Fleet electrification specialist Zenobē has secured £980m in its latest funding round, bringing total capital raised since 2017 to more than £3.2bn.
The financing will support the deployment of over 1,200 new electric buses and associated charging infrastructure across the UK and Ireland over the next three years.
Combined with a €325m European facility announced last year, Zenobē expects to support up to 5,000 electric buses by 2028.
Diesel accounts for around 40% of a vehicle’s lifetime running costs compared to roughly 20% for electricity, according to Zenobē.
The round, which saw 10 new banks and institutional investors join the platform – bringing the total to 22 – will also help local authorities and mayoral combined authorities accelerate bus franchising schemes by matching public funding with private capital.
Zenobē founder director Steven Meersman said the company was supporting operators wanting to ‘make a switch that makes economic and environmental sense at meaningful scale.’
Photo: © Zenobē
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