London, UK – 15 June 2026 

Zenobē has today announced a £980m financing round for its landmark UK and Ireland EV focused debt facility, taking the total capital raised by the company to over £3.2bn since 2017. 

The additional funding will support the deployment of more than 1,200 new electric buses and associated charging infrastructure over the next three years and marks the third funding round for the facility. Combined with Zenobē’s €325m European EV fleet facility announced by Zenobē last year, Zenobē is expected to support up to 5,000 electric buses by 2028, accelerating fleet decarbonisation across the UK and Europe.  

Diesel fuel accounts for approximately 40% of a vehicle’s lifetime cost – compared to around 20% for electricity in an electric vehicle, making diesel fleets more expensive to operate and more vulnerable to fuel price volatility. While the economic case for electrification is increasingly compelling, electrifying a fleet requires a more integrated approach to management across vehicle, battery, energy and charging infrastructure. This funding will enable Zenobē’s operators to access both long-term capital and Zenobē’s charging infrastructure and fleet electrification expertise.  

The facility supports Zenobē’s ambition to work with Local Governments and Mayoral Combined Authorities to accelerate and de-risk delivery timelines, by providing private funding that can match public funding for franchising schemes. This will help accelerate deployment, reduce delivery risk and maximise the impact of taxpayer investment. 

At the same time, private operators can utilise the platform to advance their own decarbonisation strategies, enabling greater flexibility and speed in deploying electric fleets. 

Ten new banks and institutional investors have joined the platform in this latest round of funding, with a total of 22 organisations now involved. MUFG acted as lead financial advisor to Zenobē on the transaction, with AOS and Clifford Chance acting as Borrower and Lender counsel, respectively. 

Zenobē is majority owned by leading infrastructure investors KKR and Infracapital and continues to attract broad institutional support.     

Steven Meersman, Founder Director Zenobē said:  

“Together, these initiatives demonstrate Zenobē’s ability to mobilise large-scale capital to accelerate the transition to zero-emission transport in the UK, Europe and further afield in international markets.  

Operators today are acutely aware of the implications that diesel reliance has on their bottom-line. We’re here to support operators that want to make a switch that makes economic and environmental sense at meaningful scale. Zenobē can accelerate their ambitions reliably without breaking the bank by bringing together capital, technical experience and 24/7/365 support.” 

Priya Veerapen, Managing Director at Infracapital said:  

“Zenobē’s ability to attract such an extensive and diverse group of funding partners to its platform speaks for itself. What sets the business apart is its combination of financing expertise and deep technical capability – giving fleet operators the confidence to commit to electrification at a time when the pressure to act has never been greater.  

We are delighted to see the platform continue to grow and look forward to actively supporting Zenobē’s next phase of expansion across the UK and Europe.” 

Shreya Malik, Managing Director – Infrastructure at KKR said:  

“Fleet electrification is a critical step in reducing dependence on fossil fuels, and diversifying away from diesel vehicles is essential for operators looking to future-proof their businesses. This financing further enhances Zenobē’s ability to support the electrification ambitions of its customers at scale.”  

The announcement also reflects Zenobē’s expanding international footprint. The business continues to attract capital to scale transport electrification globally. In March, the business announced a £100 million electric truck fund in Australia, that will finance the design, build and optimisation of zero emission truck fleets. 

In that same month, Zenobē also announced its entry into the North American commercial fleet and truck sector with the acquisition of Revolv, adding 13 operational sites and 100-plus electric trucks to its growing fleet portfolio. 

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Notes to Editors 

• The funding round includes of £480m new long-dated term commitments, a £400m capex facility and £100m of ancillaries. 

• The banking institutions involved in the transaction are: NatWest, SocGen, Lloyds, Santander, ABN Amro, Siemens, CIBC, NAB, Rabobank, MUFG, Aviva, Scottish Widows, Swiss Re, OCBC, CA-CIB, SCB, HSBC, LBBW, Barclays, Intesa, Bayern, CIC 

• Diesel and electricity percentage contributions are based on internal total cost of ownership modelling. This example is based on a double decker vehicle with 70,000km annual mileage for 15 years. Exact percentages will fluctuate based on asset type and lifetime variables including mileage, useful economic life (UEL), maintenance and energy costs. Energy cost modelling is based on industry projections and internal forecasts 

About Zenobē Energy Ltd. (Zenobē):      

Zenobē is an EV fleet and grid-scale battery storage specialist, headquartered in the UK. The company began operations in 2017 and now employs 300 FTEs with a wide range of leading skills including electrical engineering, software development, computer sciences and financing.   

Zenobē is the UK’s leading owner and operator of grid-scale batteries on the GB transmission network with 2.5GWh of batteries in contract and is expanding into North America. Zenobē has an operational capacity in the UK of 731MW, with a further 568MW currently under construction.  

Zenobē has around 25% market share of the UK EV bus sector and supports over 3,400 electric vehicles across 120 depots globally. The company is the largest owner of EV buses in the UK, Australia and New Zealand.   

For more information, please visit www.zenobe.com/ or follow on LinkedIn.