Cowen Inc.

Cummins sees billions from its hydrogen electrolyzer business

The New Power division at Cummins Inc. probably won’t break even before interest, taxes, depreciation and amortization before 2027. But when it does, it may never look back. One reason is its investment in producing electrolyzers, a critical enabler to making hydrogen fuel for zero-emission long-haul trucking among myriad other uses.

IDTechEx forecasts the water electrolyzer market will grow over the next decade to $120 billion by 2033. By 2025, the firm estimates fivefold growth in electrolyzer...

https://www.freightwaves.com/news/cummins-sees-billions-from-its-hydrogen-electrolyzer-business

Last-mile startup Arrival cuts 800 jobs as it seeks survival

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Microplant developer Arrival cut 800 jobs — half of its workforce — and named a new CEO Monday. The...

https://www.freightwaves.com/news/last-mile-startup-arrival-cuts-800-jobs-as-it-seeks-survival

Cummins previews coming attractions as emissions regulations converge

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The approach of Cummins Inc. to hydrogen-fueled internal combustion engines is very different from...

https://www.freightwaves.com/news/cummins-previews-coming-attractions-as-emissions-regulations-converge

TuSimple will make driverless testing permanent en route to commercialization

Autonomous trucking software developer TuSimple will make driverless runs permanent as it gets closer to commercializing autonomous trucking on the nation’s freeways.

“Driver-out proves we are feature complete, which means our autonomous driving system has all the capabilities required for true driver operations along commercial routes. And that it is able to safely mitigate or contain all the edge cases during operations,” CEO Cheng Lu told analysts on the company’s Q4 earnings call after...

https://www.freightwaves.com/news/tusimple-will-make-driverless-testing-permanent-en-route-to-commercialization

Workhorse share collapse raises pressure on debt repayment

Workhorse Group Inc. (NASDAQ: WKHS) continued to lose investors Wednesday, a day after it was left out of a multibillion-dollar U.S. Postal Service contract to make next-generation mail delivery vehicles.

The Postal Service awarded a 10-year contract to defense contractor and off-highway equipment manufacturer OshKosh Truck Corp. (NYSE: OSK) on Tuesday. Day traders and several analysts felt the contract was Workhorse’s to lose.

Workhorse “intends to explore all avenues that are available to...

https://s29755.pcdn.co/news/workhorse-share-collapse-raises-pressure-on-debt-repayment

Laying PIPE: Additional cash raises valuations of SPAC targets

Electric vehicle and infrastructure startups continue to attract hundreds of millions of dollars from special purpose acquisition companies (SPACs) targeting business combinations and speedy public trading debuts.

Set aside the hype around the tens of billions invested in so-called blank-check companies. It is  pocket change compared to the trillions held by investment funds, venture capital and private equity, said Mark Saraiva, Cowen Inc. managing director and head of its transportation group.

“...

https://www.freightwaves.com/news/laying-pipe-additional-cash-raises-valuations-of-spac-targets