The transaction should be finalized by the end of the month, with the deal amounting to a $320 million equity investment.
Tesla acquired the Californian supercapacitor maker in 2019, leading some to speculate its EVs would use ‘supercaps’ for top acceleration. Two years on, it appears Elon Musk has moved on and sold Maxwell to UCAP Power, but Tesla has retained the company’s dry electrode tech.
Polluting energy sources received more than $3 trillion from the EU and 19 of the world’s largest national economies over that four-year period, despite G20 members having pledged to phase-out fossil fuel subsidy and address climate change back in 2009.
Canadian Solar has banked the cash for its growing portfolio of solar projects in a nation which had module demand of 5 GW last year.
New tech which can store power for longer than four hours can secure up to €14 million each towards their demonstrator project costs.
Many industry sectors across the world are currently being hit by a semiconductor chip shortage as major manufacturers are unable to meet demand. According to Cormac Gilligan, an associate director at IHS Markit, solar and energy storage manufacturers are being less affected. In general, the solar and energy storage industries have learned lessons from being impacted by semiconductor components, for example, transistors, capacitors and resistors in prior years, Gilligan told pv magazine.
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