SEA Electric to Expedite Global Expansion of Proprietary Commercial Electric Vehicle Technology - SEA-Drive(R)
LOS ANGELES, March 10 (Bernama-GLOBE NEWSWIRE) -- Following substantial growth in new markets, global automotive technology company SEA Electric Holdings Pty Ltd. (SEA Electric), announced it has closed initial private placement equity financing for total gross proceeds of approximately US$42 million. The net proceeds from the investment will allow SEA Electric to solidify its position as a market leader in the electrification of commercial vehicles whilst funding its considerable backlog and facilitating more pilot programs with operators.
(Please download this press release and HIGH RESOLUTION versions of SEA Electric images and other supporting editorial assets: https://www.dropbox.com/sh/2shmc8051lw62hv/AACViAedt5BIsrAjlI6XAXgha?dl=0 )
With a global headquarters and key leadership in Los Angeles, SEA Electric currently has operations in five countries and more than one million miles of independent Original Equipment Manufacturer (“OEM”) testing and in-service operation in all markets.
President and Founder Tony Fairweather stated, “We are very pleased to have completed a heavily oversubscribed equity financing and are excited to welcome aboard a global set of institutional investors as partners. The financing allows SEA Electric to accelerate our sales efforts and grow our backlog as we explore options to seek a public listing in the United States this year.”
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