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BMW i Ventures today announced that it was part of an investment in Estes Energy Solutions, Inc., a California-based materials and manufacturing firm specializing in zero-emission power systems for the electrification of commercial and industrial markets using lithium-iron-phosphate (LFP) batteries that are relatively inexpensive to make because they don’t use rare earth metals such as cobalt and nickel. The pilot manufacturing line resulting from the influx of capital will enable Estes to increase the U.S.-based battery supply chain. The $11 million seed round was co-led with Fortescue Ventures with participation from New Systems Ventures, and early investor DCVC.
“What makes Estes different isn’t just the unique technology, it’s the people.” said Baris Guzel, Partner at BMW i Ventures. “This is a team that’s been in the trenches, building rugged, high-density battery systems with real-world safety and scale in mind. It’s that rare blend of deep engineering chops, operator mindset, and execution urgency. We couldn’t be more excited to partner with them.” Continue reading
Penske Automotive Group Increases Dividend Again
Penske Automotive Group, Inc. (NYSE: PAG) said today that its Board of Directors has approved a quarterly dividend of $1.32 per share, representing an increase of 4.8% or $0.06 per share. This is PAG’s 19th consecutive quarterly increase. The dividend is payable 3 September 2025 to shareholders of record as of 15 August 2025. (read AutoInformed.com on: Penske Automotive Adds Ferrari Dealership in Modena!)*
“We are pleased to provide shareholders with another increase in the quarterly dividend, reflecting the continued strength of our balance sheet and strong cash flow,” said Penske Automotive Group President Robert H. Kurnick, Jr.** Continue reading →