Proterra Secures Additional $30 Million in Financing for EV Transit Technology
Battery-electric bus manufacturer Proterra Inc. has raised more than $30 million in additional funding to accelerate further deployment of zero-emission EV transit technology.
Kleiner Perkins and GM Ventures led the financing.
Proterra’s first generation product build slots are filled through the remainder of the year, and Proterra plans to introduce its new second generation product to the transit industry later this year.
According to Proterra CEO Ryan Popple, “EV transit is no longer an idea for the future; it is real and working daily in cities across the country. EV technology is an ideal fit for urban transit, and this funding will accelerate Proterra’s ability to market a zero-emission, low-cost, clean option for urban mobility to more communities.”
Another $10 million in funding is expected to close within the coming weeks, bringing the total for the financing to $40 million.
Category: Featured, General Update, Green
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