Welcome to our dedicated page for Proterra news (Ticker: PTRA), a resource for investors and traders seeking the latest updates and insights on Proterra stock.
Proterra Inc (NASDAQ: PTRA) is a pioneering leader in the design and manufacture of zero-emission heavy-duty vehicles, primarily focusing on electric transit buses. Since its inception, Proterra has sold over 480 vehicles to 60 different municipal, university, airport, and commercial transit agencies across 25 states in the U.S., significantly contributing to greener and quieter local transportation.
The company's flagship product, the Proterra Catalyst Platform, is known for its unmatched durability and energy efficiency. Designed to meet the full daily mileage needs of nearly every U.S. transit route on a single charge, the Catalyst platform demonstrates Proterra's commitment to innovation and sustainability in public transportation. These vehicles are rigorously tested and proudly designed, engineered, and manufactured in America, with operational hubs in Silicon Valley, South Carolina, and Los Angeles.
Proterra's commitment to sustainability and innovation is further showcased through its Proterra Energy division, which offers comprehensive EV charging solutions tailored to the specific needs of fleet operators. This includes everything from installation to fleet management software, ensuring that commercial EVs and their charging infrastructure can scale effectively.
Recently, Proterra collaborated with ABC Companies and Pacific Gas and Electric Company (PG&E) to open North America's largest electric motorcoach charging facility in Newark, California. This facility is a testament to Proterra's ability to provide scalable, efficient charging solutions for large fleets. The facility supports up to 1.4 megawatts of EV charging power, allowing up to 40 motorcoaches to be charged simultaneously. This milestone highlights Proterra's role in accelerating the adoption of electric vehicles in the commercial sector.
Despite recent market challenges, Proterra continues to push forward. On August 7, 2023, the company filed for Chapter 11 protection to restructure its business and maximize the value of its product lines. This strategic move aims to strengthen the company’s financial position, ensuring that it can continue to operate and innovate during this transition period.
For more information about Proterra and its latest developments, please visit www.proterra.com or follow them on Twitter @proterra_inc.
Proterra and Anadolu Isuzu have partnered to integrate Proterra's battery systems into the all-electric Citi VOLT buses, enhancing Anadolu Isuzu's EV market presence. This collaboration marks Proterra's entry into the European public transportation sector. The new Citi VOLT buses will offer a driving range of 200km to 405km on a single charge, designed to meet European public transport demands. The partnership aims to promote sustainable transport solutions while reducing operating costs and increasing vehicle efficiency.
Proterra Inc (NASDAQ: PTRA) has expanded its partnership with Lightning eMotors through a new multi-year supply agreement to provide battery systems for Class 4 and Class 5 electric commercial vehicles. The contract entails supplying over 900 megawatt hours of battery capacity, enabling the production of up to 10,000 vehicles between 2022 and 2025. This expansion includes supporting Lightning eMotors' partnership with Forest River for zero-emission shuttle buses and builds upon previous collaborations for Class 3 electric vans.
Proterra Inc (NASDAQ: PTRA) announced its third-quarter financial results on November 10, 2021. The results are available on their Investor Relations website, offering insights into the company's performance. A conference call is scheduled for the same day at 2:00 PM Pacific Standard Time to discuss these results further. Proterra specializes in zero-emission electric transit vehicles and EV technology solutions, emphasizing its commitment to durability and energy efficiency through rigorous U.S. testing, with manufacturing based in America.
LADOT has secured a $6 million grant from the California Energy Commission to create one of the largest EV fleet charging systems in the U.S., powered by a solar and storage microgrid. This initiative aims to support the agency’s transition to a fully electric bus fleet by 2028, with plans for 104 EV chargers at the Washington Bus Yard. The project will reduce greenhouse gas emissions, lower electricity costs, and provide emergency backup power. Proterra and Apparent will collaborate on the installation, ensuring efficient energy management for the electric buses.
Proterra (Nasdaq: PTRA) announced an extension of the redemption date for its public and private placement warrants until 5:00 p.m. NYC time on October 29, 2021. This decision allows warrant holders additional time to exercise their warrants, although the company is not required to extend this deadline. Previously, the initial redemption date was set for October 27, 2021, at a redemption price of $0.10 per warrant. After the initial date, the public warrants were delisted from Nasdaq, and unexercised warrants will only be entitled to the redemption price after the new date.
Proterra Inc (Nasdaq: PTRA) will announce its third quarter 2021 financial results on November 10, 2021, after market close. A conference call will occur at 2:00 PM Pacific Time on the same day to discuss these results. Investors can access a live audio webcast on Proterra's Investor Relations website. Proterra specializes in zero-emission electric transit vehicles, boasting superior durability and energy efficiency, with products manufactured in the USA.
Proterra Inc and Komatsu announced a collaboration to integrate Proterra's battery systems in underground mining machines. This partnership marks Proterra's entry into the underground mining equipment market, focusing on developing battery-electric load-haul-dump (LHD) machines, drills, and bolters. Proterra's high-performance H Series batteries will power prototype machines slated for commercial production in 2022. This collaboration follows a previous agreement where Proterra provided battery systems for Komatsu's excavators, reflecting both companies' commitment to sustainable mining solutions.
Proterra Inc (NASDAQ: PTRA) appointed Chris Bailey as president of its Proterra Powered and Energy business units, effective immediately. Bailey, previously Senior Vice President of Proterra Energy, takes over from Gareth Joyce, who was promoted to President of Proterra. With a strong background in business development, Bailey aims to enhance Proterra's role in providing electric vehicle technology to commercial manufacturers. Proterra Powered is focused on helping manufacturers electrify vehicles, while Proterra Energy provides comprehensive charging infrastructure solutions.
An electric school bus in Beverly, Massachusetts has successfully delivered power back to the grid for over 50 hours this summer. This initiative, led by National Grid (NYSE:NGG) in collaboration with Highland Electric Fleets, marks a significant milestone as the first instance of an electric school bus supporting the electricity grid via V2G technology in New England and one of the first in the U.S. The bus discharged nearly three megawatt-hours of stored electricity during 30 peak demand events, contributing to local energy efficiency and reducing reliance on fossil fuels.
Proterra, a leader in electric transit solutions, announced a significant milestone in Beverly, Massachusetts, where a Thomas Built electric school bus delivered nearly three megawatt-hours of electricity back to the grid for over 50 hours this summer. This initiative, in collaboration with Highland Electric Fleets and National Grid, marks one of the first instances of an electric school bus supporting the electricity grid in the U.S. The project exemplifies the potential of vehicle-to-grid (V2G) technology to enhance grid resilience and reduce reliance on fossil fuels.
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