Home Economy Singapore’s Clime Capital invests in Mober’s green fleet expansion

Singapore’s Clime Capital invests in Mober’s green fleet expansion

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LOGISTICS company Mober Technology Pte., Inc. (Mober) has secured $6 million from Singapore-based Clime Capital Management Pte. Ltd. to fund its green vehicle expansion.

“Not all funding is created equal. Having Clime Capital as an investor adds significant credibility to Mober and solidifies our commitment to sustainability. This partnership not only enhances our reputation but also accelerates our progress towards achieving our ambitious sustainability goals,” Mober Chief Executive Officer Dennis O. Ng said in a media release on Thursday. 

Mober secured the investment from the South East Asia Clean Energy Fund II (SEACEF II), which is being managed by Clime Capital.

The Singapore-based fund manager helps create investment opportunities for companies focusing on green projects.

“Clime Capital’s blended finance model enables clean-energy entrepreneurs to scale their businesses to achieve financial sustainability while also generating positive environmental impact,” said Clime Capital Chief Investment Officer Joshua Kramer.

Mober said the investment will help fast-track the rollout of its electric vehicle (EV) initiative in the Philippines.

“The SEACEF II investment will accelerate the transition of Mober’s delivery fleet to EVs by enabling the company to overcome obstacles to EV adoption, particularly high up-front costs and the current challenges to EV asset financing in the Philippines,” Mober said. 

Mober is targeting to transition all its vehicles to full EV by 2025. It is also working to phase out its internal combustion engine or ICE vehicles by 2027.

Mober is a Philippine-based company that offers delivery services by tapping green-energy solutions. — Ashley Erika O. Jose

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