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BURLINGAME, Calif., April 03, 2023 (GLOBE NEWSWIRE) -- Proterra Inc (Nasdaq: PTRA) has executed a definitive agreement with CSI Prodigy Holdco LP and related entities to amend its Note Purchase Agreement concerning outstanding convertible notes. This action follows a previous letter of intent announced on March 20, 2023. Details of the amendments can be found in the Company's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission. Proterra is known for its zero-emission electric transit vehicles and EV technology, underscoring its commitment to sustainability in commercial applications.
The South Carolina Department of Education has finalized a deal to deploy 160 Proterra Powered electric school buses from Thomas Built Buses over the next year. This order is the largest electric school bus procurement funded through the EPA’s Clean School Bus Program to date. The new Saf-T-Liner C2 Jouley buses, equipped with Proterra's leading battery technology, can achieve a range of up to 135 miles on a single charge. This initiative aims to enhance zero-emission transportation in schools and is a significant step towards a sustainable future for South Carolina's students.
Proterra Inc (NASDAQ: PTRA) announced a partnership with LG Energy Solution for cylindrical battery cells production in a new facility in Queen Creek, Arizona. This manufacturing complex is expected to provide Proterra with multiple gigawatt hours of U.S.-manufactured battery cell capacity annually, supporting their commercial EV battery systems that comply with USMCA regulations. Mass production is scheduled to begin in 2025, with cylindrical cells qualifying for tax credits under the Inflation Reduction Act. The collaboration has been ongoing since 2016, focusing on high-performance battery technology tailored for commercial vehicles.
BURLINGAME, Calif., March 20, 2023 (GLOBE NEWSWIRE) -- Proterra (Nasdaq: PTRA) has announced a binding letter of intent with CSI GP I LLC, proposing amendments to the Note Purchase Agreement from August 4, 2020. The modifications involve changes to the terms related to convertible notes held by the Cowen Parties. Proterra intends to finalize definitive agreements reflecting this intent. Shareholders can find additional details in Proterra's Current Report on Form 8-K filed today with the SEC. As a leader in zero-emission electric transit vehicles, Proterra focuses on innovation in commercial vehicle electrification technology.
Proterra Inc (NASDAQ: PTRA) announced its fourth quarter and full year 2022 financial results via its Investor Relations website on March 15, 2023. The results reflect the company's focus on zero-emission electric transit vehicles and EV technology solutions for commercial applications. A conference call at 2:00 PM PDT was scheduled to discuss the financial outcomes and provide insights to shareholders. Proterra is recognized for its commitment to durability and energy efficiency, with its products engineered and manufactured in the U.S., contributing to sustainability in public transport.
Proterra Inc (PTRA) will release its Q4 and full year 2022 financial results on March 15, 2023, after market close. A conference call to discuss these results is scheduled for the same day at 2:00 PM PDT. Investors can access the live audio webcast through Proterra’s Investor Relations website.
Proterra is known for its innovative work in zero-emission electric transit vehicles and EV technology solutions, emphasizing sustainability and efficiency in its manufacturing processes.
Proterra Inc (NASDAQ: PTRA) has issued a statement regarding the transition of Silicon Valley Bank (SVB) into receivership by the FDIC. The company reports maintaining a de minimis amount of cash with SVB. Following the announcement from the Treasury Department and the Federal Reserve, Proterra expects to regain access to its accounts by March 13, 2023. The company does not anticipate a material impact on its financial condition or operations due to SVB's situation. Proterra will continue to monitor developments that may affect its relationships with customers, partners, and suppliers.
On February 28, 2023, Proterra (NASDAQ: PTRA) CEO Gareth Joyce was appointed by President Biden to the President's Export Council (PEC), a key advisory body on international trade. The PEC focuses on expanding U.S. exports and addressing trade issues across various sectors. Joyce expressed his commitment to advancing the electric vehicle and battery manufacturing industry, emphasizing the importance of clean transportation for future generations. Proterra is recognized for its zero-emission electric transit vehicles and EV technology solutions, proudly designed and manufactured in America.
Proterra Inc (NASDAQ: PTRA) and Thomas Built Buses (TBB) have announced a significant operational milestone, with TBB’s Proterra Powered Saf-T-Liner C2 Jouley electric school buses surpassing one million miles across North America. This achievement highlights the growing adoption of zero-emission school buses, supported by federal funding such as the EPA’s Clean School Bus program. The Saf-T-Liner C2 Jouley features 226 kWh of onboard energy, providing up to 135 miles of range. This collaboration underscores their commitment to sustainable transportation and cleaner air for communities.
Proterra Inc (NASDAQ: PTRA) announced the appointments of Julian Soell as Chief Operating Officer and Chris Bailey as Chief Business Officer, effective March 1, 2023. These appointments aim to enhance operational and financial performance as the company focuses on sustainable growth in zero-emission transportation. Julian Soell, with over 30 years of experience, will manage manufacturing and supply chain operations. Chris Bailey will lead commercial activities including sales and marketing. Both leaders possess extensive backgrounds in the automotive sector, promising to strengthen Proterra’s leadership in electric transit vehicles.