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In a first, ten subsidiaries of ReNew Power Pvt Limited, listed their 7.25 year $585 million foreign currency bonds exclusively on the Global Securities Market (GSM) of India International Exchange at GIFT IFSC. GSM, the primary market platform of India INX, has evoked significant interest since its establishment in 2018 and has more than $50 plus billion medium-term notes established and over $26 plus billion f bond listings to date. The 7.25-year maturity bonds have been assigned expected ratings of BB- (Positive Outlook) by Fitch Ratings and Ba3 rating by Moody’s investor services and are priced competitively at 4.50 percent.

Mr. Injeti Srinivas, Chairperson International Financial Services Centres Authority said, “Indian companies are regular issuers in the global capital markets, and GIFT IFSC offers such issuers a competitive platform for raising capital from the global investors. This exclusive listing of $585 million foreign currency bonds by Renew Power on INDIA INX is a testimony to the confidence shown by the international investors. This further reinforces the positioning of GIFT IFSC as a competitive international jurisdiction for raising capital and will be instrumental in deepening of not only debt capital market but also Equity, REITS/Invits and other instruments in international exchanges based in GIFT IFSC.”

Commenting on the listing, Mr. V. Balasubramaniam, MD and CEO, INDIA INX said, “We welcome ReNew Power on India INX and take even more pleasure in welcoming them as they have established a gateway for other Indian issuers to list exclusively on India’s own IFSC. This firmly reinforces India INX and GIFT IFSC as a credible and competitive international jurisdiction for raising capital from global investors. We thank ReNew team for reposing this trust on our platform and congratulate them on their success”.

Mr. Sumant Sinha, Founder, Chairman, and CEO of Renew Power said, “ReNew Power is delighted to be pioneering government’s efforts to promote INX and Gift City as a preferred destination for international finance. The success of our bond issue demonstrates continued global investor interest in the ESG space. Investors are keen to invest in environmentally friendly companies and projects that contribute towards a greener planet and will enable India to meet its decarbonization goals. ReNew has raised nearly $1.37 billion through bonds issued in the last six months.

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Electric vehicle manufacturer Etrio has announced that it will primarily supply 100 units of its Touro brand of e-three-wheelers to logistics startup Zypp Electric for last-mile delivery, and scale it up to 1,000 units in the following six-eight months, under a fresh partnership. To begin with, Zypp will position Etrio's Touro Mini in Delhi-NCR which will further be reinforced by presence across topographies in the country, going forward.

Besides, Etrio will also provide end-to-end service support to Zypp through its dealer network along with a devoted relationship manager for maximum uptime, it said.

"Since the launch of Touro early this year, we have seen a phenomenal response coming in from both institutional and retail customers. Touro Mini sets a new standard in the e-rickshaw/ e-loader category and the positive feedback on the product has bolstered our efforts to build best-in-class products for the last-mile delivery market," said Deepak MV, Co-founder, and CEO, Etrio.

"We are dedicated to providing the best of service to upscale Zypp's three-wheeler fleet, and to our overarching goal to become an undisputed market leader in this category," he said.

With its partnerships across e-commerce, e-grocery, hyper-local delivery merchants, Zypp provides over three lakh shipments every day, as per the press release.

Adding three-wheelers will spread their footprint and options for their customers to cover medium-to large-size shipments too. Some of their customers for which Touro would be positioned include Swiggy, Zomato, Big Basket, Apollo Pharmacy, it said.

"Zypp and Etrio share some great synergies and we are looking forward to scaling this up with both L3 and L5 models to serve the fast-growing last-mile delivery segment," said Akash Gupta, Co-founder, and CEO, Zypp Electric.

According to Etrio, its three-wheelers help the logistics and e-commerce operators supervise vehicle usage and monitor the real-time status of each vehicle including the current charging level.

The company claims that Touro saves up to 60-70 percent of the operating costs as compared to a diesel three-wheeler.

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Okinawa Autotech has announced that it has partnered with electric two-wheelers lease rental firm Welectric to work with establishments involved in last-mile delivery operations to aid them to switch their delivery fleet to electric vehicles. Welectric already has a fleet of over 150 electric two-wheelers and plans to scale it up to over 2,000 in the next 12 months. With this partnership, it will acquire electric scooters from Okinawa, comprising the latest - Okinawa Dual, a customizable B2B electric two-wheeler.

"With the rise of e-commerce and last-mile deliveries driven by the COVID-19 pandemic, it has become imperative for businesses in the delivery segment to reliably innovate, reduce operational costs, and increase efficiency, particularly amidst escalating fuel prices.

"This year, we are expecting a mass transition of two-wheeler users to electric scooters and this partnership is one step ahead in this direction," Okinawa Autotech founder and Managing Director Jeetender Sharma said Welectric founder and CEO Vikas Jain said Okinawa has done exceptionally well in the B2C market, offering various models of electric two-wheelers that match their petrol equivalents in pick-up and speed.

"With this partnership, corporates would now be able to get all-inclusive lease rental solutions on the entire range of Okinawa Electric 2Ws.

"This will make it easier for them to not just procure brand new electric 2Ws on an OPEX model, but also get convenient after-sales services like doorstep maintenance, warranty, insurance claim support, and refurbishment or upgrade options," Jain added.

Okinawa said it will train the technicians and engineers of Welectric for maintenance of their product.

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Facebook has announced that it has signed a deal with Mumbai-based CleanMax to purchase renewable energy in India from the latter’s wind power project. This is the social media giant's first such deal in the South Asian nation.

The 32 MW wind power project, located in southern Karnataka state, is part of a larger portfolio of wind and solar projects that Facebook and Mumbai-based CleanMax are working together on for supplying renewable power into India's electrical grid, they said in a joint declaration.

CleanMax will own and operate the projects, while Facebook will purchase the power off the grid using environmental attribute certificates, or carbon credits, the companies said.

Facebook's head of renewable energy, Urvi Parekh, said the company normally doesn't own the power plants but instead signs "long-term" electricity purchasing agreements with the renewable power company.

"That facilitates the project to seek out the financing that it would need," she said.

In Singapore, Facebook has announced similar partnerships with energy providers Sunseap Group, Terrenus Energy, and Sembcorp Industries on projects that can produce 160 MW of solar power, Parekh said.

The electricity generated from these plants will power the tech giant's first Asian data centre that is set to start operations next year, she added.

Data centres driving tech companies like Facebook use up as much as 1 percent of the world's total energy, the International Energy Agency said last year.

Tech companies like Amazon, Alphabet Inc, and Microsoft have vowed to operate carbon-free and achieve net-zero emissions, as demand for data and digital services is expected to see a sustained rise.

Facebook CEO Mark Zuckerberg announced that the company's global operations are now reinforced wholly by renewable energy and that it has reached net-zero emissions.

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Alaska Airlines and SkyNRG Americas have announced the signing of a memorandum of understanding (MOU) committing to surge investment in sustainable aviation fuel (SAF). The MOU builds on a long history of Alaska leadership advancing SAF and partners the airline with the global SAF pioneers at SkyNRG Americas.

"This is a critical next step in our long-term plan to reduce carbon emissions and our impact on the planet," said Diana Birkett Rakow, Alaska Airlines' vice president of public affairs and sustainability. "We have been working for more than a decade to advance SAF technology and viability, and we're excited to partner with SkyNRG's experienced team to advance truly sustainable production of SAF, develop supply in the Pacific Northwest, and engage partners for a commercially viable and scalable future for sustainable fuels."

"We are thrilled to collaborate with Alaska Airlines for the production of sustainable fuels," said John Plaza, CEO of SkyNRG Americas. "Alaska Airlines is already one of the most fuel-efficient airlines in the U.S., and an ideal partner not only to support SAF demand but also to help drive necessary policy changes that will encourage the development of the SAF industry across the Pacific Northwest and the nation as a whole."

Under the MOU, SkyNRG Americas will primarily focus on the development of devoted SAF production facilities to supply Western U.S. airports. These facilities will use commercially available technologies that enable the use of municipal solid waste and other waste-based inputs as feedstocks, as well as incorporating green hydrogen and renewable energy for minimizing carbon intensity. Beyond the focus of building out SAF production capacity, SkyNRG Americas and Alaska Airlines will continue to build awareness and understanding of SAF technologies, and advocate for public policies to accelerate the development of the SAF industry and infrastructure.

This partnership builds on the Alaska-Microsoft partnership announced in October 2020, targeting to use SAF to offset Microsoft employee travel between Seattle and San Francisco, San Jose, and Los Angeles.

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Tree Technologies Sdn Bhd (Treeletrik), a Malaysian home-grown electric vehicles (EV) maker with a presence in the ASEAN market and a subsidiary of Ideanomics has announced that it has signed a partnership to supply 200,000 units of its 100 percent electric motorbikes to Indonesia, via distributors, PT Pasifik Sakti Enjiniring and the Nahdatul Ulama Board (PBNU). The partnership extends Treeletrik's regional presence as a key player in promoting electric mobility, supporting ASEAN's energy transition agenda.

The partnership positions Malaysia as a key EV manufacturer and the first regional supplier to export units in ASEAN, in line with the region's evolving energy landscape. The region's ultimate goal of decreasing the level of final energy consumption in the road transport sector by 2040 paves the way for EV makers like Treeletrik to continue building a progressive EV ecosystem.

Commenting on the Cooperation Agreement with PT Pasifik Sakti Enjiniring, Treeletrik CEO, Datuk Viswananthan Menon said, "Treeletrik is a pioneer in bringing true electric motorbikes from Malaysia to the ASEAN region and beyond, spearheading a new way of mobility. We are thrilled to further our efforts on the regional stage through this partnership with PT Pasifik Sakti Enjiniring and PBNU in Indonesia to provide a transportation option that is clean, safe, and affordable, with our advanced EV technology. Our 100 percent electric motorbikes offer customers long-term cost savings and more importantly contribute towards an overall positive impact to the environment."

The agreement spanning three years will see Treeletrik supply electric motorbikes to be jointly marketed by PT Pasifik Sakti Enjiniring and PBNU for the Indonesian market. PT Pasifik Sakti Enjiniring which operates the electric motorbikes brand, MOLINUS (Motor Listrik Nusantara), will now add Treeletrik's 100% electric motorbikes to its portfolio. A joint venture is also in the pipeline between Treeletrik and PT Pasifik Sakti Enjiniring to establish an assembly plant in Indonesia in anticipation of the growing demand for electric motorcycles. The move will serve as a positive boost to Indonesia's economy through talent development, job opportunities, and technology transfer.

The new electric motorbike range, certified in Europe and Malaysia with UNECE WP.29, will feature Treeletrik's signature quick swap lithium battery technology. With an average speed of 65-90 km/hour, the e-motorbikes have a travel range of 85 to 120 km. Aligned with the Indonesian government's program concerning the Acceleration of the Battery-Based Electric Motor Vehicle Program, the Indonesian parties are optimistic about demand and set sales targets at 10,000 units for the year 2021 and completing the 200,000 units by end of 2023. The full agreement will be disclosed via an 8-K filing

Positioned for growth

Treelektrik's newest regional distribution partnership taps into Indonesia's large population of motorbike users, a positive growth indicator for the brand. Treeletrik's portfolio of electric motorbikes and electric commercial vehicles seeks to redefine the EV industry and future of mobility in Malaysia and ASEAN.

In preparation to fulfill its growing order books, the company is investing in its assembly, production, and marketing facilities, initially in Selangor, Malaysia, and later at a new facility in Gebeng, Pahang in Malaysia. It also plans to establish an assembly plant in Indonesia, in conjunction with the distribution partner, to streamline supply chain efficiencies and improve margins through local assembly in markets with sufficient demand.

Electric powered innovation

Treeletrik's approach to mobility eliminates the need for fossil fuels and oil changes, resulting in zero carbon dioxide (CO2) emissions. Additionally, Treeletrik e-motorbikes offer users long-term cost-saving benefits, saving users above 50% in daily running and maintenance costs. The e-motorbikes can travel up to an estimate of 80 to 120 km daily (Averaging 70,000 kilometers over 36 months) and costs RM0.01 (one sen) to RM0.02 (two sen) to run per km, based on the Tenaga Nasional electricity rate at RM0.571 / KwH charging at its highest tariff.

Fulfilling the demand for EV

Determined to help raise the bar for electric mobility in ASEAN countries, Treeletrik continues to receive positive demand for its 100% electric motorbikes. The EV player began exporting an estimated 50 units of electric motorbikes to Thailand and Indonesia in 2020, with an additional 15,000 units due to be exported this year. Other markets Treeletrik is eyeing as potential customers include The Philippines and Cambodia.

"The sizeable orders secured to date and ongoing discussions with other countries expressing keen interest on Treeletrik's e-bike range, will result in a significant expansion in both Malaysia and international operations of Treeletrik." added Menon.

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Redefining the evolution of EVs in Thailand, EVLOMO and PTT Oil and Retail Business PLC (OR) have announced that they have launched their first DC Fast charging station at PTT Station, in Ban Chang, Rayong which is a part of The Eastern Economic Corridor, Thailand.

EVLOMO is committed to green and sustainable initiatives. In its quest to take rapid strides for sustainable development, EVLOMO continues to embrace emerging technologies in the realm of electric vehicles, EV charging, solar, energy efficiency, and battery storage.

EVLOMO will install more than 1,000 new fast chargers to spur the EV revolution in Thailand, and target to achieve DC charging availability every 50 Kms on their charging network. EVLOMO is also entering into residential EV charging space by introducing AC chargers and will install a mix of AC and DC Fast chargers at Various Universities, Schools, Hospitals, Hotels amongst other locations spread all over Thailand. In the coming weeks, EVLOMO also plans to finalize the launch of Pure EV stations across Thailand.

The Thai government has set an ambitious goal for the adoption of EVs in Thailand by 2035. Without adequate EV charging infrastructure, the rollout of EVs at such a scale is not possible. EVLOMO is working to fill up the charging infrastructure gap by bringing in world-class AC and DC charging technology to Thailand. EVLOMO believes that EVs are for everyone and the idea of plugging in an EV whenever and wherever it is parked is core to EVLOMO's philosophy.

Powered by state-of-the-art technology from Tritium, the market leader in DC charging whose current customers include Chargepoint, Ionity, Blink Charging, Proterra, Shell, among several more. These superfast DC chargers will be EV owners whose automobiles are compatible with the CCS/ CHAdeMO charging standards.

"E-Mobility is an irreversible mega-trend and an imperative for addressing pollution and generating job opportunities in Thailand. Through our EV charging network, we intend to develop a holistic e-mobility ecosystem to accelerate the adoption of EVs in Thailand. As part of this resolve, we have also started partnering organizations to set up a network of e charging stations – both for the captive use and for our consumers," said Nicole Wu, CEO of EVLOMO.

"Further strengthening our commitment to Thailand, we aim to provide our customers with a robust charging ecosystem to promote the adoption of electric mobility. With a partner like PTT Oil and Retail Business PLC, a renowned major energy and retail industry, we are confident that we will together create unique synergies."

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McDermott International, Ltd and New Energy Development Company LLC have announced the accomplishment of engineering for two transformative 50-megawatt energy projects. Each modular, expandable hydrogen facility will produce nearly 24,000 kilograms per day of renewable hydrogen.

"The engineering ingenuity of this design became a reality through the collaboration of many skilled and talented individuals across our two companies," said Cesar Canals, Senior Vice President of CB&I Storage Solutions. "Companies all over the world are looking for tangible solutions to reduce their carbon footprint and this design provides a valuable hydrogen solution to accomplish that goal."

Each facility weights New Energy's proprietary design to power a series of electrolyzers to produce green hydrogen and oxygen. The design also delivers the flexibility to incrementally expand production and storage capabilities through modular additions.

"Working closely with our strategic partner, CB&I Storage Solutions, we believe New Energy's innovative, flexible design can provide the most cost-effective application of green hydrogen technologies for the natural gas industry," said Alexander "Hap" Ellis, New Energy Managing Partner

The hydrogen design is ideal for grid-scale blending with natural gas pipelines, blending existing or new power generating facilities, and energy storage injection into salt caverns and above-ground storage tanks. The facility design allows for incremental 15 megawatts of 100 percent hydrogen-fueled power generation to support grid-scale energy storage applications.

"As we look toward the future, we strongly believe that hydrogen will have a very prominent role and we will continue to apply our collective expertise to make that future a reality," said Matthew Harwood, McDermott's Senior Vice President of Strategy, Risk, and Sustainability.

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Kabira Mobility has announced that it has launch Hermes 75, its high-speed delivery scooter. The newly launched EV is a ‘Made in India’ product and the company states that it has been designed to provide eco-friendly mobility solutions to the last mile delivery partners. Hermes 75 is available in both, fixed and swappable battery options. While the fixed battery gives a range of up to 120 kms, the swappable battery allows the rider to cover 80 kms in a single full charge in standard conditions.

The top speed of the electric scooter is 80 kmph that makes it one of the fastest electric commercial two-wheelers available in the market. Hermes 75 electric scooter has been fitted with 12-inch wheels and gets features like a dual disc synchronized braking system, all-digital dashboard, a mobile app with IoT.

The company claims that the Hermes 75 is the first commercial delivery electric two-wheeler approved under the FAME II Subsidy. Hermes 75 is priced at Rs 89,600 (Ex-showroom, Goa) and will be available at all of the company’s showrooms starting June 2021.

Kabira Mobility’s product portfolio already involves two electric bikes namely KM3000 and KM4000.

Commenting on the launch, Jaibir Singh Siwach, CEO, Kabira Mobility said that the company is in sync with the Government of India’s vision of providing green mobility to all. He adds that with the launch of Hermes 75, the brand intends to reach out to the last mile delivery partners and provide them eco-friendly mobility solutions. He also stated that the low operational and maintenance cost will make it the right choice for the riders and partners as well.

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Electric vehicle startup Rivian, backed by Amazon.com Inc and Ford Motor Co, has announced that it has join forces with Samsung SDI as its battery cell supplier.

Rivian had been working with Samsung SDI “throughout the vehicle development process”, according to a declaration.

Rivian anticipated R1T pickup and R1S SUV, known as “adventure vehicles,” necessitate a battery module and pack that can handle extreme temperatures and durability use cases.

South Korea-based Samsung SDI already supplies battery cells to other manufacturers. In 2019, the company signed a $3.2 billion deal with BMW Group for a 10-year supply agreement.

“We’re excited about the performance and reliability of Samsung SDI battery cells combined with our energy-dense module and pack design,” RJ Scaringe, CEO, Rivian said in a declaration.

“Samsung SDI’s focus on innovation and responsible sourcing of battery materials aligns well with our vision.”