Zenobē raises £980 million to finance 1,200 additional electric buses in the UK and Ireland

Zenobē has secured approximately £980 million in new financing to support the deployment of more than 1,200 electric buses and charging infrastructure across the UK and Ireland.

Zenobē announced on 15 June 2026 a new £980 million financing round for its UK and Ireland electric vehicle debt platform, bringing the total capital raised by the company since 2017 to more than £3.2 billion.

The transaction represents the third funding round completed for the platform and follows the €325 million European EV fleet facility announced by Zenobē in 2025 (and covering also e-trucks). Earlier this month the company entered a €120 million leasing framework with Vectalia for electric buses in Spain.

According to figures released by the company, the combined financing structures are expected to support up to 5,000 electric buses by 2028 across the UK and Europe.

Funding platform aimed at accelerating electric bus deployment

Zenobē is majority owned by infrastructure investors KKR and Infracapital.

The financing platform is designed to provide long-term capital for fleet electrification projects while combining vehicle financing with charging infrastructure and energy management services.

According to Zenobē, the funding will support:

• Deployment of more than 1,200 electric buses across the UK and Ireland;
• Associated charging infrastructure;
• Access to fleet electrification and charging expertise;
• Long-term financing solutions for public transport operators.

The company highlights that diesel fuel accounts for around 40% of a vehicle’s lifetime cost, compared with approximately 20% for electricity in an electric vehicle.

The platform is also intended to support local authorities, local governments and mayoral combined authorities pursuing franchising schemes. According to Zenobē, private capital provided through the facility can be combined with public funding mechanisms to support fleet transition projects.

Private bus operators are also expected to access the financing structure as part of their fleet decarbonisation programmes.

Ten new investors join Zenobē financing facility

The latest round brings ten new banks and institutional investors into the platform, increasing the total number of participating financial institutions to 22.

MUFG acted as lead financial adviser to Zenobē during the transaction. AOS served as borrower counsel, while Clifford Chance acted as lender counsel.

In brief

• How much financing has Zenobē secured? Zenobē announced a new financing round worth approximately £980 million.
• What will the funding support? The financing will support more than 1,200 electric buses and related charging infrastructure.
• How many institutions are involved in the platform? Following the latest round, 22 banks and institutional investors participate in the facility.
• How much capital has Zenobē raised since 2017? The company states that total capital raised now exceeds £3.2 billion.

Steven Meersman, Founder Director Zenobē said: “Together, these initiatives demonstrate Zenobē’s ability to mobilise large-scale capital to accelerate the transition to zero-emission transport in the UK, Europe and further afield in international markets. Operators today are acutely aware of the implications that diesel reliance has on their bottom-line. We’re here to support operators that want to make a switch that makes economic and environmental sense at meaningful scale. Zenobē can accelerate their ambitions reliably without breaking the bank by bringing together capital, technical experience and 24/7/365 support.” 

Priya Veerapen, Managing Director at Infracapital said: “Zenobē’s ability to attract such an extensive and diverse group of funding partners to its platform speaks for itself. What sets the business apart is its combination of financing expertise and deep technical capability – giving fleet operators the confidence to commit to electrification at a time when the pressure to act has never been greater. We are delighted to see the platform continue to grow and look forward to actively supporting Zenobē’s next phase of expansion across the UK and Europe.” 

Shreya Malik, Managing Director – Infrastructure at KKR said: “Fleet electrification is a critical step in reducing dependence on fossil fuels, and diversifying away from diesel vehicles is essential for operators looking to future-proof their businesses. This financing further enhances Zenobē’s ability to support the electrification ambitions of its customers at scale.”