$700m CleanTech manufacturing hub for electric vehicles in NSW

Media Release

In an industry-led initiative, Nexport, the largest supplier of electric buses in Australia, has responded to the NSW Government’s decision to electrify its 8,000 fleet of buses, by sourcing a state-based production facility to develop a 7-star rated zero-emissions production facility for electric vehicles – buses, trucks, logistics vans and cars.

Earlier this year, TrueGreen purchased a 51-hectare site within an enterprise zone at Moss Vale in the Southern Highlands and is planning to invest $700m in a smart advanced manufacturing base and eco-village where it will build electric vehicles and support other CleanTech businesses and projects. It is expected to create more than 2,000 new skilled jobs over the next five years.

It follows a 2020 parliamentary inquiry and the testing of a significant number of Nexport buses in metropolitan Sydney.

Nexport is majority owned by TrueGreen Impact Group (TrueGreen), an active investment group that has developed a portfolio of best-in-class positive CleanTech companies.

Nexport’s CEO, Luke Todd, said TrueGreen was focused on driving change by backing Australia’s most innovative CleanTech businesses across industry verticals that will help lead Australia’s future prosperity and generate positive environmental and social benefits.

“TrueGreen and Nexport are planning to bring automotive manufacturing back to Australia with the next generation of cost-effective electric vehicles,” Mr. Todd explained.

“It’s vital to Australia’s long-term future and prosperity that we look for advance CleanTech manufacturing opportunities that we can export to other countries,” said Mr Todd.

In September this year, during COVID-19, TrueGreen undertook a large stage one capital raising, and added a number of investors, including Nick Politis AM and Rob Casson.

To date, it has a number of CleanTech businesses in its portfolio including: Nexport; Gemilang, Australia’s leading lightweight bus builder, Marinescapes, a Victorian-based manufacturer of HDPE commercial-grade boats and floats; Viridi, a manufacturer of cross-laminated timber, modular and component-based sustainable materials to deliver residential and commercial buildings; Metsquare, a tier-one contractor providing turn-key structural forming solutions in the construction and civil segments, Consystex a supplier of recyclable flexible forming materials: and ISCA, an Indigenous capital and management platform, providing funding and commercial solutions to indigenous enterprises and traditional owners. Warren Mundine AO acts as an advisor to this group.

TrueGreen is in late-stage negotiations with a number of other cleantech businesses across its various investment verticals which include mobility, construction, plastic-free materials, land rehabilitation, renewables and Indigenous participation.

TrueGreen has a strong pipeline of CleanTech investment opportunities as it focuses on its next stage of growth.

Image credit: www.truegreengroup.com