KKR Fuels Electric Ambitions With $750M Zenobē Investment: Targets EV Adoption From Bus Operators

KKR & Co. Inc. (NYSE: KKR) invests approximately $750 million to scale Zenobē, a provider of transport electrification and battery storage solutions, to accelerate the global decarbonization of diesel fleets. 

KKR plans to work with Zenobē to meet the growing demand for EV adoption from bus operators and other commercial fleet businesses globally. 

KKR and current majority shareholder, Infracapital, to become joint majority shareholders of Zenobē's in a strategic partnership. 

Also Read: KKR Gets Price Target Bump Following Q2 Earnings & Acquisition Deal

Based in London, Zenobē's EV fleet business provides end-to-end solutions to transition conventional internal combustion engine vehicles to electric. 

KKR's investment in Zenobē is the first to be made through the firm's global climate strategy, which is part of KKR's $54 billion international Infrastructure business and dedicated to investing in solutions at scale to support the transition to a low-carbon economy.

Also See: KKR Takes Chase Private In $1.3B Deal

"We see significant growth opportunities within Zenobē's existing customer base, as well as huge potential in new markets globally. We are excited to bring our operational expertise within KKR's global platform to actively support the company in continuing to further build a market leading and climate critical business," said Shreya Malik, Director in KKR's European Infrastructure team.

Price Action: KKR shares are trading lower by 0.89% to $61.17 on the last check Thursday.

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