Philippine EV Startup Mober Drives Innovation in Green Logistics with PHP350M Clime Capital Investment

Mober, a pioneer in green logistics services in the Philippines, has secured a substantial investment of up to US$6 million (approximately PHP 350 million) from the South East Asia Clean Energy Facility II (SEACEF II), managed by Clime Capital. Clime Capital, a Singapore-based fund manager, is dedicated to accelerating the transition to low-carbon economies. This strategic funding, a mix of equity and convertible notes, is set to expand Mober’s fleet of electric vehicles (EVs) to 238 and facilitate the establishment of a new 3,000 sqm charging facility by early 2025.

As a leader in sustainable logistics, Mober has garnered a prestigious clientele, including IKEA, Kuehne+Nagel, Nespresso, Monde Nissin, Nestle, Maersk, and SM Appliance Center. The company boasts a 100% electric fleet and is advancing its technological edge with the development of a state-of-the-art Battery Management System (BMS) aimed at enhancing the efficiency and longevity of its EVs.

To further support its extensive operations, Mober plans to strategically install pocket charging stations across the northern and southern regions of Luzon. The company sources its EVs directly from original equipment manufacturers (OEMs), customizing each vehicle to meet specific operational needs, thereby ensuring optimal efficiency and reliability.

Dennis Ng, CEO of Mober, highlighted the significance of this investment: “Not all funding is created equal. Having Clime Capital as an investor adds significant credibility to Mober and solidifies our commitment to sustainability. This partnership not only enhances our reputation but also accelerates our progress toward achieving our ambitious sustainability goals. We are deeply thankful to Mason and Joshua for their trust and commitment to our vision.”

In line with its environmental initiatives, Mober is also dedicated to promoting inclusivity by training female drivers and assemblers, showcasing the company’s commitment to workforce diversity. Additionally, Mober prides itself on its EV drivers, referred to as Green Delivery Specialists (GDS), who embody the company’s dedication to high standards of service and sustainability.

Joshua Kramer, Chief Investment Officer at Clime Capital, expressed enthusiasm about the investment: “We are delighted to provide much-needed capital in this first-of-a-kind EV investment in the Philippines. Clime Capital’s blended finance model enables clean-energy entrepreneurs to scale their businesses to achieve financial sustainability while also generating positive environmental impacts.”

Mason Wallick, Chief Operating Officer at Clime Capital, echoed this sentiment: “Mober’s ambition to provide fully electric B2B delivery services is a compelling example of a first-mover business that can accelerate the low carbon transition through our strategic investment. Clime Capital’s purpose is to help these businesses accelerate their growth.”

This investment marks a significant milestone in the Philippine EV sector, reinforcing Mober’s role as a trailblazer in green logistics and setting a precedent for sustainable business practices in the region.