Lightning Systems raises $41M

LOVELAND — In an effort to ramp up production of its electric powertrains, Lightning Systems closed a $41 million fundraising round Tuesday morning, more than four times its previous total funding haul. 

In a press release, the Loveland electric vehicles company formerly known as Lightning Hybrids Inc. raised the funds in a combined equity, debt and working capital offering. The round was led by BP Ventures, the venture capital arm of British oil giant BP plc (NYSE: BP) and previous investors, along with a new contribution from Greenwood Village-based private equity firm Cupola Infrastructure Income Fund LLLP.