Think Global, the manufacturer of the TH!NK electric city car, has completed a private placement of approximately $60 million. Combined with the $25 million raised earlier this year, the company has a financial base of $85 million.
Among the biggest of the new investors are DFJ Element and RockPort Capital Partners. In addition to these, British Hazel Capital LLP and CG Holding (Atle Brynestad) are also new investors in Think Global.
Current owners Canica, Capricorn Investment Group and Wintergreen Advisers also participated in this round.
We are convinced that the company will succeed with its environmentally friendly car concept and this is why we consider it to be a good investment for us.—Atle Brynestad
CG Holding has ordered 10 TH!NK city vehicles to be used in the company, and may extend the order.
Think Global will begin production of the EV in the fall of 2007, with production estimated to reach 250 cars a month within one year.