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Proterra, which makes big honkin battery systems and electric buses, raises $200 million

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3 months ago

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Proterra, the battery system technology developer for heavy-duty electric vehicles, said it has raised $200 million in a new round of funding.

The new cash comes from Cowen Sustainable Investment Advisors, which led the round, along with money from Soros Fund Management, Generation Investment Management and Broadscale Group.

Cowen took the bulk of the round with $150 million while Soros, Generation and Broadscale forked over another $50 million.

This new capital infusion follows a year’s worth of speculation about a potential public offering for the big honkin battery systems developer. TechCrunch last reported in August 2019 that Proterra had hit a $1 billion valuation according to investors and would be seeking a potential IPO at the time.

The company said the new money would go to support the company’s ongoing research and development efforst into battery and electric drivetrain technologies and business development to increase the company’s footprint in additional commercial vehicle segments.

Proterra’s also looking at charging and energy management technology development to lower fleet management costs associated with operating electric fleets.

To date, Proterra has raised equity and debt totaling at least roughly $1 billion from investors including G2VP, Kleiner Perkins Caufield & Byers, Constellation Ventures, Mitsui & Co. as well as BMW i Ventures, Edison Energy, the Federal Transportation Administration, General Motors’s venture arm and Tao Capital Partners .

Proterra, mainly makes buses for local, state and federal agencies that can travel 350 miles on a single charge. The Burlingame, Calif. company, which has a number of former Tesla employees in leadership positions, including the company’s former chief executive Ryan Popple, has also diversified its business to provide its power trains to other heavy- and medium-duty commercial electric vehicle manufacturers.

The company is now working with OEMs like Thomas Built Bus, Van Hool, FCCC, BusTech and Optimal-EV to bring 100% battery-electric vehicles powered by its technology to market, the company said in a statement.

“As demand grows for battery-electric vehicles and 100% zero-emission fleets, we are excited to collaborate with CSI as well as our other investors to accelerate the transition to clean, quiet transportation for all and deliver even more Proterra Powered vehicles around the world,” said Jack Allen, Proterra’s current chairman and chief executive.

BofA Securities acted as sole placement agent on this transaction.

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Keep That Hotdish Hot With 65% Off a Luncia Casserole Carrier, Only $11 With Promo Code

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1 month ago

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December 22, 2020

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Luncia Double-Decker Dish Carrier | $11 | Amazon | Promo code SDDU9S7F

It has been a long time since the days we could safely have a potluck or other gatherings, but we have a fantastic deal perfect for once those times return. These double-decker Luncia dish carriers can be had for 65% off when you add promo code SDDU9S7F at checkout and clip the coupon on the site (it’s just below the price). These holders fit 9″x 13″ sized baking dishes.

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That means you can insulate and keep two dishes of food warm for only $11 instead of $30. What’s more, your Luncia carrier will arrive by Christmas if you order today as a Prime member.

Just add promo code SDDU9S7F and clip the 5% off coupon to bring the price down to $11 for the blue or the grey option.

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Grab this offer while it’s still around!

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Conquer Your Pup’s Dander and Fur With $700 Off a Cobalt or Charcoal Bobsweep PetHair Plus Robot Vacuum

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3 months ago

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November 1, 2020

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Bobsweep PetHair Plus Robot Vacuum & Mop (Cobalt) | $200 | Best Buy

Bobsweep PetHair Plus Robot Vacuum & Mop (Charcoal) | $200 | Best Buy

Allergies can be bad enough as the seasons change. Don’t let pet hair and dander add to that by vacuuming it up early and often. That chore is easier said than done— unless you have a robot vacuum to do the work for you. This lovely bright cobalt Bobsweep PetHair Plus robot vacuum and mop, only $200 today at Best Buy seems like an ideal option. That’s a whopping $700 off, by the way.

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You can get the same deal for the charcoal version of the robot vac, too. This model is not only specially made for picking up pet hair, it self docks and charges when it’s finished with the work.

It also comes with a mop attachment, so it can take care of those kitchen floors for you as well. Grab it while it’s still available for this fantastic price!

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Apple will replace AirPods Pro for free with faulty noise cancellation, static or crackling

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3 months ago

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November 1, 2020

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Today, exactly one year after Apple first launched the AirPods Pro — and thus the same day the very first AirPods Pro owners will see their one-year warranties expire — Apple has launched a repair program that offers free repairs or replacements for another whole year if your AirPods Pro experience issues with noise cancellation or static.

Specifically, Apple will fix:

Crackling or static sounds that increase in loud environments, with exercise or while talking on the phone

Active Noise Cancellation not working as expected, such as a loss of bass sound, or an increase in background sounds, such as street or airplane noise

Apple says only a “small percentage of AirPods Pro” are affected by the issues, but it apparently wasn’t just an early batch — Apple says affected units were manufactured “before October 2020,” meaning every AirPods Pro ever made might be eligible. That’s quite a recall if so. Apple says it will repair faulty AirPods Pro for two years after you first buy them.

We’ve heard complaints about degraded noise cancellation before, and at least one Verge editor has replaced their AirPods Pro under warranty. It’s nice to hear that Apple isn’t just cutting buyers off as soon as that warranty expires.

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