Acquisition targets low carbon fleet transition

Kiwi sustainable fleet financing and advisory business, Carbn, has acquired electric mobility company Zilch, with the aim of helping businesses reimagine how they manage their transportation.

Carbn CEO Shaun Drylie (pictured) says the acquisition is a big step forward, linking the innovative financing and sustainability advice services of Carbn with the car-sharing technology and state-of-the-art fleet management services of Zilch.

“This is a powerful combination that will speed up our shared purpose of transitioning New Zealand to low-carbon transport and greater optimisation, efficiencies, and reduced corporate and government fleet sizes,” he says.

“As well as providing fleet technology, advice, and financing, we can now also provide EV car sharing services, making us a one stop shop for organisations looking to reduce their fleet emissions.”

“This acquisition creates significant expansion opportunities for the Carbn Group and we look forward to expanding our partnerships, including with investors, who want to be part of this exciting future.”

Carbn was founded in July 2020 and works to reduce fleet emission through advisory services and finance solutions.

Zilch and Carbn have worked closely together since Carbn’s inception and have joint clients including ASB Bank, Genesis, and Xero.

“We’re rethinking the entire private and corporate car ownership model New Zealanders take for granted because it’s broken,” says Samantha Sharif, Chair of Carbn Group.

“The reality is that having a fleet vehicle for every potential driver is not sustainable or a good use of resources. The work we’re doing is helping businesses operate more efficiently – and reduce their carbon footprint. A win/win for everyone.”

Zilch co-founder Kirsten Corson (and incoming chair of Drive Electric), says the sale of Zilch to Carbn will allow their early vision to be realised.

“We’ve always been at the forefront of pushing for a greener New Zealand, and with this sale, we know that Carbn will be able to accelerate this transition,” says Corson.

Zilch CEO and co-founder David Jenkinson says, “I’m incredibly proud of what we have achieved and built at Zilch over the past five years and we are pleased to be able to sell Zilch to a business that has shared values and we had a part in creating.”

Carbn empowers businesses to transition their fleets to low carbon solutions, by offering transitional advice, flexible finance, and innovative technologies that reduce carbon, but not convenience. It was established in July 2020 and is 92 percent owned by New Zealand Green Investment Finance (NZGIF), New Zealand’s government green investment bank, established with the purpose of accelerating investment to enable Aotearoa New Zealand’s low carbon future.

Carbn’s aim is to help with the acceleration of decarbonisation in New Zealand by thinking differently about transportation, driving real impact, and providing pragmatic solutions.

For more visit www.carbn.nz