Be an investor of Project Freighter – a find-in-kind ecological logistics initiative providing water to land delivery to up last miles, using self-propelled electric barges and electric vehicles. The founder aims to develop a “marine highway for moving products” via a network of connecting ports, thus overcoming the current inefficiencies of having too many trucks on the road and not enough leverage of in-land waters.
Total Funding Proposal:
Hybrid Funding - US$306.9m (comprised of $184,140,000 equity + $122,760,000 debt)
Use of funds:
Acquisition of property to operate two strategically located docks in New York State. Focus is on building ports and warehouses on the target properties. The ports will allow price exploits of the warehouses.
Note – Project Freight is open to oversubscription to accelerate phase two of their project which involves expanding their projects to other US states.
Highlights
Strong parent company. The parent company is one of America’s largest trucking associations in the US with over 700 trucking and distribution companies.
Experienced and committed management team. The managerial team are regularly featured in the media and are considred industry heavyweights. The two co-founders of the project personally bootstrapped USD $2.5 million between them.
Government support. Local governments have expressed strong support for the project and USD$10-15 million of the project may be funded through a joint government grant initiative. The distribution of goods will use electric barges and vehicles. This may further qualify the project for additional US government grants.
Secured partners & production ready. Partners already on board to start construction of electric barges. The company has secured a joint venture with a massive industry name which has been dubbed “Tesla of the seas”. The developed system will greatly improve the distribution of goods in an environmentally clean way.
Environmentally conscious and lucrative investment. This project is highly suitable for impact and socially conscious investors due to its development and use of electric barges and electric vehicles. Also, excitingly, Project Freighter is forecasted to be very profitable with operating income growing from $54 million in year one to $102 million in year two.
Clear acquisition/exit plan. The aim of the project is to race Amazon in securing hidden undervalued properties that will sky-rocket in price after ports are built. The company will then automatically become a clear acquisition target of Amazon.
