Zero Motorcycles Scores Another Local Grant

09/28/2010 @ 6:27 pm, by Jensen Beeler2 COMMENTS

Zero Motorcycles may not be amassing as large of a war chest as Brammo, but the Santa Cruz company is getting a lot of free money and help from its local governments. Scoring a $177,906 grant (free, as in beer, money) from the Monterey Bay Unified Air Pollution Control District (MBUAPCD), Zero intends to use the money to continue its R&D efforts in developing its drivetrain components. This money will be added to the $900,000 grant that the California Energy Commission gave Zero last much, whose funds were then matched by the City of Santa Cruz and other investors.

With this announcement, Zero’s latest financing run cracks the $2 million barrier, totaling $2,018,000 in what is mostly grant money. This series of investment is in addition the the $5.5 million in Series A money that Zero raised earlier in the year.

“Our intention with this new powertrain development program is to continue advancements in the powersports industry while supporting the local economy and this additional boost brings us much closer to reaching our goals,” said Gene Banman, CEO of Zero Motorcycles. The County and Cities involvement in granting money to Zero is primarily driven with the goal of keeping and creating jobs in the Santa Cruz County area. Zero hasn’t announced how many jobs it plans on creating in the area, but our sources tell us the company has been scouting larger facilities near its Scotts Valley office.

Source: Zero Motorcycles