Envision Solar Secures $4.5M in Working Capital Credit and Term Debt to Fund Growth

Envision Solar International (OTCQB:EVSI) has announced it has secured a $1.5 million financing in term debt to refinance an existing line of credit and $3 million in working capital credit to fund its orders for its EV ARC product.
As quoted in the press release:

The financing is being provided by a new investor which is the family office of a large, well-known and respected institution.
The $3M of working capital credit will increase the Company’s efficiency in executing orders for notable customers such as New York City and the State of California, currently Envision’s two largest customers.
“This financing will provide us with the fuel we need to continue our growth,” said Desmond Wheatley, President and CEO of Envision Solar, “but it’s also a very strong endorsement of our Company and business plan by a group of highly experienced investment analysts who have elected to make this commitment to our Company after very extensive due diligence.”
Full details of the financing were published in a Form 8K released on Friday, September 22^nd 2017 and can be found on the Company’s website or on any other financial reporting site.

Click here to read the full press release.