FirstGroup investing £1m into KleanDrive
FirstGroup Energy Limited, the dedicated energy investment arm of FirstGroup, is investing £1 million in bus and coach repower specialist KleanDrive.
This venture investment aligns with FirstGroup’s focus on supporting innovative technologies within the decarbonisation value chain, aimed at lowering the total cost of ownership for electric buses to be equal to, or even lower than internal combustion engine alternatives. FirstGroup has a long-term commitment of achieving a fully zero-emission fleet by 2035.
Faizan Muhammad, Investment Director of FirstGroup Energy Limited, said: “This transaction represents our first venture investment and is consistent with our focus on accessing new and innovative solutions through targeted investments. KleanDrive’s cutting edge technology offers a complementary option, and greater coverage, to support fleet operators in their decarbonisation efforts.”
KleanDrive’s OEM-agnostic, modular electric drivetrains combine next-generation technology from suppliers like CATL, Graysons and Voith with deep engineering expertise. This flexible, bespoke solution allows any heavy vehicle to be repowered to electric, significantly reducing the total cost of ownership and cutting emissions, all while offering fleet operators a faster route to zero emissions.
Joe Tighe, CEO of KleanDrive, said: “We are delighted at FirstGroup’s investment and as part of this we welcome Faizan Muhammad onto the board as both a strategic investor and a partner in driving the future of zero-emission transport. We are offering fleet operators across the UK a real, actionable pathway to decarbonise—without waiting years for new vehicles. Repowering existing fleets with the latest electric technology allows operators to extend vehicle life, reduce emissions and materially lower costs.”
- B&CB recently interviewed KleanDrive’s Joe Tighe in issue 1686, 20 September 2024.