Boston Financial & Equity Closes $3MM Equipment Lease for Lithium-Ion Battery Manufacturer
JAN 27, 2022 - 6:26 am
Boston Financial & Equity closed a $3 million equipment lease line pari passu with a company focused on the lithium-ion battery manufacturing industry.
Based in California and formed in May 2021, the company also raised a $20 million Series A round of financing. The company’s process will allow electric vehicle battery suppliers to reduce materials and manufacturing costs by shortening the lab production process by more than 90%. The company is in the process of building out its manufacturing facility.
Steve O’Leary and Tim Conway, now CEO/president and chairman of Clarus Capital, respectively, began their business partnership at NewStar Financial, where Conway was founder and CEO and O’Leary was the architect of the company’s equipment finance business. O’Leary enjoyed his... read more
The current environment for funding sources is marred by many of the same challenges facing the greater equipment finance industry, with supply chain constraints, geopolitical tension and soon to be increasing interest rates among the many factors playing into the... read more