French company NEoT Green Mobility has secured an additional €60 million from its three key investors Mirova (Mirova-Eurofideme 4 fund), 3i Group plc (3i European Operational Projects Fund), and Banque des Territoires.
NEoT Green Mobility’s latest funding follows a first funding round in September 2021 in which the company raised €100 million.
“This €60 million extended capacity coming shortly after the last funding round in September 2021 is an excellent news,” said Philippe RINGENBACH, CEO of NEoT Capital, President of NGM.
“It shows the dynamism of our development and the full support of Mirova, 3i and Banque des Territoires to NEoT Green Mobility’s role as a key financial player of the transition to zero emission Mobility.”
Founded in 2017, NEoT Green Mobility provides turnkey zero-emission transportation leasing solutions to public authorities and transport operators.
NEoT Green Mobility’s latest €60 million raise was split equally between Mirova, 3i, and Banque des Territoires, adding to the support provided by existing shareholder EDF Pulse Ventures.
“We are pleased to be providing additional funding to NGM,” commented Witold Marais, Investment Director at Mirova.
“The platform has been developing new, innovative financing solutions for green mobility operators across Europe and is geared for future growth. The decarbonisation of transportation needs to accelerate, and NGM financing solutions are making it easier for operators to electrify their asset base.”
NGM said the new investment will help the company on its journey to securing a €500 million asset base by 2025, from €200m assets under management or in deployment at present. The company is active in France, the UK, and Scandinavia.
“This is an attractive opportunity for 3i EOPF to continue to invest in the green mobility sector in Europe in a high yield/ low risk platform without development risk,” said Stephane. Grandguillaume, Partner at 3i.
“NGM’s projects play a central role in the energy transition. We believe its pipeline will grow rapidly as the roll-out of electric buses and coaches accelerates. We are very pleased to see the NGM pipeline grow rapidly and into several new segments, from the initial focus on leasing of electric buses and coaches to all types of ground and maritime transportation, as well as in the EV charging space.”
gautier chatelus, Deputy Head for Mobility at Banque des Territoires, added: “We have been an early investor in NEoT Green Mobility back in 2017. By committing additional funding to NGM alongside 3i Group and Mirova on NGM’s board, we strengthen our commitment to roll out green mobility assets in the context of our investment strategy focusing on enhancing energy transition in the Mobility sector, for which NGM is one of our landmark investments.”
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