Breathe EV - Low carbon mobility
Projects
Breathe EV - Low carbon mobility
Energy
Low Carbon Mobility
MEEF provided a debt and equity funding package to support an SME deliver Zero Emission Vehicles to Private High Fleet.
Sector
Energy
Low Carbon Mobility
Location
London, England
Status
Operational
Funding type
Debt - Undisclosed
Financial close
March 2022
Term length
4 year loan
About
MEEF provided a debt and equity funding package to Breathe Cars to fund 100 Tesla Model 3 cars. This was the first MEEF SME deal to crowd in a Commercial Bank, Triodos.
Breathe Cars, a Vehicle as a Service provider to Private Hire Drivers who drive for operators such as Uber, Bolt or Ola was successfully acquired by Otto Cars in July 2023.
Key impacts and benefits
Annual CO2 Reduction
0 tonnes
Low Carbon Mobility Investment
MEEF's 0 th
investment in this sector
Sustainable Development Goals (SDGs)
2030 Agenda for Sustainable Development adopted by UN Member States in 2015
SDGs supported:
Outcomes
- The investment aimed to support drivers to make the transition to zero emission vehicles and help meet the UK’s air pollution and climate goals
- Forecasts predict that the fleet will save 338 tonnes of CO2 being released into the atmosphere per annum, significantly contributing towards cleaner air for Londoners
- This project is an important step in tackling London’s air pollution and supports the Mayor of London’s commitment to zero emission transport in the capital. Every year in London, the equivalent of between 3,600 to 4,100 premature deaths were attributable to air pollution
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