Agilitee Gets Funds To Expand Its Productions And Operations

Agilitee, Africa’s trailblazer in electric vehicles, announced today that it has secured a significant $450 million equity funding program, spearheaded by Infinite Power Systems (IPS), a renowned US-based private equity investor. This monumental equity injection not only strengthens Agilitee’s capital base but also provides the necessary financial muscle to propel its ambitious expansion plans and introduce a wave of innovative products to the market.

One key focus of the funding will be the larger rollout of Agilitee’s highly sought-after electric delivery scooters, which have seen soaring demand across Africa. These scooters, which are already utilized by major food chains like KFC, will now be produced and deployed on a grander scale, further solidifying Agilitee’s dominance in the electric mobility space on the continent.

The financing will also enable Agilitee to complete a strategic merger between its South African operations, Agilitee SA, and a listed company on the Johannesburg Stock Exchange. This significant transaction is expected to be finalized by the end of the year, marking a pivotal step in Agilitee’s growth journey. Additionally, the funding will support Agilitee’s plans to redomicile its headquarters to the United States, positioning the company for even greater global reach.

As part of its move to the US, Agilitee is also gearing up for a listing of its shares on an American stock exchange, with its African and Asian operations set to become subsidiaries of the newly-formed Agilitee Inc., based in the US.

In conjunction with this transformative funding round, IPS will appoint two directors to Agilitee’s board, who are set to join on September 1, 2024. With the company’s relocation to the US, the board has made the strategic decision to appoint a new CEO who will be based in America. The current CEO will transition into the role of Chief Architect, while the CEO of IPS will join the Agilitee board as Vice Chairman. A reconstituted board of directors will be announced on September 1, 2024, marking the dawn of a new chapter in Agilitee’s journey toward global prominence.

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