LAND Closes a Major Investment Milestone with Fenix Equity Partners to Scale US Production

CLEVELAND, Could 24, 2022 /PRNewswire/ — LAND, the electrical automobile producer, has closed their A1 funding spherical with Fenix Fairness Companions. This funding spherical is permitting LAND to scale US manufacturing, herald prime expertise within the EV area, broaden their IOT platform and manufacturing footprint in Cleveland, Ohio.

Scott Colosimo, founder and CEO of LAND, states, “Now we have been working with Andrew Sloop and his workforce at Fenix over the past a number of months to put out a strong development plan for LAND. Fenix took the lead on this present spherical and has dedicated to following us in our A2 spherical, which exhibits their dedication to scaling with our firm.” 

LAND’s focus is product first, scaling whereas producing autos and batteries. This A1 spherical will assist LAND produce its linked battery platform and push manufacturing faster as they scale.  

LAND is within the technique of outfitting 12,000 sq ft of their present Cleveland manufacturing unit to satisfy rising demand for each their batteries and electrical autos. LAND has additionally entered right into a contract to broaden their US headquarters in Cleveland’s Tech District, with an extra +40,000 sq ft of producing area, a brand new tech and expertise middle within the coronary heart of Cleveland, Ohio.

About Fenix Fairness Companions:
The mixed Fenix administration workforce has executed home and worldwide transactions and acquisitions totaling greater than $2.7 billion USD with senior government expertise inside private and non-private corporations. The Fenix working workforce has a confirmed observe file of driving integration and synergies throughout acquisitions to extend working revenue post-transaction.

About LAND Vitality:
LAND is an electrical automobile producer primarily based in Cleveland, OH. Based in 2020 by Scott Colosimo and his workforce, LAND relies on the precept that vitality continuity and mobility are important to fashionable life. LAND gives a transitional E Moto ecosystem with a hot-swap energy platform (CORE), a revolution within the electrical automobile trade. With merchandise proudly manufactured in america, LAND is unwavering in its faithfulness to American innovation and world-class craftsmanship. As a design-forward firm, LAND is devoted to consistently evolving to satisfy the wants of their prospects and the ever-changing trade. For extra info, go to: https://landenergy.io/

CONTACT: Scott Colosimo, LAND, 216-712-2613, [email protected]

SOURCE LAND Vitality