Latest news with #736
Time of India
7 days ago
- Automotive
- Time of India
Explained: Why govt is defending E20 petrol — and what the numbers show
New Delhi: India's 20per cent ethanol-blended petrol (E20) has saved more than ₹1.44 lakh crore in foreign exchange, cut carbon dioxide emissions equal to planting 30 crore trees, and paid farmers tens of thousands of crores in the past year alone, according to the petroleum ministry's latest statement. On August 4, the ministry issued a detailed response to concerns over E20's impact on mileage, vehicle performance, and costs, saying fears were misplaced and backed its case with data and global comparisons. The savings and the scale Since Ethanol Supply Year 2014-15, public sector oil marketing companies have blended ethanol into petrol, replacing about 245 lakh metric tonnes of crude oil. The ministry says this has saved ₹1,44,087 crore in foreign exchange and reduced CO₂ emissions by 736 lakh metric tonnes — equivalent to planting 30 crore trees. For 2025 alone, with 20per cent blending, payments to farmers are expected to be ₹40,000 crore, and forex savings around ₹43,000 crore. Cleaner fuel, more farm income A NITI Aayog study cited by the ministry shows ethanol from sugarcane emits 65per cent less greenhouse gases than petrol, while maize-based ethanol emits 50per cent programme, the ministry says, has also cleared sugarcane arrears, boosted maize cultivation, and channelled crude import money to farmers — 'Urjadaatas' as well as 'Annadatas'. The mileage question Concerns about E20's effect on fuel efficiency were flagged in 2020 and studied by an inter-ministerial panel of NITI Aayog, with research support from IOCL, ARAI and ministry says E20 delivers about 30per cent lower carbon emissions than E10, better acceleration in E20-tuned vehicles, and a higher octane number (~108.5 versus petrol's 84.4), which is suited for high-compression engines. On claims of 'drastic' mileage loss, it points to other factors — driving habits, maintenance, tyre pressure and AC use. For some manufacturers, E20 compatibility dates back to 2009, and efficiency drops in E10 vehicles have been marginal. Lessons from Brazil and older vehicles Brazil runs on E27 fuel with no reported issues, including in cars from global automakers selling in India. E20 meets Indian and global safety and performance standards, the ministry certain older vehicles, some rubber parts or gaskets may wear faster with E20, but these can be replaced during routine servicing — typically once in the vehicle's lifetime. Why E20 isn't cheaper now When NITI Aayog prepared its report in 2020-21, ethanol cost less than petrol. But procurement prices have since risen — the current average is ₹71.32 per litre, higher than refined petrol. Despite this, blending has continued because of its role in energy security, farm incomes and emissions cuts. Insurance and the road ahead The ministry called 'totally baseless' the claim that E20 voids vehicle insurance, saying a social media post was misinterpreted. Insurance coverage, it stressed, is unaffected by E20 use. The current roadmap keeps E20 in place till October 31, 2026. Moving beyond will require consultations with automakers, ethanol producers, oil companies and researchers, and a formal decision by the government.>
TimesLIVE
08-08-2025
- Automotive
- TimesLIVE
US startup plugs into Northvolt to spark EV battery revival
Silicon Valley startup Lyten said on Thursday it had agreed to buy bankrupt Northvolt's remaining assets in Sweden and Germany, potentially reviving Europe's hopes of building a domestic electric vehicle battery industry to reduce reliance on China. Founded in 2015, Lyten started out in a shipping container in California, but has gained backing from Chrysler-parent Stellantis and US delivery giant FedEx. It develops lithium-sulphur battery cells, which it hopes will compete with conventional lithium-ion technology. It announced plans in 2024 to build the world's first gigafactory for lithium-sulphur batteries in Reno, Nevada, with an investment of more than $1bn (R17,736,480,000). Over the past year, Lyten has acquired two of Northvolt's former businesses: a US R&D hub and Northvolt's energy storage systems factory, Europe's largest. Sweden's Northvolt collapsed in March after being in a US chapter 11 bankruptcy process since 2024. The company struggled to scale output at its flagship plant in northern Sweden, despite support from a major customer, truckmaker Scania. Once considered a pioneer in European battery cell production, Northvolt had a $50bn (R886,824,045,000) order book with automakers including BMW, Volkswagen, Volvo Cars and Audi. That was wiped out after the bankruptcy. It raised more than $10bn (R177,364,800,000) in equity, debt and public funding since its 2016 launch, and had more than 6,000 workers at one point before most were let go. Its largest shareholders included Volkswagen with a 21% stake, and Goldman Sachs with 19%. Many in the EV industry hope electric autos in the future can run on lithium-sulphur, which can be up to two-thirds cheaper than lithium-ion battery cells. Lithium-sulphur batteries do not contain nickel, cobalt, or manganese, materials whose supply is dominated by China, making them cheaper and potentially more sustainable. Lyten has raised more than $625m (R11,085,300,000) from investors including Stellantis, FedEx and the US government. Other investors and partners include Honeywell, a supplier to planemaker Boeing and Airbus, venture capital firm Prime Movers Lab and Canadian miner Wallbridge, according to Lyten's website.
Yahoo
18-02-2025
- Business
- Yahoo
Group Eleven Announces Upsize of Private Placement to $2,500,000 from $1,500,000
Vancouver, British Columbia--(Newsfile Corp. - February 18, 2025) - Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce that further to its news release earlier today (February 18, 2025), it is increasing the size of its non-brokered private placement (the "Offering") from up to 7,894,736 units (the "Units") to up to 13,157,894 Units at a price of $0.19 per Unit for gross proceeds of $2,500,000. All currency in this news release is denominated in Canadian dollars. Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable into one Common Share at a price of $0.28 per Warrant for a period of two years from the date of issuance. The Company intends to use the proceeds for exploration activities in Ireland, including at the Company's 100%-owned Ballywire ("Ballywire") zinc-lead-silver discovery at the PG West Project and for general working capital purposes. The Offering is subject to approval from the TSX Venture Exchange and the securities will be subject to a four month and one day hold period pursuant to applicable securities laws. About Group Eleven Resources Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in the Republic of Ireland. Group Eleven announced the Ballywire discovery in September 2022. The Company's two largest shareholders are Glencore Canada Corp. (17.1% interest) and Michael Gentile (16.5%). Additional information about the Company is available at ON BEHALF OF THE BOARD OF DIRECTORSBart Jaworski, Executive Officer E: | T: +353-85-833-2463E: | T: 604-644-9514 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Information This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements," are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the completion of the Offering, the anticipated proceeds to be raised under the Offering; the intended use of proceeds raised under the Offering; Mr. Gentile's participation in the Offering; and the potential payment of finder's fees in connection with the Offering. These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain the required regulatory approvals for the Offering; market uncertainty; the inability of the Company to complete the Offering on the terms disclosed, or at all; the inability of the Company to raise the anticipated proceeds under the Offering; that Mr. Gentile's intended participation in the Offering will change; and changes in the Company's business plans impacting the intended use of proceeds raised under the Offering. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the Company will obtain the required regulatory approvals for the Offering; the Company will be able to complete the Offering on the terms disclosed; that Mr. Gentile will participate in the Offering in the amount currently expected; the Company will be able to raise the anticipated proceeds under the Offering; and the Company will use the proceeds of the Offering as currently anticipated. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit
