The Clean Energy Finance Corporation has committed to its latest green funding initiative, investing up to A$50 million in an Angle Auto Finance warehouse that will fund vehicle dealerships that increase the range of electric vehicles they offer. The warehouse will also fund finance for supplier networks bringing EVs to Australia, as well as discounted consumer finance. NAB is providing the senior facility for the warehouse and investment manager Regal Private Credit is providing a mezzanine facility. The total capacity of the warehouse was not disclosed. Angle Auto Finance is owned by global asset manager Cerberus Capital Management. In 2020, Angle acquired Westpac’s vendor finance business, making it one of the country’s biggest auto dealer finance and retail auto finance companies in Australia. The CEFC said in a statement that the funding is the first known floorplan finance arrangement targeting vehicle supply, which has been identified as a barrier to growth of the Australian EV market. Over the past couple of years, the CEFC has funded a number of financial services companies offering green loans. Last year, it allocated $40 million to back green car loans offered by lender Firstmac, whose green loan is discounted by 1 percentage point compared with its standard car loan. CEFC has also supported discounted EV loans offered by Taurus Motor Finance, Plenti and Eclipx. In a deal with ANZ in 2022, CEFC committed funds to a $200 million lending package for business customers to cut emissions. Under the terms of the deal, CEFC and ANZ each contribute 25 basis points towards a 50 bps discount on loans of up to $5 million.