3i Group, Mirova and Banque des Territoires extends NEoT Green Mobility to a €160 million platform for zero-emission mobility

After a first significant funding round in September 2021 allowing Neot Green Mobility (“NGM” or the “Company”)  to  become a €100m platform for zero-emission mobility, its three key investors, Mirova, through its Mirova-Eurofideme 4 fund[1], 3i Group plc, through its 3i European Operational Projects Fund, and Banque des Territoires have agreed to invest together an additional €60m (in equal portions) alongside its historical shareholder EDF Pulse Ventures[2] to fund the significant pipeline of projects and reach a €160m platform.

NGM offers turnkey zero-emission transportation leasing solutions to public authorities and transport operators. NGM owns and provides E-Mobility-as-a-Service solutions, from Battery and Fleets to Charging infrastructures. NGM addresses a large 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 is expanding into the hydrogen sector. Today, NGM has over €200m assets under management or in deployment, under mid- to long-term contracts, mainly in France, the UK, and Scandinavia, and aims to expand across Western, Central Eastern and Northern Europe.

With this additional investment, NGM targets a €500m asset base committed by 2025 and positions itself as a leading financing partner for e-mobility operators and local authorities seeking to electrify their fleets or infrastructure.

Witold Marais, Investment Director at Mirova: “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”.

Stephane Grandguillaume, Partner at 3i, commented: “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.”

Gautier Chatelus, Deputy Head for Mobility at Banque des Territoires: “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.”

Philippe Ringenbach, CEO of Neot Capital, President of NGM: “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.”