First Mode secures $200M funding from Anglo American, combines with nuGen

First Mode and Anglo American have signed a binding agreement to combine First Mode with Anglo American's nuGen zero emission haulage solution. The transaction includes a $200 million equity injection from Anglo American and values the combined business at about $1.5 billion.

“First Mode, a global carbon reduction company focused on heavy industry, and global mining company Anglo American have signed a binding agreement to combine First Mode and Anglo American’s nuGen™ zero emission haulage solution to accelerate the transition of mining and other heavy industries to dies”fleetnewsdaily.com

• 1 source
• fleetnewsdaily.comFirst Mode Secures $200 Million in Funding from Anglo American and Combines with nuGen Team - Fleet News Daily : Fleet News DailyfleetnewsdailyDec 7, 2022

Summarized from public sources; check the original articles before acting on it.