Supporting bus operators to electrify their fleets

As we continue to accelerate fleet electrification in the UK, we recently announced that Zenobē has secured a further ￡410 million in financing to continue our support of electric buses.??

?This builds on our existing ￡241m platform, which was a first of its kind debt structure when established in 2022. This expanded platform will help our customers to deliver more than 2,000 new electric buses in the UK and Ireland by 2026, cleaning up the air quality of communities across the country.?

This is about more than Zenobē’s growth. It is a major milestone for the bus industry in the UK as we make the environmentally sustainable, financially sustainable.?

Public transport is a vital part of the UK economy and the country’s journey towards a greener, less polluting future. With local buses accounting for 62% of ticketed public transport journeys in the UK, bus operators have an opportunity to lead a mass transition to clean transport by switching those journeys to electric.??

There are two key changes needed in the transport sector to support the nation’s net zero targets.??

Firstly, is modal shift – getting people out of cars and onto public transport, like buses. We all know that buses are significantly better for the environment. Reports show a fully loaded double-decker can take 75 cars off the road, and if everyone switched just one car journey a month to bus it could save 2 million tonnes of carbon dioxide.? Further to that, buses are one of the least carbon intensive forms of road vehicle transport per passenger, per mile in the UK.??

Now imagine the impact if those buses were electric. This brings me to my second point – the decarbonisation of the sector. Each zero emission bus reduces carbon emissions by about 70% (46 tonnes) annually compared to a diesel bus and also avoids the 23kg of nitrogen oxides (NOx) emitted by a diesel bus each year.? There needs to be continued collaboration between local authorities, operators and the wider industry to accelerate this switch.?

Zenobē offers modular fleet electrification and financing solutions are helping operators to drive the switch from diesel to electric and clean up the air in communities. Our unique financing minimises the lifetime costs of heavy electric vehicles, their batteries and their charging infrastructure. With as-a-service models we reduce operational costs – and risks – too. Those cost savings matter today more than ever.??

The impact of our work is already being felt around the UK. Recent examples at Transdev Blazefield’s Harrogate depot we’re financing 39 fully electric vehicles, including a 15-year battery management service. Earlier this year, we financed 24 batteries on board Nottingham City Transport’s newly acquired fleet.???

The growth of our financing platform alongside our engineering experience and analytics capabilities will help more customers, and more towns and cities, electrify at speed and at scale.??

?You can read more about the deal here: https://www.zenobe.com/news-and-events/zenobe-secures-over-1-billion-of-green-debt-funding-since-2019-following-todays-announcement-of-landmark-410-million-electric-bus-financing-deal/?

?

?

?

?

?