Following the launch of its StartEngine crowdfunding campaign, South Carolina’s Alkane Truck Company announced its exclusive agreement with Brazilian truck manufacturer, Agrale. The company stated the agreement names it the sole representative for Agrale’s sales and service in North America.
As previously reported, Alkane assembles heavy-duty trucks that run on clean, alternative fuels. The company stated its vehicles would be available with any of four different fuel types, CNG; LPG; gasoline; or for international markets–diesel. The trucks will also include a Class 7 cab-over delivery truck, a Class 8 cab-over, 18-wheel heavy hauler, and the Humvee-style, Alkane Dominator. The truck is the first vehicle from Alkane’s collaboration with Agrale.
The company, which tested the waters (TTW) last year, noted that StartEngine suggested it use Reg CF for its latest funding round. It revealed:
“One year ago we started working with the team at StartEngine and launched a Title IV Test The Waters campaign, to get non-binding indications of interest from investors. We [were] able to receive almost $400,000 in non-binding reservations, but to be able to take our campaign live, we required a full audit among other documentations which are being completed now. We received an email from Ron Miller from StartEngine suggesting we change our offering from a Title IV to a Title III which they were just launching around summer 2016, so we agreed. And here we are today! Live. Our strategy is to complete a successful Title III and if the project requires more funding to develop the other phases we will launch a new Title IV campaign or might even go public through IPO in the Stock Markets.”
While sharing details about the new agreement, Alkane CEO, Bob Smith, explained:
“We are very excited about having exclusivity with Agrale in the North American market. The unique vehicles we will be offering through Agrale will fill existing market voids. We are ready to move forward and we anticipate the North American market will be very receptive to these rugged and durable vehicles. This agreement is a unique and exciting opportunity for both companies, and we look forward to working together.”
Alkane added that the agreement would also offer other various commercial chassis options for recreational and public transportation vehicles.
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