BHE Renewables has been awarded a $15 million grant from the U.S. Department of Energy for in support of its lithium extraction from the geothermal brine at its generating facilities in the Salton Sea, California.
The grant will be part of the funding for the construction of a demonstration plant to convert lithium chloride into battery-grade lithium hydroxide in Calipatria, California.
In 2021, the California Energy Commission (CEC) awarded a $6 million grant towards the facility.
Worldwide lithium demand has soared as lithium-ion battery powered cars have moved from the fringe into the mainstream.
The Salton Sea area, one of California’s poorest and most environmentally damaged, may be on the verge of a lithium “gold rush” that could transform the local economy.
“Successful lithium production from geothermal brine could become the catalyst to revive Imperial Valley’s decades-old geothermal power industry, not just creating new jobs but also making the price of baseload geothermal power more cost effective for the benefit of California customers. These two projects represent bold steps in further solidifying the state’s global leadership in renewable energy and sustainability,” Jonathan M. Weisgall, Vice President of Government Relations at Berkshire Hathaway Energy, said.
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.
Berkshire Hathaway HomeServices, a global residential real estate brokerage franchise network, is pleased to announce its expansion in the South region with the addition of Berkshire Hathaway HomeServices McLemore & Co., Realty.
This marks the Berkshire Hathaway HomeServices brand’s continued growth with its 10th location in the state of Tennessee adding 32 network agents to the global brokerage.
The brokerage is led by industry veteran David McLemore who began his real estate career with Collins-Maury Realtors over two decades ago. Earning many accolades and recognition throughout his successful career in real estate, David has been awarded Rookie of the Year, the Presidential Award and the Inner Circle Award and became a Lifetime Member of the Multi-Million Dollar Club. He is also the proud owner of McLemore Home Builders specializing in residential new construction. Additionally, David is very active in the West Tennessee Home Builders Association where he currently serves as Vice President and will serve as the President in 2023.
“The Berkshire Hathaway HomeServices global brand comes with unlimited potential,” said David McLemore, Owner of Berkshire Hathaway HomeServices McLemore & Co., Realty. “This move gives us the ability to expedite our growth and the growth of our agents with a brand that is highly respected.”
“We are thrilled to welcome David and his dynamic team to the global network,” said Christy Budnick, CEO of Berkshire Hathaway HomeServices. “David and his team bring decades of combined experience to our network. It is exciting to have them begin a new venture and we look forward to working together to grow the firm they have always wanted.”
By joining the network, Berkshire Hathaway HomeServices McLemore & Co., Realty agents gain access to Berkshire Hathaway HomeServices’ active referral and relocation networks, and its “FOREVER Cloud” technology suite, a powerful source for lead generation, marketing support, social media, video production/distribution and more.
The renowned brand also provides an exclusive Luxury Collection marketing program for premier listings. Its Prestige Magazine showcases network members’ premium listings with a strong lineup of feature stories covering topics that appeal to high-end real estate clients.
Gino Blefari, Chairman of Berkshire Hathaway HomeServices, also welcomed the company to the network, “Berkshire Hathaway HomeServices McLemore & Co., Realty are trusted resources within the communities in which they serve and to their buyers and sellers. These qualities align well with Berkshire Hathaway HomeServices’ mission of delivering superior customer service and improving the lives of their clients.”
David McLemore is a Memphis native whose family also has strong entrepreneurial roots in the community and at one time had 21 convenience stores throughout the Midsouth, McLemore Markets. David met his wife of 16 years, Tiffany McLemore, through real estate. She also holds the title of Broker and is a former Relocation Director.
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.
Berkshire Hathaway-backed BYD Co., Ltd. has unveiled its BYD Type A electric school bus. The bus offers innovative vehicle-to-grid technology, allowing the vehicle to serve as a power storage resource when it’s not transporting students. The Type A can seat up to 30, and can be equipped with an ADA liftgate capable of lifting 800 pounds. The bus has a range of up to 140 miles on a single charge.
“This is a timely solution: BYD’s Type A battery electric school bus is designed to be there for school districts 24 hours a day, both as a vehicle and power storage resource, said Stella Li, President of BYD North America. “The BYD combination of top-notch safety features, innovative design and reliable performance makes this a practical and highly affordable zero-emission solution.”
Safety
BYD made safety the top priority in its school bus design. Standard safety features include a high strength steel construction body, electronic stability control to aid handling, and an electronic braking system to ensure more evenly distributed brake force.
At the heart of the BYD Type A is its lithium iron phosphate battery, the safest and most reliable in the electric vehicle industry.
In addition, BYD adds an additional layer of protection with its Predictive Stop Arm™, which monitors approaching traffic and notifies students as they exit the bus when it is safe to cross.
With length options of 26.7-feet, 24.5-feet and 22.9 feet, BYD’s Type A battery-electric school bus is perfect for routes with fewer students and for transporting those with disabilities.
BYD buses can be equipped with HSM 3-point lap-shoulder belts, integrated child seats, and portable restraints. These school bus seats are not only designed to keep children safer, but they have the benefits of improving behavior, reducing bullying, and minimizing driver distraction.
Driver Comfort
With the driver being the first safety element, BYD drew from the experience of thousands of bus operators to enhance comfort and ergonomics in designing the driver’s cockpit. The driver’s area features comfort seats, a 16.5-inch power steering wheel and telescopic steering column, high level of visibility, and easy to reach control switches. The driver can also control the air conditioning over the cockpit in addition to controlling the system for passengers.
Our Technology
“Just like our Type D bus introduced last year, our Type A bus bi-directional charging capability is a game changer,” said Samuel Kang, BYD’s Head of Total Technology Solutions. “School buses can be charged overnight when energy demand is low, and clean emission free energy can be fed back into the classroom during school hours when the bus is parked keeping classrooms well-lit and students and teachers plugged-in.”
BYD offers two kind of charging solutions to meet different needs. The150 kw DC charging solution is available with high charging power and efficiency. BYD also provides 19.2 kw single phase AC charging.
BYD’s innovative battery-electric technology can cut fuel costs by as much as 60% compared to diesel vehicles. With fewer moving parts and less vibration, maintenance costs can be cut by as much as 60%.
BYD and Berkshire Hathaway
In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares for $232 million. It’s an investment that has paid off handsomely. Berkshire’s original investment of $232 million had grown in value to $5.897 billion as of December 31, 2020.
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.
Warren Buffett recognizes that stock market prices periodically get disconnected from fundamentals. For Buffett, it’s both a caution and an opportunity.
“People get captivated simply by the notion of rising prices without going back to the underlying rationale. And that’s when you get very dangerous conditions in terms of possible bubbles,” Warren Buffett said at the 1997 Berkshire Hathaway Annual Meeting.
Buffett notes that this applies to the market’s extremes both going up and falling.
“It’s just people behave in extreme ways in markets,” he adds. “And over time, that’s very good for people that keep their heads.”
Buffett’s full explanation on bubbles and market extremes
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.
(BRK.A; BRK.B) – Earlier this week, we issued a press release announcing that the Berkshire Hathaway Annual Shareholders Meeting to be held on April 30, 2022 will be an in-person meeting. Since that time, we have received many questions about the location of the meeting. We now realize that we made an error in our earlier press release in not being clearer with respect to what we had taken for granted. We would never consider holding our shareholder meeting anyplace other than Omaha. We could not have a better venue than the CHI Health Center or a better city than Omaha for hosting our event.
As was stated in the earlier press release, additional information about the meeting will be included in Berkshire’s 2021 Annual Report which is scheduled to be posted on the Internet on Saturday morning, February 26, 2022. If there are additional updates regarding the meeting, they will be posted on Berkshire’s website at www.berkshirehathaway.com. In addition, as has been done for the past several years, the meeting will again be webcast.
A potential strike against BNSF Railway Company over a new point system for attendance has been temporarily blocked by a federal judge.
The threat of a strike by some 17,000 members of the Brotherhood of Locomotive Engineers and Trainmen, and the Transportation Division of the International Association of Sheet Metal, Air, Rail and Transportation had appeared imminent.
The U.S. District Court for the Northern District of Texas issued a Temporary Restraining Order (TRO) prohibiting both BLET and SMART-TD from authorizing, encouraging, permitting, calling, or otherwise engaging in any strikes, work stoppages, picketing, slowdowns, sickouts, or other self-help against BNSF or its operating rail subsidiaries over any dispute relating to BNSF’s new Hi Viz attendance policy and the standards in the policy.
The Brotherhood of Locomotive Engineers and Trainmen sent the following to its members:
Pursuant to the Court’s Order, BLET is hereby instructing all of its members employed by BNSF that they must NOT engage in any self-help against the railroad. This means that members must NOT engage in any strikes, work stoppages, picketing, slowdowns, sickouts, or any other activity intended to disrupt the operations of the railroad in response to BNSF’s Hi Viz attendance policy.
Further, pursuant to the Court’s Order, BLET is notifying and instructing all members who are now or who may in the future engage in any strike, work stoppages, picketing, slowdowns, sickouts, or any other activity intended to disrupt the operations of the railroad to immediately cease and desist all such activity and to immediately cease and desist all exhortations or communications encouraging same upon pain of fine, suspension, or other sanction by BLET. This means that any member who continues to encourage other employees on social media, or in any other forum, to engage in a strike, work stoppages, picketing, slowdowns, sickouts, or any other activity intended to disrupt the operations of the railroad MUST immediately stop doing so. Members who continue to do so risk fine, suspension, or other sanction by BLET.
The temporary restraining order is set to expire February 8, 2022.
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.
The Berkshire Hathaway Annual Shareholders Meeting will be held on Saturday, April 30, 2022. At this time, we are planning for an in-person meeting. In addition, as has been done for the past several years, the meeting will again be webcast. Additional information about the meeting will be included in Berkshire’s 2021 Annual Report which is scheduled to be posted on the Internet on Saturday morning, February 26, 2022. If there are additional updates regarding the meeting, they will be posted on Berkshire’s website at www.berkshirehathaway.com.
Berkshire Hathaway-backed BYD Co., Ltd. has partnered with leading autonomous vehicle company Nuro to begin producing the company’s third-generation electric autonomous delivery vehicle.
The partnership is expected to scale Nuro’s more affordable, eco-friendly, and convenient services to millions of people across the country.
“BYD will leverage the manufacturing capacity of our Lancaster, California plant by finishing assembly of globally sourced hardware components to support Nuro and bring more jobs to the community,” said Stella Li, Executive Vice President of BYD Co. Ltd. and President of BYD North America, “Together we will build this autonomous delivery vehicle, with the mutual goal of creating a safer environment on streets across the United States.”
The announcement follows Nuro’s $600 million Series D funding round which closed in Q4 2021 and was led by Tiger Global Management with participation from other investors.
Combining both partners’ advanced technology, Nuro’s third-generation autonomous delivery vehicle will feature greater payload and new safety technologies. With twice the cargo volume of Nuro’s current R2 model, the automotive production grade vehicle will also feature modular inserts to customize storage and new temperature-controlled compartments to keep goods warm or cool. Safety enhancements include an external airbag to further improve safety for pedestrians outside the vehicle, as well as a multi-modal sensing suite, including cameras, radars, lidar, and thermal cameras, creating a redundant 360-degree view.
Nuro was founded in 2016 by Jiajun Zhu and Dave Ferguson, former principal engineers of Google’s self-driving car team. Specializing in developing zero-occupant vehicles designed specifically for transporting goods and not passengers, Nuro has launched two generations of autonomous vehicles, introduced delivery service with industry leaders including Domino’s, Kroger, and 7-Eleven, and announced a multi-year partnership with FedEx.
“BYD is one of the largest OEM networks of electric vehicles in the world, and we are thrilled to partner with them to help us move one step closer to scaled commercial operations,” said Jiajun Zhu, Nuro co-founder and CEO. “We look forward to transforming the hardware components of BYD’s globally sourced electric vehicle platform into innovative autonomous vehicles capable of operating on public roads at our new facility here in America. Through our partnership with BYD, we plan to produce autonomous vehicles at scale that can improve road safety, air quality, and overall access to goods.”
As a leader in the NEV industry, BYD has innovated rich technologies in the field of electrification. In this project, BYD is jointly working with Nuro on vehicle development, and is responsible for vehicle manufacturing and initial vehicle testing, and provides hardware like the Blade Battery, electric motors, electronic controls, and displays for human-machine interaction. Nuro integrates technologies such as autonomous driving, control modules and sensors. BYD will finish assembly of the hardware platform at its Lancaster plant in the United States using globally sourced components. Nuro will then complete the vehicle manufacturing process by installing and testing the autonomy systems that will make the platform capable of operation at the company’s new facilities in southern Nevada.
BYD and Berkshire Hathaway
In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares for $232 million. It’s an investment that has paid off handsomely. Berkshire’s original investment of $232 million had grown in value to $5.897 billion as of December 31, 2020.
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.
New types of businesses are popping up all the time. It is the nature of the business world that people throw their hats in the ring and launch new enterprises. For Warren Buffett, as a long term investor, he is looking for businesses that have a high barrier to entry that keeps them from being swamped with competitors.
“There are some industries that are just never going to have barriers to entry,” Warren Buffett said at the 2012 Berkshire Hathaway Annual Meeting. “And in those industries, you better be running very fast because there are a lot of other people that are going to be running and looking at what you’re doing and trying to figure out, you know, what your weakness is or what they can do a little bit better.”
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.
Marmon Retail Solutions has acquired Big Red Rooster Flow and Project CSI, effective November 18, 2021. The acquisitions were just announced and the terms were not disclosed.
Together, BRRF and Project CSI are one of the largest providers of end-to-end program management and construction services to the retail fuel, retail drug and quick-serve restaurant channels. Their services include retail site surveys, site branding and remodeling, procurement of all necessary materials for project execution, and overall management of strategic brand programs.
Based in Northfield, Illinois, BRRF uses a proprietary software program that integrates with its customers’ systems to help retailers track programs and manage their brands. Based in Fishers, Indiana, Project CSI manages installation of interior and exterior branding and remodeling programs at retail sites throughout the U.S. using contracted crews. The company also provides ongoing audit services to ensure brand accuracy and overall program execution.
Rob Mead at BRRF and Chris Pratt at Project CSI will continue to lead their respective companies.
“We are excited to have BRRF and Project CSI join our group of companies,” said Jason MacGregor, Group President of Marmon Retail Solutions. “Both have earned outstanding reputations for providing innovative and dependable services. Together, they will significantly bolster the offerings of Marmon Retail Solutions and help us continue to grow in service to our valued customers.”
Marmon Retail Solutions provides retailers and brand marketers worldwide with comprehensive products and services for an array of retail environments. The group includes L.A. Darling, DCI Marketing, Trade Fixtures, Eden, Retail Space Solutions, Commercial Zone, Store Opening Solutions, Unarco Industries, Artform Creative, and Cannon Equipment.
Marmon Retail Solutions is part of Berkshire’s Marmon Holdings, Inc., which comprises 11 groups and more than 100 autonomous businesses with total annual revenue of $10 billion. Marmon’s 20,000-plus team members serve diverse industries and markets worldwide.
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.