Lordstown Motors

Hyzon becomes latest SPAC-backed startup to crash

Even with a stream of positive news releases, the signs and warnings for Hyzon were there. Now reality has arrived: Fuel cell developer Hyzon Motors is the latest startup to give up after going public during the SPAC craze of 2020-2021.

Hyzon fought through numerous obstacles, including a $25 million fine from the Securities and Exchange Commission related to fabricating orders for hydrogen-powered commercial trucks in China.

The spinoff of Singapore’s Horizon Fuel Cell Technologies chased the...

https://www.freightwaves.com/news/hyzon-becomes-latest-spac-backed-startup-to-crash

Reverse stock splits: Often a path to oblivion

The reverse stock split, a form of financial engineering that artificially boosts a company’s stock price, often sounds a death knell, especially for startups that exhausted funds in mergers with special purpose acquisition companies.

The widespread carnage of failed advanced technology startups, especially in electrification and autonomy, is remarkable. With a few exceptions, companies opting for a reverse split end up on a path to oblivion.

All hat, no cattle

According to the independent Financia...

https://www.freightwaves.com/news/reverse-stock-splits-often-a-path-to-oblivion

Will natural gas payback beat EV adoption?

The confluence of a new, bigger engine, net-zero carbon emissions from renewable natural gas (RNG) and pressure from shippers for their carriers to operate sustainably add up to a bright picture for natural gas adoption.

But a new study from the North American Council for Freight Efficiency (NACFE) points to a couple of cautions. First is methane leakage from the source of the RNG. Methane escaping into the atmosphere is a huge contributor to planet-warming greenhouse gas.

Second, and most...

https://www.freightwaves.com/news/will-natural-gas-payback-beat-ev-adoption

SEC smackdown and SuperTruck news overwhelm convention dispatches  

The annual Work Truck Week and American Trucking Associations Maintenance & Technology Council pile on stakeholder-specific dispatches each March. But this week bigger stories originated outside the convention halls in Indianapolis and New Orleans.

The Securities and Exchange Commission in Washington is as good a starting point as any.

Lordstown Motors gets an SEC comeuppance

Nearly three years after Hindenberg Research set its sights on Lordstown Motors Corp., accusing the former special purpose...

https://www.freightwaves.com/news/sec-smackdown-and-supertruck-news-overwhelm-convention-dispatches

Ree Automotive: Business life during wartime

Startup Ree Automotive builds its drive-by-wire electric powertrains in the United Kingdom. Its future customer base is mostly in the U.S. But its headquarters is in Tel Aviv, where the Hamas-Israel war takes an emotional toll on employees and their families called to fight.

Israel-based businesses count on some portion of their workforces serving in defense of the country surrounded by enemies sworn to destroy it.

When war comes calling, as it did during the Oct. 7 surprise bombing of Israel by...

https://www.freightwaves.com/news/ree-automotive-business-life-during-wartime

Whatever became of those splashy electrification startups?

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As third-quarter earnings roll in, it is a good time to check the state of electrification startups....

https://www.freightwaves.com/news/whatever-became-of-those-splashy-electrification-startups

Lordstown Motors founder buys company assets out of bankruptcy

The soap opera that is Lordstown Motors is taking yet another unusual turn. The company founder and former CEO is paying $10 million to buy the electric pickup maker’s assets out of bankruptcy.

Lordstown’s “selling entities” said in a Securities and Exchange Commission filing Friday that Steve Burns made the only qualified bid for the assets. Burns founded the company in 2019 and brought it public through a merger with a special purpose acquisition company in 2020.

Burns and former Chief...

https://www.freightwaves.com/news/lordstown-motors-founder-buys-company-assets-out-of-bankruptcy

Who wants a piece or two of Proterra?

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Those surprised by Proterra Inc.’s Chapter 11 bankruptcy filing earlier this month probably should...

https://www.freightwaves.com/news/who-wants-a-piece-or-two-of-proterra

High-flying TruckWings looks at what’s next

TruckWings, the aerodynamic tractor-trailer gap-closing hardware, has surpassed 500 million miles of real-world use. TruckLabs founder Daniel Burrows figures someone will buy his 8-year-old company — someday.

The aerodynamic flight of TruckWings

Trucking technology claims tied to the number of miles driven is a common proof point of effectiveness. When that number is 500 million miles, it’s hard to miss. TruckLabs, the inventor of TruckWings gap-closing hardware for tractor-trailers, has...

https://www.freightwaves.com/news/high-flying-truckwings-looks-at-whats-next

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