In December 2023, Mubadala invested in Zenobē, a global leader in fleet electrification and battery storage solutions. The investment was executed with Infracapital, the infrastructure equity investment arm of M&G Plc.

Founded in 2017 and based in London, Zenobē specializes in EV fleet solutions and battery storage, supporting fleet operators' transition to electric vehicles and providing battery connectivity to transmission grids. Since 2020, Zenobē has experienced remarkable growth, with over 1,000 electric vehicles supported globally and 430MW of battery storage in operation or under construction. It has a strong presence in the UK, Australia and New Zealand and a growing portfolio in continental Europe and North America.

With Mubadala's support, Infracapital is investing £270 million to further expand Zenobē's presence in the UK and globally. This strategic partnership aims to power 4,000 electric buses, trucks, and commercial vehicles by 2026, catalyzing the global shift to cleaner transportation.

Zenobē's strong track record in innovation and market leadership aligns with Mubadala's focus on investing in industries shaping the future to address global challenges like climate change. As Zenobē expands its footprint into North America and diversifies into new markets, Mubadala remains committed to supporting its mission of delivering sustainable solutions for a more resilient future.