Subscriber Login

Asia Pacific News

TrueGreen secures additional funding for its transport and technology group Nexport [free access]

July 28, 2021

TrueGreen Impact Group (TrueGreen), an active impact investor, has secured USD110 million in new funding for its transport and technology group, Nexport Mobility (Nexport). Tor Investment Management has provided the new funding. Burnvoir Corporate Finance Limited was the financial advisor for the funding process.

 

The funds will be used as growth capital for Nexport. The company will locally produce electric vehicles (EVs) in conjunction with BYD Auto Company Limited (BYD). The company’s production plans will assist the New South Wales (NSW) government in implementing its plan to transition to an electric bus fleet and to introduce a diverse range of mobility product offerings to the corporate and consumer markets.

 

The latest funding round follows the completion of a successful raising of capital in May 2021, when Nexport secured USD20 million from the St Baker Energy Innovation Fund.