Friday, June 21, 2024
HomeFunding Singapore-Based ComfortDelGro Raises $73 Million in Funding

[Funding Alert] Singapore-Based ComfortDelGro Raises $73 Million in Funding

ComfortDelGro Corporation and Singaporean lender DBS announced an $73 million credit to decarbonize the global operator’s bus fleet in the United Kingdom.

In a statement, ComfortDelGro stated that 135 electric buses were purchased for its wholly-owned subsidiary, Metroline, which is the fourth-largest scheduled bus operator in London, accounting for roughly 17% of the city’s scheduled bus services.

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The announcement states that 135 internal combustion engine-powered buses would be replaced by 77 double-deck and 58 single-deck electric buses, which are expected to reduce yearly tailpipe emissions of carbon dioxide equivalent by about 9,900 tons.

The green loan is the most recent in ComfortDelGro’s continuous attempts to convert half of its fleet of buses worldwide to cleaner energy vehicles by 2030 and all of them to 100% by 2050.

“As a leading multi-modal transport operator, we are keen to drive sustainability through the businesses we operate, “This green loan from DBS enables us to advance our sustainability goals, driving positive impact for the environment and the communities we serve,” said Cheng Siak Kian, Group Chief Executive Officer of ComfortDelGro.

A full range of transportation options is provided by ComfortDelGro, a multi-modal transport operator. The company’s wide network includes business-to-business mobility solutions, point-to-point transportation via taxis and private rental automobiles, and public transportation such as buses and trains.

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Singapore, Australia, the UK, New Zealand, China, Ireland, France, Malaysia, Spain, Portugal, Greece, and the Netherlands are among the twelve nations in which the company provides services. As cleaner energy cars make up over half of our fleet, the company said it assists local governments and communities in creating equitable and sustainable transportation systems.

DBS is an Asian financial services group operating in 19 markets. The company, which is listed in Singapore, is present in Greater China, Southeast Asia, and South Asia the three main growth axes in Asia.

About ComfortDelGro

ComfortDelGro is a top multi-modal transport provider with an extensive range of delivery options. Their vast network includes business-to-business mobility solutions, taxis, and private rental automobiles for point-to-point transportation. It also includes public transportation such as buses and trains.

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