Core Viewpoint - Elong Power Holding Limited has successfully closed a public offering of 2,400,000 Units at a price of US$3.16 per Unit, raising approximately US$7.6 million for general corporate purposes and working capital [1][4]. Group 1: Offering Details - Each Unit in the offering consists of one Class A ordinary share and one Common Warrant to purchase an additional Class A ordinary share [1]. - The Common Warrants are exercisable immediately at an exercise price of US$3.16 per share, with adjustments to 70% and 50% of the initial price on specified dates [2]. - The underwriter has a 45-day option to purchase up to 360,000 additional Class A ordinary shares and/or Common Warrants to cover over-allotments, with partial exercise already executed for 242,270 Common Warrants [3]. Group 2: Financial Proceeds and Use - The total gross proceeds from the offering amount to approximately US$7.6 million before deducting underwriting discounts and expenses [4]. - The proceeds will be utilized for general corporate purposes and working capital [4]. Group 3: Company Overview - Elong Power is focused on the research, development, manufacturing, sales, and service of high-power lithium-ion batteries for electric vehicles and energy storage systems [7]. - The company has a comprehensive product and technology system that includes battery cells, modules, and battery management systems, catering to high-power applications and energy storage needs [8].

Core Viewpoint - Aqua Metals and American Battery Factory announced a strategic collaboration to enhance the domestic battery materials supply chain through recycling and circular manufacturing [1][2]. Collaboration Details - The companies plan to evaluate co-locating a lithium-ion battery recycling facility next to ABF's battery cell manufacturing operations in Tucson, Arizona [2]. - This collaboration aims to recycle lithium-ion battery manufacturing scrap from ABF and return battery-grade lithium carbonate for reuse in U.S. battery production [2][7]. Industry Challenges - The partnership addresses the challenge of economically processing battery materials domestically instead of exporting scrap to overseas markets for processing [3]. - Aqua Metals previously signed a letter of intent with Westwin Elements to supply up to 1,000 metric tons of recycled nickel carbonate annually starting in 2027, valued at approximately $12 million based on current nickel prices [3][4]. Integration Benefits - By integrating recycling with battery manufacturing, the collaboration seeks to improve cost competitiveness, reduce logistics complexity, and enhance domestic supply chain resilience [5]. - Aqua Metals utilizes its proprietary AquaRefining technology, which is designed to operate efficiently within the U.S. regulatory environment while creating jobs and producing battery-grade materials [6]. Strategic Goals - The collaboration reflects the belief that domestic battery recycling must be economically viable, supporting U.S. manufacturing jobs and providing an alternative to exporting battery scrap [7]. - The MOU outlines plans for a commercial-scale recycling facility capable of processing up to 10,000 metric tons of lithium-ion battery materials annually, targeting 2028 for the start of operations [8].

Thematic Drone ETFs Flew High In January | ETF TrendsETF Trends is now VettaFi. Read More --Moving into February, advisors and investors can better understand which portfolio strategies and thematic exposures might be well-positioned this year.One investment theme that enjoyed a particularly prosperous January was the drone and unmanned aerial vehicle (UAV) industry. This can be observed through the performance of the [REX Drone ETF (DRNZ)]. As of January 30, 2026, the fund is up 14.92% year-to-date.The one ...

Core Viewpoint - The strategic collaboration between Aqua Metals and American Battery Factory aims to create a cost-competitive, domestic battery materials supply chain through recycling and circular manufacturing, addressing the challenges of processing battery materials in the U.S. rather than relying on overseas markets [1][3]. Group 1: Collaboration Details - Aqua Metals and American Battery Factory have signed a non-binding Memorandum of Understanding (MOU) to evaluate the co-location of a lithium-ion battery recycling facility next to ABF's planned manufacturing operations in Tucson, Arizona [2]. - The collaboration will allow Aqua Metals to recycle lithium-ion battery manufacturing scrap from ABF and return battery-grade lithium carbonate for reuse in U.S.-based battery production [2][5]. Group 2: Industry Challenges and Solutions - The partnership aims to tackle the economic challenge of processing battery materials domestically, reducing the need to export manufacturing scrap to overseas markets for processing [3]. - By integrating recycling with battery manufacturing, the companies seek to enhance cost competitiveness, simplify logistics, and bolster domestic supply chain resilience [3][6]. Group 3: Technology and Operations - Aqua Metals utilizes its proprietary AquaRefining™ technology, which replaces traditional high-temperature furnaces and chemical-intensive processes with an electricity-powered, closed-loop system, promoting efficiency and safety in manufacturing [4][10]. - The proposed recycling facility is expected to process up to 10,000 metric tons of lithium-ion battery materials annually, improving logistics efficiency and reducing transportation costs [6]. Group 4: Economic Incentives and Future Plans - The companies will explore how domestic manufacturing incentives, such as the 45X Advanced Manufacturing Production Tax Credit, could enhance the economic viability of U.S.-based battery materials production [7]. - Any definitive agreements will depend on financing, permitting, and regulatory approvals, with a target to commence commercial operations in 2028 [7]. Group 5: Company Backgrounds - Aqua Metals is focused on revolutionizing metals recycling with its AquaRefining™ technology, aiming to provide high-purity, low-carbon battery materials to meet the demand for sustainable energy storage [10]. - American Battery Factory is dedicated to establishing a domestic supply of lithium iron phosphate (LFP) battery cells, contributing to energy security and job creation in the U.S. [11].

Summary of Conference Call Notes Company and Industry - The company operates in the battery manufacturing industry, focusing on electric vehicle (EV) batteries and energy storage solutions. Key Points and Arguments - **2026 Battery Shipment Target**: The company aims for a total battery shipment of 150 GWh by 2026, which includes 100 GWh for electric vehicle batteries and 50 GWh for energy storage batteries. This growth is expected to be driven by the expansion of domestic and international passenger car customers, the electrification of commercial vehicles (with over 20% of electric vehicle battery shipments coming from commercial vehicles by Q3 2025), and increasing demand for energy storage solutions [1][2][3]. - **Accelerated Overseas Capacity Expansion**: The company plans to increase its effective production capacity to 150 GWh by 2025 and aims for 200 GWh by 2026. Construction of factories in Slovakia, Morocco, and the United States is progressing. The company anticipates that some upstream cost pressures can be passed on to customers, and there will be a reduction in export value-added tax refunds from 9% to 6% starting in April 2026, which may have a short-term impact on profit margins but is expected to be manageable in the long term [1][2][3]. Other Important but Possibly Overlooked Content - The company is strategically positioning itself to benefit from the growing demand in both the electric vehicle and energy storage markets, indicating a robust growth outlook for the coming years [1][2][3].

Core Viewpoint - Elong Power Holding Limited has announced a public offering of 2,400,000 Units at a price of US$3.16 per Unit, aiming to raise approximately US$7.6 million for various corporate purposes [1][3]. Group 1: Offering Details - The offering consists of Units that include one Class A ordinary share or a pre-funded warrant to purchase one Class A ordinary share, along with a common warrant to purchase one Class A ordinary share [1]. - Each common warrant will expire three years from issuance and is exercisable immediately at an exercise price of US$3.16 per share, with potential adjustments to the exercise price [2]. - The offering is expected to close on February 3, 2026, subject to customary closing conditions [3]. Group 2: Use of Proceeds - The proceeds from the offering will be allocated for general corporate purposes and working capital [3]. - Funds will also be used for expanding the sales network, including hiring sales personnel and developing regional sales channels [3]. - Additionally, the company plans to invest in production and capacity expansion, including new equipment and upgrades to manufacturing facilities [3]. Group 3: Underwriting and Legal Aspects - The underwriters have a 45-day option to purchase up to an additional 360,000 Class A ordinary shares and/or common warrants at the public offering price [4]. - Maxin Group LLC is the exclusive underwriter, while Ortoli Rosenstadt LLP and Pryor Cashman LLP are acting as U.S. securities counsel for the company and the underwriter, respectively [4]. Group 4: Company Overview - Elong Power is focused on the research, development, manufacturing, sales, and service of high-power lithium-ion batteries for electric vehicles and energy storage systems [7]. - The company has a comprehensive product and technology system that includes battery cells, modules, system integration, and battery management system development [8]. - Elong Power's product portfolio includes lithium manganese oxide and lithium iron phosphate batteries, catering to high-power and energy storage applications [8].

One South Korean family saw their fortune swell past $800 million on paper — not from an IPO, not from real estate, not from crypto — but from a battery deal with Tesla. Less than two years later, the value of that contract was quietly revised down to just $7,386. Yes, from $2.9 billion to $7,386. A 99.9997% collapse. Behind the swing is L&F Co., a manufacturer of high-nickel cathode materials used in electric vehicle batteries. In February 2023, the company signed a supply agreement with Tesla and its ...

Core Insights - Amprius Technologies, Inc. is a leader in next-generation lithium-ion batteries, specifically utilizing a Silicon Anode Platform to enhance energy density and performance [5] Group 1: Upcoming Events - Amprius will participate in the Oppenheimer Emerging Growth Conference on February 3-4, 2026, where CEO Tom Stepien and CFO Ricardo Rodriguez will engage in one-on-one meetings with investors [2] - At the TD Cowen Annual Aerospace & Defense Conference on February 11-12, 2026, CFO Ricardo Rodriguez will also meet with investors and deliver a presentation on February 12 at 8:30 a.m. ET [3] - The company will exhibit at the Drone Show Korea 2026 from February 25-27, 2026, in Busan, South Korea, and will have management and business development teams available for one-on-one meetings [4] Group 2: Company Overview - Amprius specializes in advanced lithium-ion battery technology, offering silicon-anode batteries that provide up to twice the energy density, range, and flight time compared to traditional graphite-based cells [5] - The company is headquartered in Fremont, California, and operates an R&D lab and pilot manufacturing facility focused on silicon anodes and cells [5] - Amprius employs a contract manufacturing strategy to support scalable production, allowing for rapid capacity expansion with minimal capital investment [5] - The company is committed to driving innovation in energy storage, targeting applications in aerospace, defense, and mobility sectors [5]

Core Points - Michigan Attorney General Dana Nessel has requested Gotion Inc to return $23.7 million in state funds after the company abandoned its plan to build a $2.4 billion electric vehicle battery plant in Michigan [1][2] - The project, initially announced in October 2022, was expected to create 2,350 factory jobs but faced criticism due to Gotion's Chinese ownership [2] - Gotion's parent company, Gotion High-Tech, has Volkswagen as its largest single shareholder, owning approximately 30% [3] Company Actions - Gotion has stated its commitment to driving America's clean energy future, including operations at a plant in Illinois [4] - The company has filed a lawsuit against Green Township in Michigan for allegedly breaching an agreement related to the plant [4] Industry Context - There has been a decline in American enthusiasm for electric vehicles, leading automakers to delay or cancel various factory and vehicle projects [4] - Recent policy changes regarding electric vehicles by the Trump administration have caused further retrenchment among automakers [4]

Financial Data and Key Metrics Changes - The company generated full-year Adjusted EBITDA of $2.4 billion, a decrease from $2.6 billion in 2024, reflecting lower ownership in three businesses following partial sales [17] - Adjusted EFO for the year was $1.2 billion, including $161 million of net gains during the year [17] - Excluding tax credits and the impact of acquisitions and dispositions, Adjusted EBITDA was $2.1 billion, compared to $2 billion in the prior year [17] Business Line Data and Key Metrics Changes - The industrial segment generated full-year Adjusted EBITDA of $1.3 billion, up from $1.2 billion last year, with a 10% increase excluding acquisitions and dispositions [17][18] - The business services segment generated full-year Adjusted EBITDA of $823 million, down from $832 million last year, but increased approximately 5% on a same-store basis [18][19] - The infrastructure services segment generated full-year Adjusted EBITDA of $436 million, down from $606 million last year, impacted by the sale of operations and lower terminal deliveries [19][20] Market Data and Key Metrics Changes - North America is benefiting from easing rates, steady consumer spending, and resilient labor markets, although growth remains challenging in certain end markets [10][11] - In Europe, conditions are more challenging with slower activity in cyclical and industrial end markets, but there are early signs of improvement supported by fiscal spending and stabilizing energy prices [11] Company Strategy and Development Direction - The company is close to completing a corporate reorganization to become a single, newly listed corporation, which is expected to improve trading liquidity and increase index-driven demand for shares [5][6] - The strategy focuses on operational excellence and capital recycling, with significant investments in growth acquisitions and stock repurchases [4][8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market backdrop, highlighting that the trading price is 50% higher than a year ago but still at a discount to NAV [8] - The company is well-positioned with capital and capabilities to continue building value in 2026, with a strong focus on operational improvements and cash generation [9][15] Other Important Information - The company ended the year with approximately $2.6 billion of pro forma liquidity at the corporate level, providing significant flexibility for growth and capital allocation [20][21] - The company has repurchased approximately $235 million of its units and shares, remaining committed to completing its $250 million buyback program [21] Q&A Session Summary Question: Clarios performance and monetization - Management indicated that Clarios is generating significant free cash flow and the 45X tax credits will enhance cash for reinvestment, with various options for returning cash to shareholders [23][24] Question: Scientific Games earnings trajectory - Management noted that while there is a strong pipeline for Scientific Games, it takes time for earnings to materialize, and they remain cautiously optimistic about the business [26][27] Question: Balance between reducing leverage and pursuing growth - Management emphasized that growing EBITDA will naturally reduce leverage, and they are focused on growth while managing debt levels [28][29] Question: Update on CDK operations - Management reported strong renewal activity and a focus on stabilizing churn through modernization and customer relationship solidification [42][43] Question: Deployment of capital and acquisitions - Management expressed confidence in continuing the momentum of acquisitions into 2026, with several opportunities being explored [45]