Investment Plan for Europe: A €35 million EIB loan will support the electrification of rental fleets and sustainable last-mile distribution for the Spanish company GAM

EU funding will also drive GAM's digitalization and the training provided at its trade school, Kirleo

The agreement is backed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe

The European Investment Bank (EIB) will provide a loan of 35 million euros to the Spanish multinational to support the electrification of its rental fleet and the development of more sustainable last-mile solutions carried out by its subsidiary Inquieto. Additionally, the loan will drive the digitalization and development of Kirleo, the company’s trade school, thereby supporting training and the development of digital skills within the company. The EIB loan is backed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe, and aligns with GAM's strategic focus on innovation and sustainability.

With the support of the EIB, backed by the EFSI, GAM will increase its investment in new equipment with high energy efficiency and state-of-the-art electric vehicles, replacing the last units of its fleet with a higher carbon footprint. A more up-to-date, innovative, and electric fleet will help minimize CO₂ emissions, a goal GAM has been working towards for several years.

Moreover, the funding will facilitate the expansion of Inquieto's current fleet, GAM’s zero-emissions vehicle company for last-mile distribution, which is crucial in today’s e-commerce boom and will help advance towards a sustainable urban model.

The project also stands out for its promotion of the circular economy, encouraging the use of state-of-the-art assets on a rental basis. With these investments, GAM will increase the availability of its fleet and achieve a higher average utilization rate of rental equipment.

The Vice President of the EIB, Ricardo Mourinho Félix, stated: “We are pleased to sign this first EIB transaction with GAM. This loan will contribute to the energy transition through the development of a decarbonized circular economy. With the support of the European Fund for Strategic Investments (EFSI), we are accelerating the financing of the replacement of equipment with electric and low-carbon emission engines, not only advancing sustainable mobility in Spain but also facilitating sector digitalization and helping to create jobs.”

The European Commissioner for Economy, Paolo Gentiloni, remarked: “This EIB loan, backed by the Investment Plan for Europe, supports a company especially active in the industrial machinery sector like GAM, and is great news for further boosting sustainability and innovation in Spain and across the EU. It not only allows the company to advance in sustainability by electrifying its rental fleet but also promotes a circular economy strategy in the sector by fostering the development of rental solutions and services. Furthermore, the funding enhances digital training within the company, enabling workers to acquire the skills necessary for industrial transformation.”

Meanwhile, Antonio Trelles, CFO of GAM, said: “This loan represents an improvement in diversifying our funding sources and will help accelerate our plans to minimize GAM’s CO₂ emissions, one of our strategic priorities. We greatly appreciate the EIB’s confidence in enabling us to advance our digitalization strategy and, of course, our commitment to sustainability and society”.

GAM's investments will also impact other strategic areas of the company, digitalizing its processes, which will enhance its competitiveness in the sector. Another area benefiting from this loan is GAM's digital trade school, Kirleo. The non-regulated professional training offered will be strengthened through innovative tools, allowing students to update their knowledge across various work areas or reorient their careers. This ‘re-skilling’ and ‘up-skilling’ of students will improve their performance and enable them to acquire highly sought-after technical knowledge in the market. Enhancing knowledge will not only help GAM retain and attract talent but also boost its competitiveness.

The implementation of these investments will have a positive effect on employment. According to EIB estimates, over 100 people will be hired annually during the implementation phase and 68 full-time jobs will be created.

This financing is the first agreement signed between the EIB and GAM and is backed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.