Proterra secures USD200m funding
By Jim Gibbins - 1st November 2020
USA – Electric bus manufacturer, battery, drivetrain and charging infrastructure supplier, Proterra Inc of Burlingame, California, has secured a USD200m investment led by Cowen Sustainable Advisors LLC (CSI) along with supporting investments from Soros Fund Management, Generation Investment Management, and Broadscale Group. The new investment is comprised of USD150m from CSI and investments totalling USD50m from Soros Fund Management, Generation Investment Management, and Broadscale Group.
The funding is to fund a variety of corporate expenditure, including Proterra's battery and electric drivetrain research and development, business development activities including expanding use of Proterra technology in additional commercial vehicle segments and, expanding the Proterra Energy business to provide supplemental charging and energy management services designed to lower fleet management costs.
