Banco Santander Grants Stark Future 20 Million Euros in Working Capital for Production Expansion of Stark VARG

Last Updated on: 22nd November 2023, 12:25 am

Stark Future, a leading innovator in the field of Performance Electric Motorcycles and Technology, has secured a 20 million euros loan agreement with Banco Santander. The loan will serve as essential working capital, allowing Stark Future to scale up the production of its globally acclaimed Stark VARG electric motocross bike.

Ignacio Yllera Alfaro, executive director Growth Debt at Santander, said: “We are honored to be part of this journey, as it represents a step closer to our green finance targets. Stark Future is bringing sustainability to the motorcycle industry and the fully electric, high-performance motorcycle Stark VARG will take the sport to the next level.”

The loan agreement stemmed from Santander’s extensive experience in providing financial services to innovative and forward-thinking companies, along with their deep understanding of the evolving electric vehicle market.

Anton Wass, CEO of Stark Future, commented: “We are thrilled to announce our partnership with Banco Santander, a prestigious global financial institution, to address our working capital requirements. Santander’s exceptional financial expertise and immaculate reputation in the industry make them the ideal collaborator as we strive to fulfill the increasing demand for our groundbreaking Stark VARG electric motocross bike. This loan agreement will provide us with the necessary resources to expand our production capacity and successfully achieve our global expansion goals.”

The loan agreement between Stark Future and Santander is a testament to the confidence and support Santander has placed in Stark Future’s pioneering achievements in the electric vehicle market. With this significant financial backing, Stark Future aims to further revolutionize the off-road industry, catering to riders’ desires for unparalleled performance, versatility, and sustainability.

On Wednesday 28 June, 2023, Stark Future announced the signing of a 20 million euros loan agreement with Banco Santander, a leading commercial bank. The funding will be used to scale up production capabilities, streamline manufacturing processes, and enhance research and development efforts related to the Stark VARG electric motocross bike. The loan agreement reinforces Stark Future’s vision and underscores its commitment to supporting sustainable and forward-thinking initiatives. Leveraging the resources of Santander, Stark Future is aiming to solidify its position as a frontrunner in sustainable transportation and expedite the adoption of Premium Electric Motorcycles on a global scale.

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