First Mode Holdings, Inc.

Founded in 2018, and based in London, UK, First Mode Ltd, operates as a clean energy company. The company was founded by Rhae Adams, Spencer Anunsen, Colin Bateson, Riley Chapin, Krunal Desai, Brian Geddes, Peter Illsley, Maggie Scholtz, Josh Sweere, Chris Voorhees, and Josh Weiss. In September 2021, First Mode Holdings, Inc. raised USD 8.

5 million in venture funding from new investor Anglo American, and in December 2022, the company raised USD 200 million in venture funding from Anglo American and signed an agreement to combine with Anglo American’s nuGen™ zero emission haulage solution. As of 2022, the company is led by its CEO, Julian Soles. First Mode develops and provides carbon reduction, and clean energy solutions for industrial machines and equipment used in the mining, oil, and gas sectors that generate greenhouse gas emissions. The company’s portfolio includes a hybrid fuel cell battery powerplant and nuGen™, an end-to-end, carbon-reducing haulage solution that reduces the carbon output of a colossal mining truck by replacing its diesel engine.

Following the transaction with nuGen™, First Mode plans to sign a global supply agreement for more than 15 years with Anglo American to provide 400 haul trucks with hybrid fuel cell battery powerplants, accompanying infrastructure, and maintenance services.