What they do & why the LACI Cleantech Debt Fund invested
Evolectric specializes in electric transportation and battery solutions, working to transform diesel trucks into electric vehicles, thereby extending the life of the trucks and reducing future CO2 emissions.
Capital from the LACI Cleantech Debt Fund will act as working capital to support inventory and payroll.
The LACI Cleantech Debt Fund, supported by Mission Driven Finance in loan servicing and underwriting, invests in companies working on solving challenges related to climate change.
The first deal in this new participation structure, Evolectric came to the LACI Cleantech Debt Fund from the Los Angeles Cleantech Incubator (LACI).