Zenobē secures £410m more finance

Zenobē, a leader in electric vehicle fleet services and battery storage innovation, has secured a further £410 million in financing to speed up its support for the roll-out of electric buses across the UK.

The announcement, in addition to its existing £241m pioneering financing platform established in 2022, marks over £1 billion of green debt funding raised by Zenobē since 2019. The substantial financing will enable Zenobē to offer further tailored financial solutions to support bus operators to deliver more than 2,000 new electric buses throughout the UK and Ireland by 2026.

One solution is Zenobē’s battery management service that removes battery risk for operators by taking on the responsibility and risk associated with EV batteries, including battery performance, replacement and repurposing in second-life applications – an area which Zenobē is pioneering.

In Yorkshire, the fleet electrification specialist is working with Transdev Blazefield to finance 39 battery electric vehicles in its Harrogate depot, including a 15-year battery management service. Earlier this year, Zenobē also announced the financing of 24 batteries on board Nottingham City Transport’s newly acquired fleet of fully electric single-deck buses. Both projects utilised Zenobē’s financing structures to enhance their Zero Emission Bus Regional Areas (ZEBRA) allocations. Zenobē’s services are designed to remove the financial and operational barriers to fleet electrification and reduce ongoing costs. This funding will empower more operators to provide greener, cleaner and more efficient service offerings to their customers.

Underpinning today’s announcement is the recognition of sustainable transport as a bankable asset class, with Zenobē establishing itself as a key enabler for the bus and fleet industry’s transformation. Through strategic partnerships with major financial institutions, Zenobē has assembled a network of 13 lenders committed to supporting the expansion of green public transport including Aviva, Lloyds, MUFG, NatWest, Santander, Scottish Widows, Siemens Financial Services through Siemens Bank and Société Générale. New banks and institutions to join the syndicate include ABN AMRO, CIBC, NAB, Rabobank and SMBC Group.

This collaborative investment will allow bus operators to benefit from Zenobē’s advanced support structures and strong track record supporting over 75 electric depots to date. It will expedite the smooth transition to green transport whilst enabling operators to meet growing environmental regulations, as well as the needs of communities across the country.

Steven Meersman, Founder and Director, Zenobē said: “This is more than a story of Zenobē’s growth; it is a leap forward for the bus industry in the UK. This expansion of our existing financing will help us continue our work with operators across the UK with specialist solutions to one of the biggest barriers to electric fleets – the upfront cost. By gaining both new and renewed support from the right financial partners we are taking another step forward in our mission to electrify the UK’s buses at scale, reducing carbon emissions and connecting more communities in the UK.”


  • With the addition of £410m of new debt to its existing £241m platform, this is the largest electric bus platform financing in Europe and marks over £1 billion of green debt funding raised by Zenobē since 2019.
  • New financing follows the investment of c.£600m from KKR and a further c.£270m from Infracapital into the EV fleet and battery storage specialist in 2023.
  • In partnership with 13 banks and other financial institutions, including NatWest Bank as sole financial advisor, Zenobē’s collaboration with top lenders highlights increased institutional investor confidence in sustainable transport.


Leave a Reply

Your email address will not be published. Required fields are marked *


This site uses some unobtrusive cookies to store information on your computer, these are in place to ensure that you receive the best possible experience when using the Bus & Coach Buyer website.