Zenobe Energy raised £150 million funding for grid-scale battery, EVs & charging infrastructure
Zenobe Energy, a leading UK company which provides battery storage solutions and EVs infrastructure has announced that it has secured an investment of £150 million from Infracapital an infrastructure equity investment arm of M&G Plc. The funding will be used for the expansion of its grid-scale battery, electric vehicles and charging infrastructure.
Zenobe Energy raised £150 million funding
That helps in transport and energy sectors to meet the greenhouse gas emission goals and it also helps in improving the quality of air across the UK.
Emil Henry, CEO of Tiger Infrastructure, said “Three years ago we supported the vision of Zenobe’s founders to build a large-scale battery energy storage platform from a small portfolio of initial assets. With Infracapital’s investment, the Zenobe team has secured the funding for the next phase of growth in the energy storage and electric vehicle fleet sectors. We applaud the Zenobe team on achieving this milestone, and we are pleased to welcome Infracapital as a new partner to Zenobe’s innovative and market-leading platform.”
The total investment will help the company to assist the consumers with 500 MWh of additional grid-connected batteries as well as up to 1,000 more electric buses or vehicles and associated infrastructure software systems over the next 18 to 24 months.
“With our focus on innovation and provision of solutions to consumers that combine our technology, operational, and financing capabilities, this investment will be crucial in allowing us to achieve our growth ambitions in the U.K. and abroad,” said Nicholas Beatty, founder-director of Zenobe Energy.
The company has 170 MW of grid-scale batteries functioning and constructing various services including the power and reactive power services to the national grid and distribution network operators in the U.K. It supports more than 100 electric buses at present and is in talks to support more 250 electric buses by mid-2021.
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