Law firm Stephenson Harwood LLP has advised Zenobē Energy on its £20 million financing arrangement from NatWest.

Zenobē Energy, one of the UK’s largest independent owners and operators of battery storage, has secured £20 million of contracted receivables funding from NatWest’s Specialist Structured Finance Group. By financing the deployment of approximately 100 electric buses, this funding will support the company’s continuous growth in the electric vehicle sector.

“We were really pleased to advise Zenobē – one of our key clients – on this innovative and strategically significant funding. With the changing legislative landscape, where electric buses now form a core part of the country’s environmental efforts, investing in green technologies is more important than ever,” said Lisa Marks, partner, Stephenson Harwood. “Having previously advised Zenobē in relation to its bus operator contracts for battery and charging services, and the provision of bus chassis, it was particularly satisfying to have been able to support them in realising this novel and complex funding arrangement. We look forward to continuing to support them as they realise their long-term strategic priorities.” 

The Stephenson Harwood team was led by partner Lisa Marks, with support from associate Alexander Troop.