M&G Unit Makes 150 Million GBP Investment in Zenobe Energy
Posted on 11/15/2020
U.K.-based Zenobe Energy Ltd. (formerly known as Battery Energy Storage Solutions Limited) is an owner and operator of battery storage and provider of services to electric vehicle operators. Zenobe Energy has secured a £150 million investment from Infracapital, the infrastructure equity investment arm of M&G Plc, to support the company’s growth. Infracapital’s funding will support the growth of Zenobe’s grid-scale battery services and electric vehicle and charging infrastructure services.
Past Raises
This investment follows on from the raise of around £40 million of equity from private investors and early stage infrastructure investor Tiger Infrastructure Partners LP in 2017; £25 million of equity from JERA Storage BV and the first non-recourse debt facility against battery storage projects from Santander Group (£25 million), both completed in 2019; and receivables financing from NatWest Group (£20 million) in June 2020, to support Zenobe’s EV fleet business.
Nicholas Beatty is the founder director of Zenobe Energy. Before that, he was Head of Corporate Finance in London for BNP Paribas, a position he exited in December 2006.
