Suma Capital closed on February 26th 2018 the second investment of its Sustainability Fund SCEEF II. It is its first investment in the field of sustainable mobility. The scope of the Fund is to be the Financial Partner of companies willing to invest in Energy Transition and Circular Economy. In this case, the targeted company is Grupo Cooltra, a leading two-wheel fleets manager in Europe.
The agreement between the two companies represents an initial investment of 5 million euros to finance the mobility assets necessary to accelerate the growth of eCooltra, a subsidiary of the Cooltra Group, which is the leading group in Europe in the scooter sharing industry. The investment consists of financing, in a first phase, more than 1,000 electric motorcycles, including the associated recharging infrastructure, that will mainly operate in Barcelona and Madrid, where the proposal of scooter sharing represents a sustainable solution to environmental problems caused by the generalization of the use of private vehicles as a means of transport.
eCooltra’s shared electric scooters solution has a positive impact on cities. In 2017, the company managed to save 277 tons of CO2 in the 4 cities where it operates (Madrid, Barcelona, Lisbon, Rome), which has the same effect as planting 13,000 new trees. Among the different benefits that the eCooltra sustainable mobility system offers, are:
• Reducing emissions and improving energy efficiency: eCooltra is committed to feeding its motorcycles only with renewable energy sources, which prevents greenhouse gas emissions in cities.
• Reduced traffic and congestion: the eCooltra scooters multiply by 4 the trips that a private vehicle makes daily, which reduces significantly the number of vehicles circulating in the city.
• Noise reduction: electric vehicles, and in particular scooters, are quieter than combustion vehicles.
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