Invest-NL, an Amsterdam-based financing and development institution, has joined forces with the European Commission’s Alternative Fuel Infrastructure Facility (AFIF) to enhance the sustainability of public transport in the Netherlands. This collaboration aims at fostering a transition to zero-emission transportation, which aligns with broader environmental goals. The partnership involves a significant financial commitment to replace diesel buses with electric alternatives, thus contributing to reducing greenhouse gas emissions. The initiative stands to benefit not only the environment but also the economic landscape by supporting sustainable innovations.
What is the Goal of the Partnership?
The partnership between Invest-NL and the AFIF was formalized through a deal announced today, which includes a €5 million loan from Invest-NL. The funding supports Qbuzz bv, a public transport provider, in its shift from diesel to electric buses. This project also involves a €3.9 million subsidy from the AFIF and €5.9 million from Qbuzz itself. The objectives are to expedite the electrification process of public transport across the Netherlands and to significantly curb CO2 emissions. Leo Holwerda, Director of Capital at Invest-NL, emphasized the project’s alignment with their mission to support sustainable innovations.
“This investment in the transition to zero-emission public transport fits in seamlessly with our mission to finance sustainable innovations in the Netherlands.”
Who is Qbuzz and What Role Do They Play?
Founded in 2008, Qbuzz is a major public transport provider in the Netherlands, offering services to over 350,000 passengers daily. As a subsidiary of Busitalia, the company places a strong emphasis on sustainable and passenger-oriented solutions. The partnership with Invest-NL will allow Qbuzz to install 386 new charging points, including fast-charging stations. These developments are expected to overhaul the current network, reduce grid congestion, and contribute significantly to environmental objectives.
In previous reports, Invest-NL’s commitment to sustainability and innovation has been highlighted. The firm was noted for its long-term strategies, which focus on societal and environmental benefits, supporting visionary entrepreneurs. The firm’s history of leveraging European funds and taking responsible risks has positioned it as a crucial player in making ambitious projects feasible.
The impact of this investment includes the installation of charging infrastructure and the replacement of more than 400 diesel buses with electric ones in specific regions. These changes are projected to reduce CO2 emissions by 38 million kilograms annually. The initiative is part of a broader ambition to achieve emission-free public transport by 2030, offering both ecological and economic gains.
Qbuzz, supported by Invest-NL and the European Commission, exemplifies a commitment to modernizing public transport and reducing greenhouse gas emissions. This collaboration reflects a shared vision to prepare the Dutch transport system for the future, aligning with national and international sustainability targets.
Invest-NL’s role extends beyond this partnership, with its recent announcement of €900 million in additional government funding through 2029. The funds will bolster its core capital and expand blended finance activities, underscoring its pivotal role in supporting startups and national security projects. This strategic funding initiative signals Invest-NL’s dedication to contributing to the Netherlands’ future economic landscape.
Overall, the partnership between Invest-NL, AFIF, and Qbuzz represents a significant stride toward sustainable public transport. The project shows how strategic investments can accelerate the transition to electric transport, benefiting both the environment and the economy. As Invest-NL continues to receive government support, its capacity to drive innovation and sustainability will likely expand, creating more opportunities for green projects in the Netherlands.
