San Jose’s Green Vision program may have hit a snag. Bob Garzee, one of the key players in the city’s push to create a network of public-private partnerships, has been sued by Union Bank of San Francisco. Garzee, the CEO of Synegry EV, Inc., had been planning to create a technology incubator in the city with which his company could develop electric vehicles. But when his line of credit came up for review late this June, it was denied. Now his line of credit is due, and the bank is demanding that he pay back $73,322.
The bank claims that his company’s economic circumstances do not warrant renewal of his credit line. Garzee argues that he has tried to renegotiate with the bank, but that they have rebuffed all his efforts. Meanwhile, he claims, over 30 companies have already expressed an interest in relocating to the Electric Vehicle Development Center that he has planned.
Nancy Klein of the city’s Economic Development Office agrees that proposed center is in its “nascent stages,” but she called Garzee’s role “integral” to the center’s development. Jim Robbins, Jim Robbins, former head of the Environmental Business Cluster, agrees. He calls Garzee’s role “critical,” adding, “It was his idea, and he has the technical ability to make it work.” That may be, but with Synergy EV’s future in the balance, Bob Garzee may not get the chance.
Read More at the Business Journal.