30 Jun '15, 4pm

Electric bus maker #Proterra completes $55M strategic financing #EV

Electric bus maker Proterra completes $55M strategic financing 30 June 2015 Battery-eletcric bus manufacturer Proterra has completed a $55M strategic financing. This signals a new growth phase for the company, as Proterra scales production to meet growing demand and accelerates cash realization. Proterra closed a $30-million Series 4 equity round led by $19 million from several new strategic investors. The existing major investors in Proterra added $11 million of equity. In conjunction with the equity financing, Proterra completed a debt financing in an amount up to $25 million with Hercules Technology Growth Capital. The strategic debt financing will provide long-term debt capital to fully fund Proterra’s new Advanced Manufacturing facility in California, which was recently awarded a California Energy Commission grant to support clean vehicle technology growth. In additio...

Full article: http://www.greencarcongress.com/2015/06/20150630-proterra...

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