Excerpt:
http://green.autoblog.com/2009/07/28/coda-automotive-gets-new-investment-from-henry-paulson-piper-ja/
Excerpt:
As Coda Automotive continues its long march toward eventual production of its new EV sedan a year from now, one of things it will need is cash. Plenty of it. The company has beefed up its cash position with the closing of a Series B funding round that adds $24 million to its coffers. Heading up the list of investors are some familiar names – but not necessarily ones that we often associate with the car business. Joining Coda executives and board members Miles Rubin, Steven Heller and Kevin Czinger are newcomers Thomas "Mack" McLarty and Henry Paulsen. Paulsen may best be remembered as the last Treasury Secretary under George W. Bush who led the drive for a nearly trillion dollar bailout of the financial services business last fall. McLarty was the White Chief of Staff under Bill Clinton. Also joining the investor group is investment bank Piper Jaffray and venture capital fund Angeleno Group. The full press release is after the jump.
http://en.wikipedia.org/wiki/Coda_Automotive
Excerpt:
Financial History & Investors
On January 6, 2011 CODA announced the first close of a US$76 million Series D investment round, bringing the company’s “total invested capital” to more than US$200 million[19]. Lio Energy Systems, CODA's joint venture with Lishen, is funded by a US$100 million equity investment by the partners and has entered into “cooperation agreements” for “up to US$327 million of long-term credit.”[20]
CODA’s investors include:
Silicon Valley networking organization AlwaysOn selected CODA as one of the top privately held companies focused on green technology in its GoingGreen 100 list for 2010.[24]
Dr. Thomas Cardello
Thomas is a partner of Sunrise Capital, an institutional fund manager. With over 25 years in quantitative finance and with his background in physics, Thomas is currently developing renewable and hybrid conventional/renewable energy generation projects. Formerly an Advisory Director at Morgan Stanley, his current board affiliations are with Chalkstream Capital, Venice Energy and the Kurt Forrest Foundation.
Kevin Czinger, Senior Strategic Advisor
Kevin previously served as the President and CEO of CODA Automotive. He oversaw the management and strategic direction of the company. Throughout his career, Kevin has maintained a proven track record of performance operating start-up and growth companies. Prior to CODA, Kevin was a Partner and Managing Director at Fortress Private Equity, an alternative asset management firm, and an Entrepreneur in Residence at Benchmark Capital.
Woo C. Lee
Woo leads JL Thornton & Company’s operations in Asia. He has spent more than two decades in Asia in business and as a U.S. diplomat at American embassies in China, Japan, Australia and Southeast Asia.
Paul W. Hobby, Board Member
As the managing partner of Genesis Park, L.P., Mr Hobby has long involvement in execution and management of technology investments focused around energy, telecommunications and media. He also has broad experience as a public company director, serving in that capacity for leading public companies such as NRG, Stewart Title, EGL Worldwide, Amegy Bank, Coastal Banc and others for over twenty years. Mr. Hobby is a graduate of the University of Virginia and the University of Texas School of Law and is active in public service in Texas.
Thomas R. McDaniel
Prior to retirement, Tom was the Executive Vice President, Chief Financial Officer and Treasurer of Edison International where he worked for 37 years. He is currently a Director of SunPower Corp., SemGroup, LP, Cypress Envirosystems, and the Senior Care Action Network.
Thomas "Mack" McLarty
Mack is the Former Chief of Staff for President Clinton. He is now President of McLarty Associates, a Washington DC-based consulting company, and CEO of McLarty Companies, a national automotive retailer based in Little Rock, Arkansas.
Henry M. Paulson, Jr.
Henry served as U.S. Secretary of the Treasury under President George W. Bush and led the U.S.-China Strategic and Economic Dialogue. He is a strong advocate for conservation in the U.S. and China, and for immediate action to decrease the effects of climate change. Prior to serving as Treasury Secretary, he led Goldman Sachs as Chairman and Chief Executive Officer.
Dr. Michael Wang
Michael is Manager of the Systems Assessment Section of the Center for Transportation Research at Argonne Labs. He also serves as a Senior Advisor to the Chinese government on new vehicle technology and alternative energy production.
http://green.autoblog.com/2009/07/28/coda-automotive-gets-new-investment-from-henry-paulson-piper-ja/
Excerpt:
Coda Automotive gets new investment from Henry Paulson, Piper Jaffray
Coda sedan - Click above for high res image gallery
As Coda Automotive continues its long march toward eventual production of its new EV sedan a year from now, one of things it will need is cash. Plenty of it. The company has beefed up its cash position with the closing of a Series B funding round that adds $24 million to its coffers. Heading up the list of investors are some familiar names – but not necessarily ones that we often associate with the car business. Joining Coda executives and board members Miles Rubin, Steven Heller and Kevin Czinger are newcomers Thomas "Mack" McLarty and Henry Paulsen. Paulsen may best be remembered as the last Treasury Secretary under George W. Bush who led the drive for a nearly trillion dollar bailout of the financial services business last fall. McLarty was the White Chief of Staff under Bill Clinton. Also joining the investor group is investment bank Piper Jaffray and venture capital fund Angeleno Group. The full press release is after the jump.
http://en.wikipedia.org/wiki/Coda_Automotive
Excerpt:
Financial History & Investors
On January 6, 2011 CODA announced the first close of a US$76 million Series D investment round, bringing the company’s “total invested capital” to more than US$200 million[19]. Lio Energy Systems, CODA's joint venture with Lishen, is funded by a US$100 million equity investment by the partners and has entered into “cooperation agreements” for “up to US$327 million of long-term credit.”[20]
CODA’s investors include:
- Aeris CAPITAL – a private Swiss investment office
- Harbinger Capital Partners - private hedge fund based in New York City, New York.
- Riverstone Holdings - a private equity firm based in New York City, New York.
- Piper Jaffray - a U.S. middle-market investment banking firm based in Minneapolis, Minnesota
- Angeleno Group – a Los Angeles based private equity firm
- EDB Investments (EDBI) – an investment firm headquartered in Singapore
- Countyline LLC – an investment entity owned by Tony Pritzker and J.B. Pritzker
- Miles L. Rubin – Founder and Chairman Emeritus of CODA Automotive; former CEO of Detroit Iron & Steel Industries, Reliance Manufacturing, Puritan Fashions Corp. and Polo Ralph Lauren Jeanswear
- Steven “Mac” Heller – Executive Chairman of CODA Automotive; former Goldman Sachs Head of Mergers & Acquisitions, Worldwide and Co-Head of the Investment Banking Division
- Tom Steyer – Managing Director of Hellman & Friedman, a San Francisco private equity firm; Founder, Co-Managing Partner and Chief Investment Officer of Farallon Capital; member of the Board of Trustees of Stanford University
- Les Wexner – Chairman and CEO of Limited Brands
- Henry "Hank" Paulson - former U.S. Secretary of the Treasury, former Chairman and CEO of Goldman Sachs and special representative of the U.S.-China Strategic Economic Dialogue
- Mack McLarty – (Thomas "Mack" McLarty) Former Chief of Staff for President Bill Clinton, President of McLarty Associates and McLarty Companies, a transportation business based in Little Rock, Arkansas
- Kevin Czinger - Senior Strategic Advisor, CODA Automotive; Former President and CEO at CODA Automotive, executive at Global Signal, Webvan Group, Bertelsmann AG, and Goldman Sachs
[edit] Board of Directors[21]
- Miles L. Rubin - Founder and Chairman Emeritus, CODA Automotive; former CEO of Detroit Iron & Steel Industries, Reliance Manufacturing, Puritan Fashions Corp. and Polo Ralph Lauren Jeanswear
- Steven “Mac” Heller - Executive Chairman, CODA Automotive; former Goldman Sachs Head of Mergers & Acquisitions, Worldwide and Co-Head of the Investment Banking Division
- Alan Chesick - Acting Legal Advisor of CODA Automotive, former general counsel of Fortress Investment Group
- Daniel Weiss - Co-Founder and Managing Partner at Angeleno Group LLC, a leading Los Angeles-based private equity firm focused on high growth investments in the energy sector
- John Bryson - Former Chairman, CEO and President of Edison International from 1990 through 2008, a director at The Boeing Company, The Walt Disney Company, and the California Institute of Technology
- Niall Davis - One of ten founding partners of Swiss aeris CAPITAL AG, a large global private equity firm
- Philip Murtaugh - CEO, CODA Automotive; former Chairman and Chief Executive Officer of GM China, EVP International Operations of SAIC
- James P. McGinnis - Managing Director, Harbinger Capital Partners
- Lord John Browne – Managing Director and Managing Partner of Riverstone Holdings LLC, President of the Royal Academy of Engineering, Chair of the Tate, Member of the House of Lords}}
[edit] Board of Advisors[22]
- Mack McLarty – (Thomas "Mack" McLarty) Former Chief of Staff for President Bill Clinton, President of McLarty Associates and McLarty Companies, a transportation business based in Little Rock, Arkansas
- Dr. Thomas Cardello – Partner of Sunrise Capital, an institutional fund manager, Advisory Director and former MD of Global Electronic Derivative Market making for Morgan Stanley
- Dr. Michael Wang – Manager of the Systems Assessment Section of the Center for Transportation Research at Argonne Labs, serves as a senior advisor to the Chinese government on new vehicle technology and alternative energy production
- Henry "Hank" Paulson - former U.S. Secretary of the Treasury, former Chairman and CEO of Goldman Sachs and special representative of the U.S.-China Strategic Economic Dialogue
- Thomas F. Steyer - Managing Director of Hellman & Friedman, a San Francisco private equity firm; Founder, Co-Managing Partner and Chief Investment Officer of Farallon Capital; member of the Board of Trustees of Stanford University
- Woo C. Lee - Head of Asia for the advisory firm JL Thornton & Company, formerly a U.S. diplomat at American embassies in China, Japan, Australia and Southeast Asia
- Thomas R. McDaniel - Director of SunPower Corp., SemGroup, LP, Cypress Envirosystems, and the Senior Care Action Network and Formerly executive vice president, chief financial officer and treasurer of Edison International
- Kevin Czinger - Senior Strategic Advisor, CODA Automotive; Former President and CEO at CODA Automotive, executive at Global Signal, Webvan Group, Bertelsmann AG, and Goldman Sachs
[edit] Awards
Lung disease advocacy group Breathe California named CODA a Clean Air Award winner in the technology development category on April 19, 2010.[23]Silicon Valley networking organization AlwaysOn selected CODA as one of the top privately held companies focused on green technology in its GoingGreen 100 list for 2010.[24]
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