KleanDrive, has just announced a £1m investment by FirstGroup plc. The investment comes as FirstGroup aims for a 100% zero-emission fleet by 2035 and follows KleanDrive’s completion of the the first of its diesel-to-electric bus conversions for Lothian Buses in Scotland. UK based KleanDrive strips diesel engines out of 5-to-12 year old buses, replacing them with fully electric powertrains.
Transformer kit…changing diesel buses to electricity
KleanDrive’s “e-drivetrain in a box” converts both single or double-decker buses from diesel to fully electric. The Lothian contract has now validated that its process is quick and cost-effective. Once a model type e-drivetrain has been designed and tested, Kleanbus says it takes less than two weeks to repower an individual bus.
Cost-wise, up to three legacy buses can be converted for the same cost as purchasing one new electric bus.
As part of the investment, FirstGroup’s Investment Director, Faizan Muhammad will join KleanDrive’s Board to emphasise the strategic importance and commitment of their investment. Fiazan commented: “KleanDrive’s cutting-edge technology offers a complementary option, and greater coverage, to support fleet operators in their decarbonisation efforts.”
Lothian Buses Engineering Director Colin Barnes describes repowering as having a “vital role to play” in delivery of the operator’s Driving Net Zero strategy. It will sit alongside purchase of new battery-electric buses, with the municipal having 50 such Volvo BZL double-deckers on order.
“Lothian is committed to bolstering the efforts of the Scottish Government and City of Edinburgh Council to enhance local air quality. Working with KleanDrive to upcycle current diesel buses to electric helps us to accelerate our transition to a more environmentally friendly transportation network at pace, and accelerates our net-zero plan,” adds Mr Barnes.
“Upcycling is the most environmentally friendly solution to transform a current diesel fleet as it avoids unnecessary scrappage. We are delighted to be supporting Lothian Buses’ work on converting the first bus to aid its industry-leading net-zero strategy,” says Joe Tighe, KleanDrive’s CEO..
Lothian has 30 Volvo B5TLs with open-top Wrightbus bodywork in its Edinburgh Bus Tours fleet. They are complemented by well over 200 further B5TLs with closed-top bodies from Wrightbus and Alexander Dennis.
Joe Tighe of KleanDrive, adds:“KleanDrive provides a complete solution to bus operators, with innovative financing and charging as part of the total package, making it easy to go zero emission.”
Greenbackers Engagement with Kleandrive
Greenbackers has worked with KleanDrive, a certified B-Corp, for over 2 years helping them to fundraise. “Retrofitting rather than scrapping is just plain economic common sense…and cuts down on landfill waste. This is a young company with a solid idea and huge potential, but up until now, investors haven’t been hearing the message.” says Robert Hokin, Greenbackers Managing Partner. “The FirstGroup deal will help us to change that.”
“Working with KleanDrive is a joy. Their management team and staff have such a passionate, engineering led commitment to decarbonising transport. We like that. And they really think outside the box. In fact, the first time we brought investors to their workshop, they delivered their investment pitch in one of their actual e-bus conversions and then drove us around in it!”
He added, “Clearly, the quicker and more cheaply we can get diesel buses off the road, the better. And now the economics are compelling. It’s high time that venture capital investors took notice, and we think the First Bus investment and the Lothian deliveries should drive that message home, pun intended! A follow on scaling raise is likely in the coming months and I would suggest that any funds focussed on e-mobility should express their interest now. This progam is really going to accelerate…we’re very excited by KleanDrive’s prospects.”
About Greenbackers Investment Capital
Greenbackers is a specialist venture firm focused on climate & cleantech capital globally. Operating from London, Glasgow and Houston, their mission is to “fund 1000 companies to change the world”, accelerating venture capital into investable climate and clean technology businesses. To learn more visit www.greenbackers.com or contact Robert Hokin, Managing Partner at [email protected] for further information about KleanDrive.
