Carnegie snatches victory from jaws of defeat

Perth wave energy developer, Carnegie Clean Energy (ASX: CCE) appears to have avoided oblivion after creditors approved a restructuring and recapitalisation plan to save the business. The plan, developed by KordaMentha Restructuring acting as administrators of Carnegie, will see secured creditors swapping debt for equity and the raising of $5 million. Unsecured creditors will likely…

Billion dollar battery factory closer to reality

Magnis Energy Technologies (ASX: MNS) has reported positive progress by Imperium3 Townsville (iM3 TSV) developing a business case for a $2 billion lithium-ion battery cell gigafactory in Townsville. Magnis is one third owner of Imperium which said findings supported the radid development in both the business case and technical solution for a 12 GWh production…

Second battery storage company opens in Adelaide

Canadian home lithium ion energy storage system manufacturer, Eguana has opened in Adelaide, according to CEO Justin Holland. Holland tweeted about the opening, posting posting a photograph of founder Brent Harris in Adelaide taking partners through the features of the Eguana Evolve system as part of training. Holland said: “The Eguana Evolve will be manufactured…

Planet Ark Power wins award with AI-based energy system

Brisbane renewable energy technology company, Planet Ark Power has won an award in the global Start Up Energy Transition (SET) awards 2019 just finalised in Germany. The awards, an initiative of the German Energy Agency, recognised Planet Ark in the intelligent grids category, beating out 450 businesses from 80 countries. The company’s executive director, Richard…

Li-ion battery recycling boost from investment

Lithium metal technology company Lithium Australia (ASX: LIT) is to invest in Melbourne li-ion battery recycling business, Envirostream, with plans to expand its capacity. The company has invested $600,000 to take 18.9 per cent of Envirostream which operates Australia’s only plant that shreds used batteries. The process produces a powder containing the critical metal components…