Mober’s Electric Vehicle Fleet Expansion Supported by Clime Capital

Philippine logistics company Mober has secured an investment of up US$6 million from the South East Asia Clean Energy Fund II (SEACEF II), managed by Clime Capital, a Singapore-based fund manager focused on accelerating low carbon transition. 

The SEACEF II investment will accelerate the transition of Mober’s delivery fleet to electric vehicles (EVs) by enabling the company to overcome obstacles to EV adoption, particularly high upfront costs and the current challenges to EV asset financing in the Philippines. 

With a target of a full fleet of 238 EV units by 2025, the company plans to phase out its ICE vehicles and put at least 400 units in operation by 2027. 

Mober is the first mover for EV adoption in the Philippines delivery services sector, providing third-party last-mile and middle-mile delivery services for international and local customers under multi-year, fixed-price contracts. 

Mober’s exclusive use of EVs supports major companies like IKEA, Kuehne+Nagel, Nespresso, Monde Nissin, Nestle, Maersk and SM Appliance Center to decarbonize their delivery processes and achieve their sustainability goals. 

Mober procures its EVs directly from OEMs, customising them to meet specific operational needs. This ensures optimal performance and reliability across their services. To further support its growing fleet, Mober will develop a new 3,000 sqm charging yard along Macapagal Avenue, Pasay City and up set up a network of charging points to the south and north of Luzon, enhancing the capabilities of their long-haul electric vehicles.

In addition to its environmental initiatives, Mober is committed to inclusivity by training female drivers and assemblers, reflecting the company’s dedication to diversity within its workforce. Mober’s drivers, referred to as Green Delivery Specialists (GDS), exemplify the company’s commitment to high standards of service and sustainability.

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 towards achieving our ambitious sustainability goals. We are deeply thankful to Mason and Joshua for their trust and commitment to our vision.”

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 impact.”