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Canoo Capsizes
Updates from Aegis Energy, Helm.ai, and more.
👋 Watts up? After 8 years of innovation within the electric vehicle industry, Canoo has filed for bankruptcy. Despite many collaborations over the years, including companies like NASA and Walmart, Canoo ultimately failed to secure further financial backing from investors. Still, there is some positive news today, as Aegis Energy are set to construct the UK’s first multi-energy recharging hubs, aiming to establish infrastructure to support low and zero-emission transport for commercial vehicles. Learn more on these stories, and others, in todays issue.
We hope you have a great day!
MARKETS
Company | Share Price | Change |
Maxeon Solar (MAXN) | 6.68 | +7.57% |
CATL (SHE: 300750) | 265.52 | +5.57% |
EVgo (EVGO) | 3.41 | -5.01% |
NVIDIA (NVDA) | 137.71 | +3.10% |
Tesla (TSLA) | 426.50 | +3.06% |
Toyota (TYO: 7203) | 2,870.00 | +2.94% |
Data provided by Google Finance*
ELECTRIC VEHICLES
Electric Vehicle Start-up Canoo Files for Bankruptcy

// Canoo
🚗 Canoo Inc. has filed for Chapter 7 bankruptcy in Delaware, signalling the end of its operations and the beginning of asset liquidation under a court-appointed trustee. The decision comes despite significant partnerships and notable achievements in the electric mobility sector.
Collaborations with NASA, the Department of Defense, the US Postal Service, and Walmart showcased Canoo's innovation.
The company ultimately failed to secure financial backing from the US Department of Energy’s Loan Program Office.
Attempts to raise foreign capital were also unsuccessful, leaving no sustainable options.
CEO, Tony Aquila, expressed gratitude to employees and partners, reflecting on the company's impactful journey.
Canoo will cease operations immediately as its assets are liquidated, unfortunately concluding its ambitious journey in advanced mobility and clean energy innovation.
INFRASTRUCTURE
Aegis Energy to Build the UK’s First Multi-Energy Refuelling Hubs

// Aegis Energy
🔋 Aegis Energy has secured £100 million from Quinbrook Infrastructure Partners to establish the UK’s first multi-energy recharging and refuelling hubs for commercial vehicles. These hubs aim to address infrastructure challenges hindering the transition to low and zero-emission transport.
Transport accounts for 29% of the UK’s greenhouse gas emissions, with commercial vehicles contributing 10%.
Aegis’ hubs will support electric, hydrogen, bio-CNG, and HVO refuelling, serving over 40 HGVs and 25 vans simultaneously.
Each site will include safe parking, driver amenities, and is projected to reduce annual carbon emissions by 14,300 tonnes.
The first of five initial hubs will open in 2026, with the network expanding to 30 locations by 2030.
This initiative positions Aegis Energy as a leader in advancing sustainable transport infrastructure, offering solutions to meet evolving industry needs.
CLEAN ENERGY
Convergent Secures a $584.5 Million Loan from the U.S. Department of Energy

// PR Newswire
☀️ Convergent Energy and Power has secured a $584.5 million U.S. Department of Energy loan to develop a solar photovoltaic system with battery storage and three stand-alone battery systems in Puerto Rico. These projects aim to enhance energy resilience, reduce costs, and support Puerto Rico’s clean energy transition.
A 100 MW solar PV system with 55 MW/55 MWh battery storage will be built in Coamo.
Stand-alone battery systems in Caguas, Peñuelas, and Ponce will supply power directly to the grid.
Energy costs on the island are expected to decrease, alongside reductions in carbon emissions.
The initiative will also create over 500 construction jobs.
This investment highlights Puerto Rico and Convergent’s commitment to sustainable energy solutions, while boosting local economies and advancing climate goals.
TECHNOLOGIES
Helm.ai Secures Investment from Honda

// Helm.ai
📱 Honda Motor Co. has participated in Helm.ai’s $30 million Series B funding round, strengthening their partnership to advance artificial intelligence and autonomous solutions. This collaboration began through Honda’s Xcelerator programme.
The investment aims to integrate Helm.ai’s advanced AI software with Honda’s technologies to develop safety-first autonomous systems.
Helm.ai’s scalable AI approach, known as Deep Teaching, offers unique value for autonomous driving and robotics applications.
CEO of Helm.ai, Vlad Voroninski, emphasised the collaboration’s potential to accelerate advancements in safety and automation.
This strategic partnership highlights Honda’s dedication to pioneering AI-driven technologies, positioning both companies at the forefront of intelligent mobility innovation.
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*As of 11:00am EST, on the same business day. Includes top movers.
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