Lightning Hybrids raises $2.3M in new funding

LOVELAND — Lightning Hybrids LLC has raised $2.3 million in new funding as the Loveland-based company continues to try and fuel growth.

The company disclosed the fundraising — a combination of equity and debt — in a recent filing with the U.S. Securities and Exchange Commission. Lightning Hybrids CEO Tim Reeser could not be reached for comment.

The filing indicated that the total offering amount was $4 million, meaning more money could be on the way.

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The new cash comes on the heels of a $2 million funding round last year.

Lightning Hybrids, 319 Cleveland Ave., makes hybrid systems for medium- and heavy-duty fleet vehicles. The company employs 44 people, mostly in Loveland.

The company has recently announced large orders from early customers, but spokeswoman Bonnie Trowbridge said she expects that a major announcement regarding a large brand’s fleet could come by mid-September.