FirstGroup invests £1m in KleanDrive EV conversion tech
Transport giant FirstGroup has announced a £1 million investment to support the development of EV conversion technology for heavy commercial vehicles.
FirstGroup Energy Limited – the investment arm of the transport operator – is injecting the money into KleanDrive, a UK-based leader in the conversion of heavy vehicles such as buses and HGVs.
Converting ICE heavy vehicles to electric power is seen as a cheaper and more sustainable way to cut fleet emissions. The firms behind the technology argue that heavy fleet operators can drastically reduce emissions, cut their operational costs, and extend the lifecycle of their current vehicles all for less money than replacing their vehicles with brand-new EVs.
EV retrofitting of classic cars is already a huge business and several companies, including Bedeo and Lunaz also offer conversion systems for light and heavy commercial vehicles to help extend their usable lives.
Faizan Muhammad, investment director of FirstGroup Energy Limited, said: “This transaction represents our first venture investment and is consistent with our focus on accessing new and innovative solutions through targeted investments. KleanDrive’s cutting edge technology offers a complementary option, and greater coverage, to support fleet operators in their decarbonisation efforts.”
KleanDrive’s retrofit systems are modular and brand-agnostic, meaning they can be configured for and fitted to a huge range of buses, coaches and trucks regardless of the make or model.
Joe Tighe, CEO of KleanDrive, said: “”We are delighted at FirstGroup’s investment and as part of this we welcome Faizan Muhammad onto the board as both a strategic investor and a partner in driving the future of zero-emission transport.
“We are offering fleet operators across the UK a real, actionable pathway to decarbonise—without waiting years for new vehicles. Repowering existing fleets with the latest electric technology allows operators to extend vehicle life, reduce emissions, and materially lower costs.”
