Orange EV raises USD35m in funding round
By Bradley Osborne - 17th August 2022
USA – Orange EV, a manufacturer of electric terminal tractors based in Riverside, Missouri, has raised a total of USD35m in investments to support the company’s growth, following an institutional funding round led by venture capital firm S2G Ventures and private investment firm Henry Crown and Company.
Founded in 2012, Orange EV has deployed more than 450 heavy-duty electric terminal tractors or yard trucks in North America and the Caribbean since its first vehicle was delivered in 2015. The company began solely as an electrification specialist, retrofitting diesel trucks to run on battery-electric power, but it now also produces brand new vehicles at its site in Missouri. Kurt Neutgens, the company’s co-founder, President and Chief Technology Officer, stated that the funding will be used to expand manufacturing capabilities to meet growing demand and to advance its work in research and development into new products.
