Connect with us

Published

on

Video footage meant for investors has leaked, showing Aptera Motors co-founders and co-CEOs Steve Fambro and Chris Anthony discussing many topics about the solar EV startup’s future, including a potential IPO.

Usually, when we share progress updates from notable solar EV developer Aptera Motors, they come directly from the horse’s mouth. The born-again startup is known for keeping an open line of communication with its growing fanbase of investors, Accelerator program reservation holders, and EV enthusiasts who want to see a company bring solar-powered vehicles to mass production.

The latest public update came in late February as Aptera’s co-CEOs teased its flagship vehicle’s upcoming app and battery tech while giving the viewers a glimpse of the three-wheeled EV’s Body in Carbon (BinC), which ended up on display at JEC World 2024 in Paris earlier this month.

As we’ve followed Aptera through its progress in reaching scaled production slotted to begin later this year, its founders have spoken quite candidly about the funding still required to achieve the milestone.

Even after achieving state grants and successfully raising $34 million in a crowdfunding Accelerator Program, Aptera still needs more liquidity to get its solar EV over the finish line and into the driveways of early adopters and beyond.

One solution to this lingering issue has always been the possibility of Aptera filing for an Initial Public Offering (IPO). Per video footage that recently surfaced, an IPO is still very much on the to-do list of Aptera’s co-CEOs, and these men have some big plans if and when such a milestone comes to fruition.

Aptera IPO
Aptera co-CEOs Steve Fambro and Chris Anthony / Source: Aptera Motors

Aptera founders target IPO around start of SEV production

YouTube channel Free Power posted a video that shows Aptera co-CEOs discussing the possibility of an IPO and what that level of public funding could mean for the start of solar EV production and beyond.

We could not find the source for the video footage but were told by representatives from Aptera that Free Power leaked footage from an old exclusive investor-only webinar. We are unsure how dated this webinar footage is, but there are some interesting tidbits here that anyone rooting for Aptera’s success would be interested in hearing. Per Aptera co-CEO Chris Anthony:

We would love to tie an IPO to our production start. Obviously, once we start delivering vehicles, we think we’ll get a lot more notoriety, we’ll get a lot more pre-orders. It seems like a natural fit that if we can tie an IPO to our production start, that kind of maximizes the benefit of everything. It gives us growth capital to launch into other variants of the three-wheeler and possibly four-wheel vehicles, part of a whole future plan to get us to 150,000 units per year.

Fellow Aptera CEO Steve Fambro followed up with some wise words, stating that you’re constantly raising money in any business like this (startups especially). Aptera has done an excellent job of staying cost-conscious up to this point, but as mentioned, it has never shied away from the fact it will need more capital to realize its solar-powered dream.

An Aptera IPO feels like a natural next step. Anthony again spoke:

We aspire to deliver one million Aptera by 2033. So, sow do we do that? It’ll be a capital-intensive plan; it will require multiple factories, and an IPO can help us rally the capital to do that.

The closer Aptera gets to genuine scaled solar EV production, the more the public and other investors will notice, thus boosting its chances of getting that IPO and truly scaling to mass production.

Aptera is currently developing production-intent builds that will be used for validation and crash testing to ensure safety and has promised to share more details of its pending partner supply agreements once they are officially signed.

If you want to join the solar pack, reserve your Aptera EV today for $70 down.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Small runways, big tech: hybrid-electric aircraft shows off some uSTOL magic

Published

on

By

Small runways, big tech: hybrid-electric aircraft shows off some uSTOL magic

Aviation startup Electra made history last month when its EL2 became the first hybrid-electric Ultra Short Take-off and Landing (uSTOL) aircraft to successfully complete helicopter-like take-offs and landings at the Watertown International Airport.

Founded to provide affordable air travel without airports, emissions, or noise, Electra’s stated goal was to build an aircraft that could deliver on the promises of eVTOL aircraft at a significantly reduced cost compared to its more drone-like competitors. In that context, the demonstration at Watertown isn’t a publicity stunt, but part of concerted effort to validate Electra’s uSTOL performance under real-world conditions at a commercial airport — exactly the kind of place that regional operators, cargo carriers, and emergency responders actually fly in and out of.

Hitting those marks now will help Electra clear a path for FAA certification and prove that the company can deliver on the $9 billion worth of promises its made (so far).

“Electra is grateful to the team at Watertown International Airport for enabling this demonstration of the EL2’s Ultra Short capabilities in an off-runway capacity,” explains Tom Carto, director of market development at Electra. “Our Ultra Short aircraft will offer the potential to increase the use of general aviation airports and expand the capacity of larger hubs by enabling takeoffs and landings on ramps and taxiways instead of runways, feeding in regional connections without adding to runway congestion. These transformative and practical capabilities will open the door to Direct Aviation and point-to-point connections in a way that will make it easier for people to get from the where they are to where they want to go.”

Advertisement – scroll for more content

The EL2’s innovative “blown lift” design features eight electric motors on the plane’s wings, enabling take-off and landing in as little as 150 feet.

Electra says the final version of its aircraft will be able operate from airfields as small as 300 x 100 ft (90 x 30 m), or about one-tenth the length of a standard airport runway. That means that, even if these eSTOL aircraft don’t open up quite as many spaces for air travel as eVTOLs, do, they’ll still be extremely flexible – and more than capable of operating from the roofs of many existing buildings and parking structures.

Obviously


And, of course, the Air Force wants one.

NOTEin response to some of the comments, I want to point out that the Electra is capable of sustained, electric-only powered flight and uses the genset for remote operations/extended range. I should have made that clearer. This is arguably more EREV than EV.

SOURCES | IMAGESElectra; via Oswego County Business.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Trump admin OKs $1B loan for Three Mile Island nuclear reboot

Published

on

By

Trump admin OKs B loan for Three Mile Island nuclear reboot

The US Department of Energy’s Loan Programs Office (LPO) closed a $1 billion loan to restart Three Mile Island Unit 1, a nuclear reactor at Three Mile Island in Londonderry Township, Pennsylvania.

The money is being loaned to Constellation Energy Generation, which is renaming the 835 megawatt (MW) Three Mile Island Unit 1 the Crane Clean Energy Center. Constellation said in September 2024 that it would restart the reactor under a power purchase agreement with Microsoft, which needs more clean power to feed its growing data-center demand.

The project is estimated to cost around $1.6 billion, and the DOE says the project will create around 600 jobs. The reactor is expected to start generating power again in 2027.

Three Mile Island Unit 1 (in the foreground in the photo above) went offline in 2019 because it could no longer compete with cheaper natural gas, but it wasn’t decommissioned. It’s capable of powering the equivalent of approximately 800,000 homes. It’s on the same site as the Unit 2 reactor (in the background in the photo above) that went into partial nuclear meltdown in 1979, and is known as the worst commercial nuclear accident in US history.

Advertisement – scroll for more content

When asked about the loan’s timing, Greg Beard, senior adviser to the Loan Programs Office, told reporters on a call that it would “lower the cost of capital and make power cheaper for those PJM [Pennsylvania-New Jersey-Maryland] ratepayers.” Data centers are driving up electricity costs for consumers.

Read more: DOE props up dying coal with $625M days after Wright mocks clean energy subsidies 


If you’re looking to replace your old HVAC equipment, it’s always a good idea to get quotes from a few installers. To make sure you’re finding a trusted, reliable HVAC installer near you that offers competitive pricing on heat pumps, check out EnergySage. EnergySage is a free service that makes it easy for you to get a heat pump. They have pre-vetted heat pump installers competing for your business, ensuring you get high quality solutions. Plus, it’s free to use!

Your personalized heat pump quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. – *ad

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Ford opens orders for the electric Bronco in China, starting at under $33,000

Published

on

By

Ford opens orders for the electric Bronco in China, starting at under ,000

An affordable Bronco EV? Not for those in the US. Ford opened orders for the electric Bronco in China, starting at under $33,000.

Ford Bronco electric pre-orders open at under $33,000

Ford announced the All-Wheel Drive electric SUV is officially open for pre-sale on Tuesday, starting at RMB 229,800 ($32,300).

The electric Bronco is available in pure electric (EV) and extended range electric vehicle (EREV) options. It’s offered in three variants, priced from RMB 229,800 ($32,300) to RMB 272,800 ($38,400).

All models are All Wheel Drive, while the pure electric version costs an extra 10,000 yuan ($1,400). Ford is offering pre-sale buyers some pretty sweet benefits, including a camping experience package (with an added roof tent), a Mountain Kitchen Multi-Function Tailgate gift, an overnight stay package (for your vehicle), and more.

Advertisement – scroll for more content

The electric Ford Bronco is about the same size as the standard 4-door version sold in the US at 5,025 mm long, 1,960 mm wide, and 1,815 mm tall.

Ford-Bronco-electric-orders
The electric Ford Bronco (Source: Ford)

Although it may look the same, the EV version draws power from a 105.4 kWh LFP battery pack from BYD’s FinFreams, providing up to 650 km (404 miles) CLTC driving range.

It’s equipped with two electric motors, one in the front and the other in the rear, producing a combined 445 horsepower (332 kW).

Ford-Bronco-electric-orders
The electric Ford Bronco (Source: Ford)

The EREV version combines a 43.7 kWh battery with a 1.5T engine, delivering a pure-electric range of 220 km (137 miles) and a combined CLTC driving range of 1,220 km (758 miles).

Some of the higher trims feature Ford’s Fuyu ADAS system, developed exclusively for buyers in China with a roof-mounted LiDAR and over 30 sensors and cameras. It even features a cool “off-road logbook” that shows drivers over 20 popular routes across China.

The interior is custom-tailored for Chinese buyers with a 15.6″ central infotainment and a smaller driver display screen. It also offers a massive 70″ AR head-up display (HUD).

Unlike the Ford vehicles we’re accustomed to seeing, the electric Bronco includes a 7.5L refrigerator in the center console.

The AWD electric SUV is coming at a critical time as Ford aims to revamp its business in China. Ford is working with local partners on new technologies, designs, and powertrain ideas for global markets.

Ford’s sales in China are down by over 14% through October this year, but new electrified vehicles, including the Bronco, are expected to help turn things around. Ford’s lineup in China mainly consists of gas-powered vehicles, which have quickly fallen out of favor with buyers shifting to more advanced, more efficient, and often lower-priced domestic EVs.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending