to order at a very high cost and with very long lead times.
Apex is planning on flying its first Aries on SpaceX’s Transporter-10 ride-share mission scheduled for the first quarter of next year.
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