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Electric bike company nets $12.5M investment

By: Nathalie Weinstein//September 23, 2010//

Electric bike company nets $12.5M investment

Nathalie Weinstein//September 23, 2010//

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(Photo courtesy of Brammo)
Ashland electric motorcycle company Brammo has raised an additional $12.5 million in financing and attracted two new investors. (Photo courtesy of Brammo)

The all-electric motorcycles made at ‘s Ashland production facility aren’t the only things speeding ahead this week.

The company has raised an additional $12.5 million in financing and attracted two new investors to its Oregon-grown electric motorcycle business. After signing a deal with Singapore-based electronics manufacturer earlier this month, Brammo CEO Craig Bramscher said his company is poised to go global. While one of its new investors preferred to remain anonymous, the other is Oklahoma-based oil and gas company Alpine.

“The interest in our new bike, the Empulse, has made it clear there’s demand,” Bramscher said. “Our deal with Flextronics to go global with our supply chain was super critical and this latest round of financing takes us from a product to a company with multiple products that can be distributed globally.”

The eight-year-old electric motorcycle company only needs $17.5 million more in investments to start turning a profit, Bramscher said. Though he expected for Brammo to reach profitability in 2012, now it looks like it will happen in 2010, with manufacturing operations in the U.S., Europe and Asia starting to churn out bikes by 2011.

Brammo’s newest motorcycle, the Empulse, is 100 percent electric and will be compatible with the many new electric vehicle chargers being installed around the state. Though the company will probably never make electric cars because of the high costs involved, Bramscher said his company could supply its components to other electric car companies in the future.



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