# First Mode secures $200M funding from Anglo American, combines with nuGen

First Mode and Anglo American have signed a binding agreement to combine First Mode with Anglo American's nuGen zero emission haulage solution. The transaction includes a $200 million equity injection from Anglo American and values the combined business at about $1.5 billion.

- Type: Investment
- Announced: 2022-12-07
- Where: Seattle, Washington, United States
- Value: $200.0M
- Starts operating: Jan 2023
- Status: announced
- Products: hybrid fuel cell battery powerplant, nuGen zero emission haulage system
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md), [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [First Mode](https://endata.com/companies/54501.md)
- [Anglo American](https://endata.com/companies/15317.md) (investor)

## Sources

- [fleetnewsdaily.com](https://fleetnewsdaily.com/first-mode-secures-200-million-in-funding-from-anglo-american-and-combines-with-nugen-team/), 2022-12-07: "First Mode, a global carbon reduction company focused on heavy industry, and global mining company Anglo American have signed a binding agreement to combine First Mode and Anglo American’s nuGen™ zero emission haulage solution to accelerate the transition of mining and other heavy industries to dies"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.