Northvolt, a Swedish maker of lithium-ion batteries that once was valued by venture capitalists at nearly $12 billion, has filed for bankruptcy.
Why it matters This is a massive blow to Europe's EV manufacturing goals, as Northvolt was viewed as the best homegrown chance for reducing reliance on China.
The odds of COP29 endingFriday went from slim to none as summit hosts unveiled draft finance goals falling far short of what vulnerable countries and analyses say are needed.
Why it matters: The UN climate talks' main goal this year is a new deal to vastly boost climate aid from wealthy industrial powers to developing nations.
A powerful atmospheric river-fueled storm lashing the Pacific Northwest left Northern California under a high risk for excessive rainfall and southern Oregon under moderate risk on Thursday night.
The big picture: The heavy rain, snow and "life-threatening" flood threats that are tied to an abating bomb cyclone are expected to last into early Saturday and forecasters said potentially record rainfall was possible, as Santa Rosa in California's Sonoma County was flooded with heavy rains. The storm system killed at least two people in Washington earlier this week.
The latest from UN climate talks in Azerbaijan is pretty on the nose for these summits: big talk of future action blended with struggles to make tangible progress in the now.
State of play: Negotiations on the main business at hand in Baku — a new climate finance deal — are far from resolution.
Tokamak Energy, a British fusion energy developer, raised $125 million jn new funding.
Why it matters: The AI revolution needs more power, and one of its second-order impacts is driving venture investment into nuclear fusion, which remains the holy grail for energy.
A company using artificial intelligence-driven methods announced a significantly expanded find of a large deposit of palladium, platinum and nickel in southeastern Australia, the company's founder first told Axios on Thursday.
Why it matters: Palladium and other related metals are vital to the transition to cleaner energy technologies, with uses in catalytic converters, hydrogen fuel cells and solar panels.
The Pacific Northwest was being slammed by a powerful, enduring storm system through Wednesday night that's brought high winds, flooding and left thousands without power.
The big picture: As a bomb cyclone that killed at least two people in Washington eased somewhat Wednesday evening, a strong atmospheric river was ramping up and taking aim at southwestern Oregon and Northern California — where the Weather Prediction Center warned of excessive rainfall risks through Friday.
