Wednesday, 7 October 2015
Last updated 10 hours ago
Jan 30 2009 | 11:13am ET
Fisher Coachworks, a Troy, Michigan-based company, has raised $3.2 million from 10 unnamed investors in a $4.25 million Series A fundraising push to develop its hybrid-electric buses, according to a regulatory filing.
Fisher will put $200,000 of the money raised toward salaries and fees and another $500,000 toward machinery purchases, according to the filing.
Fisher’s first bus model is the GTB-40, a 40-foot serial drive hybrid the company says is half the weight of its rivals and twice as fuel efficient. The bus is comparatively lightweight thanks to Nitronic, a stiffer alloy of stainless steel made by the AK Steel Co.
The GTB-40 successfully completed DOE load-test requirements last September and will now undergo tests for braking, suspension durability, bumper protection, passenger safety and overall maintainability.
Fisher says it expects to begin assembly operations this year.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…