December 2, 2020

£150 million secured by Zenobe Energy for the support of EV batteries

By 2035, the UK government intends to ban the sale of new diesel and petrol vans. This has led to an increase in demand for battery-operated vehicles. Also, many companies have started investing in battery storage. 

The Landon-based Zenobe Energy, which was there before known as Battery Energy Storage Solutions Limited, is the latest company to invest in battery storage. Infracapital gave the company £150 million investment for its growth. The funds will be used to speed up the UK’s transition to zero-emissions. 

Founder and Director, Zenobe Energy, Beatty Nicholas, said that the funding by Infracapital is a clear indication of the company’s continued support in the battery sector. He added that the company is focusing on providing solutions to its customers through innovative ways. Nicholas also said that batteries’ adoption by the transport sector would help fasten renewable energy usage, which will enable the transition to a green energy system. 

These funds will enable Zenobe Energy to help its clients with 500MWhr extra grid-connected batteries. The money will also be used to support electric vehicle infrastructure software development in the next 18-24 months. Zenobe Energy says that its innovative solutions and Infracapital funding will help speed up the adoption of electric vehicles in the UK. 

Infracapital Head of Greenfield, Andy Matthews, said that they are happy with their investment in Zenobe Energy. He added that Zenobe Energy is a leader with great growth aspects and superior environmental purpose. Andy also said that Infracapital investment would help Europe to achieve its transition to green energy, saying the company will deploy more finances to create a long-term solution for its investors in the coming years. 

Zenobe Energy was established in 2017 by Nicholas Beatty with the intention of enabling the transition to zero-carbon and non-polluting power. It provides flexible power solutions to industrial, utilities, and commercial EV fleet operators. Zenobe Energy is also funded by other companies such as JERA Storage BV by £25 million, NatWest Group £20 million, and Santander Group by £25 million. 

Zenobe Energy has over 170MW of grid-scale batteries either in construction or operation, which provide power in the UK’s National grid. It also offers storage, load shifting, and off-grid operations to commercial and industrial clients. So far, the company is backing more than 1000 electric buses. In 2021, Zenobe Energy is planning to back up over 250 EVs, which is in the process of finalizing an agreement with operators.