First Mode explores strategic alternatives as Anglo American stops funding clean energy company
First Mode, a Seattle-based clean tech company aiming to reduce carbon emissions for mining trucks and other heavyweight vehicles, is in asset acquisition talks after a decision by its majority shareholder to stop funding the business. Anglo American, a global mining company which took ownership of First Mode last year in a $1.5 billion transaction, recently halted funding to First Mode, according to a First Mode spokesperson. “As a result, First Mode engaged financial advisors to support the
