Envirotech Vehicles Ready to Expand following $10M Financing Boost and $100M Commitment
DENVER, Colo., Aug 27, 2024 (247marketnews.com)- Envirotech Vehicles (NASDAQ: EVTV) is positioned to grow after securing a $10 million Purchase Order (PO) financing line from GOBA Capital Inc.
The funding will be used to the build and deliver over 200 vehicles to PLUGD Electric Leasing and Rentals Inc.
Envirotech Vehicles also secured over $100 million in financing commitments from a boutique finance consulting firm, Karla Mae Capital.
Karla Mae Capital’s President, Bront Bird, stated, “We’re incredibly excited to partner with Envirotech Vehicles as they lead the charge in EV innovation. The initial $10 million PO financing is just the beginning. We’re eager to expand our support and help Envirotech Vehicles unlock even greater opportunities. This partnership underscores our belief in their vision and the potential for substantial growth.”
Philip Oldridge, CEO of Envirotech Vehicles, commented, “The backing from GOBA Capital and Karla Mae Capital is a tremendous endorsement of our strategy and vision. We’re now exceptionally well-positioned to seize emerging opportunities in the electric vehicle landscape and to lead the charge in zero-emission transportation.”
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