France-based NEoT Green Mobility bags €60M to finance zero-emission mobility

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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.

Brief about Banque des Territoires

Banque des Territoires, part of Caisse des Dépôts, advises and operates in all French territories for the general interest. It acts as a one-stop shop, collaborating with various local stakeholders including authorities, businesses, and social housing bodies, providing services like advice, loans, and equity. 

The firm supports public interest projects. From rural to urban areas, its goal is to maximise impact, particularly in ecological transformation and regional cohesion. With 37 offices, it ensures comprehensive coverage across metropolitan and overseas territories.

Speaking about the investment in NGM, Gautier Chatelus, Deputy Head for Mobility at Banque des Territoires, says, “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.”

Brief about the investors supporting NEoT Green Mobility

3i EOPF is a €456M fund managed by 3i’s infrastructure team. It’s fully invested in operational projects throughout Europe, with a focus on France, the Benelux, Germany, Italy, and Iberia. These projects span various sub-sectors, including social infrastructure, transportation, telecoms, and utilities.

Speaking about the investment in NGM, Stephane Grandguillaume, Partner at 3i, says, “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. 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.”

Mirova is a Paris-based asset management firm dedicated to sustainable investing, offering innovative solutions across various asset classes. They claim to have been leaders in energy transition infrastructure for 20 years, financing over 1,000 projects for a total of over 7.3 GW of potential generation capacity across 48 countries.

The firm manages €30.9B in assets, including €3.8B in energy transition infrastructure investments. Mirova operates as a mission-driven company and is certified as a B Corporation.

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Vishal Singh

Vishal Singh is a News Reporter and Social Media Marketing Lead at Silicon Canals. He covers developments in the European startup ecosystem and oversees the publication's social media presence. Before joining Silicon Canals, Vishal gained experience at the Indian digital media outlet Inc42, contributing to its growth with insightful content. Despite being a college dropout, his passion for writing has driven his career in journalism.

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