Mober secures $6mln funding to expand fleet in Philippines

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Logistics services provider Mober has secured an investment of up to $6 million, or around P350 million, from the South East Asia Clean Energy Facility II (SEACEF II) to boost its electric vehicle (EV) operations in the Philippines.

The funding, through both equity and convertible notes, will bolster Mober's fleet of electric vehicles and help the company establish a new 3,000-square-meter charging facility by early 2025.

SEACEF II is managed by Clime Capital, a Singapore-based fund manager focused on accelerating the low-carbon transition.

'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,' Mober CEO Dennis Ng said.

Mober currently serves clients like IKEA, Kuehne+Nagel, Nespresso, Monde Nissin, Nestle, Maersk and SM Appliance Center with a fleet that is entirely electric.

Mober's goal is to acquire 238 EV units by 2025 and have at least 400 EV units in operation by 2027.

The company is also enhancing its technological edge with the development of a cutting-edge battery management system to increase the efficiency and lifespan of its EVs.

Further, Mober plans to develop a new 3,000-square-meter charging yard on Macapagal Avenue, Pasay City and establish a network of charging points across southern and northern Luzon.

These will support its expanding fleet and enhance the capabilities of its long-haul EVs.

'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,' Climate Capital chief investment officer Joshua Kramer said.

Mober started in 2015 and was initially designed to help small and medium-sized enterprises solve their on-demand logistical needs.

It has grown to become a business-to-business (B2B) platform facilitating sustainable delivery for some of the country's retail giants.

'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,' Climate Capital chief operating officer Mason Wallick said.