electric/hybrid

EIB engaging with Volta Trucks for 40 million euros venture debt funding

Electric commercial vehicle manufacturer and services provider Volta Trucks has announced that the European Investment Bank (EIB) is engaging with the company for 40 million euros of venture debt financing which will support the roll out of the company’s Truck as a Service (TaaS) over the period 2023-2026.
EIB engaging with Volta Trucks for 40 million euros venture debt funding
Courtesy of Volta Trucks.

The aim of the European Investment Bank’s funding support for Volta Trucks is to contribute to the electrification of the road transport sector, by facilitating electric trucks deployment.

The project is in line with the European Commission's comprehensive framework of policies to reduce greenhouse gas emissions, including the Sustainable and Smart Mobility Strategy (December 2020) and the EU Green Deal (November 2021). Additionally, the project contributes to the EIB's objective for Sustainable Transport and Climate Action hence is in line with the Bank's lending objectives and Transport Lending Policy.

“To receive the validation and support from the European Investment Bank is a huge validation of our ambitious goal to become a European champion of fleet electrification” said Chief Executive Officer of Volta Trucks, Essa Al-Saleh, commenting on the EIB’s venture debt funding proposal. “We are confident that our Truck as a Service proposition, which the EIB is supporting, offers fleet managers a frictionless and hassle-free way to electrify their fleet, and the EIB loan will accelerate this considerably.”

For additional information:

Volta Trucks

Tags: Europe , Transport
Baterías con premio en la gran feria europea del almacenamiento de energía
El jurado de la feria ees (la gran feria europea de las baterías y los sistemas acumuladores de energía) ya ha seleccionado los productos y soluciones innovadoras que aspiran, como finalistas, al gran premio ees 2021. Independientemente de cuál o cuáles sean las candidaturas ganadoras, la sola inclusión en este exquisito grupo VIP constituye todo un éxito para las empresas. A continuación, los diez finalistas 2021 de los ees Award (ees es una de las cuatro ferias que integran el gran evento anual europeo del sector de la energía, The smarter E).