DesignLine is truly changing the global face of City Transit.
Charlotte, NC (PRWEB) October 04, 2011
DesignLine Corp, the developer and producer of the world’s most advanced All–Electric Bus (Eco-Smart II) and Range Extended Electric Bus (Eco-Saver IV) for mass transit, announced today the commencement of funding under its $50 million dollar syndicated financing. The syndicate includes domestic groups and international sovereign wealth funds which invest in leading and proven “green” products. “This financing provides DesignLine the capital to continue its global expansion. Our new partners are committed to not only provide capital but also assist in the strategic growth of DesignLine within the United States, Canada, the Middle East and now the European Union,” stated Brad Glosson, CEO of DesignLine Corporation. “With a growing customer list that already includes some of the largest and most discerning transit operators in the United States, Canada, Asia and the Middle East, DesignLine is truly changing the global face of city transit,” said Bhavesh Singh, Aegis Capital Partners.
DesignLine Corporation is leading the way to cleaner urban skies and quieter cities. The Company’s patented and proprietary designs for All-Electric buses and Range Extended Electric buses not only significantly reduce emissions but also provide lower total life-cycle operational costs. “Our vehicles are cleaner, greener and cheaper to operate than any other city transit bus. The results of daily operation over the last 15 years establishes DesignLine as the industry leader, by a wide margin, in all objective measures used to gauge electric and hybrid vehicle performance – fuel economy, emissions profile and maintenance costs,” noted Josh Anderson, EVP Engineering and R&D for DesignLine Corporation.
Headquartered in Charlotte, NC, DesignLine is the leading designer and manufacturer of Commercial All-Electric, Range-Extended Electric and CNG Buses. DesignLine buses are in daily operation on five continents. DesignLine’s All-Electric, Range Extended Electric and CNG vehicles are the industry leader in all objective performance measures – fuel economy, emissions, noise and maintenance/reliability – and the primary driver behind its current contract backlog of over $250 million.
Further information on DesignLine and its successful set of products can be found on the company’s website, http://www.designlinecorporation.com.