Zenobē, a global fleet electrification company, has acquired California-based Revolv to expand into the U.S. commercial electric truck segment. The deal adds 13 operational sites and more than 100 electric trucks to Zenobē’s North American portfolio, which already spans school bus and public transit electrification.
Highlights
- Zenobē acquired Revolv, a commercial fleet electrification company backed by GDEV Management, to enter the U.S. electric truck market
- The deal includes 13 customer sites and over 100 electric trucks in California, along with additional projects in development
- More than 59,000 zero-emission trucks are now deployed across the U.S., with over 10,600 in California, according to a CALSTART Market Update
- Zenobē now supports over 3,400 electric vehicles across 122 depots globally
U.S. Zero-Emission Truck Market Growing
The acquisition arrives as the U.S. zero-emission truck market continues to expand. CALSTART data shows more than 59,000 ZETs are deployed nationwide. California leads the country with over 10,600 units.
Zenobē’s existing North American operations include school bus electrification projects in Methuen, Mass., Long Island, N.Y., and Chicago. A large-scale transit program in Brampton, Ont. is also in development.
What the Acquisition Includes
Zenobē has assumed operational control of Revolv’s 13 customer sites and more than 100 electric trucks in California. Additional projects are in development. The Revolv team is joining Zenobē to maintain customer continuity and strengthen commercial fleet expertise.
Andreas Lips, Zenobē’s recently appointed President of EV North America, said the Revolv model complements Zenobē’s global experience. “As commercial fleet electrification enters its next phase, operators are increasingly seeking partners who can deliver vehicles, infrastructure, financing and long-term battery performance under one roof,” Lips said.
Battery-as-a-Service Model
Zenobē’s approach centers on battery performance, health, and lifecycle value. Through its battery-as-a-service offering, the company provides performance guarantees, assumes battery and electrification risk, and captures residual value through second-life solutions.
Steven Meersman, Founder Director of Zenobē, called the deal a strong opportunity to pair Revolv’s platform with Zenobē’s financing models.
Investor Backing
Zenobē is backed by KKR and Infracapital. Shreya Malik, Managing Director of Infrastructure at KKR, said the acquisition reflects the long-term opportunity for fleet electrification and the role of private infrastructure capital in the energy transition.
Priya Veerapen, Managing Director at Infracapital, noted that Revolv provides a foundation for further growth in what she described as a hard-to-decarbonize sector. Infracapital has backed Zenobē since 2020.
Troutman Pepper Locke LLP represented Revolv and GDEV Management. Dentons US LLP represented Zenobē.
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