There's been plenty of investment announced this week, with funding flowing into UK manufacturing, hydrogen production, public transport and the software helping operators run more efficiently. Together, the stories highlight the continued pace of development across transport and energy.
Market developments
West Midlands launches £50m fund to strengthen EV supply chains
The West Midlands has introduced a £50m Supplier Readiness and Transformation Fund to help automotive manufacturers and suppliers adapt to growing demand across EV supply chains. Announced at the Advanced Propulsion Centre in Coventry, the programme offers grants of £250,000–£3m, with recipients required to match at least 50% of project costs through private investment. Running for 4 years, the fund will support equipment upgrades, workforce development and expanded production capacity. Backed by the government’s DRIVE35 initiative, it aims to strengthen domestic manufacturing, create high‑skilled jobs and improve the competitiveness of a regional automotive sector comprising around 1,000 companies and more than 30,000 employees.
ITM Power secures government support for next-generation electrolyser production
A £46.5m UK government grant will support ITM Power’s development of a new manufacturing line for its Chronos electrolyser stack technology at its Sheffield facility. The funding complements a previously announced £40m investment from Great British Energy and will create 1GW of annual manufacturing capacity by 2028. The Chronos platform is designed to improve green hydrogen economics through higher performance and lower costs, reducing component numbers by around 50% while doubling power density. Advanced automation will be introduced across key manufacturing processes, supporting efforts to strengthen the UK hydrogen supply chain and accelerate industrial adoption.
Infrastructure & policy
New York launches citywide programme to accelerate bus services
New York City has unveiled Next Stop: Fast Buses, Better Service, a joint initiative led by state and city authorities to improve bus travel across all 5 boroughs. The programme targets 50 priority corridors, with work beginning this year on 5 routes in the Bronx, Queens and Brooklyn. Planned measures include dedicated bus lanes, upgraded waiting areas, improved public spaces and more frequent services. All-door boarding is scheduled for 2027 following the rollout of contactless fares. The MTA also plans to acquire c.2,500 new buses under its 2025–2029 capital programme while expanding accessibility features, real-time information displays and enforcement measures.
Deals
Milo Drive raises seed funding to expand EV fleet management platform
Mumbai-based Milo Drive has secured $2.4m in seed funding from investors including Caret Capital and Antler to support growth of its EV fleet management platform. The company plans to expand its ride-demand network, onboard additional fleet operators and further develop automated charging intelligence capabilities. Designed for electric cab drivers and smaller mobility operators, the platform aggregates demand from multiple channels, optimises route planning and manages charging requirements in real time. Having already facilitated more than one million rides, Milo Drive aims to strengthen its technology offering and support wider adoption of electric mobility services.
Godiva Travel Group acquires Oxfordshire operator OMC Global
Godiva Travel Group has acquired the trading business of coach and minicoach operator OMC Global, extending its footprint across the Midlands and Oxfordshire. Founded in 2006, OMC Global operates across school transport, corporate travel, tours and private hire, with a licence covering 30 vehicles. The business will continue trading under its existing brand with support from both Oxford and Coventry locations. The acquisition adds an established regional operator to Godiva’s portfolio while ensuring continuity for customers and employees, supporting the group’s broader strategy of expansion through established transport businesses.
Bohr Energie secures €10m to scale renewable energy optimisation platform
French energy technology company Bohr Energie has raised €10m in Series A funding led by Suma Capital to expand its renewable energy optimisation platform. Founded in Toulouse in 2022, the company provides software that helps renewable energy producers manage, aggregate and participate in energy markets more efficiently. More than 170 assets currently use the platform, and Bohr aims to oversee nearly 1GW of capacity by year-end. The funding will support expansion across Europe and further development of AI-driven forecasting, optimisation tools, hybrid energy system management and storage solutions designed to improve grid flexibility and renewable integration.
See you next week!