Dive summary:
- World CNG, a Kent, Wash.-based aftermarket vehicle tuning shop has received $5 million from Seattle-based Union Bay Capital.
- World CNG said the money will be used to accelerate product research and development, and expand and upgrade natural gas vehicle conversion facilities in Chicago and Las Vegas.
- A new distribution center in the southwestern U.S. will also be built with the funds in order “to foster efficient and environmentally sustainable internal supply chain practices.”
From the article:
Kent, Wash.-based World CNG reports funding of $5 million from Seattle-based Union Bay Capital, and says that the private money was made possible in large part by federal support under the American Recovery and Reinvestment Act of 2009. ...
