Courtesy of DesignLine
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."