BorgWarner Invests $10M In Enexor BioEnergy

by Shivani Kumaresan, Benzinga Staff Writer
August 23, 2021 2:31 PM | 1 min read |
Loading...
Loading...
  • Sustainable mobility solutions provider BorgWarner Inc BWA has invested $10 million in Enexor BioEnergy, LLC, a renewable energy and carbon conversion solutions provider.
  • Through the investment, BorgWarner has secured a minority stake in the company.
  • Enexor's patented and modular Bio-CHP system uses locally sourced organics or plastic waste to generate clean onsite energy.
  • As a major A Series investor, BorgWarner's investment will help the startup steadfastly commercialize its renewable energy and carbon conversion solutions.
  • The investment is a part of BorgWarner's commitment to achieving carbon neutrality by 2035.
  • The company held $1.6 billion in cash and equivalents as of June 30, 2021.
  • Price Action: BWA shares are trading higher by 0.46% at $42.7 on the last check Monday.
Market News and Data brought to you by Benzinga APIs

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Comments
Posted In: NewsBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!