EU financing for further electrification

Collé Rental & Sales has signed a €50 million loan agreement with the European Investment Bank (EIB). The Sittard-based company will use the financing for the further electrification of its rental fleet of specialised machinery for the construction sector and industry. The EIB investment will be guaranteed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.

Collé CEO Frits Collé said: “At Collé we say that “blue is the new green”, referring to our company colours. With this EIB financing we take another few steps forward towards that objective.”

For Collé, the financing is part of its fleet replacement initiative, with a focus on investment in electric (where possible) and more fuel-efficient machinery, in order to actively contribute to sustainability targets. The company is a leader in the electrification of its fleet. It cites lower emissions, noise reduction and less pollution (due to a reduction in the use of oil and lubricants) as the main drivers for the shift.

EIB Vice-President Kris Peeters added: “What Collé does in terms of combining demand for heavy machinery with the increasingly urgent need to become more sustainable as a business deserves a lot of praise. Renting machines instead of buying means more efficient use of valuable resources, feeding into much needed circularity and sustainability for the construction sector and industry. I’m glad that the EIB can support Collé in these plans and look forward to seeing more Dutch companies taking such important steps towards environmental sustainability.”

European Commissioner for the Economy Paolo Gentiloni said: “This loan from the EIB to Netherlands-based company Collé is a great example of the role that the construction sector can play in supporting the green and digital transition. Backed by the Investment Plan for Europe, the financing will contribute to electrifying Collé’s fleet of rental machinery for the construction sector, and make it more digital. This will not only benefit Collé but also the construction companies that can rent and re-use the machinery, thereby supporting the circular use of equipment in the sector.”

Collé specialises in aerial lifts, ground-moving equipment and material-handling machinery. It will use the EIB financing to invest in electrification and digitalisation, making its fleet internet of things-capable. Collé is actively involved in proposing solutions and testing new electric equipment together with machinery manufacturers.

Background information:

The European Investment Bank (EIB) is the European Union’s long-term lending institution owned by the EU Member States — the Netherlands owns a 5.2% stake. It provides long-term loans for sound investments that contribute to EU policy objectives. Last year, the EIB provided just over €2 billion in finance for projects in the Netherlands.

Founded 120 years ago, Collé is a fourth-generation family-owned company headquartered in Sittard, the Netherlands. Collé rents and sells construction machinery and equipment in the international B2B market. Its rental business has clients in the Netherlands, Germany and Belgium, as well as Luxembourg and Denmark. Its sales business is international, managing deliveries of machinery and equipment in over 78 countries. Collé operates 18 sites, 11 of which are located in the Netherlands and seven in Germany.

The European Fund for Strategic Investments (EFSI) is the main pillar of the Investment Plan for Europe. It provides first loss guarantees so that the EIB Group can invest in projects with a higher level of risk. To date, the projects and agreements approved for financing under EFSI have attracted investments totalling €524.3 billion, benefiting more than 1.4 million small and medium-sized businesses. The Investment Plan for Europe has been succeeded by InvestEU, although some previously approved operations can still be signed.