Proterra Electric Bus Maker Secures $20M Funding

Proterra, a heavy-duty eco vehicle manufacturer based in Golgen, Colorado, announced that it has received $20 million in funding from clean tech investor MK Energy and Infrastructure.

The money will be used to support Proterra’s efforts to offer cleaner and more economical public transportation alternatives to transit agencies in the U.S. and abroad. The investment will allow the company to accelerate the construction of its full-scale production site in Greenville, S.C., which will break ground later this year and will have a capacity of 2,500 EcoRide BE-35 buses per year. The plant will create a total of 1,300 jobs over the next five years.

"Our partnership with MK E+I will help us bring new jobs to Greenville and environmentally friendly buses to transit agencies and communities around the world, allowing them to slash fuel costs and significantly reduce noise and air pollution," said Proterra President and CEO Jeffery Granato. "MK E+I provides strategic experience to Proterra as we grow in the United States and look at global expansion. Together we will drive the transit industry into the next era of clean commuting."

In addition to that, the funds will be used for research & development, advancing Proterra’s clean technology and to promote policies in support of clean commuting.

The Proterra EcoRide BE-35, which will be built at the new Greenville plant, is a patented, zero emission, fast-charge, battery-electric transit bus that is aimed at replacing traditional diesel buses, offering increased efficiency.
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About the author: Andrei Tutu
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In his quest to bring you the most impressive automotive creations, Andrei relies on learning as a superpower. There's quite a bit of room in the garage that is this aficionado's heart, so factory-condition classics and widebody contraptions with turbos poking through the hood can peacefully coexist.
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