Zenobē has announced the funding of more than 280 electric buses under a committed finance framework agreement (CFFA) with bus operator Go-Ahead.
The move aims to reduce the cost, complexity and execution of fleet electrification across Go-Ahead’s operations.
First coming together in 2021; Zenobē and the Go-Ahead Group (GAG)’s CFFA is the first of its kind in the bus industry, and will provide GAG with a pre-agreed, scalable credit line capable of being drawn down as required in order to support its fleet electrification programme.
To date, over 280 vehicles from four different OEMs have been funded as part of the CFFA – marking a milestone in GAG’s goal of electrifying its entire fleet by 2035.
The CFFA seeks to enable faster access to funding, replacing the need to enter into repeated negotiations and executing individual lease agreements – a process typically slowed by administration and complexity – allowing funding to be drawn down quickly under pre-agreed terms.
Steven Meersman, Founder and Director, Zenobē, said:This agreement marks a significant step forward in how public transport operators can finance the transition to zero-emission fleets. We’ve worked closely with Go-Ahead for many years, and this first-of-its-kind framework gives them the flexibility, speed and cost certainty they need as electrification accelerates.
The move away from diesel buses is inevitable – the question is how quickly operators can scale. By removing repetitive negotiations and enabling funding to be drawn down rapidly under pre-agreed terms, we’re making it easier, faster and more cost-effective to deploy electric vehicles at scale, while allowing operators to stay focused on running their networks.
