Funding Round attributes
KleanDrive, a Maldon-based company specializing in retrofitting diesel and petrol vehicles with electric drivetrains, has secured a £1 million investment from FirstGroup Energy. The investment will enable KleanDrive to expand its technology, which focuses on converting heavy-duty vehicles such as buses and trucks to electric power. By repowering existing fleets with modular electric drivetrains, KleanDrive offers a sustainable and cost-effective alternative to purchasing new electric vehicles, accelerating the transition to zero-emission transport.
The CEO of KleanDrive expressed the importance of this funding, noting that it will help scale their operations and provide fleet operators with an environmentally friendly solution to reduce emissions. The technology also allows for a faster transition to electric fleets without the significant capital expenditure typically required for new vehicle purchases.
FirstGroup Energy, which focuses on investments that promote sustainability, views KleanDrive's approach as a key element in the effort to reduce emissions in the transport sector. The partnership will enable both companies to work towards a common goal of delivering cleaner, greener transportation solutions across the UK.
With the support of FirstGroup Energy, KleanDrive will be able to further enhance its product offering and reach a broader market. The investment aligns with both companies' commitment to driving the adoption of zero-emission technologies in heavy-duty transportation.
In conclusion, KleanDrive’s £1 million funding from FirstGroup Energy will play a crucial role in expanding its electric drivetrain conversion solutions, enabling a smoother transition to sustainable transport for heavy vehicle operators. This investment highlights the growing focus on innovative solutions for reducing emissions and supporting greener transportation options in the UK.
