Clean technology company RheEnergise has secured a £335,000 equity investment from the Low Carbon Innovation Fund (LCIF2) [75f994b3]. The investment provided the cornerstone to RheEnergise’s £720,000 investment round which closed in December. RheEnergise aims to secure new investment of at least £3 million to support the commercialization of its storage solution, HD Hydro, which can provide 4 to 16 hours of energy storage in the 10 MW to 100 MW power range. The company is currently investigating project opportunities in the UK and Ireland, USA and Canada, Chile, and Australia. The global market opportunity for long duration energy storage is forecast to be $4 trillion over the next 10-15 years [75f994b3].
In another development, Kilburn Engineering Ltd has acquired M E Energy Private Ltd for Rs 98.70 crore to enhance its position in the thermal engineering space [4f85dffb]. The acquisition is seen as a significant milestone in Kilburn Engineering's growth journey. M E Energy brings valuable expertise in waste heat recovery solutions, complementing Kilburn Engineering's existing portfolio of drying systems. Kilburn Engineering generated a revenue of Rs 207 crore and a net profit of Rs 27 crore for the nine months ended December 2023 [4f85dffb].
Li-Cycle Holdings Corp. has secured $75 million from Glencore plc to improve its liquidity position [6e2a374f]. The funding will support Li-Cycle as it continues its review process of its global recycling network and go-forward strategy for the paused Rochester Hub. Li-Cycle is also working with the U.S. Department of Energy on a conditional commitment for a loan of up to $375 million. Glencore has designated Li-Cycle as one of its preferred recycling partners and previously made a $200 million investment in the company. Glencore is committed to bringing circularity into the supply chain of battery materials and will be a battery feedstock partner for Li-Cycle's facilities.
Austria's RHI Magnesita plans to acquire Resco Group, a US-based producer of alumina and refractories, for an enterprise value of up to $430 million [2fe44b2e]. The acquisition will support RHI Magnesita's growth in alumina-based refractories and improve its product range for US customers. The cash consideration for the acquisition is expected to be around $324 million, funded by RHI Magnesita's existing liquidity and a new committed facility of 200 million euros. The acquisition is subject to customary closing conditions and is expected to be completed in the second half of this year [2fe44b2e].
Susie Lee, a member of Congress representing Nevada's 3rd congressional district, has acquired shares in Rheinmetall AG, a German multinational automotive parts supplier and military technology corporation. The transaction took place on May 10, 2024, with the notification date recorded as May 16, 2024. The dollar value of the trade falls within the range of $1,001 to $15,000. Lee's acquisition was conducted via a Fidelity Investments ARW Subtrust Brokerage Account owned by herself. Rheinmetall AG is headquartered in Düsseldorf, Germany, and is a leading global supplier of automotive components and defense equipment. The company's stock is traded on the over-the-counter market under the ticker RNMBY. Rheinmetall AG has shown strong financial health and market performance, with a one-year price total return of 116.83%, a market capitalization of $25.1 billion, a gross profit margin of 55.57%, and a dividend growth of 32.56%. Investors are advised to conduct their own research and consult with a financial advisor when making investment decisions [c7cc87a6].
Laurel Lee, the congressional representative for Florida's 15th district, has made a significant investment in TuHURA Biosciences, Inc. The transaction took place on May 6, 2024, and involved the purchase of a convertible promissory note loan. The investment falls within the range of $100,001 to $250,000. TuHURA Biosciences is a biotechnology company focused on healthcare solutions. Congressional members investing in the healthcare sector is a growing trend. The investment was made using Lee's personal funds and is disclosed as required by the STOCK Act. This investment could potentially influence other investors and bring attention to TuHURA Biosciences [46f7a044].
Rhea, a global reproductive health services company, has officially launched. The company aims to provide comprehensive care for prospective families across geographies. Rhea's services ecosystem includes a network of owned and partner clinics, powered by Rhea Labs, an integrated technology platform. The company has secured additional funding led by Thiel Capital to expand its footprint and service offerings. Rhea has also acquired Embryonics, integrating their AI technologies into Rhea Labs. Rhea is developing RheaX, a global gamete exchange, as part of a joint venture with Baylor College of Medicine. The company has announced a senior advisory panel consisting of experts in reproductive medicine, clinical strategy, urology, design, and sustainability. Margaret Wang, Managing Partner at Recharge Capital, is the CEO of Rhea. The company plans to continue its strategic acquisitions and expand its geographic footprint.