[ad_1]
Capital Conversation set for CO.LAB on Nov. 9
LaunchTN and Pinnacle Financial Partners are partnering on a new series of meetups, called Capital Conversations, which will be hosted in Chattanooga and other major Tennessee cities to provide financial help for business startups.
The networking events are opportunities for entrepreneurs, startup companies, investors and others in the state’s entrepreneurial community to connect and learn more about state initiatives to aid startup companies.
Capital Conversations will feature LaunchTN’s Capital team, including Chief Investment Officer Monique Villa, as well as financial sector experts from Pinnacle Financial Partners. The Launch Tennessee team will be on hand to discuss InvestTN, a new $70-million fund for investments in startups and venture funds throughout the state. Pinnacle Financial Partners will offer advice on financial services and support specific to startups.
The Chattanooga event is scheduled at The Company Lab (CO.LAB) in Chattanooga on Nov. 9.
“When Pinnacle signed on as a visionary-level supporter for 2023, we immediately put our heads together to figure out how to create events that will offer insight and valuable information for startups,” LaunchTN Development Director Emily Masters said. “It’s exciting to see those brainstorm sessions come to fruition through the ‘Capital Conversations’ series. I sincerely hope the partnership is one that continues well into the future.”
Electric bus maker files for bankruptcy
Electric bus and truck maker Proterra said it is seeking Chapter 11 bankruptcy protection from a federal court in Delaware.
The Burlingame, California, company is a big supplier of buses to transit systems across the nation. A statement on Proterra’s website Monday said it intends to maintain normal operations and will file motions with the court to use existing capital to keep funding operations, including paying employees, vendors and suppliers.
President Joe Biden visited the company’s factory in South Carolina in 2021 to highlight U.S. electric vehicle makers.
The company said in the statement it’s taking action to separate its business units “to maximize their independent potential.” It sells heavy truck, van, bus and off-highway equipment equipment in the U.S., European and Asia-Pacific markets.
“While our best-in-class EV and battery technologies have set an industry standard, we have faced various market and macroeconomic headwinds that have impacted our ability to efficiently scale all of our opportunities simultaneously,” CEO Gareth Joyce said in the statement.
Proterra’s bankruptcy comes two decades after one of the first electric bus manufacturers, the Chattanooga-based Advanced Vehicle Systems, filed for bankruptcy and shut down in 2003.
Hyundai puts its name on Georgia Tech stadium
The home of Georgia Tech football has been renamed Bobby Dodd Stadium at Hyundai Field following a naming rights agreement between the school and the automaker.
The Georgia Board of Regents announced a deal Tuesday for Hyundai to pay Georgia Tech approximately $55 million over 20 years for naming rights to the field.
The stadium known as Grant Field when it opened in 1913 was renamed Bobby Dodd Stadium in 1988 in honor of the former Georgia Tech coach and athletic director. The school plans to maintain recognition of its history as Grant Field with a display at the stadium.
In announcing the agreement, Georgia Tech said the sponsorship elements will feature enhancements to boost the experience on game days for fans in and around the home of Georgia Tech football.
“Like Georgia Tech, Hyundai is a global brand that is synonymous with quality, innovation and a commitment to advancing technology to make a positive difference in the world,” Georgia Tech President Ángel Cabrera said in a statement. “The more we have gotten to know each other, the more obvious the alignment of our values has become.”
Hyundai, headquartered in Seoul, is spending $5.54 billion to build an electric vehicle and battery plant in Bryan County, Georgia. The facility is expected to create more than 8,100 jobs.
GM electric vehicles can also power homes
General Motors Co. said Tuesday it’s expanding to more models its technology that allows electric vehicle owners to use them to power their homes.
The automaker said its vehicle-to-home bidirectional charging technology will be available across all of its retail Ultium-based electric vehicles by model year 2026.
The first vehicles to have the technology will include the 2024 Chevrolet Silverado EV RST, followed by the 2024 GMC Sierra EV Denali Edition 1, 2024 Chevrolet Blazer EV, 2024 Chevrolet Equinox EV, 2024 Cadillac Lyriq and the upcoming Cadillac Escalade IQ.
Before this announcement, GM had only confirmed the 2024 Silverado EV RST, which is planned to launch later this year, would have bidirectional charging.
The bidirectional charging allows users to transfer energy from their vehicles to a properly equipped home. This tech would allow consumers to store and transfer energy, offsetting electricity needs during peak demand days, GM said.
[ad_2]
Source link