Business & Startups

EIB backs Bucharest-based mobility service provider Autonom with €15M: Know more | Silicon Canals

Bucharest-based Autonom Group, a car rental company, announced on Tuesday, September 27, that it has received €15M from the European Investment Bank (EIB), marking the EIB’s first investment in green business transport in Romania.

Autonom says the funds will help it to accelerate the transition to using low-emission vehicles in Romania and help businesses reduce carbon emissions. 

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The capital will also enable the Romanian mobility service provider to use more electric and hybrid vehicles, which are currently in limited supply for long-term business use. The company will acquire 895 low-emission vehicles – 705 electric and 190 hybrids. 

EIB says low-carbon vehicle leasing will help business users to save money and reduce carbon emissions. Autonom is also planning to install solar panels and electric charging stations in selected offices throughout the country to power vehicles.

Autonom: What you need to know

Autonom is a car rental company with coverage in 46 locations in 33 cities, and a fleet of over 12.000 new cars. The company offers its customers – companies and individuals – a variety of mobility and financial solutions, including  rent-a-car, operating lease, equipment lease, road assistance, transfer services, and fleet management. 

“Today marks a milestone in Romania’s green transition of Autonom and transport. The first cooperation with the European Investment Bank will enable €15M of visionary new investment in green business transport that will cut carbon emissions and reduce pollution across our country,” says Marius Stefan, CEO and co-Founder of Autonom.

EIB: What you need to know

The EIB is the European Union’s long-term lending institution owned by the EU Member States. It offers long-term loans for investments that support EU policy goals. 

Infrastructure, innovation, climate and environment, and SMEs are the bank’s top priority project funding areas. Last year, the European Investment Bank Group provided €907M for new investments across Romania.

Over the last 31 years, the EIB Group has provided more than €18B for public and private sector investments across Romania.

“Transport represents almost a quarter of Europe’s greenhouse gas emissions and is the main cause of city air pollution. The new EUR 15 million European Investment Bank financing to Autonom will enable 895 green vehicles to be used for business transport across Romania. This new cooperation shows how climate action can be an integral part of business investment,” says Christian Kettel Thomsen, European Investment Bank Vice President.

This year, the EIB has backed Germany’s largest automotive supplier MAHLE, Netherlands-based Collé Rental & Sales, Polish biopharmaceutical company Ryvu Therapeutics, Finnish self-driving tech startup Sensible 4, and more.

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