UK's Zenobe Energy secures GBP 150m to boost battery, EV services

Infracapital, the European infrastructure division of UK investment manager M&G Plc, has invested GBP 150 million (USD 199m/EUR 168m) in UK battery storage owner and operator Zenobe Energy Ltd.

The fresh funds will be used to back the expansion of Zenobe’s grid-scale battery services, as well as its electric vehicle and charging infrastructure services. In addition to the company's debt facilities, the new investment will enable Zenobe to deploy about GBP 450 million in these sectors.

Zenobe has a portfolio with 170 MW of batteries in operation and under construction, and is also active in the transport sector where it provides support services for over 100 electric buses. The company has previously raised funds from investors including Tiger Infrastructure Partners LP and JERA Storage BV.

"With our focus on innovation and provision of solutions to customers that combine our technology, operational and financing capabilities, this investment will be crucial in allowing us to achieve our growth ambitions in the UK and abroad," Zenobe Energy founder Nicholas Beatty commented.

(GBP 1.0 = USD 1.326/EUR 1.117)

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