No matter where in the technology world you work or play, Steve Jobs’ (News 
- Alert) resignation caused stronger aftershocks during the past week than the U.S. earthquake. In other news, there were two major alliances between Detroit and Asia; ClearEdge raised close to $75 million for expansion; and Japan passed a renewable energy bill.
Steve Jobs, who founded Apple (News - Alert) and built it into, arguably, the most influential consumer technology company in history, announced his resignation on August 24—stunning the tech world while raising questions anew about his health and the future of the company. In a letter to the board of directors, Jobs—a pancreatic cancer survivor who also had a liver transplant—wrote: “I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's CEO, I would be the first to let you know. Unfortunately, that day has come.” He was immediately elected chairman of the company's board of directors. Chief Operating Officer Tim Cook became CEO.
Automobile manufacturers Ford Motor Company and Toyota Motor Corporation announced a partnership through which they intend to develop a new advanced hybrid system for light trucks and SUVs. The partnership is also supposed to chart future telematics standards. Ford and Toyota have signed a memorandum of understanding (MOU) on the product development collaboration, with the formal agreement expected by next year. The new hybrid power train to be developed by the partnership will bring the greater fuel efficiency to a new group of drivers.
General Motors and the LG Group agreed this week to jointly design and engineer electric vehicles—expanding a relationship built on LG’s work as the battery cell supplier for the Chevrolet Volt and Opel Ampera extended-range EVs. The agreement will help the U.S. automaker to expand the types of EVs it offers by using the South Korea-based electronics company’s proven expertise in batteries and other systems. For LG, the arrangement represents an opportunity to scale up its portfolio as an automotive solution provider. Going forward, LG and GM will work on key vehicle components, as well as structures and architectures. Timing of the launch of the first vehicles resulting from the partnership will be announced closer to market readiness. The agreement does not involve an exchange of equity between the companies.
ClearEdge Power—a leading manufacturer of scalable, high-efficiency stationary fuel cells— has raised $73.5 million in Series E financing through the sale of new shares and the conversion of previously issued promissory notes. The financing, which ranks among the largest clean-tech investments of the year, to date, will be used to advance customer adoption in key commercial markets, expand internationally, and develop and commercialize new products.
The end of Japanese Prime Minister Naoto Kan's term in office moved a step closer on August 26, as a landmark renewable energy legislation passed into law through a final vote in the upper house of parliament. The bill's approval was one of the conditions Kan put forward for stepping down. The energy law is meant to reduce Japan's reliance on nuclear power following the disaster at the Fukushima Daiichi nuclear complex. The bill also aims to achieve reduce Japan's greenhouse gas emissions by 25 percent by 2020 from the 1990 level. The law will introduce a feed-in-tariff mechanism that requires utilities to purchase at premium prices electricity produced from renewable sources while passing on the costs to consumers. The government has said it wants the feed-in tariff scheme to boost capacity of the five renewable energy types by more than 30,000 megawatts (MW) over a decade. That would add over 12 percent to Japan's total generation capacity before the nuclear disaster of 240,000 MW.
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Cheryl Kaften is an accomplished communicator who has written for consumer and corporate audiences. She has worked extensively for MasterCard (News - Alert) Worldwide, Philip Morris USA (Altria), and KPMG, and has consulted for Estee Lauder and the Philadelphia Inquirer Newspapers. To read more of her articles, please visit her columnist page.
