3i Group plc (“3i”) announces that the 3i European Operational Projects Fund (“3i EOPF” or “the Fund”) has agreed to invest c.€30m in NEoT Green Mobility (“NGM”) to fund its pipeline of future projects. 3i EOPF is investing alongside Mirova and will join existing shareholders EDF and Banque des Territoires. Following this transaction, the Fund is c.70% committed.

NGM offers turnkey zero-emission transportation leasing and services solutions to public authorities and transport operators.  NGM owns and leases assets such as electric buses and electric coaches, batteries for use in electric vehicles, and electric vehicle charging infrastructure. Today, NGM has over €40m assets under management, under mid- to long-term contracts, mainly in France and the UK, and aims to expand across Western and Northern Europe.

Stephane Grandguillaume, Partner at 3i in charge of origination for the Fund, commented: “This is an attractive opportunity for 3i EOPF to invest in the green mobility sector in Europe. NGM’s projects play a central role in the energy transition. We believe its pipeline will grow rapidly as the roll-out of electric buses and coaches accelerates.”

3i EOPF, which is managed by 3i’s infrastructure team, is a €456m fund investing in operational projects across Europe, with a focus on France, the Benelux, Germany, Italy and Iberia.  It targets a wide range of sub-sectors, primarily social infrastructure and transportation, but also telecoms and utilities.  It aims to provide long-term yield to institutional investors.

 

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About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com

About 3i’s Infrastructure business

3i is a leading infrastructure investor, with a track record of investing in infrastructure since 1987. The team of over 35 investment professionals manages or advises c.£4.9 billion of assets through a number of infrastructure investment vehicles, including 3i Infrastructure plc, 3i EOPF, 3i MIA, BIIF and 3i India Infrastructure Fund.