Philippine EV startup Mober drives innovation in green logistics with PHP350M Clime Capital investment

06 June 2024 Manila, Philippines — Mober, a frontrunner in green logistics services in the Philippines, has garnered an investment of up to US$6 million, or around PHP 350 million, from the South East Asia Clean Energy Facility II (SEACEF II), managed by Clime Capital, a Singapore-based fund manager focused on accelerating the low-carbon transition. This new funding, through both equity and convertible notes, will bolster Mober’s fleet of electric vehicles to 238 and help establish a new 3,000 sqm 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 a fleet that is entirely electric. The company is also enhancing its technological edge with the development of a cutting-edge Battery Management System (BMS) 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 (OEMs), tailoring each vehicle to specific operational requirements to ensure maximum efficiency and reliability.

Dennis Ng, CEO of Mober, stated, “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, 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 (GDS), who exemplify the company’s commitment to high standards of service and sustainability.

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, said, “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.”

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