Zenobē Energy - Experts & Thought Leaders

Zenobē, the EV fleet and battery storage specialist, has selected EDF to continue to be the company’s partner of choice for trading and optimization of its battery assets. EDF and Zenobē have recently renewed their battery trading and optimization contracts for 59MW consisting of the Claredown, Aylesford, and Kings Barn battery assets. This means Zenobē will continue to have access to the full range of flexibility markets including the wholesale market and balancing mechanism, utilizing EDF’s trading expertise. Frequency balancing services The partners have also signed a new 12MW/24MWh trading and battery optimization contract which forms part of the new zero carbon electricity infrastructure at the Waterside Innovation Hub, in Swindon. When the project goes live in early 2023, the battery will support the National Grid ESO by providing frequency balancing services and have access to the wholesale energy market and Balancing Mechanism, managed by EDF’s trading team. The deal enables Zenobē to work collaboratively with EDF’s trading team and select asset trading strategies in line with fast evolving market conditions. In addition, Zenobē’s 100MW battery in Capenhurst, that the partners contracted on in 2021, is planned to go live later this year. When fully operational, this will make the Capenhurst site the largest single battery to connect directly to the transmission system in Europe. Energy storage systems EDF will optimize this asset for Zenobē which will enable access to a variety of revenue streams EDF will optimize this asset for Zenobē which will enable access to a variety of revenue streams, including ancillary services such as Dynamic Containment and Balancing Mechanism as well as wholesale optimization. These Battery Energy Storage Systems (BESS) will help balance power generation with demand, lowering costs for consumers and provide a secure and reliable source of power. Zenobē currently has c.235 MW of contracted storage assets and is on track to have >1GW of battery storage by 2026. EDF is a provider of route to market services for storage developers and investors and committed to the long-term future of energy storage systems. Trading and optimization contracts Stuart Fenner, Head of Energy Trading Services at EDF said: “We are very pleased that the team at Zenobē have renewed existing trading and optimization contracts with us and signed a new 12MW contract. EDF is committed to expanding the partnership with Zenobē further and we look forward to continuing to work together. This partnership will provide essential flexibility to the energy system and reinforces EDF’s commitment to helping Britain achieve net zero.” James Basden, Co-Founder and Director of Zenobē, said: “The EDF team delivers leading trading and optimization services and brings a wealth of energy industry experience, providing valuable expertise on the market and industry regulation. Battery storage projects like these are essential in balancing the grid, making clean, affordable power accessible, and enabling the UK to reach its climate goals.”

DNV, the independent energy expert and assurance provider, has acted as technical advisor to Zenobē Energy as it secured a GBP 241 million structured finance deal to expand its electric vehicle (EV) offering. independent technical assessment DNV provided a tailored scope including battery replacement cost forecast, technical site portfolio review DNV conducted independent technical due diligence of Zenobē Energy’s portfolio of 430 electric buses and depots in the UK and Republic of Ireland, to assess the technical risks for this innovative and bespoke funding package deal for the lenders. DNV provided a tailored scope including battery replacement cost forecast, technical site portfolio review, vehicle useful economic life assessment, estimation of CO2 savings, and charging performance review to enable a complete appraisal of the business case. transition to zero-emission EVs The UK Government has signaled the transition to zero-emission EVs by announcing investment and laws to advance the electric vehicle revolution, including bringing forward the phase-out date for the sale of new petrol and diesel cars and vans to 2030. DNV’s Energy Transition Outlook forecasts that the electrification of road transport is fast. By 2050, more than 90% of all passenger vehicle sales will be EVs. It is anticipated that there will be 1.3 billion passenger electric vehicles on roads around the world by mid-century, as oil demand more than halves in the transportation sector. green road transport system Achieving a greener transport future will help to meet legally binding climate change targets and improve air quality" Hari Vamadevan, Regional Director UK & Ireland of Energy Systems at DNV said, “We are delighted to have provided our in-depth independent technical knowledge to support Zenobē Energy in its efforts to secure funding to expand its operations across the UK and Republic of Ireland.” “The pioneering funding platform will enable Zenobē Energy to provide services to accelerate the transition to a green road transport system. Achieving a greener transport future will help to meet legally binding climate change targets and improve air quality across the UK and Ireland.” e-bus portfolio Tim Boothman, Director of Corporate Finance at Zenobē Energy, said, "We were grateful for DNV's commercial and technical support in reviewing our e-bus portfolio. The DNV team was able to communicate effectively the nature of the technology to our lenders and take a clear view on the risk mitigation measures we have put in place." Zenobē Energy is a UK market pioneer in EV fleets and battery storage, with 175 MW of operational and contracted storage assets and 394 EV buses, or an estimated 25 percent market share of the UK operational EV bus sector. It currently works with all major bus operators in the UK.

DNV, the independent energy expert and assurance provider, is participating in one of Australia’s leading end-to-end bus depot electrification projects. The AUD 40-million initiative in New South Wales is being developed by a joint venture (JV) between leading UK-based battery storage operator Zenobē and Transgrid, the operator of the NSW high-voltage electricity grid. On one of NSW’s major electric bus pilots, the project forms part of the State government’s plan to transition its 8,000-strong bus fleet to zero-emission vehicles by 2030. next-generation electrified public transport The project highlights what our future power system can look like, and the central role of a smart grid" “We are delighted to have leveraged our global expertise in a large-scale electric vehicle, renewable generation, and battery storage technologies for this project which will help accelerate the roll-out of next-generation, electrified public transport in Australia,” said Brice le Gallo, the Regional Director for Energy Systems Asia Pacific at DNV. “The project demonstrates the multiple functions that a battery energy storage system (BESS) can perform: storing solar energy, charging electric buses, and helping support a more stable grid. It also highlights what our future power system can look like, and the central role that a smart grid combined with EVs and renewable generation can play in Australia’s low-carbon energy future,” adds Brice le Gallo. innovative outcomes Zenobē Co-Founder and Director, Steven Meersman said they selected DNV as the independent risk and assurance expert, to deliver innovative outcomes with security and confidence. He stated, “When we are delivering the future today, we need to work with like-minded partners who can assess solutions that are pioneering the industry."  holistic solutions We need holistic solutions to overcome the challenges and seize the opportunities from electrification" Steven Meersman adds, "Our energy and transport networks are merging, which means we need holistic solutions such as the ones presented in this project to overcome the challenges and seize the opportunities that come from large-scale electrification." He continues, “We are glad to be growing Zenobē’s portfolio to include Australia and look forward to building on this innovative project and continuing to partner with local operators.” multipurpose energy hubs Transgrid's Acting CEO Brian Salter welcomed the support of partners in delivering the project. He said, “Our energy system is evolving rapidly and electrification of transport is an essential feature of the modern energy system and this initiative is a welcome addition to the grid-scale batteries and multipurpose energy hubs we are developing throughout Australia. We are delighted to see this project going forward.” Project details The project will involve the supply of 40 electric buses and the transformation of the Leichhardt Bus Depot Zenobē and Transgrid’s project will involve the supply of 40 electric buses and the transformation of Sydney’s Leichhardt Bus Depot, which is operated by Transit Systems, into a next-generation electric charging terminal. The venture will also install an integrated solar photovoltaic generation and BESS to supply power to the depot and to provide support services to the grid. additional funding The Australian Renewable Energy Agency (ARENA) has awarded an AUD$5-million grant to the initiative, with additional funding secured from the Clean Energy Finance Corporation (CEFC). As part of the lending requirements, Zenobē sought due diligence expertise from DNV on the main technical aspects of the project. This advice, which was critical to securing project funding, included high-level appraisal, risk, and mitigation analysis undertaken by DNV on the: Selected equipment for the project, including the accessibility of spare parts (bus battery replacements, timing, cost, and service impacts); Supplier suitability, reliability, and compatibility with the bus operating schedule (route, distance/kilometers, and kWh); and Solar power flows, BESS charging/discharging and power grid imports and exports. DNV also advised the JV on the project’s commercial operation and contracts, the grid connection process (including the need for it to be capable of meeting the complex requirements of the bus depot’s charging infrastructure), and technical assumptions associated with the project’s financial modeling. zero-emissions transport The electrification of transportation and roll-out of EV infrastructure is key to global energy transition Large-scale, integrated EV, renewable generation, and BESS projects are in the early stages in Australia but are poised to grow in scale and scope as the push for zero-emissions transport gather pace. The electrification of transportation and roll-out of EV infrastructure is a key component of the global energy transition, with the convergence and declining costs of solar PV, BESS, and EVs accelerating this transformation. Government and private sector collaboration are critical in building momentum for energy transition initiatives with supporting grants from ARENA and CEFC playing a leading role in developing the business case for smart network solutions. Green public transport The greening of commercial vehicles, such as public bus fleets, offers significant efficiency benefits over the electrification of private vehicles. These include economies of scale leading to lower fuel and maintenance costs, enhanced energy security, and a reduction in air pollution by NSW’s Clean Air Strategy 2021-2030. Greening public transport also has a larger and more immediate impact on greenhouse gas emission cuts and climate action, in line with the objectives of the Paris Agreement and Australia’s Nationally Determined Contribution (NDC).