FirstGroup’s Project NextGen strategic partnership with Hitachi ZeroCarbon (HZC) has been named the winning deal in the IJGlobal 2023 Awards ‘Innovation of the Year – Europe’ category. The award was presented at the IJGlobal Awards 2023 held in London yesterday.
The winning deal, that saw the creation of a new joint venture between FirstGroup Energy Limited and HZC, was established to finance the acquisition of up to 1,000 batteries to be leased to FirstGroup for use in electric bus fleets.
The strategic partnership will enable FirstGroup to deliver its long-term commitment to decarbonise its bus fleet as well as apply its scale and capability in working with HZC to participate in the wider transport sector transformation to electric vehicle fleets.
The IJGlobal Awards recognises deals that closed in the 2023 calendar year across the globe in the many different sectors that combine to reflect infrastructure and energy as defined by this title and (largely) the market, and the organisations that made them happen.
Ryan Mangold, FirstGroup Chief Financial Officer said: "We are delighted that our partnership with Hitachi has been recognised by the IJGlobal awards. The pioneering alliance is a major strategic partnership for FirstGroup as we progress towards our ambitious 2035 decarbonisation target for our bus fleet. This opens up exciting possibilities for future value creation through delivery of decarbonisation solutions for transport operators worldwide, leveraging our joint experience. “