Zenobe Energy Ltd., a UK-based power storage company, is currently in discussions with KKR & Co., a major US private equity firm, for a significant investment of over $1 billion.
Zenobe, established in 2017, specializes in operating large-scale batteries and providing infrastructure for electric vehicle (EV) fleets.
KKR plans to invest $750 million in the company, while existing investor Infracapital, a division of M&G Plc, is expected to contribute an additional £270 million ($339 million), according to sources familiar with the matter.
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