PHEV conversion company Echo Automotive completes $3M financing, joins CALSTART
PHEV conversion company Echo Automotive completes $3M financing, joins CALSTART 27 May 2013 Echo Automotive, Inc., a developer of technologies enabling the conversion of existing fleet vehicles into plug-in hybrid electric vehicles, completed a $3-million financing with United Fleet Financing, LLC, through a private placement offering and mezzanine financing. Echo’s Chief Technology Officer is John Waters, the founder & CEO of Bright Automotive (earlier post ). Among his other career achievements are launching the lithium battery business for Delphi Electronics, including the Segway battery pack; project lead for production and battery pack design of GM’s EV1 electric car; and VP of Transportation at Rocky Mountain Institute (RMI). The EchoDrive conversion system comprises a 30 kW traction motor; modular Li-ion battery pack built with 2.2 kWh modules; 650A inverter and pow...