Shell Buys Electric Vehicle Charging Company Volta

Oil major Shell continues to build it’s renewable energy portfolio with the purchase of electric vehicle charging company Volta fort ~$169M. VLTA was trading higher at $0.8899 +0.1628 (+22.3903%)pre-market on the news. Volta (VLTA) went public in August 2021 as part of its merger with special purpose acquisition company TortoiseCorp II and briefly traded over $15 in 2021 with the SPAC mania. Under the deal terms, Shell USA Inc. (SHEL) will acquire all outstanding common shares of Volta (VLTA) at … Continue reading “Shell Buys Electric Vehicle Charging Company Volta”

Piedmont Lithium Surges on Amended Tesla Deal for Spodumene

Piedmont Lithium amended its agreement with electric vehicle maker Tesla to deliver approximately 125,000 metric tons of spodumene concentrate (SC6) to Tesla. The deal begins in the second half of 2023 through the end of 2025 with an option to renew for an additional three years. Piedmont Lithium shares $PLL are trading higher+7.9%, with an option to renew for an additional three years. Tesla Inc. is set to pay more for the lithium after PLL amended their deal amid the … Continue reading “Piedmont Lithium Surges on Amended Tesla Deal for Spodumene”

Elon Musk’s SpaceX Valued at $137 Billion in New Funding Round

Space Exploration Technologies Corp. (SpaceX), the most valuable private company in the US, is reported to be raising $750 million in its latest funding round putting the value at $237 Billion according to a CNBC report. The company was offering the shares for $77 apiece in December according to people who asked not to be identified because the information wasn’t public. The $137 billion figure compares with a $127 billion valuation in July, according to data provider PitchBook. Andreessen Horowitz … Continue reading “Elon Musk’s SpaceX Valued at $137 Billion in New Funding Round”

Microsoft to Acquire 4% Stake in London Stock Exchange in Cloud Migration Deal

Microsoft on Monday announced they are to acquire a 4% equity stake in the London Stock Exchange Group, which owns the London Stock Exchange. The deal is part of a ten-year commercial deal with the $LSEG to migrate the exchange operator’s data platform into the cloud. MSFT will enable digital transformation of LSEG’s technology infrastructure and Refinitiv platforms on to the Microsoft Cloud. Microsoft will buy LSEG shares from the Blackstone/Thomson Reuters consortium, the British exchange operator said. The transaction … Continue reading “Microsoft to Acquire 4% Stake in London Stock Exchange in Cloud Migration Deal”

NRG Energy to Buy Vivint Smart Home in $5.8 Billion Deal

NRG Energy Inc. on Tuesday said it agreed to buy Vivint Smart Home Inc., for $2.8 billion in cash the assumption of $2.4 billion of the company’s debt for a total deal value of $5.2 billion. NRG, which produces and sells energy services, said it would pay $12 a share for Vivint, a 33% premium to Vivint’s closing share price on Monday. NRG is effectively betting on the smart device market by buying $VVNT which offers integrated home systems that … Continue reading “NRG Energy to Buy Vivint Smart Home in $5.8 Billion Deal”

Shell to Buy Danish Biomethane Producer in $2 Billion Deal

Shell PLC is expanding its renewable energy portfolio buying Denmark’s Nature Energy Biogas A/S it said Monday. Nature Energy is Europe’s biggest producer of biomethane from organic waste. The renewable fuel can replace conventional natural gas in heavy road and marine transport, industry and heating. Shell’s acquisition follows BP agreeing to buy U.S. biogas producer Archaea Energy Inc. for $3.3 billion plus debt, for a total of $4.1 billion six weeks ago. Chevron Corp. earlier this year paid $3.15 billion … Continue reading “Shell to Buy Danish Biomethane Producer in $2 Billion Deal”

S&P Global Ratings Settles Conflict of Interest Violations with SEC

The US Securities and Exchange Commission on Monday charged S&P Global Ratings with conflict-of-interest violations. The SEC said the ratings agency violated conflict of interest rules designed to prevent sales and marketing considerations from influencing credit ratings. In the same press conference, the SEC announced S&P Global had settled for $2.5 million quickly putting the story to bed would be the hope. There was no word on why the SEC has been deathly quiet on the FTX fraud, collapse and … Continue reading “S&P Global Ratings Settles Conflict of Interest Violations with SEC”

BBQ Grill Maker Weber Fully Cooked, Pops 30% after Major Shareholder Bids for Remaining Shares

Weber, a leading outdoor grilling brand, saw its stock jump 30% after major shareholder BDT Capital Partners, the Chicago-based investment firm and merchant bank founded and led by Byron Trott, offered to buy the remainder of shares it doesn’t already own. According to a 13D filing the company has a stake of 88.9% in WEBR and offers $6.25/share in cash which represents a 24% premium to Weber’s closing price on Monday. Well down from the August 2021 IPO price of … Continue reading “BBQ Grill Maker Weber Fully Cooked, Pops 30% after Major Shareholder Bids for Remaining Shares”

GM Secures Nickel and Cobalt for New EVs with Queensland Pacific Metals Investment

Auto giant GM on Tuesday announced a new strategic collaborative agreement to secure a source of nickel and cobalt with Australian company Queensland Pacific Metals. The deal secures a source of nickel and cobalt for the production of new GM Ultium batteries. GM’s goal is reaching 1 million units of EV production capacity in North America by mid-decade. $GM says the raw materials will be used in building a broad range of all-electric vehicles, including the Chevy Silverado EV, GMC … Continue reading “GM Secures Nickel and Cobalt for New EVs with Queensland Pacific Metals Investment”

Nauticus Robotics Stock Soars 96% after Awarded U.S. Defense Contract for Autonomous Amphibious Robot

Nauticus Robotics a Houston developer of autonomous ocean robots stock soared to 6.32 up $3.10 or 96.27% after it announced it had been awarded a second multi-million-dollar contract by the U.S. Defense Innovation Unit (DIU). The award was for the development of an amphibious unmanned system utilizing the Company’s autonomous command and control software platform, ToolKITT. This follows Nauticus’ previous DIU contract on February 15, 2022, where ToolKITT is being utilized aboard the U.S. Navy’s Defender Mission Specialist. The remotely operated vehicle systems … Continue reading “Nauticus Robotics Stock Soars 96% after Awarded U.S. Defense Contract for Autonomous Amphibious Robot”