EcoVolt backs out of East Bend lease
EcoVolt has withdrawn its lease at its planned East Bend facility following difficulties with financing.
According to an email sent from EcoVolt CEO Mark Leininger to Yadkin County Chamber of Commerce Director Bobby Todd, the company heads met with the landlords of the 100 Century Point Drive location in August 2012 to discuss plans for the facility with the knowledge that EcoVolt had still not secured financing for the project.
“We brought down the CEO of Energy Battery to take a look at the building to see if the building could also be utilized for a distribution hub for them in addition to our battery formation facility,” Leininger stated in the email. “Energy Battery was interested in utilizing the facility and a revision to the lease was negotiated, providing some relief to EcoVolt along with the stipulation that Energy Battery co-sign the lease.”
To date, Leininger says that Energy Battery has still not signed the lease.
In the email Leininger states that the landlord of the East Bend location has already worked out a lease for the open portion of the building and requested that Leininger allow him to place the EcoVolt portion of the building up for lease once more.
“Essentially, if everything comes through for EcoVolt, then great, we continue on,” stated Leininger in the email. “However, if they rent it before we are able to get things done then we will be looking for another space.”
Todd said that the EcoVolt portion of the building has been put back up for lease and that a perspective tenant is currently being considered. However, he is unable to share details about that tenant at this time.
Todd said that if things were not to work out with the prospect and EcoVolt was to fix its financing issues, they would be welcome to resume their business in that location.
EcoVolt Power Corporation, an eco-friendly green automotive battery manufacturer, had originally announced in 2011 that it would open the facility in East Bend. The company’s intent was to create about 60 jobs and invest about $20 million over a three-year period. During a 2011 grand opening, former Gov. Bev Perdue announced a $200,000 grant from the One North Carolina Fund that would go toward EcoVolt as part of an incentive plan.
Reach Lindsay Craven at 679-2341 or at email@example.com.
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