ComfortDelGro Australia gets ‘green’ loan to fund hybrids

ComfortDelGro Australia has secured a ‘green’ loan from OCBC Bank to finance a fleet of 50 hybrid buses in the state of Victoria.
By Ben Spencer February 24, 2020 Read time: 1 min
ComfortDelGro Australia receives funding for hybrid buses (Source: ComfortDelGro Corporation)

The manufacturer says each bus features a Volvo Paralell Hybrid driveline which reduces nitrogen oxide and particulate matter by up to 50% and lowers fuel consumption by up to 39% in mixed traffic.

Elaine Lam, head of global corporate banking at OCBC, says: “We hope this green loan by ComfortDelGro sends a positive message to encourage peer industry players to take steps to support sustainable urban development through green financing options.”

Delivery of the hybrid buses has already started with the last batch expected in mid-2022.

 

Mass Transit & MaaS

For more information on companies in this article

Related Content

  • Economic stimulus packages - shift in emphasis on exit strategies
    July 19, 2012
    Jack Short of the International Transport Forum discusses the role of stimulus finding and the path in and out of recession. The US Government has grabbed many headlines with the American Recovery and Reinvestment Act (ARRA), its response to the need to do something to prevent stagnation in the face of the recent economic downturn.
    Read More
  • EDP invests €500,000 to develop Fuelsave solution
    September 6, 2019

    Energy company EDP has invested €500,000 in Portuguese start-up Fuelsave to help truck drivers save fuel, which it claims takes up 40% of transport companies’ budgets.

    Fuelsave is developing a solution that is expected to optimise truck driving and save up to 20% on fuel. It collects and analyses electronic data from each truck to help understand the different driving parameters that impact fuel consumption.

    Read More
  • Illinois EPA funds cleaner transport options in Chicago area
    December 13, 2018
    The Illinois Environmental Protection Agency (EPA) has pledged approximately $19 million in its first round of funding to help transit agencies invest in cleaner modes of transport. This initial round has been distributed to local companies as part of the Driving a Cleaner Illinois Programme – an initiative which seeks to improve air quality in the state by removing old diesel engines from service. Funding is expected to provide clean air benefits for working families and children in ‘environmental jus
    Read More
  • US economic stimulus package highlights ITS technology
    July 17, 2012
    US Secretary of Transportation Ray LaHood talks to ITS International about economic stimulus funding and the absolute need to maintain and increase the use of technology in transportation. Of the total of $787 billion of funding announced under the American Recovery and Reinvestment Act (ARRA), the economic stimulus package which was signed into law by US President Barack Obama on 17 February 2009, $48.1 billion will go to the US Department of Transportation (USDOT). Of that, $27.5 billion is for highway in
    Read More

Highlighted Content