Rock Rail purchases a new fleet of Siemens trains for the Elektronetz Nord-Magdeburg network in Germany

  • Rock Rail

Rock Rail, in partnership with Infracapital and MEAG, is pleased to announce a significant new investment in 16 three-car and 19 four-car Siemens Mireo electric multiple units (EMUs). The trains will be leased to Deutsche Bahn for operation on the Elektronetz Nord-Magdeburg (ENORM) network, serving Magdeburg and Halle.

The Siemens Mireo platform, the company’s flagship commuter train, has established itself as a leading solution across Europe. Rock Rail has already purchased 41 three-car and 18 four-car Mireo units as part of the MDSB programme.

The new ENORM fleet has been designed to deliver operational flexibility, enhanced seating capacity, and compatibility with varying platform heights, while meeting the highest standards of passenger comfort. Key features include:

  • Full compliance with the latest Persons with Reduced Mobility (PRM) specifications
  • Step-free access and non-slip flooring
  • PRM-compliant lavatories
  • Advanced acoustic and visual passenger information systems
  • Safety-focused design with contrasting edges, handles, and LED lighting to illuminate boarding areas and platforms

The ENORM network plays a vital role in connecting Magdeburg and Saxony-Anhalt with Lower Saxony and Brandenburg, supporting both commuter demand and regional connectivity. The introduction of this state-of-the-art fleet is expected to drive passenger growth while delivering greater energy efficiency compared to legacy rolling stock.

This transaction marks the fourth investment for the Marble regional rail platform jointly owned by Infracapital, following the successful financing of fleets for S-Bahn Mitteldeutschland (MDSB) Lots 1 and 2 and the completion of the Mittelthüringer Akku-Netz (MAN) fleet in August this year. In total, this represents Rock Rail’s sixth investment in German rolling stock since 2022, reinforcing our commitment to modernising Europe’s rail infrastructure. MEAG is providing debt financing on behalf of Munich Re Group as well as other institutional lenders.

 

Rock Rail’s continued investment underscores our mission to deliver sustainable, high-quality rolling stock assets that enhance passenger experience and support the transition to greener transport across Europe.

Trevor Sturmy, Partner, Rock Rail, added: “This latest investment demonstrates Rock Rail’s continued commitment to supporting Deutsche Bahn and the wider German rail market with modern, sustainable rolling stock. By expanding our presence through the Marble platform, we are proud to deliver trains that not only enhance passenger comfort and accessibility but also contribute to the long-term decarbonisation of Europe’s transport system. This marks another important milestone in our strategy to provide high-quality rail assets that strengthen regional connectivity and deliver lasting value for passengers and communities.”

Thomas Crawley, Managing Director, Infracapital, said: “Completing our fourth investment in Germany’s rolling stock market marks another important step in the shift towards the development of more sustainable transport in the region. Supported by strong market tailwinds and attractive investment characteristics, we are proud to be building on the strong momentum of the Marble platform as we continue to support the delivery of high-quality, low-carbon transport solutions that benefit passengers and communities across Germany.”

– ENDS –

Media enquiries

For further information, please contact:

Rock Rail
E: [email protected]

Marketing Executive

E: [email protected]
T: +44 (0)203 170 0870

About Rock Rail

Rock Rail is a developer, owner and asset manager of large-scale transport infrastructure. Since 2016, it has secured c.£4 billion of institutional investment in new, state-of-the-art rolling stock across eleven fleets of trains in the UK and Germany, helping transform passenger journeys with newer, greener trains and driving positive industrial change.

 

 

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Driving Net Zero: How Rock Road 
Is Funding the UK’s Bus Transition

Accelerating the shift to clean, affordable, zero-emission transport

Year
2025
Category
Rock Road
Share

The Challenge

The UK bus network is at the heart of everyday travel – but over 30,000 diesel buses still need replacing to achieve a fully zero-emission fleet.

While around 5,000 battery-electric buses are already on the road, the high upfront cost of electric vehicles and depot electrification continues to slow the transition. Traditional funding routes — such as government grants or short-term bank finance – have helped start the journey but cannot support decarbonisation at the scale required.

A new, sustainable funding model was needed: one that could attract long-term capital, spread costs fairly, and give operators and authorities confidence in the future.

The Solution

In 2021, Rock launched Rock Road to deliver exactly that –  applying its proven infrastructure financing approach from the rail sector to the UK’s clean bus revolution.

Working with Aviva, the National Wealth Fund, and HSBC, Rock created a dedicated investment platform that channels infrastructure-style finance from pension funds and institutional investors directly into zero-emission bus projects.

This model provides:
  • Access to billions in long-term private capital for fleets and depot electrification.
  • Low-cost, sustainable finance tailored to public-sector needs.
  • Comprehensive risk transfer, including residual value and battery performance, supported by Rock’s in-house team of engineers and asset managers.

Impact

The platform has already raised £100 million, with capacity to scale to £1 billion per year over the next decade – providing a consistent source of affordable capital for local authorities and operators.

Rock’s model ensures that the total cost of ownership (TCO) of electric buses can now be lower than diesel equivalents, thanks to both cheaper long-term finance and reduced operating costs.

In London, Rock has financed 120 zero-emission buses under 7-year leases aligned with Transport for London’s contract lengths. This structure gives operators flexibility and certainty:

  • Buses can be returned, renewed, or upgraded at the end of term.
  • Lease rates are predictable and capped.
  • Ownership and residual risks sit with Rock, not the operator.

The Future

Rock Road’s ambition is to support the rollout of zero-emission fleets across the UK – helping local authorities and operators meet climate goals without overextending public budgets.

By leveraging limited government funding to attract large-scale private capital – for example, £10 million of public investment unlocking over £250 million in total funding – Rock’s model accelerates decarbonisation while keeping costs low for the public sector.

Our ambition is to make electric buses the default choice - not because of subsidy, but because they are the best economic and environmental option.
Louis Swindell
Commercial Director, Rock Road