STOCKHOLM: Supply chain services provider Agility has become an investor in Volta Trucks, participating in a Series B investment round of €37 million that also included Luxor Capital, Proterra and original seed investor Byggmästare Anders J Ahlström.
Volta has 2,500 pre-orders valued at €600 million for its Volta Zero 16-tonne electric vehicle. Designed for inner-city pick up and delivery with a range of 150 - 200 kms (95 – 125 miles), first deliveries are expected by mid-2022.
The company says it plans to build four Volta Zero models for European and US markets and expects sales to reach 27,000 units by 2025.
“The successful conclusion of our Series B funding round gives us positive external validation of our journey,” declared Essa Al-Saleh, Volta Trucks CEO and former head of Agility Global Integrated Logistics (GIL). “Attracting several first-time investors, plus increased investment from existing partners totalling €37 million, is a strong endorsement of the path we are on and shows that our investors share and support our development and growth strategy.”
Agility says its Volta investment is part of a broader strategy of investing in supply chain sustainability and resilience that includes partnerships with companies that are developing cleaner commercial vehicles, mass-transit alternatives, freight marketplaces, and digital load-matching platforms – all designed to reduce CO2 emissions.
According to non-profit Transport & Environment, tests in Barcelona and Madrid suggest nearly a third of trucks in Spain exceed the EU’s legal emission limits. Remote emissions testing of Euro VI trucks – the latest EU air pollution standards – between 2017 and 2019 shows that 29 percent of the 587 light and heavy trucks measured are high nitrogen oxide (NOx) emitters.
“New trucks driving in and around Europe’s cities still produce deadly levels of air pollution,” noted T&E emissions engineer Anna Krajinska. “The EU’s trucking standards are not doing enough to safeguard the air we breathe, putting the health of Europe’s citizens at risk.”
“Volta Trucks and Agility share a vision of a zero-emissions future and a determination to make it happen sooner rather than later,” added Agility CEO Tarek Sultan.
Story Type: News