KfW IPEX-Bank: Financing for NEoT Green Mobility

KfW IPEX-Bank joins Credit Agricole CIB and La Banque Postale to strengthen NEoT Green Mobility’s multi-currency financing structure up to EUR 145 million.

With the support of KfW IPEX-Bank, NEoT Green Mobility (NGM), an industry frontrunner in green mobility asset financing, extends its existing multi-currency financing structure capacity to attain EUR 145 million equivalent, bolstering further its growth in Europe. KfW IPEX-Bank joins Crédit Agricole CIB and La Banque Postale as co-lender.

An image of a bus outside a hall

With this additional financing, NGM ascertains itself at the forefront of the energy transition financing by accompanying private and public entities in their transition to zero-emission mobility.

This transaction follows not only the 2022 extension of this facility, with La Banque Postale as new co-lender, but also NGM’s successful 2021 fundraising of EUR 80 million with 3i EOPF, Mirova Eurofideme 4 and Banque des Territoires, and underlines NGM’s consistent performance and growth in EU and the United Kingdom. Besides further increasing its financing capacity, NGM is more importantly one step closer to reaching its target of EUR 400 million assets under management by 2025.

The “E-Mobility-as-a-Service” solutions of NGM include the financing and supply of batteries, vehicle fleets or charging solutions for sectors including urban and inter-urban public transport, logistics, shipping, inland navigation, rail and charging solutions. The company is also exploring existing hydrogen-based solutions.

NGM is managed by NEoT Capital. Crédit Agricole CIB acted as lead arranger of this new transaction. Reed Smith assisted NGM and Crédit Agricole CIB as legal counsel for the transaction.

Philippe Ringenbach, CEO of NEoT Capital, commented:

“After welcoming La Banque Postale last year beside our historical partner Crédit Agricole CIB, we are now entering in a new era with the arrival of a key international player. This transaction will allow NEoT Green Mobility and NEoT Capital to keep on developing and even to accelerate its deployments and reach a global footprint as a major player in the energy transition to zero-emission mobility in Europe.”

Laurent Haik, Managing Director at Crédit Agricole CIB’s securitisation department, added:

“We are proud to have pioneered the first securitisation backed by zero-emission mobility assets and to have supported NGM from the outset and we are extremely happy to be joined by KfW IPEX-Bank, at a time where NGM is accelerating its development in view to become a major player on its market.”

Agnès Pelhate, Head of Asset Finance at La Banque Postale (corporate and investment bank division), said:

“We are pleased with NGM continued growth in France and across Europe, that will be further accelerated by the arrival of KfW IPEX-Bank and the increase in the banking lines available to finance the transition to more environmental friendly transportation.”

Andreas Ufer, Member of the Management Board of KfW IPEX-Bank, concluded:

“We are delighted to support NEoT Green Mobility and its E-Mobility-as-a-Service solutions. They fit perfectly with our agenda to finance the transition towards sustainable society in all three dimensions of the economy, environment and social. We look forward to seeing NEoT Green Mobility grow its business and help path the way for a zero-emission mobility.”

This article was originally published by KfW IPEX-Bank.

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