Orange EV has secured a $100 million revolving credit facility led by Wells Fargo Bank, a senior secured facility designed to strengthen the company’s balance sheet and increase liquidity for working capital and business expansion. The financing supports the Kansas City-based manufacturer’s core business of producing fully electric terminal trucks for ports, rail yards, and logistics facilities across North America, while also accelerating growth in its rental and leasing platform. Wells Fargo indicated the credit facility aligns with Orange EV’s growth strategy as the company scales its manufacturing and infrastructure operations.
A significant portion of the new capital will be directed toward OptiGrid, Orange EV’s subsidiary developing battery-integrated fast-charging solutions. OptiGrid’s technology addresses a primary obstacle to commercial fleet electrification: limited utility capacity for new charging infrastructure. Traditional projects often require expensive grid upgrades and construction timelines stretching months or years, delaying adoption. OptiGrid’s battery-integrated approach aims to compress deployment to days or weeks, reducing infrastructure barriers for fleets. The company is also ramping production of its Orange Juicer charger, a system designed to support electric vehicles across multiple commercial applications beyond terminal trucks, broadening Orange EV’s addressable market within the electrification infrastructure sector.
Orange EV reports it has tripled production during its current growth period, targeting a market share of one in four newly purchased or leased yard trucks. Recent commercial momentum includes an order for 40 trucks from APM Terminals in California, the deployment of its 2,000th electric terminal truck, and a single purchase order for 600 units. Chief Executive Kurt Neutgens stated the expanded liquidity will support record growth across production expansion, rental services, and rising charger demand, providing flexibility to respond faster to customer requirements and manage working capital needs.
The company’s vehicles have accumulated more than 36 million operational miles across 43 U.S. states, Canada, and the Caribbean. Manufactured in Kansas City, Kansas, the terminal trucks are purpose-built for repetitive industrial yard operations, differentiating Orange EV from manufacturers targeting broader commercial vehicle categories. By combining vehicles, charging systems, and on-site service, the company offers a comprehensive electrification package. The new credit facility arrives as businesses continue investing heavily in fleet electrification, and the reduction of infrastructure deployment delays stands to make electric fleet adoption more practical for industrial operators throughout the region.
