EcoRide bus (Proterra Inc.)
Proterra Inc. in Greenville, South Carolina, a developer of electric buses for public transportation, secured $23 million in series B funds, the second round of venture financing after initial start-up. New investor Hennessey Capital led the round, with new investor NMT Capital, and current investors Kleiner Perkins Caufield & Byers, GM Ventures, Mitsui & Co. Global Investment Inc., 88 Green Ventures, and Vision Ridge Partners.
Proterra designs and manufactures battery-powered buses for the U.S. public transportation market. The company develops electric drive, energy storage, and vehicle control systems for buses, as well as fast battery-charging stations for its buses.
The proceeds from the financing are expected to support development of Proterra’s EcoRide line, which are 35-foot composite body transit buses that run on electric power from onboard batteries. The company says the composite body frame is 20 to 40 percent lighter than conventional bus bodies, yet still resistant to routine road hazards, such as crashes and ice-melting street salt.
EcoRide buses use Proterra’s TerraVolt battery system that provides high voltage power to the traction motor and accessories in the vehicle such as power steering, radiator, and HVAC. The design of the system, says the company, enables the battery to be placed beneath a low floor transit bus and still comply with American Public Transit Association bus standards.
The TerraVolt system can be recharged with Proterra’s bus charging stations that can replenish the bus’s battery in five to ten minutes. The bus can recharge at the station without human intervention, which makes it suitable for layovers or driver break periods. The company says the quick charging features require a high-performance connection to the power grid, but can be reconfigured to make lower demands on the power grid. EcoRide buses have fuel cells for auxiliary power, but can be converted to diesel, propane, compressed natural gas, or gasoline for back-up power.
In 2010, Proterra moved its R&D and manufacturing facilities from Colorado to South Carolina to colocate at Clemson University’s International Center for Automotive Research in Greenville. The center conducts research on vehicle powertrains, human factors, materials, and manufacturing.
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