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European Energy Efficiency Fund Invested in Dancer Mobility

14 Apr 2020

European Energy Efficiency Fund (EEEF), an investment vehicle by the European Commission, has invested into Dancer Mobility, a sister company of Vejo Projektai that creates and manufactures fully electric Dancer buses.

The investment was carried out together with Vejo Projektai, a German-Lithuanian company, that recently sold two of its first electric buses to the Klaipeda city municipality, Verslo Zinios, the main Lithuanian business daily, reports.

“The company will firstly focus on the Lithuanian municipalities that should be able to benefit from new environmentally friendly possibilities to develop their transport fleets first. EEEF, as one of Dancer Mobility’s shareholders, seeks to foster the development of sustainable energy and to fight climate change,” Alvydas Naujenas, the chairman of Vejo Projektai, said to the BNS news agency.

Dancer Mobility will finance the procurement and the operations of electric buses, and so municipalities will be able to pay only for rent, while the maintenance will be carried out by other members of Vejo Projektai group.

“Operating lease will cover a full-scale electric transport solution for cities: Dancer buses, full maintenance, charging infrastructure and the supply of renewable energy. Such a broad array of services has never been seen in the market before,” A. Naujekas states.

Dancer’s group also includes Elekrines Transporto Sistemos, a company carrying out R&D. Both R&D and manufacturing take place at Klaipeda FEZ.

EEEF now owns 80% of Dancer Mobility, while the remaining 20% belong to Vejo Projektai. EEEF’s projects are being administered by DWS, an investment banking arm of Deutsche Bank.

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