Orange EV closed the $35 million institutional financing round that S2G Ventures and CCI jointly led to help expedite the leaders in EV trucking’s innovation and growth strategies.
A $35 Million Investment
As fuel prices continue to climb, there is an increasing need to speed up the transition to electric vehicles on a big scale. For businesses, Orange EV trucks are more dependable, safe, and economical. Orange EV, the heavy-duty zero-emission truck manufacturer, thus announced its $35 million institutional funding round led by S2G Ventures and CCI, a Henry Crown and Company subsidiary, to help encourage and hasten the company’s growth.
The Mission Behind The Investment
With the funding, Orange EV will be able to expand its production. Also, with the rapid increase in demand, offering market-leading vehicles in new areas and developing new technologies will solidify the company’s position as the industry’s top supplier of Class 8 commercial vehicles.Â
Orange EV will also be able to increase the scope of its impact by continuous production investment to fulfill the demand beyond its current facilities, which further improves the customers’ operations while delivering considerable savings.
About Orange EV
Orange EV was the first manufacturer in the country to offer fully electric Class 8 vehicles that could be scaled up and used commercially. Additionally, it is a top OEM offering heavy-duty electric vehicle solutions to industrial fleets. Over 130 fleets in 28 states, Canada, and the Caribbean have chosen Orange EV’s terminal trucks during its tenth year of operation.
About S2G Ventures
S2G Ventures is committed to making investments in a kinder and healthier world. S2G collaborates with visionaries who develop cutting-edge, market-based solutions to the most pressing problems facing the food, agricultural, seas, and renewable energy sectors.
About CCI
CCI is a holding company for the Crown family with headquarters in Chicago and is a Henry Crown and Company subsidiary. CCI finances companies committed to environmental sustainability through late-stage venture and growth equity investments.
