Wednesday, June 9, 2010

Proterra Finds $20M For Electric Buses

Golden, Colorado-based Proterra, a maker of zero emission city buses and other electric vehicles, has raised $20M in a new venture funding round, the firm said Wednesday. According to the firm, the round came from MK Energy and Infrastructure, LLC, and will go towards building a full-scale, manufacturing plant in Greenville, S.C. The company said that manufacturing plant will product as many as 2,5000 of its electric buses a year, and employs around 1,300 workers over the next five years. The company claims its EcoRide bus will provide 500 percent better fuel efficiency than conventional diesel buses, and 400 percent greater efficiency than hybrid buses. Proterra is headed by Jeffery Granato. More information »