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According to the Financial Times, UK financial regulators are conducting an urgent assessment of the risks of Anthropics latest AI model.On April 12th, Maybank senior strategist Fiona Lim stated that while the market may be somewhat disappointed by the lack of progress in US-Iran negotiations, this was not entirely unexpected. The US dollar may gain further upward momentum at the opening on Monday. Some Asian currencies, particularly those of net energy importers such as the South Korean won, Philippine peso, Japanese yen, and Thai baht, began to weaken last Friday and may continue to face pressure this week.On April 12th, Saxo Banks Chief Investment Strategist, Charu Chanana, stated that the failure of the US-Iran negotiations was a setback. For the market, this means the previous easing of tensions is likely to fade. Oil prices may rebound, risk sentiment will be dampened again, and the Strait of Hormuz, even without a complete closure, will remain a real choke point risk. However, this is not surprising given the significant differences in the two sides positions on nuclear safeguards and the Strait of Hormuz issue. For the US dollar, this means some renewed safe-haven support, but unless there is a new military escalation, a broad-based surge is unlikely. Gold may benefit from renewed geopolitical hedging demand, but the market is not yet fully back to the worst-case inflation shock scenario.Kremlin: Russia is prepared to sell natural gas to Europe if there is still a surplus in supply to "alternative markets".Kremlin: Russia currently has only 17% to 18% of Donetsk Oblast in Ukraine out of control.

ONE, A $1.2 Billion Electric Vehicle Battery Maker, Raises $300 Million

Haiden Holmes

Feb 01, 2023 14:57

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Our Next Energy (ONE), a battery startup based in Michigan, announced Wednesday that it has secured a $300 million Series B fundraising round, valuing the three-year-old company at $1.2 billion.


The most recent investment round, led by Franklin Templeton and Fifth Wall, makes Our Next Energy one of the most valuable privately held battery companies in the United States.


ONE is providing prototypes of its Aries I battery pack to various companies for testing, and plans to begin manufacturing Aries II lithium iron phosphate cells at a new facility in Van Buren Township, southeast Michigan, next year, according to ONE's chief executive Mujeeb Ijaz.


Ijaz stated that the plant's initial capacity will be around 2 gigawatt-hours, increasing to 10 GWh by 2026 and 20 GWh by 2027. Eventually, the plant will make Aries II packs and have a prototype line for the dual-chemistry Gemini cells, which ONE plans to begin manufacturing in 2026.


Ijaz stated that the company is evaluating the possibility of constructing a second building on the Van Buren site, as well as the necessity for a second location based on customer demand.


Additionally, ONE is in negotiations with possible North American suppliers of battery raw materials, which might enable the company and its clients to take advantage of Inflation Reduction Act incentives.


Temasek, Coatue, Riverstone Holdings, AI Capital Partners, and Sente Ventures are among the latest investors.


"These are the types of investors who are less concerned with the current economic climate than they are with this century-long shift to electricity," Ijaz explained.


In the Series B round, BMW iVentures, Assembly Ventures, Breakthrough Energy Ventures, Volta Energy Technologies, Flex (NASDAQ:FLEX), and Coatue completed a convertible note for $62.5 million.

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