Bright Automotive, Inc.

Bright Automotive, Inc., an Anderson, Indiana-based start-up and spin-off from the Rocky Mountain Institute, is making frequent headlines locally, nationally and around the world. Bright's new "IDEA," a plug-in hybrid vehicle that boasts an impressive 100 MPG, was officially unveiled April 2009 in Washington, D.C. In May 2009, the IDEA was introduced to the global community in Stavenger, Norway at the EVS-24 conference. The IDEA is quickly attracting international attention. In June 2009, Bright met with leaders in Iceland (a country known for its hydroelectric and thermal energy-powered electrical grid) and presented how the IDEA can save money and fuel while simultaneously reducing pollution and dependence on foreign oil.

Bright's business model is unique when compared to other electric and hybrid car companies. A primary example is that Bright has chosen to focus on fleet markets (economic buyers) rather than individual consumers. Developing and pursing a solution with a total cost of ownership advantage has provided an automatic interest in adopting the IDEA into commercial fleets. This strategic decision has enabled Bright to perfect a robust platform that has proven to be useful to large numbers of users with minimal modifications.

John Waters, the CEO of Bright, is no stranger to being a pioneer in the automotive industry. Waters developed the battery for GM's first electric car, the EV1, and has been instrumental in building on his experience and knowledge to create management and engineering teams to position Bright for success.

In recent months, during the most challenging business and financial climate seen in over 60 years, Bright has been able to successfully raise the private capital required to make the IDEA prototype a reality. The company is now in the process of leveraging its private capital with various sources of newly-available public resources to expedite and expand delivery of Bright's business plan.

The attorneys at Ice Miller LLP have had the opportunity to assist Bright through various benchmarks and have been fortunate enough to see firsthand the evolution of Bright's business into a multi-million dollar company with an ever-growing international presence. The Firm has provided legal support and advice relating to many facets of the law, including equity and debt financings, intellectual property matters, labor and employment matters, and general day-to-day corporate and contract issues.

Bright plans to mass produce the IDEA and begin delivery to customers as early as October, 2012. Currently, the goal is to have 50,000 of the energy-efficient vehicles in operation by 2013 and the company, so far, has been successful in reaching the necessary milestones to make that goal a reality.

Bright is not just talking about the American dream, it is reinventing it for a new generation.