Wrightbus secures £26m UK Export Finance support

News

Wrightbus has been provided with an 80 per cent guarantee on its major financing deal from Barclays by UK Export Finance.

Wrightbus' StreetDeck Hydroliner
Wrightbus' StreetDeck Hydroliner - Wrightbus

The government guarantee is on an £18m Green Trade Loan and £8m Green Bank Guarantee which will allow Wrightbus to export its zero emission buses to new markets.

Based in Ballymena, Wrightbus introduced the world’s first hydrogen-powered double deck bus in 2020, and produces electric-powered single and double-deck buses for export globally. The business is aiming to manufacture 3,000 zero-emissions buses by 2024, which comprises 10 per cent of the UK’s total fleet.

In a statement, Ben Werth, Wrightbus Chief Commercial Officer, said: “At Wrightbus, we are entering the next stage of our ambitious growth plan, significantly growing our export volume from our UK base and becoming one of the leading battery electric and hydrogen bus manufacturers in Europe.”

With orders of over 200 buses from customers, such as the National Transport Authority in the Republic of Ireland, UKEF and Barclays support has enabled Wrightbus to scale up production to meet this demand.

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