Spanish multinational GAM has secured a €35 million (£30m) loan to switch its rental fleet to electric alternatives and develop more sustainable last-mile delivery solutions.
The loan from the European Investment Bank (EIB) will enable GAM to invest in new energy efficient equipment and advanced electric vehicles (EVs), helping the company to reduce its carbon emissions.
It will also help GAM’s subsidiary, Inquieto, to expand its fleet of zero-emission vehicles for last-mile delivery.
In addition, the loan will be used to digitalise and develop Kirleo, the company’s vocational training school, supporting digital skills development and training at the firm.
Antonio Trelles, GAM’s Chief Financial Officer said: “This loan diversifies our sources of funding and will help us expedite our plans to minimise GAM’s CO2 emissions, one of our strategic priorities.
“We greatly appreciate the EIB’s faith in our company, which will enable us to pursue our digitalisation strategy and of course, enhance our commitment to sustainability and to society.”