“Mubadala” invests in the British “Zenobi” to electrify transportation fleets and batteries Al Khaleej newspaper

Abu Dhabi: “The Gulf”

Mubadala Investment Company “Mubadala” announced its investment in “Zenobi”, a global company specialized in the field of transportation fleet electrification and energy storage battery solutions. This strategic deal was concluded with InfraCapital, the infrastructure equity investment arm of M&GB. LLC, with which Mubadala has a limited strategic partnership.

Founded in 2017 and headquartered in London, Zenobi is a company specializing in electric vehicle fleet and energy storage battery solutions. Its Electric Vehicle Fleet business provides comprehensive solutions to support fleet operators in their transition to electric vehicles, including batteries, charging infrastructure and integrated software, while its Energy Storage Battery business develops large-scale batteries that connect to power transmission networks, providing a stabilizing factor. Critical to grids with the increasing trend towards integrating renewable energy resources into power grids.

Since Infra Capital’s first investment in Zenobi in 2020, its business has recorded remarkable growth, as it has supported more than 1,000 electric cars globally, and has battery storage in operation or under construction with a capacity of 430 megawatts. The company has a strong presence in the UK, Australia and New Zealand, and has a growing portfolio in Europe and North America.

With the support of Mubadala, Infra Capital is investing an additional amount of £270 million in Zenobi to grow its business in the United Kingdom and internationally. KKR, a leading global investment firm, is also investing approximately £600 million, forming a strategic partnership with Infra Capital as joint shareholders with a majority stake in Zenobi. With the support of its shareholders, Zenobi aims to operate 4,000 buses, trucks and commercial vehicles all powered by electricity, stimulating the global shift to cleaner means of transportation by 2026.

This deal represents an important achievement for Zainobi and confirms Mubadala’s firm commitment to playing a leadership role in bringing about positive change and contributing to building a sustainable and resilient future.

Khaled Abdullah Al Qubaisi, CEO of the Real Estate and Infrastructure Investments Sector at Mubadala, said: “As the world comes together to confront the challenges of climate change during the COP28 Conference of the Parties, it has become clear the important role that clean energy infrastructure plays as one of the climate solutions that enable us to transition to a low-carbon economy.” . Mubadala is keen to invest in the industries of the future to help find solutions to the biggest challenges facing the world, including climate change, and our partnership with Infra Capital and investment in Zainobi is a strong indication of our commitment to responsible investment.”