Private equity fund Riverstone Holdings LLC has launched integrated Mexican mobility company VEMO to partner with transportation, logistics and mobility industries in Latin America as it seeks to decarbonize operations and accelerate clean mobility in the region.
New York-based management firm Riverstone Holdings LLC invests in private energy transition, decarbonization and infrastructure markets and is now launching Mexican company VEMO which plans to invest US$1 billion in Latin America over the next five years.
"We are very pleased to announce the launch of VEMO and our partnership with Riverstone, one of the most experienced energy investors in the world, who is at the forefront of the accelerating trend towards the global energy transition. To address the clean mobility opportunity, we have brought together a diverse group, combining strong entrepreneurial talent through our acquisitions on the one hand, and the best talent recruited from leading companies in the world on the other,” said Roberto Rocha, Managing Director and Co-Founder, VEMO.
VEMO is headquartered in Mexico City and has consolidated assets, a specialized working team of more than 130 employees, as well as technical and operational capabilities. Its central focus is on environmental, social and governance (ESG) elements.
The new mobility company serves high-use transportation alternatives through competitive clean mobility, including public transportation systems, private companies that make use of commercial fleets, mobility drivers, distributors and last-mile platforms. VEMO operates through engineering, procurement and construction (EPC) contracts and operations and maintenance (O&M) capabilities of recharging infrastructure, as well as IoT tech and fleet management aptitudes.
"At VEMO we are convinced that the transition to clean mobility will achieve great benefits for society as a whole, by providing environmentally responsible alternatives that reduce the carbon footprint of people, companies and organizations, while generating efficiencies and tangible savings. VEMO also promotes the democratization of clean technologies, offering unbanked drivers a solution that allows them to become vehicle owners while helping the environment,” said Rocha.
VEMO’s LinkedIn reports that one of the company’s objectives is to improve urban life’s quality through street noise reduction, cleaner air, accessibility to comfortable trips and sustainable high-impact employment.
The Mexican company has already participated in an MX$47 million green-mobility initiative in Mexico City with Chinese-based Yutong units, Mobility ADO and the city’s Metrobús transportation system, as reported recently by MBN. This project expects the nation’s capital to have the largest investment in electromobility in Latin America.
VEMO also announced earlier this month its coalition with ZEBRA’s initiative which establishes an alliance with international organizations that seek to promote Latin America’s zero-emission bus market and deploy thousands of electric buses improving public health, air quality and reducing climate change. This initiative secures commitments for over US$1 billion for new electric buses in the region aimed to reach climate targets.
Riverstone Holdings LLC was founded in 2000 which created a well-positioned platform that capitalizes on clean energy sources rapid adoption while following decarbonization trends. The firm has established 200 plus global investments totaling US$43 billion, with US$2 billion and 12 investments focusing only on Latin America. The company holds offices in New York, Houston Mexico City, Houston and Menlo Park.