Thursday, 23 October 2014
Last updated 29 min 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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