Commonwealth Bank to provide $80 million asset funding for electric school buses in Australia (through GoZero)

Commonwealth Bank (CBA) has closed $80 million in asset finance facilities with GoZero Group. The financing is being utilised in part to source and ultimately replace existing diesel school charter coach services with electric buses for independent schools in Sydney, including Queenwood, Knox Grammar and Scots College, through GoZero’s charter business the NSBC Group.

Founded in 2020, GoZero is a leading manufacturer and integrator of Zero Emission solutions and vehicles for business and government fleets.

GoZero aims to introduce 1,000 electric coaches

GoZero’s GreenSchools1000 initiative aims to roll out 1000 electric coaches to service schools across Australia.

“There has been an increased appetite for electric buses in the schools market”, said Stephen Cartwright, CEO of GoZero. “Schools are not only interested in reducing their carbon emissions, they also want a healthy and safe environment for students. With zero fumes and all coaches being seat belted, the GoZero electric coaches help with the overall health and well- being outcomes for students.”

Jane Thomson, General Manager, Major Client Group NSW at CBA: “CBA is proud to be part of GoZero’s electrification initiative. As Australia’s leading business bank, we’re committed to supporting businesses, projects and assets that will drive our nation’s transition to a brighter, more sustainable future. Financing GoZero’s electric coaches is one of the many ways we’re delivering on our Sustainability Funding Target and supporting mid-market companies with progressing toward their net zero ambitions”.