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July 28, 2015 3:28 AM ET

Machinery

Company Overview of Proterra Inc.

Company Overview

Proterra Inc. designs and manufactures heavy-duty vehicles. It offers EcoRide, a battery electric and zero-emissions bus; and Proterra Catalyst, an electric transit vehicle. The company also provides TerraFlex Energy System that enables customers to select amount and type of energy storage to meet specific route requirements; TerraVolt fast charge batteries; TerraVolt extended range batteries; on-route charge station and in-depot charging services; and financing solutions, route simulation analysis, battery lifecycle management, and standard warranty services. It serves customers throughout the United States. Proterra Inc. was founded in 2004 and is headquartered in Greenville, South Carolin...

1 Whitlee Court

Greenville, SC 29607

United States

Founded in 2004

Phone:

864-438-0000

Fax:

864-281-1894

Key Executives for Proterra Inc.

Chief Executive Officer
Age: 37
Founder, Chief Technology Officer and Director
Chief Financial Officer
Vice President of Engineering
Chief Business Development Officer and General Counsel
Compensation as of Fiscal Year 2015.

Proterra Inc. Key Developments

Two California Central Valley Cities of Stockton and Porterville Selects Proterra Catalyst for Zero-Emission Buses

Proterra announced that the cities of Stockton and Porterville have each placed orders with Proterra for its new Catalyst bus with funding from the San Joaquin Valley Unified Air Pollution Control District. Four new zero-emission, battery-electric Proterra® buses will replace diesel buses in a concerted effort from the Valley to enable the proliferation of clean-air fleets, significantly reduce emissions and improve ambient air quality and public health. Notably, the Proterra Catalyst is the most efficient 40' transit bus on the market, nearly six times more efficient than the diesel buses it will be replacing, at 22 MPGe. San Joaquin Regional Transit District (RTD), which serves more than 687,744 people in San Joaquin County, will be ordering an additional two Catalyst buses to provide clean, reliable, and efficient bus rapid transit for the region. Tulare County's Porterville Transit also has plans to procure two Proterra 40' Catalyst buses to inaugurate the Southern Valley's first electric transit bus service for approximately 650,000 passengers per year. On the heels of announcing national expansion plans and breaking four records in efficiency, gradeability, weight and acceleration at the Altoona Bus Research and Testing Center, these additional customer orders from Stockton and Porterville will bring the company's firm orders to 110 units, with 323 options contracted, for a total of 433.

Proterra Wins $3 Million California Energy Commission Grant to Expand Advanced Manufacturing of Zero-Emissions Transit Buses to West Coast

The California Energy Commission awarded a $3 million grant to Proterra at its April Business Meeting. The grant will fund the design, development and construction of Proterra's new zero-emission, battery-electric transit bus manufacturing line in California. Proterra's expansion was prompted by the strong growth in market demand for the new Proterra Catalyst vehicle. The proposed facility, to be located in the San Gabriel Valley, is expected to be operational by the fourth quarter of 2015 and will create more than 70 new local jobs. During the grant term, Proterra plans to manufacture an estimated 424 buses, resulting in a reduction of 900M lbs of CO2 over the lifetime of those vehicles. Proterra was the only bus provider selected for CEC funding. Proterra selected the San Gabriel Valley as an optimal location to serve existing and future transit customers throughout California. The manufacturing facility will benefit economically distressed communities throughout the San Gabriel Valley providing good living-wage jobs in southern California's emerging center of high-tech manufacturing. Ultimately, implementing the California Zero-Emission Public Transit Bus Manufacturing Project will help further lower production costs, reduce the upfront cost of zero- emission buses and provide a strong spark to accelerate widespread deployment and adoption. The project will accelerate private investment in California, bringing in $5,411,352 in private investment to match the $3,000,000 Energy Commission investment, for a total project budget of $8,411,352.

Proterra, Inc. Introduces Extended-Range Electric Bus, Flexible Battery System

Proterra Inc. launched a new extended-range product line. With the introduction of the new TerraVolt XR extended-range battery, Proterra buses can now be configured to travel up to 180 miles between charges. This newest high energy density battery complements the existing TerraVolt FC fast-charge battery which has been extensively tested over nearly one million customer revenue miles. These two battery packs are key components of Proterra’s revolutionary TerraFlex energy system and can be used interchangeably in the Catalyst vehicle platform. This system enables customers to select the right amount and type of energy storage to meet specific route requirements. Once customized, operators can easily reconfigure battery packs to meet evolving service needs. Both battery systems are compatible with Proterra’s on-route and in-depot chargers, resulting in a platform with ultimate flexibility at the lowest cost. The fast-charge Catalyst FC is now available in configurations carrying between 53 kWh and 131 kWh of energy storage and can be fully recharged in under 10 minutes. The extended-range Catalyst XR is now available in configurations carrying between 129 kWh and 321 kWh of energy storage and can be recharged in a little over an hour. The new product line continues to deliver on Proterra’s promise to be the lightest-weight and most energy-efficient heavy duty platform available.

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