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Zenobe launches up to £120 million of funding to accelerate the rollout of commercial electric vehicle fleets

Local councils, bus and fleet operators are invited to partner on electric vehicle (EV) fleet projects

  • Up to £120 million is available for EV fleets from Zenobe Energy
  • The end-to-end solution provides financing for batteries in the depot to overcome grid constraints, charging infrastructure and the batteries on the vehicles as well as the full vehicles themselves
  • The Zenobe solution will reduce the upfront cost of investment in electric fleets

Zenobe Energy, the UK’s leading independent owner and operator of battery storage, today announces the launch of up to £120 million of funding to accelerate the rollout of commercial electric vehicle fleets such as buses and the supporting infrastructure.

The government’s £48 million Ultra-Low Emission Bus scheme (ULEB), announced in February this year, highlighted the huge demand from local authorities and bus and fleet operators to transition to electric vehicles. This is the first time a private company has helped to fill that gap, with an aim to help eliminate pollution in our cities, towns and rural areas. Zenobe is inviting organisations to get in touch with electric vehicle fleet projects now.

Coming at a time when the transport sector is the largest contributor of CO2 and NOx emissions, the fund will significantly speed up the process of bringing zero-emission vehicles onto our roads, helping to improve air quality and to meet our legally binding carbon reduction targets.

Zenobe can provide a range of solutions which includes the upfront financing for local authorities, OEMs, and bus and other fleet operators. Depending on requirements, the company will own and operate batteries in the depot, smart charging infrastructure and the batteries on the vehicles. This will give customers the option of an end-to-end, one-stop solution in exchange for a pence per-mile service fee or a fixed monthly charge.

The Zenobe solution will significantly reduce the upfront cost associated with zero emission buses, not only making the price similar to diesel buses but also lowering the total lifecycle cost by as much as 30% in some cases. Zenobe Energy will work with the Low Carbon Vehicle Partnership to ensure all projects are zero emission and are compatible with the standards set in the government’s recent ULEB scheme.

The Zenobe EV scheme can be used alongside grants from the ULEB scheme. With council funding for buses almost halving since 2010, these schemes are critical in helping to plug this gap, connect communities and improve air quality.

Steven Meersman, co-founder of Zenobe Energy, said:

“We’re thrilled to announce the Zenobe comprehensive funding solution which helps local councils and commercial fleet operators bring forward the rollout of zero-emission vehicles by several years. Using our solutions, we can enable local authorities and operators to access a faster, cheaper and lower-risk way to transition to EVs. We’re calling on organisations to work with us and provide the public with emission-free transport and last-mile deliveries now.”

Jonathan Murray, Policy and Operations Director at the Low Carbon Vehicle Partnership, leading the UK Government-sponsored EV Energy Task Force initiative said:  

“Many bus operators are looking to electrify their vehicles and are a key part of efforts to decarbonise road transport and improve air quality in some of our most polluted areas. Buses require a lot of energy and this creates challenges – and opportunities – for the electricity grid.

“This initiative from Zenobe Energy should be an important enabler of efforts on the part of vehicle operators to switch to zero emission vehicles, whilst making the electricity grid smarter and more resilient at the same time.”

Please visit here to find out more: https://Zenobe.co.uk/

NOTES TO EDITORS

For further information, please contact:

Eryl Bradley (0203 696 5800 / Zenobe@standagency.com )  

About Zenobe Energy Ltd. (Zenobe)

Zenobe Energy is one of the largest independent owners and operators of battery storage in the UK with 73 MW of operational assets and a large portfolio of projects in our pipeline. We provide intelligent flexible power solutions to commercial EV fleet operators, utilities and industrial and commercial businesses. Our battery storage services help clients manage power more effectively so they can lower costs, improve resilience and reduce their environmental impact.

About the LowCVP

The LowCVP (www.lowcvp.org.uk), which was established in 2003, is a public-private partnership that exists to accelerate a sustainable shift to lower carbon vehicles and fuels and create opportunities for UK businesses. Nearly 200 organisations are engaged from diverse backgrounds, including automotive and fuel supply chains, government, vehicle users, academics, environmental groups and others.