Zenobē secures €325 million senior debt financing to expand its electric fleet in Europe.
Financing will fund up to 1,000 new battery-electric buses and trucks, plus charging infrastructure.
Crédit Agricole CIB strengthens its position in energy transition and e-mobility financing.
Crédit Agricole CIB has joined a €325 million (US $355 million) senior debt financing package to support Zenobē’s rapid expansion across continental Europe. The UK-headquartered battery storage and e-mobility specialist will use the funds to deploy up to 1,000 electric buses and trucks, along with supporting charging networks.
Founded in 2017, Zenobē has grown from a UK start-up into an international player in fleet electrification, with operations in the UK, Australia, New Zealand, and expanding markets across Europe and North America. The company already commands nearly 28% of the UK’s electric bus market and has secured contracts in the Benelux region, Finland, and Spain.
The financing—backed by KKR and Infracapital—comes at a critical moment as Europe pushes to decarbonize transport. Diesel and petrol vehicles remain a leading source of greenhouse gas emissions and air pollution, and the new fleet will provide cities with more sustainable and reliable public transport options.
Matthew Norman, Global Head of Infrastructure & Advisory at Crédit Agricole CIB, said: “Congratulations to all teams involved on closing this landmark electric fleet financing transaction with Zenobē. This deal strengthens the Bank’s position in the energy transition space and builds our credentials in the rapidly growing e-mobility sector. We look forward to leveraging this success for future global opportunities.”
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Tom Wellingham, Director for Infrastructure EMEA, added: “Zenobē is a leading business in the low carbon mobility space and one we have watched with great admiration as it has built its market leading position. We are delighted to support Zenobē in deploying their unique offering in continental Europe and look forward to building on this relationship for further opportunities globally.”
The deal builds on Crédit Agricole CIB’s earlier role as Mandated Lead Arranger for Zenobē’s UK grid-scale battery storage project. “The new €325m debt facility will fund the expansion of its electric bus fleets-as-a-service offering in Europe, showcasing the Bank’s ability to partner with our infrastructure fund clients, KKR and Infracapital, to drive energy transition across new market thematics,” said Henry Manson, Director of Infrastructure Coverage.
Zenobē’s European expansion marks one of the most significant private financing initiatives in electric fleet deployment to date, reinforcing both the company’s market leadership and the growing role of infrastructure banks in the global energy transition.
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