Anthelion Capital Holdings, formerly Cowen Sustainable Investments, successfully acquired the Energy business unit from Proterra Inc. through a Chapter 11 plan of reorganization approved by Judge Brendan L. Shannon on March 6, 2024. The acquisition provided fleet-scale high-power charging solutions and software for commercial-grade electric vehicle fleets. Sidley played a crucial role in guiding Anthelion Capital through this process, advising on the deal and serving as the Plan Sponsor for the confirmed Chapter 11 plan. Additionally, Sidley advised Anthelion Capital regarding its second-lien loan to Proterra, totaling approximately US$177.2 million, which was fully repaid in cash under Proterra’s confirmed Chapter 11 plan of reorganization. The Sidley team consisted of Thomas R. Califano, Dennis M. Twomey, and Jackson T. Garvey (Restructuring); John H. Butler (M&A and Private Equity); Elizabeth Shea Fries (Investment Funds); Rachel D. Kleinberg (Tax); Ram Burshtine (Global Finance); George J. Vlahakos (Energy and Infrastructure); John J. Kuster and Jon Muenz (Commercial Litigation and Disputes); Maegan Quejada, Juliana Hoffman, and Amanda Rahie (Restructuring); E. Kyle Barnett (Technology and Life Sciences Transactions); and Joshua J
Fleet-scale High-Power Charging Solutions Acquired through Chapter 11 Plan: Anthelion Capital’s Successful Merger with Proterra Inc.’s Energy Business Unit
