Mirova Invests Into Zero-Emission Mobility Financing Specialist NEoT Green Mobility
Mirova, through its Mirova-Eurofideme 4 fund1, invests €60m together with 3i Group plc, through its 3i European Operational Projects Fund, in NEoT Green Mobility (“NGM” or the “Company”) to fund its pipeline of projects, while Banque des Territoires is investing an additional €20m. The funding round takes the total equity investment capacity of the Company to €100m. Historical shareholder EDF Pulse Croissance (the EDF Group corporate venture activity) renews its trust in the Company by keeping its involvement in its capital while Mitsubishi Corporation is exiting.
NGM offers turnkey zero-emission transportation leasing and services solutions to public authorities and transport operators. The Company’s E-Mobility-as-a-Service solutions include provision of batteries, rolling stock or charging infrastructures as-a-service to customers across a wide range of sectors: urban and inter-urban public transport, inland navigation and shipping, rail, charging points and smart charging solutions. Having started with electric mobility, the Company will also seek to expand into the hydrogen sector. Today, NGM has over €40m assets under management, under mid- to long-term contracts, mainly in France and the UK, and aims to expand across Western and Northern Europe.
With this combined investment, NGM targets a €400m asset base by 2024 and positions itself as a leading financing partner for mobility operators and local authorities seeking to electrify their fleets or infrastructure.
Raphaël Lance, head of Mirova’s Energy Transition Infrastructure Funds, at Mirova: “We are delighted to be joining forces with EDF Pulse Croissance and Banque des Territoires to accelerate the growth of NGM. The electrification of the transportation infrastructure across all segments, from freight and bus & coaches to charging infrastructure, will require substantial investments from mobility companies to whom NGM is offering attractive financing solutions”.
Stephane Grandguillaume, Partner at 3i, commented: “This is an attractive opportunity for 3i EOPF to invest in the green mobility sector in Europe. 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.”
Pierre Aubouin, Head of Infrastructure & Mobility department at Banque des Territoires: “Banque des Territoires has been an early investor in NEoT Green Mobility back in 2017. By committing a further 20 M€ and welcoming 3i Group and Mirova on NGM’s board, we strengthen our commitment to roll out green mobility assets in the context of its action for more sustainable territories and today particularly in the context of the French Economic Recovery Package.”
Michel Vanhaesbroucke, CEO of EDF Pulse Croissance: “Convinced that the fight against climate change requires solutions for decarbonising territories, EDF Pulse Croissance has renewed its confidence in NGM. This new round of financing should help accelerate the financing of concrete solutions to decarbonise territories and reach net zero by 2050. We are very pleased to welcome new partners.”
Philippe Ringenbach, CEO of NEoT Capital, President of NGM: “We are delighted to welcome Mirova and 3i into NEoT Green Mobility alongside historical founders Banque des Territoires and EDF Pulse Croissance. The arrival of these two major financial players together with a significant reinvestment from Banque des Territoires validates our strategy and our value proposition. This reinforces our capacity to accelerate our development in the next months in Europe. In these times of decarbonation challenges for the whole economy, moving towards electric and hydrogen technologies is crucial to reach the targets established by the European Union to reduce by 40% the greenhouse gases by 2030”.
For further reading:
1 Mirova Eurofideme 4 is a Société de Libre Partenariat (French limited partnership), not subject to the approval of the French Market Authority and closed to subscriptions.
Mirova
Mirova is an affiliate of Natixis Investment Managers.
Portfolio management company - French Public Limited liability company
Regulated by AMF under n°GP 02-014
RCS Paris n°394 648 216
Registered Office: 59, Avenue Pierre Mendes France – 75013 – Paris.
www.mirova.com
Natixis Investment Managers
Natixis Investment Managers is a subsidiary of Natixis.
Portfolio management company - French Public Limited liability company
RCS Paris n°453 952 681
Registered Office: 43, Avenue Pierre Mendes France – 75013 – Paris.
www.im.natixis.com
This communication is for information only and is intended for investment service providers or other Professional Clients. The analyses and opinions referenced herein represent the subjective views of the author as referenced unless stated otherwise and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.
Copyright © 2021 Natixis Investment Managers S.A. – All rights reserved
NGM offers turnkey zero-emission transportation leasing and services solutions to public authorities and transport operators. The Company’s E-Mobility-as-a-Service solutions include provision of batteries, rolling stock or charging infrastructures as-a-service to customers across a wide range of sectors: urban and inter-urban public transport, inland navigation and shipping, rail, charging points and smart charging solutions. Having started with electric mobility, the Company will also seek to expand into the hydrogen sector. Today, NGM has over €40m assets under management, under mid- to long-term contracts, mainly in France and the UK, and aims to expand across Western and Northern Europe.
With this combined investment, NGM targets a €400m asset base by 2024 and positions itself as a leading financing partner for mobility operators and local authorities seeking to electrify their fleets or infrastructure.
Raphaël Lance, head of Mirova’s Energy Transition Infrastructure Funds, at Mirova: “We are delighted to be joining forces with EDF Pulse Croissance and Banque des Territoires to accelerate the growth of NGM. The electrification of the transportation infrastructure across all segments, from freight and bus & coaches to charging infrastructure, will require substantial investments from mobility companies to whom NGM is offering attractive financing solutions”.
Stephane Grandguillaume, Partner at 3i, commented: “This is an attractive opportunity for 3i EOPF to invest in the green mobility sector in Europe. 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.”
Pierre Aubouin, Head of Infrastructure & Mobility department at Banque des Territoires: “Banque des Territoires has been an early investor in NEoT Green Mobility back in 2017. By committing a further 20 M€ and welcoming 3i Group and Mirova on NGM’s board, we strengthen our commitment to roll out green mobility assets in the context of its action for more sustainable territories and today particularly in the context of the French Economic Recovery Package.”
Michel Vanhaesbroucke, CEO of EDF Pulse Croissance: “Convinced that the fight against climate change requires solutions for decarbonising territories, EDF Pulse Croissance has renewed its confidence in NGM. This new round of financing should help accelerate the financing of concrete solutions to decarbonise territories and reach net zero by 2050. We are very pleased to welcome new partners.”
Philippe Ringenbach, CEO of NEoT Capital, President of NGM: “We are delighted to welcome Mirova and 3i into NEoT Green Mobility alongside historical founders Banque des Territoires and EDF Pulse Croissance. The arrival of these two major financial players together with a significant reinvestment from Banque des Territoires validates our strategy and our value proposition. This reinforces our capacity to accelerate our development in the next months in Europe. In these times of decarbonation challenges for the whole economy, moving towards electric and hydrogen technologies is crucial to reach the targets established by the European Union to reduce by 40% the greenhouse gases by 2030”.
For further reading:
- Mirova and Banque des Territoires Announce Investment in the Clem’ Eco-Mobility Initiative: a Vehicle Sharing Platform for Businesses in Paris
- Financing the Necessary Ecological Transition of Transport
- Hydrogen Mobility Pioneer, Hype, is Entering a New Phase with HysetCo’s Acquisition of Major Taxi Firm Slota
- Electric Vehicle Charging Expert, DRIVECO Opens its Capital to Mirova
- Opportunities in Next-Generation Energy Infrastructure
Mirova
Mirova is an affiliate of Natixis Investment Managers.
Portfolio management company - French Public Limited liability company
Regulated by AMF under n°GP 02-014
RCS Paris n°394 648 216
Registered Office: 59, Avenue Pierre Mendes France – 75013 – Paris.
www.mirova.com
Natixis Investment Managers
Natixis Investment Managers is a subsidiary of Natixis.
Portfolio management company - French Public Limited liability company
RCS Paris n°453 952 681
Registered Office: 43, Avenue Pierre Mendes France – 75013 – Paris.
www.im.natixis.com
This communication is for information only and is intended for investment service providers or other Professional Clients. The analyses and opinions referenced herein represent the subjective views of the author as referenced unless stated otherwise and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.
Copyright © 2021 Natixis Investment Managers S.A. – All rights reserved