Electric truck manufacturer, Harbinger is just one startup to take advantage of equipment financing to enable it to scale, by partnering with ATEL Ventures.
SAN FRANCISCO, July 8, 2024 /PRNewswire-PRWeb/ -- , a division of and a provider of venture debt and equipment financing solutions to growth-stage companies, has announced an agreement to provide equipment financing to , a Southern California-based manufacturer of electric trucks, to enable the company to expand its manufacturing capacity.
Harbinger is focused on meeting the demand for medium-duty electric vehicles (EVs) with a first-of-its-kind vertically integrated EV platform designed to deliver improvements in safety, driver experience and vehicle operation.
"More and more commercial fleet operators are turning to EVs, and Harbinger provides a solution with zero price acquisition premium over gas or diesel-powered vehicles," said Steven Rea, President, ATEL Ventures, Inc. "The future is electric and while other manufacturers are busy electrifying older vehicles, we believe Harbinger's ground-up solution will emerge as a leader in this sector."
John Harris, CEO and Co-Founder of Harbinger said: "We have received 4,000 orders from customers including , , and more. The financing provided by ATEL Ventures will help us expand our manufacturing capabilities."
Alongside the debt financing by ATEL Ventures, Harbinger has attracted over $100M of venture investment from , , , and others, including an oversubscribed $73M Series A round.
About ATEL Ventures, Inc
ATEL Ventures, a division of ATEL Capital Group, is a leading provider of venture debt and equipment financing to emerging growth companies. The company is a primary source of non-dilutive capital across the landscape of venture capital investments. ATEL Ventures is industry- and stage-agnostic, having provided capital to companies in Information Technology, Life Sciences, Energy, Agriculture, Material Sciences, and Consumer Products and Services. For more information, visit: or email Steven Rea: [email protected]
About Harbinger
is a commercial electric vehicle (EV) company on a mission to transform an industry starving for innovation. Harbinger's best-in-class team of EV, battery, and drivetrain experts have pooled their deep experience to support the growing demand for medium-duty EVs. Leveraging a foundation of proprietary, in-house developed vehicle technologies designed specifically for commercial and specialty vehicle applications, Harbinger is bringing a first-of-its-kind EV platform to market, priced at parity to gasoline and diesel vehicles. Harbinger: familiar form, revolutionary foundation.
Media Contact:
ATEL Ventures: Jon Meakin | Coldharbour Communications
T +1 (917) 624-3227 | E [email protected]
Harbinger: Kylee Keskerian | Futurista Communications
T +1 (419) 822-6417 | E [email protected]
SOURCE ATEL Ventures, Inc.
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