Financing of 100 electric buses in Scotland

The context

The electrification of long-distance transport is accelerating across Europe, driven both by national climate targets and by evolving user expectations for more sustainable mobility. In Scotland, operator Ember has positioned itself as a pioneer in fully electric intercity transport, with the ambition of providing a credible alternative to private car travel on long-distance routes.

In this context, the public Scottish Zero Emission Bus Challenge Fund (ScotZEB2) aims to financially support the deployment of zero-emission fleets in order to accelerate the energy transition of public transport. It is within this framework that Ember launched a large-scale electrification programme for its intercity coach fleet.

The challenge

Scaling up intercity electric mobility raises several challenges:

• Mobilising significant capital to finance assets still perceived as innovative by parts of the financial community.

• Securing operational performance, particularly for intensive long-distance use under demanding climatic conditions.

• Coordinating public funding, private capital and industrial expertise to make an emerging model economically viable.

For Ember, the objective was clear: accelerate the rollout of a national electric fleet while maintaining the financial flexibility required to support its growth.

Our solution

Through its Neot Green Mobility platform, Neot structured a comprehensive financing solution to support Ember in the progressive deployment of more than 100 electric coaches by mid-2026, representing a total investment of approximately £50 million.

The solution relies on several key levers:

• structuring financing combining public and private capital;
• providing assets and associated services (vehicles, energy, infrastructure) under an “as-a-service” model;
• integrating an extended battery warranty tailored to intensive long-distance operations;
• enabling scalable deployment.

This approach reduces financial risk for the operator while securing both the technical and environmental performance of the project.

Results and impact
Large-scale industrial deployment

• More than 100 electric coaches expected to be in operation by mid-2026.
• Creation of the largest electric coach fleet operated by a single operator in Europe.

Measurable environmental impact

• Up to 25,000 tonnes of CO₂ emissions avoided annually.
• Improved air quality and reduced noise pollution on key intercity routes.

Economic and regional benefits

• Support for local value chains (infrastructure, maintenance, energy).
• Creation of skilled jobs in operations and fleet maintenance.
• Strengthened regional connectivity with more than 250 additional stops planned.

This project demonstrates the economic and operational viability of long-distance transport electrification and provides a replicable model for other European regions.

Why Neot?
Neot Green Mobility specialises in structuring financing solutions dedicated to low-carbon mobility assets. The company combines financial expertise, industrial know-how and the ability to mobilise both public and private capital to accelerate the transport energy transition.
Its solutions enable operators to rapidly deploy electric fleets while securing both their business model and operational performance.

Philip Valarino, Head of Neot UK & Services Director at Neot, commented: “Through NGM, we transform ambitious electric mobility projects into concrete, financially and operationally viable realities. Intercity electrification is no longer a promise — it is underway, and Ember clearly demonstrates its feasibility today. We are proud to partner with such a pioneering player in e-mobility.”