In connection with John J. Carney’s selection by the SEC and appointment by the U.S. District Court in Connecticut to serve as Receiver of Michael Kenwood Capital Management, LLC, Steven H. Goldberg, Co-Chairman of the firm’s Transactions Practice Team and bankruptcy partner Marc E. Hirschfield, as well as New York corporate associates Stephen T. Olson and Jason D. Cabico represented the largest equity and debt holder of Proterra Inc in securing a $30 million investment from a syndicate led by Kleiner Perkins Caufield & Byers and including GM Ventures, Mitsui & Co., Ltd., Vision Ridge Partners and 88 Green Ventures, LLC.
The transaction closed on June 9, 2011.
Headquartered in Golden, Colorado, Proterra is a leading designer and manufacturer of heavy-duty, fast-charge battery electric commercial transit buses and automated charging system. “Electrification of public transportation has tremendous benefits to governments, municipalities and citizens by reducing the operating cost of transit, while also eliminating local air pollution and reducing C02 per passenger mile in the industry,” said Al Gore, former U.S. Vice President and Partner with Kleiner Perkins Caufield & Byers.