Insolvency Guardian Media Centre
Sodium-ion battery startup Natron ceased operations this week, ending the company’s 12-year quest to commercialize its technology in the U.S.
The company had $25 million worth of orders lined up for its Michigan factory, but it couldn’t deliver them until it had UL certification, according to Raleigh’s The News and Observer, which reported on the business’s closure because Natron had been planning to bring jobs to the state of North Carolina with its new factory.
However, receiving the UL certification can be a lengthy process, often spanning several months. Natron investors balked at releasing more funds, leaving the startup facing a cash crunch.
Natron’s primary shareholder, Sherwood Partners, attempted to sell…
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Brazil’s Lula announces $2.2 billion debt relief package for farmers MSN
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Brazil’s Lula announces $2.2 billion debt relief package for farmers MSN
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A Quebec Superior Court judge has declared the North American branch of battery manufacturer Northvolt insolvent as the provincial government seeks to recover $260 million owed to it.
Justice Janet Michelin on Friday placed Northvolt Batteries North America under creditor protection following a request earlier in the week from the province.
Northvolt laid off its entire workforce on Thursday, a day after Economy Minister Christine Fréchette announced the government would provide no more funding for the company’s planned electric-vehicle battery plant on Montreal’s South Shore.
The court decision will allow the company to rehire about 15 employees to maintain the site where the factory was to be built.
The province lost a $270-million…
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Brazil’s Lula announces $2.2 billion debt relief package for farmers By Reuters Investing.com
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Quebec judge declares Northvolt insolvent as province recovers $200 million Squamish Chief
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SAO PAULO (Reuters) -Brazilian President Luiz Inacio Lula da Silva announced on Friday a 12 billion reais ($2.21 billion) debt renegotiation package aimed at supporting up to 100,000 agricultural producers, primarily small and medium-sized farmers affected by recent climate events.
WHY IT’S IMPORTANT
The measure comes as Brazil’s largest state-run bank, Banco do Brasil, faces record default levels in its agribusiness portfolio, threatening the stability of the country’s crucial agricultural sector.
BY THE NUMBERS
The executive order signed by Lula guarantees 12 billion reais in total relief funding to up to 100,000 producers eligible for support.
Banco do Brasil currently has 20,000 defaulting clients, its CEO…
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Brazil’s Lula Announces $2.2 Billion Debt Relief Package for Farmers U.S. News & World Report
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SAO PAULO (Reuters) -Brazilian President Luiz Inacio Lula da Silva announced on Friday a 12 billion reais ($2.21 billion) debt renegotiation package aimed at supporting up to 100,000 agricultural producers, primarily small and medium-sized farmers affected by recent climate events.
WHY IT’S IMPORTANT
The measure comes as Brazil’s largest state-run bank, Banco do Brasil, faces record default levels in its agribusiness portfolio, threatening the stability of the country’s crucial agricultural sector.
BY THE NUMBERS
The executive order signed by Lula guarantees 12 billion reais in total relief funding to up to 100,000 producers eligible for support.
Banco do Brasil currently has 20,000 defaulting clients, its CEO…
Read the original article here
SAO PAULO (Reuters) -Brazilian President Luiz Inacio Lula da Silva announced on Friday a 12 billion reais ($2.21 billion) debt renegotiation package aimed at supporting up to 100,000 agricultural producers, primarily small and medium-sized farmers affected by recent climate events.
WHY IT’S IMPORTANT
The measure comes as Brazil’s largest state-run bank, Banco do Brasil, faces record default levels in its agribusiness portfolio, threatening the stability of the country’s crucial agricultural sector.
BY THE NUMBERS
The executive order signed by Lula guarantees 12 billion reais in total relief funding to up to 100,000 producers eligible for support.
Banco do Brasil currently has 20,000 defaulting clients, its CEO…
Read the original article here
Brazil’s Lula announces $2.2 bln debt relief package for farmers Reuters
Read the original article here
SAO PAULO (Reuters) -Brazilian President Luiz Inacio Lula da Silva announced on Friday a 12 billion reais ($2.21 billion) debt renegotiation package aimed at supporting up to 100,000 agricultural producers, primarily small and medium-sized farmers affected by recent climate events.
WHY IT’S IMPORTANT
The measure comes as Brazil’s largest state-run bank, Banco do Brasil, faces record default levels in its agribusiness portfolio, threatening the stability of the country’s crucial agricultural sector.
BY THE NUMBERS
The executive order signed by Lula guarantees 12 billion reais in total relief funding to up to 100,000 producers eligible for support.
Banco do Brasil currently has 20,000…