British Energy Storage Firm Zenobe to Grow in US, Australia with $1 Billion Funding
- British company secures fresh funds from KKR, Infracapital
- Plans to electrify school bus fleets and build grid batteries
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Investors including KKR & Co. are providing more than $1 billion of fresh capital to Zenobe Energy Ltd. as the British battery storage and vehicle electrification company looks to expand in North America and Australia.
London-based Zenobe landed $750 million from KKR and an additional $340 million from M&G Plc’s Infracapital arm, which is an existing investor, the firm said in a statement Thursday. It plans to use the money on projects from electrifying yellow school buses in the US to building batteries in Scotland to ensure wind power doesn’t go to waste.