Zenobē raises $400m for zero-emission fleets in Australia and NZ

Zenobē has secured a landmark $400 million financing platform to accelerate the rollout of zero-emission transport across Australia and New Zealand.

Backed by a syndicate of global banks, the debt facility is designed to help public transport operators and commercial fleets access Zenobē’s fleet electrification offering while reducing the upfront costs and risks associated with transitioning to electric vehicles.

The company said the transaction represents the first integrated, multi-site heavy vehicle fleet electrification financing platform established in Australia and New Zealand.

The platform combines Zenobē’s end-to-end electrification services into a single financing model, including turnkey depot electrification, long-term chassis and battery leasing, mid-life battery replacement and ongoing operational optimisation.

By integrating these services, operators can avoid significant upfront capital expenditure while reducing technology and battery residual value risk and simplifying the deployment and management of electric fleets.

The financing platform builds on Zenobē’s established model in the UK and Europe, where the company recently expanded its electric vehicle financing platform to more than US$1.8 billion (£980 million). It also follows the company’s announcement of a US$100 million truck electrification programme in Australia earlier this year.

At launch, the platform includes four operational projects already supporting fleet electrification across the region, with depots in Leichhardt, Australia, and Dunedin, West Auckland and Greater Wellington in New Zealand.

Zenobē said the long-term funding platform is expected to support more than US$400 million of investment in fleet electrification across Australia and New Zealand. By raising debt centrally at scale, the company believes it can offer customers more competitive financing than traditional standalone project funding, helping lower the financial barriers to adopting zero-emission vehicles.

Gareth Ridge, Country Director for Australia and New Zealand at Zenobē, said: “This platform represents a major step forward for zero-emission transport in Australia and New Zealand.

“By combining proven operational projects with a strong pipeline into a single financing structure, we’re able to bring greater scale, certainty and cost efficiency to fleet electrification.

“Our model removes many of the traditional barriers operators face, from upfront capital costs to technology risk, while providing a fully integrated, end-to-end solution. This allows our customers to focus on delivering cleaner, more reliable transport services, while we manage the complexity.

“With strong momentum already underway across both markets, this platform positions us to accelerate investment and play a leading role in decarbonising transport across the region.”