# Anglo American invests $200 million in First Mode and combines nuGen

Anglo American signed a binding agreement to combine its nuGen Zero Emissions Haulage Solution with First Mode and invest an additional $200 million in the combined business, valuing it at about $1.5 billion. The transaction is expected to close in January 2023.

- Type: Investment
- Announced: 2022-12-07
- Value: $200.0M
- Status: announced
- Products: zero-emission haulage solution, hydrogen fuel cell powerplant
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Anglo American](https://endata.com/companies/15317.md) (investor)
- [First Mode](https://endata.com/companies/54501.md) (partner)

## Sources

- [listcorp.com](https://www.listcorp.com/jse/agl/anglo-american-plc/news/anglo-american-combines-nugen-with-first-mode-and-invests-200m-to-accelerate-zero-emissions-haulage-solution-2811416.html), 2022-12-07: "Anglo American has signed a binding agreement with First Mode to combine Anglo American’s nuGen Zero Emissions Haulage Solution with First Mode."
- [prnewswire.co.uk](https://www.prnewswire.co.uk/news-releases/first-mode-secures-200-million-in-funding-from-anglo-american-and-combines-with-nugen-team-301697250.html), 2022-12-07: "First Mode will develop clean energy system solutions to replace hundreds of diesel engines in Anglo American haul trucks."
- [prnewswire.com](https://www.prnewswire.com/news-releases/first-mode-secures-200-million-in-funding-from-anglo-american-and-combines-with-nugen-team-301697250.html), 2022-12-07: "First Mode will develop clean energy system solutions to replace hundreds of diesel engines in Anglo American haul trucks."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.