Pantheon Infrastructure (PINT), the listed global infrastructure fund, has plans to invest £35 million ($44 million) in Zenobe, a battery-storage and electric vehicle-fleet specialist.
The commitment will be made through a coinvestment vehicle managed by Infracapital, a European infrastructure investor that has raised and managed more than £7 billion ($9 billion) in assets.
Zenobe provides essential infrastructure that contributes to international power and transport sector decarbonization targets. In addition to providing electrification solutions for vehicle-fleet owners, its batteries help balance the supply of renewable energy on the grid. At the end of their lifecycle, Zenobe repurposes the batteries for further use, contributing to the building of a circular economy.
Since the company was founded in 2017, it has delivered 435 megawatts of grid-connected battery capacity and has provided bus operators with 1,000 electric vehicles under a leasing structure