(Clarifying Zenobe’s grid-connected battery capacity.)

Pantheon Infrastructure PLC - London-headquartered investment fund focused on infrastructure interests - Commits to investing approximately £35 million in London-based battery storage and electric vehicle fleet specialist Zenobe. Agreement made through co-investment vehicle managed by European infrastructure investor Infracapital. Says since its founding in 2017, Zenobe has had around 430 megawatts of grid-connected battery capacity in operation or under construction and has supported more than 1,000 electric buses, trucks and commercial vehicles.

Richard Sem, partner at investment manager Pantheon Ventures (UK) LLP, says: ‘We are thrilled to announce this latest transaction in a highly attractive sub-sector, which brings more diversification to [Pantheon Infrastructure’s] portfolio. Renewables and energy efficiency assets continue to benefit from strong tailwinds...We are delighted to partner with a high-quality sponsor on this transaction and look forward to working with Infracapital to deliver returns for our investors from this asset going forward.’

Current stock price: 75.81 pence

12-month change: down 27%

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