Building Energy announces the entry of Zouk Capital
The British investment fund chooses the Italian Be Charge for the development of electric mobility
Building Energy Ltd, a multinational company operating in the renewable energy sector and Zouk Capital, an investment fund active in the fields of sustainable infrastructures, renewables, electric mobility and technology have concluded the Transaction that allows the English fund to enter in the Italian electric mobility market
Zouk Capital, through a private capital increase, has acquired 51% of BE Power, the digital utility active in electric mobility with BE Charge and in the demand response sector with 4Energia and appointed Paolo Amato as Chairman and Paolo Martini as CEO. This investment will allow BE Charge to maintain the role of primary integrated operator for electric mobility and to realize one of the most and capillary public charging infrastructures for electric vehicles in Italy.
Zouk Capital, based in London, has a consolidated experience in the field of electric vehicle charging infrastructure in the UK, where since 2016 has invested in two companies operating in the sector: Instavolt and EO Charging. Instavolt in a few years has become one of the largest operators of high power charging structures (more than 50KW) in constant current.
EO Charging is a leading company in the production of low power alternating charging systems (3-22KW). More recently Zouk Capital has been selected by the UK government to collect and manage an investment fund dedicated to the development of public charging infrastructures for electric cars in UK. The fund named Charging Infrastructure Investment Fund (CIIF) will have a size of £400m, of which £200m raised from the private sector and £200m from the UK Government.
The contribution to the industrial plan of Be Power will therefore be expressed through the direct experience of Zouk Capital in the field of electric mobility.
“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 a further incentive 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 were impressed by what BE Power managed to achieve in a relatively short period in the Italian market”- said Massimo Resta, Partner of Zouk Capital. Be Power’s team is extremely competent and determined with a coherent strategic vision and significant performance capabilities”.
Zouk will contribute decisively to the development of our industrial plan and to our goal of being the integrated reference operator in the electric mobility in Italy- says Paolo Martini, CEO of Be Power – “We are proud that one of the biggest players at European level in the field of charging infrastructures has focused on us for such an important challenge in our country”.
Be Power is a Digital Utility that was created with the aim of being a leader of the radical transformation taking place in the energy sector by bringing together, through an innovative management of digital flows, the new activities of the energy market with the electric mobility sector.
Be Power offers at the same time, with its controlled companies Be Charge and 4Energia, charging services for electric vehicles through a diffused proprietary infrastructure and flexibility services to the national electricity grid by aggregating distributed energy resources (producers and energy consumers).
The group works on new market segments and addresses new categories of customers such as users of electric vehicles and potential suppliers of energy flexibility, offering new solutions, with particular attention to Demand / Response and Vehicle to Grid.