Zenobē Raises €325M to Expand Electric Fleet Expansion Across Europe

The funding includes support from six existing lenders—MUFG, CIBC, ABN AMRO, NAB, Siemens, and Crédit Agricole CIB—alongside new backer BayernLB.

The new multi-currency funding will support Zenobē’s fleets-as-a-service model, which includes custom financing, infrastructure design, software, and energy management solutions.

Founded in 2017 by Nicholas Beatty and Steven Meersman, Zenobē will use the funds to deploy up to 1,000 electric buses, trucks, and charging stations across the EU/EEA.

Zenobē is active in Germany, Spain, Belgium, the Netherlands, and Sweden, offering local electrification services to transport operators.

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Globally, the company supports over 3,400 electric vehicles across 120 depots, with major deals including 130 buses for National Express in Coventry and a €42M project for Grupo Julià’s 44-bus fleet in Barcelona.

This funding comes at a time when transport operators across Europe are under growing pressure to shift to low-emission fleets while dealing with tight budgets.

Zenobē tackles these challenges with an all-in-one solution—offering both vehicle financing and charging infrastructure to simplify electric fleet adoption.

Earlier, the company announced a €520M UK-Canada project to electrify Brampton’s public transport system, a large-scale effort expected to support 5,000 direct and indirect jobs.

Zenobē was founded in 2017 by Nicholas Beatty and Steven Meersman, starting with grid-scale battery storage. Later, they expanded into electric fleet solutions.

Today, the company has over 300 employees working across engineering, software, and finance.

Zenobē entered the European market in 2022, launching battery storage projects in Belgium. One key project involved helping construction firm Aertssen store renewable energy to charge its equipment.

“We not only offer financial backing but also provide the expert guidance necessary to empower fleet operators to switch to electric,” says Steven Meersman, Founder Director at Zenobē. “This new facility will help us to make the cleaner option even more financially competitive – reducing any perceived green premiums and in some cases even achieving green discounts.”

The new debt funding will help Zenobē grow further in Europe. It already leads as the largest EV bus operator in the UK, Australia, and New Zealand.

Zenobē currently manages 430MW of battery storage, with another 1.2GW in development. Its goal is to capture about 20% of the UK market by 2026.

Santander and SocGen acted as financial advisors for the deal. Legal support came from Clifford Chance (for Zenobē) and Allen & Overy Shearman (for the lenders).

About Zenobē

Founded in 2017, Zenobē Energy is accelerating the clean energy transition through battery storage, electric fleet solutions, and second-life EV batteries. With over 1,000 EVs supported, 435MW of storage, and £2B raised, Zenobē helps lower energy costs and emissions while scaling renewable power across sectors and geographies.