- Infracapital, Zenobē’s current majority shareholder, will invest further alongside KKR and the management team
- KKR is a global investment firm based in New York
- Infracapital is a European infrastructure investor
KKR will invest around $750 million in Zenobē, a transport electrification and battery storage services provider.
Infracapital, Zenobē’s current majority shareholder, will invest further alongside KKR and the management team, with KKR and Infracapital becoming joint majority shareholders.
Zenobē will be the first investment made via KKR’s global climate strategy, which is part of KKR’s $54 billion global Infrastructure business.
KKR plans to work with Zenobē to meet the demand for EV adoption from bus operators and other commercial fleet businesses globally, according to a release. It will also help Zenobē expand its grid-scale battery storage capacity through the construction and expansion of new and existing sites, the release added.
“We believe Zenobē will continue to benefit from strong secular tail winds including stricter emission regulation in urban and regional areas, and the greater use of low carbon generation in the energy mix driving a need for grid balancing solutions,” said Shreya Malik, director in KKR’s European Infrastructure team. “We see significant growth opportunities within Zenobē’s existing customer base, as well as huge potential in new markets globally.”
Infracapital initially invested in Zenobē in 2020.
The transaction is subject to regulatory approvals.
Zenobē is headquartered in London.
New York-based KKR is a global investment firm that offers alternative asset management as well as capital markets and insurance services.
Infracapital is a European infrastructure investor based in London.