Mober gets P350M to expand EV fleet, add charging facility

Mober gets P350M to expand EV fleet, add charging facility | Daily Tribune

Mober, a frontrunner in green logistics services in the Philippines, has secured a $6-million (P350 million) investment from the South East Asia Clean Energy Facility II managed by Clime Capital, a Singapore-based fund manager focused on accelerating the low-carbon transition.

Mober, in a statement, said that the new funding, through both equity and convertible notes, will expand its fleet of electric vehicles (EVs) to 238 and help establish a new 3,000 square meters charging facility by early 2025.

Leading the charge in sustainable logistics, Mober serves top-tier clients like IKEA, Kuehne+Nagel, Nespresso, Monde Nissin, Nestle, Maersk and SM Appliance Center with an entirely electric EVs.

Moreover, it said the company is enhancing its technological competitiveness with the development of a cutting-edge Battery Management System to increase the efficiency and lifespan of its EVs.

To support its long-haul operations, Mober will strategically place pocket charging points across Luzon’s northern and southern regions.

The company sources its EVs directly from original equipment manufacturers, tailoring each vehicle to specific operational requirements to ensure maximum efficiency and reliability.

Dennis Ng, CEO of Mober, said, “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 toward achieving our ambitious sustainability goals. We are deeply thankful to Mason and Joshua for their trust and commitment to our vision.”

In addition to its environmental initiatives, Ng said Mober is committed to fostering inclusivity by training female drivers and assemblers, underscoring the company’s dedication to workforce diversity.

Mober also takes pride in its EV drivers, known as Green Delivery Specialists, who exemplify the company’s commitment to high standards of service and sustainability, according to Ng.

Joshua Kramer, chief investment officer at Clime Capital, said, “We are delighted to provide much-needed capital in this first-of-a-kind EV investment in the Philippines. Clime Capital’s blended finance model enables clean-energy entrepreneurs to scale their businesses to achieve financial sustainability while also generating positive environmental impacts.”

Mason Wallick, chief operating officer at Clime Capital, for his part, noted, “Mober’s ambition to provide fully electric B2B delivery services is a compelling example of a first-mover business that can accelerate the low carbon transition through our strategic investment. Clime Capital’s purpose is to help these businesses accelerate their growth.”