Proterra gets interim approval to access cash collateral

By Sarah Lizee

Olympia, Wash., Aug. 10 – Proterra Inc. received interim approval to access cash collateral, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The company’s first-lien credit facility lenders and second-lien convertible noteholders have been granted adequate protection.

A further hearing is scheduled for Sept. 7.

Burlingame, Calif.-based Proterra designs and manufactures zero-emission electric transit vehicles and EV technology solutions for commercial applications. The company filed bankruptcy on Aug. 7 under Chapter 11 case number 23-11120.

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