Portland-based company Conscious Commuter has run out of money, ceased operations on December 16th, and is "in the process of winding up its affairs". That news comes via an email sent to supporters by Gabriel Wartofsky, the company's head designer and co-founder.
Conscious Commuter launched in June 2011 with plans to mass-produce a foldable electric bike in Portland. The concept was the marriage of Wartofsky's design skills mixed with the entrepreneurial and business background of company President and CEO Bob Vander Woude. The company had been headquartered at One World Trade Center in downtown Portland.