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General Motors Ventures Invests in Battery Electric Bus Company 2011.06.13

Detroit, USA - June 13, 2011 - General Motors Ventures LLC will invest $6 million in Proterra Inc., a leading maker of zero-emission commercial transit buses, as part of its mission to invest in next-generation technologies that support innovation in the global transportation industry. Part of a $30 million package to commercialize technology, including rapid-charging transit system.

As unusual as it is to see those words together, the unique EcoRide™ BE-35 battery electric transit bus is the most fuel efficient transit bus on the planet and eliminates all tailpipe emissions. The only noise you’ll hear are the tires rolling down the road.
Courtesy of Proterra
 

Detroit, USA - June 13, 2011

General Motors Ventures LLC will invest $6 million in Proterra Inc., a leading maker of zero-emission commercial transit buses, as part of its mission to invest in next-generation technologies that support innovation in the global transportation industry.

The EcoRide™ BE35.
EcoRide™ 35-foot, low-floor composite body transit bus is built upon a battery-electric vehicle architecture including the key enabling technologies.
Courtesy of Proterra
 
GM Ventures is part of an investment group, led by venture capital firm Kleiner Perkins Caufield & Byers that will invest a total of $30 million in the bus manufacturer
.

Proterra’s value proposition is easy to see when you look at the numbers. The fuel purchases eliminated from a 500% improvement in fuel economy over conventional diesel buses adds up.
Courtesy of Proterra
 
Proterra’s EcoRide™ BE-35 battery electric bus is averaging up to 24 mpg (diesel equivalent) in service, a more than 600-percent improvement over a typical diesel bus
.

Proterra’s EcoRide™ BE-35 battery electric bus is averaging up to 24 mpg (diesel equivalent) in service, a more than 600-percent improvement over a typical diesel bus.
Courtesy of Proterra
 
Using technology developed by Proterra, the lightweight, composite-body bus recharges in about 10 minutes
.

Jon Lauckner, president of GM Ventures.
Courtesy of GM Ventures
 
“This equity investment further demonstrates GM’s commitment to electric propulsion and supports our commitment to identify and invest in technology solutions that help advance the global transportation industry,” said Jon Lauckner, president of GM Ventures.
“While this investment will help Proterra commercialize its electric bus and fast-charging technology, it also helps to address the future challenges of urban mobility.”

The Proterra FastFill™ charging station makes a driver’s life easy by completely automating the steps to recharge the vehicle all in under 10 minutes. Drivers and transit managers enjoy the convenience of on-route charging to continue to operate their fleets on schedule.
Courtesy of Proterra
 
Proterra Inc. was founded in 2004
and is currently manufacturing buses in a temporary plant in Greenville, S.C. near Clemson University International Center for Automotive Research.

Using technology developed by Proterra, the lightweight, composite-body bus recharges in about 10 minutes.
Courtesy of Proterra
 
Proterra’s TerraVolt™ energy storage system consists of 54-72 kWh lithium titanate battery packs that recharge in 10 minutes using the company’s roof-mounted Fast Fill™ recharging system
.

Proterra’s products are the result of taking an obvious but radically new approach to satisfying bus fleet operator’s needs.
Courtesy of Proterra
 
Three EcoRide BE-35 buses
are currently in a test fleet near Pomona, Calif., with additional buses to be added, and new buses and charging stations are also headed to San Antonio and Tallahassee, Fla., later this year.

This investment allows Proterra to complete federal validation testing of its bus, roll out additional pilot fleets and complete initiatives to significantly reduce costs and increase volume production at its Greenville, S.C. manufacturing plant, which will have the capacity to produce 400 buses annually.

Proterra’s EcoRide™ BE-35 battery electric bus is averaging up to 24 mpg (diesel equivalent) in service, a more than 600-percent improvement over a typical diesel bus.
Courtesy of Proterra
 
With up to a 40-mile range for the under 10-minute fast charge application, the EcoRide BE-35 can easily replace 80 percent of diesel buses in typical transit and shuttle use without altering schedules or passenger service.

The EcoRide can also be configured for longer ranges while charging at a central location.

Jeff Granato, President and CEO of Proterra.
Courtesy of Proterra
 
“With the support of GM’s automotive expertise and technology leadership, we can achieve a better, cleaner future for public transportation,” said Jeff Granato, president of Proterra.
“We are proud to have General Motors on board.”


About General Motors Ventures


General Motors Ventures, LLC, is a subsidiary designed to help the company identify and develop innovative technologies in the automotive/transportation sector.

General Motors Launches GM Ventures LLC.
Courtesy of GM
 
General Motors Ventures, LLC
, has been funded with an initial investment of $100 million, and is currently exploring equity investments in a number of auto-related technologies and business models.

 
 
More information can be found at

www.gmventures.com  


About Proterra Inc


Headquartered in Golden, Colorado, Proterra is a leading designer and manufacturer of heavy-duty electric drive systems, energy storage systems, vehicle control systems, transit buses and fast charging stations.

 
 
Proterra’s systems are scalable to all forms of commercial buses
.

Courtesy of Proterra
 
Its ground up designs have led to the EcoRide BE-35, the world’s full size 10 minute charge transit bus that replaces conventional diesel buses on a one-for-one basis operating 24/7.

Courtesy of Proterra
 
Paired with the EcoRide BE-35 is Proterra’s proprietary FastFill™ charging station that docks the bus automatically and fast charges through a rooftop connection.

Courtesy of Proterra
 
The EcoRide BE-35 achieves between 24 miles per gallon diesel fuel equivalent fully loaded with 68 passengers – 600% better than a comparable diesel bus.

Courtesy of Proterra
 
For more information on Proterra and its technology please visit:

www.proterra.com  


Contact for Proterra Communications:

Suraya Akbarzad
415-262-5960
sakbarzad@webershandwick.com  


Source: General Motors

http://media.gm.com/content/media/us/en/gm/news.html  



Jeff Granato

President and CEO, Proterra

Jeff Granato
Courtesy of Proterra
 
Before joining Proterra in 2006, Jeff was an experienced executive overseeing growth and strategy for a diverse range of large-scale global businesses, including enabling infrastructure development.

Over the last two decades, Mr. Granato has managed business development efforts worth billions of dollars in retail, technology and financial services companies in various executive management roles, including CEO, CFO, COO and President.

He also served as Senior Engagement Manager at McKinsey & Co. as a member of their Global Growth Strategy Practice, guiding Fortune 500 companies into high-value growth opportunities.

Mr. Granato has also led the development of global operating and supply chain platforms for leading retail businesses such as Waldo’s Dollar Mart de Mexico, Boston Chicken, Inc. and Einstein Noah Bagel Corp.

He has worked as a principal investor from within venture capital and private equity funds and has also represented investors as a Senior Analyst for Ernst & Young’s M&A Advisory Services.

Mr. Granato holds a Bachelor of Arts in Finance from DePaul University and a Masters from J.L. Kellogg Graduate School of Management, both in Chicago, Illinois.

Source: Proterra

http://www.proterra.com/index.php/bios/biodetail/jeff_granato/  



Dale Hill

Chairman, Founder and Chief Technology Officer, Proterra

Dale Hill, Chairman, Founder and Chief Technology Officer of Proterra.
Courtesy of Proterra
 
Dale is a pioneer in clean transit solutions with more than 40 years experience in executive management and sales in transportation and engineering.

He founded Proterra in 2004 to design and manufacture advanced technology vehicles that are powered by clean, domestic fuels.

Prior to Proterra, Mr. Hill founded TransTeq, a company that designed and manufactured the EcoMark Alternative Fueled Hybrid-Electric Vehicle for the Denver Regional Transportation Districtís 16th St. Mall.

These buses distribute 65,000 passengers each day and have carried more than 180 million passengers during 10 years of revenue service.

As a career entrepreneur, Mr. Hill also founded Alumatech, which manufactures aluminum dump trailers and won the 1992 trucking industry award for the ìMost Significant Contribution to the Trucking Industry for Non Powered Vehiclesî.

In addition, he founded Tech-Weld, a Houston based welding supply company which became Houston's third largest supplier to the welding industry prior to its sale in 1992.

Mr. Hill earned a Bachelor of Science in Mechanical Engineering from LeTourneau University in Longview, Texas.

He holds three patents, is a member of the Society of Automotive Engineers and American Welding Society, and has published several papers.


Source: Proterra

http://www.proterra.com/index.php/bios/biodetail/dale_hill/  



Jon J. Lauckner

GM Vice President and President, General Motors Ventures, LLC

Jon Lauckner
Courtesy of GM Ventures
 
Jon Lauckner was named GM Vice President and President, General Motors Ventures, LLC, effective July 1, 2010.

Prior to this appointment, he held the positions of Vice President of General Motors Global Product Planning since August 2009 and Vice President of Global Program Management since May 2005.

He is a member of the GM Senior Leadership Group and had a key role in developing the Chevrolet Volt extended-range electric vehicle.

Jon joined General Motors in 1979 and held a number of positions in product engineering and product development during his career, including international assignments in South America and Europe from 1992 to 2005.

Lauckner received a bachelor of science degree in mechanical engineering from the University of Michigan in 1979.

He earned a master of science degree in management from Stanford Business School in 1990 through the Sloan Fellowship program and attended the GM-Harvard Senior Executive Program in 2001.


Source: General Motors Ventures, LLC

http://www.gmventures.com/index.jsp  




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