Kansas City clean technology firm secures investment from Missouri Technology Corporation
KANSAS CITY, Mo., Sept. 29, 2015 – Orange EV, a terminal truck manufacturer based in Kansas City, today announced expansion of the company to meet growing demand for its electric vehicles. Driven by increased orders for the T-Series electric terminal truck the company will more than double with up to 15 people filling production and business management roles by the end of 2015. To accommodate the growth, Orange EV is moving to a larger facility, substantially increasing the space available to build its emission-free electric trucks.
Orange EV also announced a $150,000 investment by the Missouri Technology Corporation (“MTC”). “The matching equity investment from MTC, as part of our current round of fundraising, helps us provide additional near-term production capacity as our customers ramp up use of our electric trucks,” said Wayne Mathisen chief executive officer, Orange EV. “Our company is already bringing new technology jobs to the State of Missouri and we’re looking forward to continued growth.”
Terminal trucks are built to move trailers and containers within cargo yards and may be found at rail centers, distribution centers, warehouses, ports, parcel service centers, logistics hubs, and manufacturing sites. Fleets know these trucks, which normally run on diesel, by many names including: spotter, hostler, buggy, yard truck, goat, tractor, mule, shunt and shuttle. They can work around the clock and diesel-powered versions often only achieve 4-6 miles to the gallon. “Electric is a great solution for a terminal truck,” said Kurt Neutgens, chief technology officer, Orange EV. “The more you use them the more you save when replacing diesels with higher efficiency electric systems.”
In some markets Orange EV’s T-Series can be purchased for less than the cost of a new diesel. In all markets they cost significantly less to operate, saving on fuel, maintenance and more. To help encourage adoption of cleaner technologies, incentive programs have been established to help defray the cost of vehicles that help improve air quality in urban areas. For example Orange EV’s T-Series is the only terminal truck that qualifies for financial incentives through the Drive Clean Chicago. Operators can save $150,000 per truck in Chicago and its six counties: Cook, DuPage, Kane, Lake, McHenry and Will.
The market is clearly ready for zero-emission, electric trucks and Orange EV is the only company that offers a commercially available emission-free, pure electric truck that can meet the demands of moving heavy freight.
About Missouri Technology Corporation
Missouri Technology Corporation is a public-private partnership created by the Missouri General Assembly to promote entrepreneurship and foster the growth of new and emerging high-tech companies.
About Orange EV
Orange EV, based near Kansas City in Riverside, Mo. manufactures pure-electric, industrial-strength vehicles that are better for the earth, people and bottom line. The company offers solutions that meet the harsh demands of industrial environments, while lowering total cost of ownership. The T-Series pure electric terminal truck is Orange EV’s first offering. Orange EV is scheduling test drives and onsite customer demonstrations. To learn more contact Orange EV at Sales@OrangeEV.com or call 866-688-5223, Ext. 702. Or visit the company’s website at www.orangeev.com.