With the aim to decarbonise transport across Europe, Zenobē, a UK-based leader in electric fleet services and battery storage, has secured €325 million in financing to fuel the expansion of its electric fleets-as-a-service model. The new funding, backed by a consortium of international and regional banks, will enable the company to deliver up to 1,000 additional electric buses and trucks, along with vital charging infrastructure, across several European countries.
Backed by global financial powerhouses
The new credit facility, which closed successfully this week, represents a major milestone in Zenobē’s European growth journey. Leading the charge are financial heavyweights such as Mitsubishi UFJ Financial Group, Canadian Imperial Bank of Commerce, ABN AMRO, National Australia Bank, Siemens, Crédit Agricole CIB, and newcomer BayernLB. The agreement provides multi-currency flexibility, offering support in euros, Danish kroner, Norwegian kroner, and Swedish kronor, to match the growing electrification needs across the EU and EEA.
This investment follows the £1 billion green financing it secured last year to drive the electric bus transition in the UK and the £147M investment earlier the same year to accelerate Scotland’s decarbonisation of energy production
Scaling across Europe
Zenobē’s presence on the ground now extends across Germany, Spain, Belgium, the Netherlands, and Sweden. The new capital will help the company go beyond its current projects in Belgium and Spain, offering municipalities and logistics operators a faster, more cost-effective route to electrification.
What sets Zenobē apart is its ability to lower the total cost of ownership for fleet operators. By handling everything from vehicle procurement and infrastructure design to software optimisation and energy management, the company makes the transition to electricity both simpler and more financially viable.
Proven success of Zenobē
Zenobē’s experience is already visible in several major projects. In the UK, it has played a transformative role in creating low-emission public transport systems. Coventry, for instance, now runs 130 zero-emission buses through National Express, while Oxford’s Go-Ahead depot boasts 104 electric charging points thanks to Zenobē’s turnkey solutions.
Further south in Spain, the company is partnering with Grupo Julià to deliver an integrated package supporting 44 fully electric buses. The €42 million project includes vehicle financing as well as the design, construction, maintenance, and operation of a custom-built charging depot. illustrating the end-to-end nature of Zenobē’s offerings.
North American footprint expands
Zenobē’s ambitions aren’t limited to Europe. Its involvement in the €520 million Brampton transit project in Canada has become one of the largest zero-emission bus initiatives in North America. The project, developed as part of a UK-Canada collaboration, is expected to generate around 5,000 jobs, further reinforcing Zenobē’s capacity to deliver large-scale electrification with economic impact.
The company’s first steps into the European market came in 2022, with a project in Belgium for construction group Aertssen. There, Zenobē installed an on-site battery system to store excess solar energy and help manage energy pricing volatility, a perfect example of how the company blends technical expertise with practical climate solutions.
Now, with fresh capital in hand, it is set to supercharge its European ambitions. The funding will be directed towards both heavy-duty electric vehicles and the accompanying infrastructure, an essential ingredient for scaling sustainable transport. With urban mobility rapidly evolving, this model could play a key role in helping cities reduce emissions, manage energy efficiently, and modernise their fleets.
Leading the charge in electric mobility
Zenobē’s current operations support over 3,400 electric fleet vehicles worldwide, making it one of the most experienced players in the global e-mobility space. Its unique integration of engineering, finance, and software positions it not just as a supplier, but as a long-term partner to fleet operators navigating the transition to zero-emissions transport.
By marrying access to capital with deep sector expertise, Zenobē offers cities and companies a practical roadmap to electrification. This latest funding round doesn’t just expand the company’s footprint but also accelerates Europe’s journey to cleaner, quieter streets powered by electricity.
“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,” stated Steven Meersman, Founder Director at Zenobē.
“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.”
