The recently founded New York-based JKH Capital has agreed to invest £2,3m in UK battery company Zenobe. Zenobe said the funding from JKH Capital would also allow it to enter new markets in Europe.

The Demand for energy storage is rising as the UK government is scheduled to ban sales of combustion engine cars by 2035 and meet its target of having zero gas emissions by 2050.  Batteries are increasingly being used to help the electricity grid to supply from renewable sources such as wind and solar power.

Zenobe helps vehicles go electric by providing batteries, charging stations, and software management to managing the charging of vans, buses, and other vehicles. Financing the batteries, the company is helping to lower costs for bus operators and logistic companies.

Zenobe has developed its own software for managing batteries that provide information such as frequency balancing to the National Grid. It also provides batteries to industrial customers that enables them to lower their energy bills. 

According to James Gilbert, Vice President of Finance,  “at JKH Capital we’ve learned that investing and sharing experiences at an early stage is all about the Founder. Their passion, energy, experience, and ambition. We are looking to diversify our investment always considering our goal to empower people to make a difference on the environmental challenge that our planet is facing”

Get to know another JKH Capital investment on Renewables: Helius Energy