Climate Action

UK battery storage company Zenobe gets £25 million Japanese investment

A UK battery storage company, Zenobe Energy, has secured a major investment from Japanese power giants JERA and TEPCO.

  • 22 February 2019
  • Rachel Cooper

A UK battery storage company, Zenobe Energy, has secured a major investment from Japanese power giants JERA and TEPCO.

Zenobe Energy is one of the largest independent owners and operators of battery storage in the UK. They provide flexible power solutions to utilities, commercial EV operators, and commercial and industrial businesses.

The £25 million investment, with an option for a further £10 million, is one of the largest direct equity injections into a UK energy storage company.

Nicholas Beatty, a co-founder of Zenobe, said: “We consider JERA and TEPCO PG to be two of the most significant strategic investors in the power sector. They bring unique commercial and technical capabilities to Zenobe as well as unrivalled access to a global supply chain. This investment reinforces Zenobe’s reputation as an innovator in the energy market. Together, we’ll help energy intensive businesses use power intelligently to reduce costs, improve resilience and minimise environmental impact.”

Zenobe use their technology to change the load profile during peak periods when demands and prices are high. As a result, they can reduce prices up to a quarter and minimise environmental impact.

The investment will allow JERA, who are providing 95 per cent of the investment, to increase its knowledge of how batteries can respond to variances in supply and demand caused by the changing energy generation mix.

Satoshi Yajima, Senior Vice President of Overseas Business of JERA Co., Inc. said: “Zenobe has a strong track record of successful commercial innovation and application of battery storage, on the basis of its deep understanding of energy storage technologies and customer requirements, as well as leveraging important industry relationships. JERA and TEPCO PG are aligned with Zenobe’s commitment to profitable market leadership through a sustainable & strategic growth agenda.

Photograph: Zenobe Energy