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Missoula’s electric bus provider planning IPO

Posted at 9:18 AM, Jul 06, 2019
and last updated 2019-07-06 11:18:26-04

MISSOULA – Missoula transit passengers will start rolling in electric buses later this year when Mountain Line starts adding the high tech coaches to its fleet.

Now, word comes you may be able to buy stock in the near future in the company that’s providing those buses.

It was five years ago this summer that Proterra brought one if its first prototype electric buses to Missoula for a demonstration, showcasing the emerging technology as an alternative to the standard diesel-powered buses.

The demo worked, as the University of Montana added a pair of electric buses a couple of years later. And Mountain Line secured a “Low-No Emissions” grant from the federal government to add six of the electric coaches to its fleet.

Now, is reporting that Proterra has hired investment banks to help the company begin developing an initial public offering.

The report quotes sources as saying Proterra has turned to JPMorgan Chase and Company, Morgan Stanley and Deutsche Bank AG for the IPO, which might still be issued this year.

Proterra has several executives who have worked with Tesla and was valued at more than $800 million last year. It was initially thought Mountain Line’s first electric bus should be delivered before the end of the year.