$275 million equity infusion for Essar’s GreenLine Mobility

NEW DELHI: Essar group venture GreenLine Mobility Solutions Ltd, India’s sole operator of LNG- and electric-powered heavy commercial trucks, has announced a $275 million equity investment, to accelerate the decarbonisation of heavy trucking in India.

The invesetment includes $20 million from Nikhil Kamath, marking a significant boost to transformation of India’s logistics, the company said on Thursday. GreenLine aims to decarbonise India’s transportation sector, which contributes nearly 15% of the country’s total carbon emission.

The funding will enable the deployment of over 10,000 LNG and EV trucks, along with the establishment of a nationwide network of 100 LNG refuelling stations, EV charging stations, and battery swapping facilities. This comprehensive initiative aims to reduce 1 million tonnes of carbon emissions annually.

The company offers its logistics services at cost parity with diesel trucks, ensuring that customers can reduce carbon emissions without incurring any additional costs.

India’s road logistics sector, with over 4 million trucks already in operation and continuing to grow, remains one of the country’s most carbon-intensive industries. Aligned with the Indian government’s ambitious goal to reduce greenhouse gas emissions, GreenLine is committed to transitioning India’s heavy-duty vehicle (HDV) fleet to LNG and EV trucks to promote cleaner, more sustainable transport.

GreenLine’s LNG-powered trucks reduce CO₂ emissions by up to 30%, making them a trusted partner for corporates aiming to achieve their sustainability goals. The company’s current fleet of over 650 LNG trucks serves marquee companies across industries such as FMCG & E-commerce, Metals and Mining, Cement, Oil & Gas, Chemicals, etc. The fleet has already covered over 38 million kilometres, reducing CO₂ emissions by 10,000 tonnes.

“We are really excited about this game-changing shift in India’s heavy trucking industry. We see this as an opportunity to not only build the green mobility ecosystem, but also, in the future, invest in clean energy sources to power our electric trucks. This integrated approach will significantly reduce emissions, cut down on energy imports, and help drive India towards achieving a more sustainable, energy-secure future,” the company statement quoted director Anshuman Ruia as saying.

According to GreenLine CEO Anand Mimani, this investment brings the company closer to “our vision of transforming India’s road logistics sector”.

Investor and entrepreneur Nikhil Kamath said, “Green mobility isn’t just a trend; it’s the inevitable future. Backing GreenLine is a bet on that future, where sustainability and efficiency go hand in hand”.

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