Emerald Automotive Expects Private Investors to Fund Global Headquarters in Hazelwood

The company originally planned to get a government grant, but circumstances have changed--it's now shooting for private investors, despite the opinions of critics.

Though it went against the company’s original plan, Emerald Automotive said in August that it withdrew its application for a controversial Department of Energy loan program, but that it’s still on track financially to build its Hazelwood factory, according to a report from the St. Louis Post-Dispatch.

“No one ever said that loan program was very quick, and we have several interested parties who want to move ahead,” Gary Marble, Emerald's communications director, told the Post-Dispatch. “Interest from the investor community has been really good. Some of it is time-sensitive.”

Andy Tempest, Emerald’s CEO, said last week that he’s getting closer to deals with some big European fleet customers and that the company should be able to break ground in Hazelwood next year as planned.

The Post reports that Jim McKelvey, a St. Louisan who helped found a mobile payment service called Square, Inc., said that many likely investors are skeptical after other green car startups have struggled in the U.S.

“Timing was tough in the U.S.,” he told the Post-Dispatch. “A bunch of other companies that didn't know how to do this went under. We've kind of had to climb over their bodies to present Emerald.”

The company is looking at three different sites in Hazelwood, two of which include the Aviator Business Park and the Hazelwood Logistics Center. The company will build new and wants a location that has room to expand.

“We see this as our global headquarters,” he said. “We don't want to be in some old shed.”

Read More About Emerald Automotive in Hazelwood

  • What's In An Emerald Automotive Hybrid Van?
  • Countdown to Emerald Automotive: When are the Jobs Coming?
  • Emerald Automotive Posts Its First Jobs, Leases Hazelwood Property
  • Who's Hiring? Wanted: Middle School Principal, Account Manager, Executive Chef and More
  • Emerald Automotive Issues a State-of-the-Company Report
  • Emerald Automotive Releases Photos of Hybrid Delivery Van Fleet
  • Jim McKelvey Appointed to Emerald Automotive Board of Directors
  • Who Needs Ford? Emerald Automotive Debuts Test Van That Will Bring More Than 500 Jobs to Hazelwood


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