Illustration: Rebecca Zisser/Axios

Equinor, the Norwegian oil-and-gas behemoth, is among two new investors in Volta Energy Technologies, a consortium that provides venture financing to startups seeking breakthroughs in battery technology.

Why it matters: The investment is a major sign of how the world's biggest oil companies are diversifying into low-carbon vehicle and grid tech, even though it remains a small part of their portfolios.

It also signals a major expansion for Volta, which launched in late 2017 and has an agreement with Argonne National Laboratory to help validate promising tech using private funds.

  • It has invested in four startups so far, including Ionic Materials, which is trying to commercialize solid-state batteries, and Conamix, which is developing a system to produce high-energy batteries with electrodes that don't rely on cobalt.

Where it stands: Equinor and the big Korean auto supplier Hanon Systems have both made a 5-year commitment, according to Volta.

  • They join existing Volta backers, which include the utility giant Exelon and the lithium supplier Albemarle, and bring the total funding to $180 million, a spokesperson said.

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Trump issues order banning TikTok if not sold within 45 days

Illustration: Aïda Amer/Axios

Americans and U.S. companies will be banned from making transactions with ByteDance, the Chinese owner of TikTok, in 45 days, according to a new executive order President Trump issued Thursday evening.

The big picture: Last week Trump announced his intention to ban TikTok but said he'd leave a 45-day period for Microsoft or other U.S.-based suitors to try to close a deal to acquire the popular video-sharing app.

Bill Hagerty wins Republican Senate nomination in Tennessee primary

Former U.S. Ambassador to Japan Bill Hagerty speaking at CPAC in 2019. Photo: Mandel Ngan/AFP via Getty Images

Former U.S. Ambassador to Japan Bill Hagerty won the Tennessee Republican Senate primary on Thursday evening, beating out surgeon Manny Sethi for GOP Sen. Lamar Alexander's seat, who announced his retirement in late 2018, AP reports.

Why it matters: Though the race narrowed in July, Hagerty — who received President Trump's endorsement in 2019 — stuck close to the president's messaging and touted his Tennessee roots.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 7:30 p.m. ET: 18,982,658 — Total deaths: 712,266— Total recoveries — 11,477,642Map.
  2. U.S.: Total confirmed cases as of 7:30 p.m. ET: 4,873,747 — Total deaths: 159,931 — Total recoveries: 1,598,624 — Total tests: 59,652,675Map.
  3. Politics: Pelosi rips GOP over stimulus negotiations: "Perhaps you mistook them for somebody who gives a damn" — Ohio Gov. Mike DeWine tests positive.
  4. Public health: Majority of Americans say states reopened too quicklyFauci says task force will examine aerosolized spread.
  5. Business: The health care sector imploded in Q2More farmers are declaring bankruptcyJuly's jobs report could be an inflection point for the recovery.
  6. Sports: Where college football's biggest conferences stand on playing.