Bus

DesignLine receives substantial financing

Posted on December 15, 2010

[IMAGE]DesignLine-Vehicle-Photo-HEV-2.jpg[/IMAGE]DesignLine Corp., developer and producer of both a hybrid bus (the ECO-Saver) and an all-electric bus (the ECO-Smart) for mass transit, announced it secured substantial financing from a consortium of major financial institutions, led by Guggenheim Venture Partners, which doubled their initial investment in the company, and ORIX Venture Finance.

DesignLine's patented and proprietary designs for hybrid and all-electric buses significantly reduce emissions and provide lower total life-cycle operational costs, according to the company.

"This capital infusion allows DesignLine to meet the ever-increasing global demand for our products," said DesignLine CEO Brad Glosson. "We truly appreciate the support of our original shareholders, new investors, vendors and customers over the last few months as we completed this financing."

 

 

View comments or post a comment on this story. (0 Comments)

More News

First Transit awarded Philadelphia American Airlines shuttle ops contract

The company will transport passengers on the ramp side of the airport between all terminals serving the airline. The contract also includes preventative maintenance.

REV Bus Group partners with Schetky NW Bus Sales for spring events

Will present Champion Bus unit at Schetky booth at the Argentum Senior Living Executive Conference and Tradeshow (formerly ALFA) in Denver May 9 to 12.

XL Hybrids introduces cloud-based fleet analytics system

XL Link is currently measuring key performance indicators in vehicles equipped with XL3® Hybrid Electric Drive Systems for major fleets, such as the City of Boston, Yale University, AmeriPride Services and Montgomery County, Md., to name a few.

Truck plows into Las Vegas transit bus, injures 15

One truck passenger, a woman who wasn’t wearing a seat belt, is in critical condition with life-threatening injuries, while the driver and the other occupants of the truck were also hospitalized with nonlife-threatening injuries, including broken legs. Ten bus passengers also were sent to hospitals, but their injuries were minor or nonlife-threatening.

Haldex launches Midland value line brand in North America

Midland products today include actuators, air tanks, air coils and air tubes as well as electrical coils, clutch, fittings, glad-hands and water pumps.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close