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I wish all my US and Canada readers a happy Labor Day weekend. The three-day weekend is a good time to take a road trip.
You may be asked to reduce your energy use this weekend. If you own an electric vehicle. California's power grid manager is asking EV owners to avoid charging at peak times as part of a broader effort to keep the state's grid up and running.
The alert made me think about California's recent decision to ban new gas cars by the year 2035 and what a flood of EV might do to the power grid.
Maybe you want to buy an electric vehicle. A guide to the new EV tax credit was written by me. These days it is more difficult. There is an article on used EV and the tax credit in this guide.
Here is a gift for my readers if you want to check out the event. You can get 15% off passes, including online and expo tickets, by using the code STATION.
Let's get going.
Email me at kirsten.korosec@techcrunch.com if you would like to discuss anything. You can send a message directly torstenkorosec.
Rebecca Bellan is on vacation and so this week's micromobbin' will be brief.
Bellan wrote an article about why the biggest market for micro mobility will be in the commercial space.
Other scootin' and bikin' news was reported.
A new shared scooter pilot that includes Lime, Spin and Veo is in Milwaukee.
Some people wrote counterarguments like this one in Outside entitled "The E-bike is Pure Joy" after the Atlantic's "The E-bike is a Monstrosity" column.
Vermont was the first state to offer an e bike rebate.
Bye!
The deals made this summer have slowed down. When the deal flow was more like a fire hose, it was striking.
The desire for capital has not waned despite the slower pace of deals. In the EV and mobility SPAC world, companies that used to have a lot of capital are trying to get it back on track.
In order to bring their delayed vehicles to market, a few EV SPACs are looking to raise money through stock offerings.
A number of options have been floated to the board by the CEO of Aurora. The company said last month that it will need more funds by early September of 2022. It is now for those keeping track.
What's the upshot? This activity is expected to continue through the end of the year. It will become desperate for some.
There were other deals that got my attention.
The environmental unit of Korean conglomerate SK Inc. invested $50 million in Ascend Elements, a U.S.-based company that recycles batteries.
Populus raised $11 million in a Series A round to scale its existing product and curb management software. Robert Downey Jr.'s FootPrint Coalition Venture participated in the round.
The Series A round raised an additional $7 million from Cleveland Avenue. The raise is now $30 million
Are you interested in reading more? A Little Bird, a section in which I share verified insider news, is included in the station's weekly email newsletter. Do you want to sign up? It's free.
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