Rivian Automotive, Inc. jumped over 5% in morning trading.
It was announced that the electric vehicle (EV) company would form a collaboration with Starfire Mine and BrightNight. The mine, which used to be one of the largest coal mines in the U.S., will convert into a solar energy center through a four-stage process. Construction of Phase 1 will begin in 2025. BrightNight will lead the project, while the mine will be renamed to BrightNight Starfire Renewable Energy Center. Rivian worked together with The Nature Conservancy through the vetting process to select a sustainable, clean energy project.
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