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 Inc (Nasdaq: PTRA) announced the Redemption Fair Market Value of $9.8542 for its outstanding warrants, which will determine share issuance on a cashless exercise. Holders can receive 0.253 shares of Common Stock per warrant. The redemption entails all public and private placement warrants, and any unexercised warrants after the October 27, 2021 deadline will become void, with holders receiving only $0.10 per warrant. Proterra's press release emphasizes this as part of its ongoing commitment to transparency with warrant holders.
Proterra Inc (NASDAQ: PTRA) announces a significant procurement agreement with Capital Metro in Austin, Texas, for 26 Proterra ZX5 Max electric transit buses, set for delivery in 2022. This plan includes options for up to 126 additional buses and EV charging infrastructure over five years, marking one of North America's largest battery-electric transit bus acquisitions. The ZX5 Max features 675 kWh of battery storage, enabling a range of up to 329 miles on a single charge. This procurement reflects Capital Metro's commitment to transitioning to a zero-emission fleet of over 400 vehicles.
Proterra Inc (Nasdaq: PTRA) announced plans to redeem all outstanding Public and Private Placement Warrants for a price of $0.10 each. The redemption targets warrants following the achievement of a minimum stock price of $10.00 for 20 trading days prior to the notice. Holders can exercise warrants until 5:00 p.m. NYC time on October 27, 2021, with options for cash or cashless transactions, subject to specific terms. Any unexercised warrants post-deadline will be voided. The company’s common stock is registered under the Securities Act of 1933.
Proterra Inc (NASDAQ: PTRA) has announced significant changes to its executive leadership. Gareth Joyce, previously President of Proterra's Powered and Energy divisions, has been promoted to President of the entire company. He will collaborate with CEO Jack Allen to drive growth strategies. Chief Financial Officer Amy Ard will depart after a transition period, with A.J. Cederoth named Interim CFO. Ard's departure is not due to disagreements over financial reporting. Proterra is actively searching for a permanent CFO while continuing to capitalize on the growing demand for electric vehicles.
Proterra has finalized a significant agreement with LG Energy Solution to secure a long-term supply of U.S.-manufactured cylindrical battery cells for commercial electric vehicles. The commitment includes a low nine-figure dollar upfront investment and multiple gigawatt hours of capacity annually, enhancing Proterra's manufacturing capabilities for USMCA-compliant battery systems. This partnership extends their existing supply agreement through 2024, ensuring a stable supply of batteries through 2028. Proterra aims to meet the growing demand for zero-emission vehicles, reinforcing its position in the market.
Proterra Inc (NASDAQ: PTRA) has announced its second-quarter 2021 financial results on August 11, 2021, now available on its Investor Relations website. The company specializes in designing and manufacturing zero-emission electric transit vehicles, showcasing its commitment to sustainability and innovation in the EV sector. A conference call to discuss these financial results will take place at 2:00 PM PDT on the same day, with a live audio webcast accessible on their website.
Proterra Inc (Nasdaq: PTRA) will release its Q2 2021 financial results after market close on August 11, 2021. A conference call to discuss these results will take place at 2:00 PM PDT on the same day, with a live audio webcast accessible via Proterra’s Investor Relations website.
Proterra specializes in zero-emission electric transit vehicles and EV technology solutions, backed by rigorous independent testing that highlights its products' durability and efficiency. The company's operations are based in Silicon Valley, South Carolina, and Los Angeles.
Proterra Inc (NASDAQ: PTRA) has partnered with Taylor Machine Works to equip Taylor's next-generation ZLC-series electric container handler and ZH-series forklift with Proterra's advanced battery technology. The ZLC-series is the world's first zero-emission top handler, designed for heavy-duty material handling in port environments and industrial settings. Deliveries are expected to start in 2022, marking Proterra's entry into the heavy-duty equipment market. Both companies aim to enhance electrification solutions, ensuring zero-emission standards are met in demanding operational conditions.
ROUSH CleanTech, in collaboration with Proterra and Penske Truck Leasing, announced the development of the all-electric Ford F-650 commercial truck, powered by Proterra’s advanced battery technology. The vehicle, capable of 125 miles on a single charge, will support various applications including utility and shuttle services. ROUSH CleanTech plans to deliver the first units to Penske in Q2 2023. This partnership aims to facilitate fleet electrification and offer robust support for the transition to cleaner transportation.
Proterra Inc (NASDAQ: PTRA) announced that 10 transit agencies have received Federal Transit Administration (FTA) Low or No Emission Program Grants to acquire Proterra electric transit buses and charging infrastructure. This marks the sixth consecutive year that FTA has awarded such grants under the FAST Act, highlighting Proterra's commitment to zero-emission transportation. The company's electric buses save approximately 230,000 pounds of greenhouse gases annually and have displaced over 100 million pounds of CO2 emissions. Proterra's battery systems power over 650 vehicles with more than 20 million service miles.
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