Canoo wins Defense Department contract
Electric vehicle company Canoo, Inc. said Wednesday it won a contract to supply battery modules for demonstration and analysis to the United States Department of Defense.
Canoo's battery system is modular, is designed to be flexible and is compatible with cells from other battery providers, the company said in a release. In November of 2021, Canoo said it plans to move its headquarters to Bentonville and now has some operations there.
In early December, Canoo said it delivered its Light Tactical Vehicle to the U.S. Army for analysis, after being awarded a contract to present it in July. The vehicle is a jack of all trades that can be used as a flatbed truck or cargo vehicle. In April, the company said it will build the Artemis Crew Transport for the National Aeronautics and Space Administration, which will take astronauts to the launchpad.
In November, Canoo Chief Executive Officer Tony Aquila said the company had more than $2 billion in its order pipeline. The company has yet to turn a profit.
-- John Magsam
Envirotech has deal for e-refueler chassis
Envirotech Vehicles Inc. said Wednesday it will provide chassis for an all-electric aircraft refueler truck for Atlantic Aviation.
The 900-gallon capacity aviation gasoline truck has an electric-vehicle chassis and the fueling module is built to hold longer charges. The truck was developed in partnership with Garsite, an aviation equipment refueling company in Kansas City, Kan.
"There's a special irony in that even owners and operators of fuel-delivery systems themselves are looking to electrify their vehicles," said Phillip Oldridge, chief executive officer of Envirotech. "We have received significant interest for electric refuelers and plan to continue fulfilling the aviation industry's demand for more sustainable ground support equipment."
Envirotech is an electric vehicle and battery manufacturer based in Osceola. The company provides vehicles for commercial and last-mile fleets, school districts, public and private transportation service companies and academic institutions.
-- Andrew Moreau
Arkansas Index rises 9.28 after late rally
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Wednesday at 860.49, up 9.28.
"Equities rallied sharply in afternoon trading following the anticipated move by the Federal Reserve to raise interest rates by a quarter percentage point as Federal Reserve Chair Jerome Powell acknowledged that 'it is gratifying to see the disinflationary process now getting under way,'" said Leon Lants, managing director at Stephens Inc.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.