Contributing actively to the green energy transition in the refrigerated food and logistics industry is a goal shared by maxwell+spark and Rabobank, Netherlands. A new credit line extended by the Rabobank Startup & Scale-up Team enables maxwell+spark to enter the next growth stage and speed up this essential transition.
Maxwell+spark designs and manufactures diesel-free transport refrigeration systems and battery systems that help electrify industrial mobility in supply chain logistics. For example, one maxwell+spark advantage.li transport refrigeration system is equivalent to taking about 20 diesel cars off the road in terms of CO2 emissions, and equivalent to taking about 150 diesel cars off the road in terms particulate emissions.
Although already delivering industry-leading battery systems to global customers, breaking into the EU market is a new challenge. Working capital has been one of the biggest barriers to growth. The €900,000 credit line is therefore a welcome step up. Utilising the Rabobank credit facility benefits not only both parties, but the broader community and environment too by significantly reducing carbon emissions in this sector.
Commenting on the partnership Clinton Bemont, CEO, states, “Rabobank understands the need for greentech focused scale-up companies like ours to be supported in the often capital-intensive sustainable energy transition, and sees the future value therein. They understand the Dutch economy and the need to accelerate the green transition in the refrigerated food and logistics industry.”
Rabobank is dedicated to assisting startups and scale-ups on their journey towards success. The Startup and Scale-Up team of specialists works with innovative and rapidly growing companies on a daily basis, understanding their needs and challenges. Robbert Lut, Startup & Scale-up banker, believes that these companies are the most important growth enabler for the economy and employment in the Netherlands due to their innovative strength and contributions to solving societal challenges.
With the support of the Rabobank Startup and Scale-Up team, maxwell+spark is perfectly placed to drive this transformation towards a cleaner, greener future for all.
About Rabobank Startup & Scale-up Team
Startups and scale-ups are the innovators of the economy, contributing significantly to solving societal challenges, and are the main engine for economic growth and employment in the Netherlands. This target group therefore represents great commercial and strategic value for Rabobank. The Startup & Scale-up Team helps entrepreneurs who share this mission to grow sustainably by opening up their (international) network, by providing knowledge and funding.
