Zenobē provides $48M to 7Gen to expand EV fleet in Canada

LONDON and MONTREAL — Zenobē, a fleet electrification and battery storage company, is providing a facility of $48 million in debt financing to 7Gen, Canada’s EV-as-a service provider, to scale its commercial EV leasing platform and deploy electric vehicle infrastructure across the country.

7Gen will apply the proceeds to finance between 400 to 500 new commercial electric vehicles bundled with charging solutions, while refinancing a portion of its current fleet. This will grow 7Gen’s fleet and help accelerate the adoption of zero-emission trucks across Canada.

Steven Meersman, co-founder and director of Zenobē, said, “We’re bringing our innovative funding approach to Canada and specifically to 7Gen. 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-emission 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.”

Frans Tjallingii, CEO, 7Gen, said, “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. Zenobē’s team is well aligned with ours and we are thrilled to partner to scale our impact in Canada together.”