Category: future technology

Faraday Future Completes Bridge Financing to Push Forward Production of Its All-electric FF 91 Luxury Vehicle

Amended Bridge Financing Includes up to $45 Million in New Senior Secured Financing
Birch Lake Fund Management LP, Which Led Senior Bridge Financing Facility in 2019, Returns to Support Faraday Future

Faraday Future (FF), a California-based global shared intelligent mobility ecosystem company, today announced that it has completed the expansion and extension of the senior bridge financing facility put in place in 2019 to support the completion and launch of its flagship FF 91 EV and continue development of the mass-market FF 81. The amended bridge facility includes new senior secured financing of up to $45 million, which matures in October 2021.

As part of the expanded and extended financing agreement, Birch Lake, a Chicago-based merchant bank, has returned to support FF as the majority purchaser of the new senior secured financing. The principals of Birch Lake and co-investor, ATW Partners, a New York-based private equity firm, bring extensive experience with tailored investment structure solutions.

“Birch Lake is one of FF’s strongest advocates, mentors and financial partners,” said Carsten Breitfeld, Global CEO of Faraday Future. “We are excited that Birch Lake will be joined by ATW Partners to support our company as we move forward to complete our funding solutions and continue our plans to launch our FF 91 production.”

“Birch Lake is excited to renew and expand our partnership with FF alongside ATW Partners,” said Birch Lake Chief Executive Officer Jack Butler. “FF’s technology, product strategy and unwavering commitment to its product suite launch — including its commitment with getting the FF 91 into consumers’ hands next year — are impressive.”

According to FF’s production launch plan, FF 91 will kick off production approximately nine months following the closing of a successful round of funding, which is expected in the near term. The newly announced FF 81 EV and

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Emerging iDER Platforms Remain Key To Our Energy Future

By: Peter Asmus

Solar Energy, a clean technology to reduce CO2 emissions and the best place for Solar Energy is the Atacama Desert at north Chile. Silicon cells Poly modules located in hundred of rows in the desert — Solar Energy Generation on the desert at high altitude the best conditions for solar generation with … [+] photovoltaic modules in order to transform the energy coming from the sun onto electricity

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Due to climate change, organizations and governments are navigating the energy transformation that is already underway. Technology advances and evolving market rules such as the recent US Federal Energy Regulatory Commission Order No. 2222 require new approaches to integrating distributed energy resources (DER) with the grid. The key to value creation lies in the ways these DER assets are integrated into onsite energy networks to bolster resiliency and foster sustainability. It also requires innovative business models that recognize previously hidden value for end users and stakeholders across the broader energy system.

A fundamental rethink of strategy and planning as well as organization and system operations that embrace DER networks will be needed for a successful transformation. The result should be an energy system better attuned to evolving demand and customer needs and more compatible with a rapidly changing policy and regulatory environment.

That’s the big picture and the fundamental premises underlying Guidehouse Insights’ overarching concept of the Energy Cloud. But what do these generalizations mean when getting down to the details as rapid change sweeps through our energy, mobility, and urban infrastructure? The value of DER assets can only be realized fully if they are integrated into markets, customer sites, and the grid in a way that creates shared value. Most use cases for DER support electrification goals and focus on behind-the-meter applications such as onsite power generation, but they do not support the larger grid network or incumbent utility suppliers.

Taking Steps to Build a More Sustainable and Shared Energy Future

A new Guidehouse Insights white paper, Integrated DER: Orchestrating the Grid’s Last

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Google’s vision for the future of analytics

Meet Google Analytics 4: Google’s vision for the future of analytics

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Tech Tenants Envision a Largely Remote Future