Rock Rail UK helping transform passenger rail travel

Since 2016 Rock Rail has secured investment of £3 billion across 5 new rolling stock fleets for operation on key parts of the UK rail network. The state-of-the-art fleets are all due to be in service by 2022, helping transform passenger journeys and revitalising the post privatisation rolling stock market in the UK.

Transforming tomorrow’s 
infrastructure
today

Our global collaborations

Partnering with global manufacturers and train operators

  • Siemens Desiro EMUs in service on Govia Thameslink Railway’s Great Northern routes
  • Stadler Flirt EMUs and BMUs entering service on Abellio’s Greater Anglia franchise
  • Bombardier (now Alstom) Aventra EMUs entering service on FirstGroup and MTR’s South Western franchise
  • Hitachi Intercity BMUs for service on Abellio’s East Midlands franchise
  • Hitachi Class 805 BMUs in service on Avanti West Coast's West Coast Partnership franchise
Sustainability commitment

Supporting greener rail travel and delivering long term, enhanced value

Rock Rail’s modern fleets are contributing to a more sustainable railway, helping reduce CO2 emissions and delivering significant energy efficiencies versus the many diesel and old trains they are set to replace.

Notably, two of our assets – Greater Anglia and Moorgate – have been awarded joint first place out of 650 vehicles in the prestigious GRESB awards, reflecting our strong commitment to sustainable rail travel.

See below our 2026 ESG objectives to continue our responsible investment:

Environment Sustainability and Governance 26

Fleets

United Kingdom

West Coast
West Coast
East Midlands
East Midlands
South Western
South Western
East Anglia
Greater Anglia
Moorgate
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 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.

Our UK fleets are currently operating across the West Coast, South Western, East Midlands, Greater Anglia and Moorgate networks. 

We have partnered with Siemens, Stadler, Alstom and Hitachi.

Yes!

Rock Rail has invested in rolling stock infrastructure in Germany – for example the Main-Weser regional network and the Leipzig Central German S-Bahn. These projects involve financing trains, leasing them to local operators, and partnering with institutional investors.

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