Foley & Lardner LLP represented ESG investor Galway Sustainable Capital (“GSC”) in its investment in Hive Technologies, Inc. (“Hive”), the startup that is both disrupting access to electric vehicles (EVs) with a gas car cost parity solution and unlocking the full carbon benefit of EVs. GSC represented a substantial portion of Hive’s latest $30 million in new funding to expand its fleet and lower barriers to EV adoption and ownership, starting with those participating in the gig economy.
GSC’s capital will be used for both acquiring vehicles as well as corporate equity as Hive looks towards significant growth in 2022. The investment accelerates Hive’s vision to ensure that future generations benefit from cleaner air quality by expanding affordable access to EVs and charging infrastructure.
GSC is a private equity-backed specialty finance company that invests in companies that accelerate the transition to greater resilience and sustainability. The company’s investment themes include renewable and distributed energy, efficiency and green buildings, circular economy solutions, sustainable agriculture land and water, carbon markets, and socially responsible credit. GSC is a long-term buy-and-hold investor that partners with experienced entrepreneurs and developers to grow profitable, sustainable businesses.
The Foley team was led by Partner Darin Lowder, with support from Senior Counsel Annie Tsai, Of Counsel David Weisblat, and colleagues from Foley’s Automotive group.
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