Rock Rail Germany helping transform passenger rail travel

Since 2019, Rock Rail Germany has secured over £1.5 billion of investment across 6 new rolling stock fleets, with more now in development.

These state-of-the-art trains are enhancing passenger journeys, supporting sustainability, and revitalising Germany’s rolling stock market.

Transforming tomorrow’s 
infrastructure
today

Our global collaborations

Rock Rail Germany combines global expertise with local insight

We work with leading manufacturers and operators to deliver cleaner, more efficient passenger-focused fleets

Key partnerships include:

  • Alstom Coradia Stream HC EMUs for service on the Coradia Max Main-Weser network
  • Siemens Mireo EMUs for service on the Mitteldeutsches S-Bahn network
  • Alstom Talent 3+ EMUs entering service on the Baden-Württemberg networks
  • Stadler Flirt Akku BEMUs for service on the MAN network
  • Siemens Mireo EMUs for service on the ENORM network
Flexible, off-balance sheet solutions

Building on relationships with German pension funds and insurers, Rock Rail Germany offers fixed, long-term lease pricing supported by low-cost institutional funding

Our model assumes residual value and removes ownership risk, eliminating the need for public funding.

We also provide specialist asset management across design, delivery and operation -collaborating with authorities, operators and manufacturers to ensure high performance and long-term value.

Fleets

Germany

MDSB
MDSB Lots 1&2
Stuttgart
ENORM
MAN
Main-Weser
Main-Weser
Blogs

News & Insight

We share updates on zero-emission transport, fleet finance innovation, and partnerships driving change across the UK
and Europe.

View all blog posts
Rock Rail Nov 19, 2024
Rock Rail purchases a brand-new fleet of Talent 3 Plus electric...
Rock Rail and abrdn Core Infrastructure have announced an investment in Alstom-built ...
Rock Oct 15, 2024
Rock Group is a proud official partner of ‘The Commonwealth at...
Rock is an official partner and contributor to The Commonwealth at 75, a commemorativ...
FAQ

Frequently asked questions

Clear answers to common questions about our zero-emission bus finance model.

What does Rock Rail Germany do?

Rock Rail Germany is the German-market arm of Rock Rail Holdings Ltd (UK) specialised in financing, leasing and managing rolling stock and rail infrastructure in Germany.


We offer off-balance‐sheet, long-term lease solutions tailored for the German rail market.

  • Financing and leasing of new rolling stock
  • Ownership risk and residual value assumption (so that operators/public bodies do not have to take them
  • Asset-management support over lifecycle – including design, construction, delivery, operation, maintenance interfaces
  • Support for greener technologies (battery. hydrogen, zero-emission) in the German market
  • It is structured as off-balance-sheet leasing (for the lessee) with long-term fixed lease pricing based on institutional funding
  •  Ownership risk, residual risk and redeployment risk are assumed by Rock Rail, rather than the operator/public authority
  • It aligns with the liberalised German rolling stock market, leveraging new opportunities for institutional capital
  • The rolling stock investments are designed to deliver significant energy savings (e.g. up to 25% less energy consumption compared to older fleets) and increased capacity, supporting modal shift from road to rail
  • Investment into battery and hydrogen-train technology to reduce carbon emissions and support Germany’s decarbonisation agenda
  • Instiutional investors can align their capital with sustainable transport infrastructure assets

Rock Rail Germany has partnered with leading rolling stock manufacturers including Siemens Mobility, Alstom and Stadler.

  • Siemens Mobility – for the MDSB 2025+ Leipzig S-Bahn fleet (Mireo EMUs)
  • Alstom – for Main-Weser and other regional networks (Coradia Stream / Talent 3 Plus EMUs)
  • Stadler Rail – for the Mittelthüringer Akku-Netz project (FLIRT Akku BEMUs).

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