Brammo Grabs $28M For Electric Motorcycles

Electric Car News | admin | October 28, 2011 at 1:58 am

The Oregon-based designer and manufacturer of electric motorcycles Brammo Inc. said Wednesday it has completed a $28 million Series B stock sale led by Polaris Industries that included existing shareholder Alpine Energy and new shareholder NorthPort Investments LLC of Northfield.

Polaris, a recognized leader in the powersports industry joins the team as a key strategic partner for Brammo, bringing opportunities to broaden the range of markets for Brammo Electric Vehicle (EV) drivetrain technology and expertise.

The foundation of Brammo’s success lies in its innovative battery and power-train technology, which is integral to its expanding product line. In the past four years, Brammo has developed several models: Enertia, an urban commuter bike; Empulse, a sports motorcycle; and Engage and Encite, off-road motorcycles.

The Enertia bikes are built in Sarvar, Hungary, and Brammo Power battery pack production soon will begin at Frickenhausen, Germany.

The latest round of funding allows Brammo to boost research and development activity at the Ashland headquarters, while growing production near prime European and Asian sales markets.