Ulster Bank supports Wrightbus with £32.5m facility to drive zero-emission growth

Ulster Bank has committed £32.5 million in financing to zero-emission bus manufacturer Wrightbus, reinforcing the Ballymena-based firm’s ambitions for global expansion and clean transport leadership.

The financing agreement will support Wrightbus’s working capital requirements as the company accelerates production and expands its reach across international markets.

The deal is part of a wider £150 million funding facility aimed at enabling substantial growth and reinforcing the firm’s commitment to sustainable transport solutions.

Founded in 1946 and rescued from administration in 2019 by green entrepreneur Jo Bamford, Wrightbus has undergone a remarkable transformation. Today, the company employs more than 2,300 people and produces around 1,200 buses annually — with 95% of these being zero-emission vehicles.

The £32.5 million funding from Ulster Bank takes the form of a revolving credit facility (RCF) — a flexible form of financing that allows borrowing, repayment, and reborrowing up to a specified credit limit. This mechanism is particularly suited to manufacturers with long production cycles, like Wrightbus, as they scale up to meet global demand.

“Decarbonising public transport globally”

Damien Long, Corporate Banking Relationship Director at Ulster Bank

Damien Long, Corporate Banking Relationship Director at Ulster Bank, said the bank was proud to play a role in Wrightbus’s global decarbonisation journey.

“Ulster Bank is very pleased to support Wrightbus as it leads the way in decarbonising public transport globally and in doing so, creating employment and economic benefit in Northern Ireland,” he said.

“This is an important facility for the company that will provide it with the flexibility to ramp up production to meet demand and will help put it in a strong position to deliver on its ambitious growth plans.”

“Ripple effect felt in Northern Ireland”

Wrightbus CEO Jean-Marc Gales emphasised the wider economic impact of the company’s growth and the importance of strong local partnerships.

“We are particularly proud that our 2,300-strong workforce generates a further 7,500 jobs in the supply chain, but this arrangement with Ulster Bank proves that the ripple effect of our success is also felt right here in Northern Ireland.

“To have a bank on our doorstep which understands our needs, our ambitions and our culture is vital in our push for growth.”

The company’s ambitions extend far beyond the UK and Ireland, with growing demand for its zero-emission buses from Brisbane to Berlin.

Backing from Capital Markets

The funding deal was structured by HYCAP, the clean energy investment and asset management firm led by Jo Bamford. George Saunders, Director of Capital Markets at HYCAP, welcomed Ulster Bank’s involvement.

“We are delighted to welcome Ulster Bank to the Wrightbus bank syndicate and look forward to exploring further opportunities to work with Ulster Bank and the wider NatWest Group across the HYCAP portfolio in the future.”

Wrightbus continues to lead the charge in decarbonising public transport, with the Ulster Bank financing marking a significant milestone in its journey to becoming a global leader in sustainable mobility.