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Splend nabs fresh funds from Clean Energy Finance Corporation

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The new funds will be put towards taking Splend’s overall Australian fleet to over 5000 vehicles by the end of the year, with more than 2000 being zero-emission EVs.

The Clean Energy Finance Corporation has injected another $20 million into Splend, bringing its total CEFC finance to $40 million, following an earlier investment in 2023.

The new funds will be put towards taking Splend’s Australian fleet to over 5000 vehicles by the end of the year, with more than 2000 being zero-emission EVs. This expanded EV fleet is projected to reduce emissions by over 15,000 tonnes per year compared to a conventional gasoline-powered fleet. “Electrifying transportation is crucial for achieving zero-emission mobility, and ride-share is a key battleground,” Splend chief executive Chris King said.

“We had under 500 EVs on the roads one year ago in NSW. With CEFC’s $40 million backing, we’ll finish 2024 with over 2000 EVs nationwide, providing affordable, sustainable transport across Australia.”Since its EV rollout in late 2022, Splend claims to have already eliminated over 3000 tonnes of CO2 emissions.

“The outstanding deployment success under our initial Splend investment demonstrates the strong demand for EVs among ride-share drivers and their customers,” Ian Learmonth, CEO of the CEFC, said.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.is a co-editor of the Street Talk column.

 

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