Specialist in the electric conversion of heavy vehicles KleanDrive has announced that FirstGroup Energy, the dedicated energy investment arm of FirstGroup, is investing £1 million in its business to boost its work in converting existing internal combustion engined buses into electric vehicles.
Investment Director of FirstGroup Energy Faizan Muhammad 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 CEO Joe Tighe added: “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.”
