SPACs

Can Karno technology generate a buyer for Hyliion?

Unwinding the powertrain business at Hyliion Holdings was uncomfortable, especially for 175 employees who lost their jobs in November. But the leaned-out startup is making some progress in its pivot to energy distribution through a fuel-agnostic power generator.

Whether the plan is sufficient to generate revenue and perhaps attract a buyer for the once high-flying special purpose acquisition company are the big unknowns.

The Karno generator, which Hyliion purchased from GE in August 2022 for its...

https://www.freightwaves.com/news/can-karno-technology-generate-a-buyer-for-hyliion

Nikola founder sentenced to 4 years on fraud convictions

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Nikola Corp. founder Trevor Milton was sentenced to four years in federal prison and fined $1...

https://www.freightwaves.com/news/nikola-founder-sentenced-to-4-years-on-fraud-convictions

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

Hyzon Motors agrees to $25M SEC fine to settle fraud case

Hyzon Motors agreed to pay a $25 million Securities and Exchange Commission fine to settle a fraud case over inflated claims about its fuel cell truck business.

Two former executives, including the founding CEO, also agreed to repay compensation received from the company. Two executives agreed to personally pay fines to the securities agency.

According to the SEC’s complaint, Hyzon:

  • Misrepresented the status of its business dealings with potential customers and suppliers to suggest significant...

https://www.freightwaves.com/news/hyzon-motors-agrees-to-25m-sec-fine-to-settle-fraud-case

Cash-poor transportation startups gambling for fresh capital

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As transportation and electrification startups struggle to raise capital, they are increasingly...

https://www.freightwaves.com/news/cash-poor-transportation-startups-gambling-for-fresh-capital

Startups struggling to make financial ends meet

One is a startup. The other is better described as an early-stage growth company. Choosing lidar maker Ouster Inc. and bus, battery and electric infrastructure provider Proterra Inc. for Securities and Exchange Commission filings scrutiny may be selective. But they represent the ongoing financial difficulties affecting companies trying to advance transportation technology.

Some have already left the stage: XL Fleet was purchased by the Shyft Group. Electric Last Mile Solutions went bankrupt amid...

https://www.freightwaves.com/news/startups-struggling-to-make-financial-ends-meet

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