UK-based battery storage and e-mobility company Zenobē has secured $355 million in senior debt financing to scale up its electric fleet operations across Europe.

The deal, backed by KKR and Infracapital, has also been actively supported by Crédit Agricole CIB. This initiative will strengthen the bank’s position in financing energy transition projects and pave the way for future collaborations in the e-mobility sector.

Founded in 2017, Zenobē has grown rapidly from a startup into a market leader in the UK’s electric bus sector, now commanding around 28% of the domestic market. With this new facility, the company plans to roll out 1,000 electric vehicles and develop charging networks across Europe, while also extending its footprint in Australia, New Zealand, and North America.

This latest funding follows Crédit Agricole’s earlier support for Zenobē’s Eccles project in Scotland, one of Europe’s largest battery energy storage systems (400MW/800MWh). Both financings were completed in partnership with KKR and Infracapital. According to Henry Manson, Director of Infrastructure Coverage at Crédit Agricole, the deal demonstrates the bank’s ability to partner with infrastructure funds to drive the energy transition across new sectors.

“The new €325m debt facility will fund the expansion of Zenobē’s electric bus fleets-as-a-service offering in Europe, showcasing the Bank’s ability to partner with our infrastructure fund clients, KKR and Infracapital, to drive energy transition across new market thematics,” Manson said.

As Europe advances with decarbonizing its transport systems, Zenobē’s expansion represents one of the largest private financing initiatives in electric fleet deployment to date. The transaction reinforces the company’s leadership role in sustainable transport and underscores the growing importance of infrastructure banks in accelerating the global energy transition.

Source:

https://esgnews.com/uk-unveils-draft-transition-finance-guidelines-to-support-high-emitting-sectors-decarbonization/