Zenobē provides millions in debt financing to EV-as-a-service provider 7Gen
Zenobē, a UK-based provider of fleet electrification and battery storage solutions, is expanding into the Canadian market with a CA$48 million debt facility for 7Gen, a company offering electric vehicles and infrastructure as a service. The financing will support the lease and deployment of 400 and 500 commercial EVs across Canada and refinance part of 7Gen’s existing fleet.
Founded in 2020, 7Gen works with small and medium-sized businesses, school bus operators and large fleet customers to provide full-service electrification, including vehicle procurement, financing, charger installation, and energy management. The EV-as-a-Service provider operates across Canada’s main electrification markets and offers electric vans, trucks, and school buses.
According to Zenobē, the financing marks the largest known private EV debt financing in Canada to date and is intended to accelerate the adoption of zero-emission vehicles. The transaction positions commercial electric fleets as a more mature and financeable asset class in North America.
“We’re bringing our innovative funding approach to Canada and specifically to 7Gen,” said Steven Meersman, Co-Founder and Director of Zenobē. “We see momentum behind decarbonisation in Canada’s supportive government policies and the clean, affordable power that will ensure a lower total cost of ownership for zero-emissions vehicles. We look forward to sharing our global experience electrifying over 120 depots to benefit 7Gen, its fleet customers and the wider electric fleet market in Canada.”
Zenobē was founded in 2017 and says it has supported more than 2,000 electric vehicles globally, offering fleet electrification, infrastructure financing, and battery management services in Europe, the US, Australia and New Zealand. This Canadian facility builds on the company’s strategy of scaling EV deployment through flexible financing models tailored to local conditions.
“Zenobē’s debt financing supports 7Gen’s next growth step and allows us to help our customers step up the pace of their EV adoption and benefit immediately from operational cost savings,” commented Frans Tjallingii, CEO of 7Gen. “Zenobē’s team is well aligned with ours and we are thrilled to partner to scale our impact in Canada together.”
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