The City of Hazelwood, Missouri, in connection with Missouri Technology Corporation, a Missouri non-profit corporation, extended a $5 million secured loan to Emerald Automotive, LLC, a British producer of low-to-zero emissions, electric-hybrid delivery vans. R.L. Hulett & Company assisted the City of Hazelwood by performing due diligence on the project.

With a population of nearly 26,000 residents covering 16.5 square miles, the City of Hazelwood is one of the largest cities in St. Louis County. Adjacent to Lambert St. Louis International Airport, Hazelwood is the home of nearly 1,000 businesses and boasts a highly-skilled workforce. Hazelwood is a world-class business center, proudly hosting U.S. corporations such as Boeing and IBM, as well a foreign companies including Aesculap (Germany), GKN Aerospace (UK), bioMérieux (France), Matrix Packaging (Canada).

Emerald Automotive, LLC is a start-up entity formed through a partnership of Intelligent Energy Ltd. and AGT Strategic Consultants with the purpose of developing, manufacturing, and selling lightweight, low-to-zero emission delivery vehicles for global fleet operators. Emerald intends to use the loan proceeds to support its development of a manufacturing assembly facility in the City of Hazelwood.

R.L. Hulett & Company performed due diligence and independent research for the City of Hazelwood by assessing the market demand for Emerald’s product, investigating the competitive environment and competing technologies for low-emission vehicles, analyzing the manufacturing process and job creation potential, and reviewing the regulatory greenhouse gas initiatives for compliance standards.

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