ABN AMRO Commercial Finance (“ABN AMRO”) has partnered with GreenUrban Technologies to provide them with a £5m funding facility, comprising of Receivables Finance and the Enterprise Finance Guarantee (“EFG”) – a Government supported initiative through the British Business Bank.
GreenUrban is a leading manufacturer of Emission Control Systems for the Bus, Truck and Non-Road Mobile Machinery (NRMM) industries. Established in 2003 to meet the burgeoning demand for low-emissions technology, GreenUrban has seen this demand rise dramatically in recent months.
With decades of expertise in the commercial emissions-control business, GreenUrban’s innovative products ecoNOxt and ecotrap continue to help fleet operators to comply with ever tightening emissions standards across the UK.
With numerous orders in the pipeline - the funding provided will support GreenUrban to increase production to meet demand as businesses prepare to become compliant in the lead up to the world’s first Ultra-Low Emission Zone which will operate from 8 April 2019 in Central London.
Nigel Standley, Founder & Managing Director of GreenUrban said, “We were impressed with ABN AMRO’s commitment to supporting our growth opportunity. The team’s commercial and collaborative approach enabled them to structure a reliable and flexible finance solution. We look forward to working together as we continue our growth trajectory.”
Phil Betts from Primary Asset Finance said:
"As a preferred and trusted funding provider - we knew straight away this was an opportunity that ABN AMRO would understand and support. Their use of the EFG is second to none in the industry and this type of growth story is exactly what the scheme was built for. Once again, the team delivered on their promises."
John Hunter, Sales Director at ABN AMRO added, “We were really pleased to work with Primary Asset Finance, who provided us with a comprehensive Investment Memorandum, allowing us to make a quick decision and provide GreenUrban with a flexible funding solution. This funding package will enable GreenUrban to continue to invest in their manufacturing processes, add value to their clients working towards compliance and ultimately provide cleaner air for generations to come.”