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Fifty electric buses for Sydney in 2021

More than 50 new electric buses will be rolled out across Sydney over the next year, as the government transitions the state’s fleet to zero emissions technology.

Following an 18 month trial of the buses in Sydney’s inner west, electron bch the first new permanent electric buses are expected to hit the road by the end of March.

Transport Minister Andrew Constance hopes all 8000 buses in the state’s fleet will be replaced by electric versions within a decade, bitcoincash electron wallet in an effort to tackle climate change.

“I am excited to see us one step closer to our vision of creating a greener, cleaner and healthier future for the people of NSW, with more people now able to enjoy our electric bus fleet right across Sydney,” he said on Wednesday.

The buses have been ordered from a range of manufacturers and will be rolled out by several operators, including the Interline, Transdev and Transit Systems.

“There are a lot more zero emission buses to come and we’re delighted that local manufacturers like Bustech and Custom Buses are getting into the game,” Transport for electron bch wallet NSW’s Elizabeth Mildwater said.

“Once they and other manufacturers are ready, our operators will have more choices to buy locally.”

Tohoku Electric gets nod to restart reactor damaged in 2011 disaster

By Aaron Sheldrick and Yuka Obayashi

TOKYO, electron bch Nov 11 (Reuters) – Japan’s Tohoku Electric Power said on Wednesday it had received the green light from a local governor to restart one of its nuclear reactors, nearly a decade after it was damaged in the earthquake and tsunami that caused the Fukushima disaster.

Yoshihiro Murai, the governor electron bch of Miyagi Prefecture, where Tohoku Electric’s Onagawa nuclear station is located, signed off on the restart of reactor bitcoincash electron wallet No.
2 on Wednesday, a spokesman told Reuters by phone.

If restarted, Onagawa No. 2 would be Tohoku Electric’s first nuclear unit brought online since the 2011 disaster, and the first reactor restarted on the northeast Pacific coast of Japan since all reactors were shut down in the wake of the catastrophe.

Tohoku received regulatory approval to restart the reactor in February.

The company has not set a date for rebooting the unit as other processes need signoff from regulators and Tohoku Electric is still working on safety measures that are due to be finished in the year starting March 2022, the spokesman said.

It expects to spend 340 billion yen ($3.1 billion) on safety upgrades at the Onagawa plant.

Onagawa was the closest among Japan’s nuclear stations to the epicentre of the magnitude-9 quake in March 2011, which triggered a tsunami that killed nearly 20,000 people as well as causing the worst atomic disaster since Chernobyl in 1986.

The station was swamped by the tsunami, but survived with its cooling system intact, saving its reactors from the threat of meltdowns similar to those that occurred at Tokyo Electric Power’s Fukushima Daiichi station to the south.

It operates a boiling water reactor with the same basic design as those that melted down in the Fukushima crisis.

The Fukushima disaster led to the eventual shutdown of the country’s then 54 operational reactors, which once provided nearly a third of Japan’s electricity.

All had to be relicensed under new standards after the disaster highlighted operational and regulatory failings.

Only one is operating at present.

For a graphic on the status of Japan’s reactors, click on: website

($1 = 108.6400 yen)

(Reporting by Aaron Sheldrick and Yuka Obayashi; Editing by Kenneth Maxwell, Jan Harvey and Edmund Blair)

Electric hypercar maker Rimac says SPAC funding hype could damage…

FRANKFURT, Dec 3 (Reuters) – A surge in the use of special purpose acquisition companies (SPAC) for raising money for electric vehicle start-ups could harm the long-term prospects of the industry, Mate Rimac, founder of electric hypercar maker Rimac, said on Thursday.

Managers of SPAC companies are not held to the same level of liability about potential growth prospects as managers who raise cash via an initial public offering (IPO) on equity markets, spurring concerns about an investor bubble.

“You can get so much money now for companies that do not have a product. Personally I am scared a little bit,” Rimac told the Financial Times Future of the Car summit on Thursday.

“When we go public, I want to show the numbers, to go public on reality, and not on hype,” Rimac said.

“I hope that these SPACs will be successful. A lot of them won’t. I hope it won’t hurt the industry too much.

SPACs are small companies with an established track record of filings at the United States Securities and Exchange Commission (SEC) which are then used to buy up promising companies in high-growth sectors.

Wall Street has used SPACs to sidestep the IPO process, with their shorter preparation time and fewer legal hurdles making it easier to tap the investor optimism towards electric vehicles that helped Tesla reach a $554 billion valuation.

“We were profitable last year, and we want to be profitable this year as well,” Rimac said, adding that he built up his company, which was founded in Croatia in 2009 and now employs 900 people, by focussing on profitability rather than growth.

“For a start-up, bch electron wallet we have built up steam the hard way,” he told the FT’s web based conference, adding that sometimes he feels like he is missing out by not pursuing the SPAC path.

Rimac had a hard time raising money in 2011 after electric car maker Fisker went bankrupt and with Tesla yet to establish itself as a high growth company.

Rimac was thus forced to raise money by taking on development contracts for other carmakers. Today Porsche, Kia and Hyundai are shareholders and Rimac makes electric powertrains for supercars built by Aston Martin, Koenigsegg and others.

“We started with hypercars and we are now working with more mainstream vehicles,” Rimac said. “Want to be the leader in high performance electric vehicle components.

Want to be the intel inside.”

Rimac declined to comment on speculation that he would buy Bugatti, but added cryptically “maybe soon”. (Reporting by Edward Taylor; Editing by Kirsten Donovan)

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