South Korean photovoltaic cells maker Qcells is investing $2.5 billion to construct a solar power manufacturing plant in Bartow County, Georgia, US, to quadruple the company’s solar module production capacity. Qcells expects to scale its solar module production capacity in the US from 1.7GW in 2022 to 8.4GW by 2024. The solar power manufacturing project […]
Indian fintech platform PhonePe has secured an additional $100 million in funding at a $12 billion valuation, as part of the company’s target to raise up to $1 billion in capital. The latest funding, which follows the recent $350 million primary investment from General Atlantic, takes the total funding to $450 million. The new investment […]
Tata Sons-owned Air India will acquire both widebody and single-aisle aircraft to strengthen its domestic and international operations, following agreements worth $80 billion with French aerospace firm Airbus and American aircraft manufacturer Boeing. The acquisition of 250 Airbus aircraft and 220 Boeing Jets is anticipated to help the Indian airline advance its fleet strategy to […]
Ford Motor Company will construct the BlueOval Battery Park Michigan, a new $3.5 billion lithium iron phosphate (LFP) battery facility in Marshall, Michigan to become the first automaker to manufacture both nickel cobalt manganese (NCM) and LFP batteries in the US. The country’s first automaker-backed LFP battery facility is anticipated to diversify Ford Motor’s US […]
B2Gold will acquire Sabina Gold & Silver in a transaction that values the total equity value of the latter at approximately CAD 1.1 billion ($823.66 million) to increase its operational and geographic diversification. Post-closing, current B2Gold shareholders and former Sabina Gold & Silver’s shareholders will hold around 83% and 17%, respectively, in the enlarged mining […]
Accenture has acquired Morphus, a privately held Brazil-based cybersecurity company in an effort to expand its cybersecurity footprint in Latin America. The financial terms of the transaction were not disclosed by the professional services company. With the acquisition, Accenture anticipates to add new offerings to the company’s portfolio, expanding its presence in growth markets in […]
Insurance technology company Roadzen will merge with Vahanna Tech Edge Acquisition I, a special purpose acquisition company (SPAC), to become a publicly traded entity. Post-closing, the combined entity will retain its name Roadzen and will trade on Nasdaq. The deal values Roadzen at a pre-money equity value of around $683 million and is anticipated to […]
Ineos Olefins Belgium has secured €3.5 billion investment for its Project ONE, which includes the construction and operation of a new green cracker in Belgium. The new cracker, with a carbon capture facility and future electric furnaces, will produce ethylene and is run on low carbon hydrogen. Situated in Antwerp, the facility will have the […]
India-based Ujjivan Small Finance Bank has unveiled a new app called Hello Ujjivan to provide banking access to individuals who have limited reading and writing skills. Hello Ujjivan is said to be the first mobile banking application in India with voice, visual, vernacular-enabled features. With the app, the Ujjivan Small Finance Bank anticipates to inculcate […]
Biopharma company GSK has secured the full approval of the US Food and Drug Administration (FDA) for its Jemperli (dostarlimab-gxly) drug for recurrent or advanced mismatch repair-deficient endometrial cancer. Jemperli is indicated for the treatment of adult patients with mismatch repair-deficient (dMMR) recurrent or advanced endometrial cancer that has advanced or after a prior platinum-containing […]