Rock Rail

Financing the future of clean mobility

Rock Rail partners with public and private stakeholders to deliver innovative financing solutions for rolling stock and clean transport infrastructure.

Our mission is to drive the transition to sustainable mobility by enabling operators and authorities to invest in the latest low and zero-emission technologies, including electric and battery-electric trains that improve efficiency, reliability and environmental performance.

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Powering the journey to net zero - one train at at time

Who we are

Driving the transition to net zero transport

Rock Rail provides the financial bridge between ambition and action. The business was founded to fill the void in the availability development capital for infrastructure projects post-PFI by offering a unique platform for direct institutional investment.

We work with transport authorities, operators and investors to deliver funding for lower zero- emission fleets – helping cities and regions decarbonise transport and improve air quality for generations to come.

At a glance

Our Impact

Since its foundation in 2011, Rock has become a leading developer of transport infrastructure projects in the UK . Rock Rail has financed over £5 billion of new rolling stock across the UK and Germany, improving passenger experiences and reducing emissions across the rail network.

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Partnering for progress

Transforming rail through investment

Rock Rail UK has financed over £3 billion of new, state-of-the-art trains across the UK, improving reliability, comfort and sustainability for passengers nationwide.

Working closely with operators, investors, and government partners, we’re helping accelerate the shift to cleaner, more efficient public transport that delivers lasting value for the UK economy.

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Future of transport

Supporting the transition to zero-emission transport across Europe

Building on our UK success, Rock Rail Germany partners with operators and regional authorities across Germany to deliver innovative financing for lower zero-emission rolling stock and clean mobility projects.

Our goal is to enable sustainable growth and support Europe’s journey towards a fully decarbonised transport system.

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The association

Recognised by industry leaders

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 fleet model.

What does Rock Rail do?

Rock Rail provides innovative financing solutions for rolling stock and transport infrastructure.
We work with our partners to deliver cleaner, more efficient, and more sustainable transport.

In practice, this means:

  • Partnering with operators, manufacturers, and investors to fund modern electric and battery-electric trains (EMUs and BEMUs).

  • Enabling operators to access new, high-quality fleets without large upfront capital costs.

  • Supporting the transition to cleaner, more reliable, and sustainable transport networks across the UK and Europe.

  • Helping deliver the next generation of rolling stock and infrastructure through long-term, responsible investment.

Rock Rail’s approach is built on transparency, collaboration, and long-term value.
We believe strong partnerships drive better outcomes for everyone involved.

Our approach in action:

  • Building open, collaborative partnerships between operators, investors, and manufacturers.

  • Ensuring all parties are aligned on performance, quality, and sustainability goals.

  • Designing flexible, tailored financing structures for each project.

  • Delivering innovative, efficient solutions that create real benefits for passengers and the environment.

Rock Rail finances and owns the trains in partnership with our long-term investors and institutional funders.

In practice, this means:

  • Rock Rail manages the investment on behalf of our funding partners.

  • We work closely with operators throughout the life of each fleet.

  • Our focus is on maintaining high performance, reliability, and service quality for passengers.

Rock Rail’s financed fleets operate across the UK and Europe, with an expanding presence in North America.

Our operations include:

  • United Kingdom: Fleets running on routes operated by Greater Anglia, South Western Railway, East Midlands Railway, and West Coast Partnership.

  • Germany: Managing fleets such as the Main-Weser Network, Leipzig (MDSB 2025+), Mittelthüringer Akku-Netz (MAN), and the Talent 3 Plus fleet.

  • Expanding internationally: Growing our presence in Switzerland and the USA.

Rock Rail partners with leading train manufacturers to deliver the next generation of sustainable rolling stock.

Our partners include:

  • Siemens Mobility

  • Hitachi Rail

  • Stadler

Together, we:

  • Deliver state-of-the-art electric and battery-electric fleets.

  • Set new standards in comfort, performance, and environmental efficiency.

Sustainability is at the heart of everything we do. Through our investments, Rock Rail is helping to create a cleaner, more efficient, and more sustainable transport future.

Our impact includes:

  • Funding electric and battery-electric fleets that reduce emissions and improve energy efficiency.

  • Supporting the transition to lower-emission transport networks across the UK and Europe.

  • Delivering long-term environmental and social benefits, including better air quality, lower noise levels, and enhanced passenger comfort.

Industry leadership:

  • Projects such as Greater Anglia and Moorgate are recognised as industry benchmarks for sustainable transport investment.

  • Rock Rail has achieved the No. 1 global ranking in the GRESB Infrastructure Assessment for multiple years – reflecting our commitment to transparency, responsible investment, and measurable impact.


Together, these achievements demonstrate our dedication to leading the transport finance sector towards a more sustainable and resilient future.

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
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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