GreenLine Mobility raises $275 million equity to invest in green logistics

This comprehensive initiative aims to reduce 1 million tonnes of carbon emissions annually.
| Photo Credit: Special Arrangement

Essar Group’s GreenLine Mobility Solutions Ltd., a green logistics operator of LNG and electric-powered heavy commercial trucks, has announced a $275 million equity investment including $20 million investment from investor and entrepreneur Nikhil Kamath to accelerate the decarbonisation of heavy trucking in India. 

GreenLine said it 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.

Anshuman Ruia, Director, Essar said “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.”

Anand Mimani, CEO, GreenLine Mobility Solutions Ltd. said, “GreenLine has been at the forefront of decarbonising India’s heavy trucking industry, making significant progress from the very start.” 

“As leaders in this space, this investment brings us even closer to our vision of transforming India’s road logistics sector. We request India Inc. to embrace this evolving landscape and actively support the transition towards a greener and more sustainable future for all,” he added.

Nikhil Kamath, Investor and Entrepreneur in a statement 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. More companies need to take the leap, adopt green tech, and rethink how we move goods at scale.”