Zenobē lands £410m financing for mass electric bus rollout - CILT(UK)
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LATEST NEWS

Zenobē lands £410m financing for mass electric bus rollout

29 May 2024/Categories: Industry News, Active Travel & Travel Planning, Bus & Coach, Logistics & Supply Chain, Net-Zero


EV fleet and battery storage company, Zenobē, has announced they have secured a £410 million finance deal to support the deployment of over 2000 electric buses in the UK and Ireland by 2026.

This deal when added to the company’s existing £241 million platform takes Zenobē’s total green debt funding to over £1 billion, having raised funding since 2019.

According to the supplier, thanks to this funding in partnership with 13 banks and other financial institutions, Zenobē say they are the largest electric bus platform financing in Europe.

Zenobē’s Revolving Credit Facility (RCF) platform establishes a long-term debt framework to finance electric bus fleets.

The company said this enables transport operators to transition from diesel to electric buses through Zenobē's financing, managed services, and battery management solutions that mitigate risks associated with EV batteries.

Nicholas Beatty, Founder and Director, Zenobē said: “We are committed to financing and delivering innovative and reliable electric fleet and energy storage solutions for our customers.

“This milestone is not just a win for Zenobē but marks a significant leap forward in the movement toward a clean, low-carbon transportation sector in the UK.

“The faith and innovation shown by our financial partners affirms the maturing of these asset classes and the sustainability and resilience of our business model.”

The supplier said they already support over 75 bus depots globally, including recent projects financing electric vehicle fleets for operators like Transdev Blazefield and Nottingham City Transport.

This latest deal follows the company’s £147 million fundraise announced in January 2024, delivering the Kilmarnock South and Blackhillock grid-scale battery storage projects Zenobē is developing in Scotland.

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