A pioneering startup in the Philippines is making significant strides in green logistics, thanks to a substantial PHP 350 million (US$6 million) investment from a Southeast Asian clean energy fund. This funding, managed by a Singapore-based firm focused on promoting low-carbon initiatives, will support the startup’s expansion and innovation in the electric vehicle (EV) sector.
The investment, structured through both equity and convertible notes, will enable the startup to expand its fleet of electric vehicles to 238 units and establish a state-of-the-art 3,000-square-meter charging facility by early 2025. This facility is part of the company’s broader strategy to lead the shift towards sustainable logistics in the region.
Serving a roster of high-profile clients, the startup’s fleet is entirely electric, positioning it at the forefront of the green logistics movement. The company is also advancing its technology with the development of an innovative Battery Management System (BMS) designed to enhance the efficiency and longevity of its EVs.
To support its extensive operations, the company plans to strategically deploy charging stations throughout northern and southern Luzon. By sourcing EVs directly from original equipment manufacturers (OEMs) and customizing them to meet specific operational needs, the company ensures maximum efficiency and reliability in its logistics services.
The CEO of the startup highlighted the significance of the investment, noting that the partnership with the clean energy fund brings credibility and accelerates the company’s progress towards its sustainability goals. This collaboration not only strengthens their commitment to a low-carbon future but also boosts their reputation in the industry.
In addition to its environmental initiatives, the company is committed to promoting workforce diversity by training female drivers and assemblers. Their team of EV drivers, known as Green Delivery Specialists (GDS), exemplifies the company’s dedication to high standards of service and sustainability.
The investment officers from the clean energy fund expressed their enthusiasm for the project, emphasizing that their support is designed to help clean-energy entrepreneurs achieve financial sustainability while generating positive environmental impacts. They view the startup’s focus on fully electric B2B delivery services as a compelling example of how strategic investment can drive the low-carbon transition and accelerate business growth.
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