Zouk Capital invests in Italian electric mobility company Be Power

Building Energy Ltd and Zouk Capital have agreed Zouk’s investment in Building Energy’s subsidiary Be Power marking the UK fund’s entry into the Italian electric mobility market.

Zouk Capital has acquired a majority stake in BE Power through a capital increase. The funding will allow BE Power to continue to pursue its business strategy, which is to operate as a leading vertically integrated owner and operator of EV charging stations across Italy.

BE Power owns and operates public EV chargers through its 100% owned subsidiary BE Charge. It also operates a virtual power plant technology through its 100% owned subsidiary 4Energia, which operates as an energy trader and provides demand response services. BE Power also has a significant minority stake in an electric corporate car sharing company called ReFeel. The subsidiaries work together to offer smart solutions for EV drivers and land owners looking to benefit from the rapidly growing EV market.

Electric vehicles are experiencing significant growth on a global basis as more people join the drive towards cleaner methods of transportation. Reuters suggest automakers are planning $300bn of investment into electric vehicles in the next five to ten years. BE Power will support the transition to EVs in the Italian market.

Zouk Capital, based in London, has significant experience in the field of electric vehicle charging infrastructure in the UK, where it has invested in two companies operating in the sector since 2016: Instavolt and EO Charging. Instavolt is one of the largest operators of rapid and high powered charging infrastructure (50KW+) in the UK, having gained significant market share since the company was founded in late 2016. EO Charging is a leading manufacturer of slow/fast charging units (3-22KW) and provider of software solutions for fleets. More recently, Zouk Capital has been selected by the UK government as the preferred bidder for an investment fund dedicated to public charging infrastructure for electric vehicles. The Charging Infrastructure Investment Fund (CIIF) will be a £400m fund, with £200m from the private sector to be matched by £200m from the UK Government.

Zouk’s experience in the EV charging infrastructure space will help to support BE Power in the delivery of its business plan. Zouk has appointed Paolo Amato as Chairman and Paolo Martini as CEO of the Company.

“We are pleased to share this successful initiative with Zouk” said Fabrizio Zago, Chairman and CEO of Building Energy Group. “This transaction will give Be Power an additional advantage in the electric mobility market in Italy and abroad with the aim of establishing itself as one of the biggest players in the sector.”

“We are impressed by what BE Power managed to achieve in a relatively short period in the Italian market”- said Massimo Resta, Partner of Zouk. “Be Power’s team is extremely experienced and has a clear business plan that we believe they will successfully deliver.”

“Zouk will work closely with the management team on the development of the growth plan and on our goal of becoming a leading integrated operator in the electric mobility market in Italy” said Paolo Martini, CEO of Be Power. “We are proud that Zouk, one of Europe’s largest investors in the field of electric vehicle charging infrastructure, has invested in Be Power as we address one of the most important challenges in Italy. ”

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This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
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