Paris-based NEoT Green Mobility (NGM), a platform dedicated to financing zero-emission mobility, announced that it has secured another €60M from its key investors, Mirova, 3i Group plc and Banque des Territoires, along with historical shareholder EDF Pulse Ventures.
Equal investments from the key investors will increase the platform’s total funding to €160M, supporting more projects.
Witold Marais, Investment Director at Mirova, says, “We are pleased to be providing additional funding to NGM. The platform has been developing new, innovative financing solutions for green mobility operators across Europe and is geared for future growth.”
“The decarbonation of transportation needs to accelerate, and NGM financing solutions are making it easier for operators to electrify their asset base.”
Capital utilisation
With over €200M in assets under management or in deployment, mainly in France, the UK, and Scandinavia, NGM plans to expand across Western, Central, Eastern, and Northern Europe.
With this new investment, NGM aims to reach a €500M asset base by 2025. The firm claims to position itself as a top financing partner for e-mobility operators and local authorities looking to switch to electric fleets or infrastructure.
Philippe Ringenbach, CEO of NEoT Capital, and President of NGM, says, “This €60M extended capacity coming shortly after the last funding round in September 2021 is an excellent news.”
“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.”
Financing the energy transition
NEoT Capital is an asset management company focused on promoting the transition to zero-emission mobility and low-carbon energy.
Supported by Mitsui&Co, Forsee Power, and EDF, the firm creates and manages investment platforms to fund zero-emission equipment using energy storage solutions. It brings together investors to finance these assets, manage them, and offer them as services to local authorities or operators.
NEoT Capital offers expertise in financing, asset management, and equipment development. It has already launched two platforms: NEoT Green Mobility, financing zero-emission mobility in Europe, and NEoT Off Grid Africa, funding decentralised renewable energy solutions in Africa.
NEoT Green Mobility (NGM) offers zero-emission transportation leasing solutions to public authorities and transport companies. It provides E-Mobility-as-a-Service, covering everything from batteries and fleets to charging infrastructure.
Primarily active in Europe, NGM serves various sectors including public transport, shipping, rail, and smart charging. The company started with electric mobility and is now moving into the hydrogen sector.