The O.H.I.O. Fund adds electric bus maker Endera to its portfolio
From a 250,000-square-foot plant in Ottawa, Endera is scaling production of vertically integrated electric shuttles. Backed by Mark Kvamme’s O.H.I.O. Fund and Magnetar, the company is anchoring the state's re-industrialization by providing federally compliant fleets for a national market.
In a former Philips manufacturing plant in Putnam County, the next chapter of the American bus is being built. The O.H.I.O. Fund announced today it has invested in Endera, an Ottawa-based manufacturer of electric shuttles and school buses, as the company looks to scale production for a national market.
The investment from the Mark Kvamme-led fund joins a cohort of backers including Magnetar and Pulse Fund. It signals a bet on Endera’s rare position as a vertically integrated original equipment manufacturer (OEM) that handles design and assembly entirely within its 250,000-square-foot Ohio facility.
Local manufacturing, national standards
Endera has carved out a niche by building vehicles from the ground up rather than retrofitting existing frames. This "end-to-end" manufacturing model helped the company secure the highest Altoona test score in its class—a critical durability benchmark for federal transit agencies.
"We’re thrilled to partner with Endera as they continue to redefine the future of electric transportation and manufacturing in Ohio," said Mark Kvamme, CEO at The O.H.I.O. Fund. "This investment reflects our commitment to scaling durable, industry-leading businesses that create real operating leverage and long-term value in the state."
The Big Picture: Ohio’s EV transition
While the "Voltage Valley" in Eastern Ohio often captures headlines, this deal highlights the strength of Northwest Ohio’s industrial corridor. The state is currently undergoing a massive retooling of its automotive sector:
- Supply Chain Integration: Ohio is positioning itself to own every step of the EV lifecycle, from battery cells to final vehicle assembly.
- Federal Compliance: By producing federally compliant vehicles, Endera is positioned to capture a share of the billions in federal funding currently being allocated to school districts and transit agencies for fleet electrification.
- Capital Retention: The O.H.I.O. Fund’s involvement emphasizes a growing trend of keeping Ohio-raised capital within state borders to scale local businesses.
What’s next
Endera plans to use the capital to ramp up production lines and expand its local footprint to meet the rising demand from private and public fleets. For The O.H.I.O. Fund, which closes 2025 with strong momentum, the investment adds a cornerstone manufacturing asset to its growing portfolio of state-wide projects.
