Rock Rail’s new trains unveiled at InnoTrans 2018

  • Rock Rail

InnoTrans is the leading international trade fair for transport technology and with over 140,000 rail industry visitors and members of the public attending, it provided the perfect opportunity to showcase the new state of the art vehicles set to transform rail passenger travel across GTR’s Great Northern route and the Greater Anglia franchise.

Siemens City Desiro trains

Rock Rail and train operator Govia Thameslink Railway (GTR) joined Siemens in the presentation of one of the new 6-car electrical multiple units which will form part of a 25-train fleet entering service on GTR’s Great Northern route later this year. The fleet, financed and owned by Rock Rail Moorgate, (a joint venture between Rock Rail Holdings and Aberdeen Standard Investments), is the first to be introduced into the UK using direct long-term investment from pension and insurance companies.

The Class 717s will replace the existing Great Northern fleet of Class 313 trains, built in the late 1970s, and are set to deliver step changes in improved capability, services and travelling experiences for passengers on the Great Northern services between Moorgate and Hertfordshire.

They will offer passengers a range of benefits including more space on board thanks to full width inter-vehicle gangway, climate-controlled air-conditioning, and advanced information systems providing updates in real time. All carriages are equipped with full Wi-Fi functionality and power points.

Stadler Flirt trains

Stadler in partnership with Rock Rail and train operator Greater Anglia, jointly revealed one of the Flirt bi-mode units (BMU), which will form part of the brand-new fleet of trains for the East Anglia network. Rock Rail East Anglia, (a joint venture between Rock Rail, Aberdeen Standard Investments and GLIL Infrastructure), financed the trains and will lease them to Greater Anglia. They will form part of a total fleet renewal programme set to enhance the travelling experience for passengers across East Anglia.

With 20% more seats and improved accessibility features, the trains will have free Wi-Fi, USB and plug charging points on every seat and will be fully air conditioned. They will also be greener than the ones they replace, using the latest environmentally friendly technology.

The trains are due to enter service next year and are part of a 58-train fleet consisting of fourteen 3-car and twenty-four 4-car BMUs and twenty 12-car electric trains.

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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