Alternative Energy

Grand Avenue Capital was engaged by AC Propulsion a private, closely-held US independent technology company that is considered a pioneer in the electric-drive / alternative energy vehicle industry. The Company sought a $35 million equity infusion for its US and China capital program to satisfy growth in customer demand. As early as 1994, the Company produced the drive train and related components for a 200 hp all-electric car that attained a 0-60 performance in less than 6 seconds, later licensing the same technology to the electric sports car company Tesla Motors which has successfully listed in mid-2010. The Company also provided the drive trains and battery packs to 600 BMW Mini-E’s in 2008. The Company produces electric vehicle components and provides engineering services and technology licenses to automotive clients throughout the world. The Company does not produce, nor does it intend to produce, its own branded vehicle. AC Propulsion owns a number of patents on electric vehicle technology, many of which have been customized for the Company’s technology and automotive customers. Since the Company was founded over 30 prototype test vehicles have accumulated more than one million miles of on-road use. The company operates a wholly owned subsidiary in Shanghai that manufactures the principal drive system components with final assembly and testing completed in California. A new manufacturing facility is under development in Beijing which will focus on the Company’s substantial customer pipeline of opportunities in the PRC.