Fueling Zenobē’s European EV Expansion
Investment in large-scale rechargeable battery solutions is critical to enabling the uptake of electric vehicles and renewable power and to supporting the decarbonisation of Europe’s automotive sector.
A goal that companies like Zenobē, a leading EV fleet specialist and owner and operator of battery storage in the UK, are actively advancing with fast-growing operations in the UK, Australia, New Zealand and North America.
Zenobē was founded in 2016 and offers end-to-end fleet electrification services to the bus and commercial vehicle sector. With growth being a key priority across continental Europe, the company has achieved Financial Close of a EUR 325m debt facility from a pool of seven banks. This funding will support in expanding its e-bus, e-truck and charging infrastructure under long-term service agreement with fleet operators.
Societe Generale acted as a Financial Advisor to Zenobē Energy Limited in connection with its continental European expansion of its EV fleet and fleet infrastructure business.
We not only offer financial backing but also provide the expert guidance necessary to empower fleet operators to switch to electric. This new facility will help us to make the cleaner option even more financially competitive – reducing any perceived green premiums and in some cases even achieving green discounts. By reducing the total cost of ownership for electric fleets through bespoke financing, optimisation software, energy management and more, we are committed to enhancing the economic viability and accessibility of electric transport across Europe.
We are proud to support Zenobē in this milestone financing that will enable them to expand their electric fleets-as-a-service offering across Europe. This financing reflects our commitment to supporting sustainable transportation at scale.
The transaction further demonstrates Societe Generale's strong expertise in land transportation with a focus on zero emission solutions. The flexible terms achieved set a new benchmark and will support the development of Zenobē’s fleets as-a-service model to a wide range of transport operators in several European jurisdictions.”
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