London-based Zenobe Energy, one of the UK’s largest independent owners and operators of battery storage, has secured a £25 million debt facility from Santander Corporate & Commercial to support its continued growth.

The company has 73MW of operational grid-scale battery capacity and focuses on the innovative use of storage (www.zenobe.co.uk).

It is applying the expertise gained through its grid-scale battery operations to providing services to transportation and power-intensive industries — turning its clean-energy ambitions into a reality, while reducing costs, increasing flexibility and improving the resilience of its power supply.

Zenobe’s innovative solution for the bus sector is enabling the faster take-up of electric buses in the UK, helping to improve air quality in towns around the country.

The company also works alongside the Government’s Ultra-Low Emission Bus (ULEB) grant offering for transport operators, making the available finance go further.

It is one of the first battery storage companies in the UK to successfully raise debt financing for projects that trade on a predominantly merchant basis, rather than longer-term contracted income.

Zenobe director Nicholas Beatty said: “This £25 million facility demonstrates our continuing leadership in the sector, with its focus on innovation within the technology, operational and financing sides of the business.

“The debt raised will be crucial in allowing us to achieve our growth ambitions.”