Infrastructure fund manager Zouk Capital is expanding its EV portfolio, taking a majority stake in Italian e-mobility firm BE Power.
BE Power, itself a subsidiary of Building Energy, operates a network of public EV chargers through its subsidiary BE Charge.
It also operates virtual power plant technology through a second subsidiary, 4Energia, and has a significant minority stake in electric corporate car sharing company ReFeel. BE Power’s subsidiaries work together to offer smart EV solutions for drivers and landowners.
The investment reflects Zouk’s growing EV ambitions, having recently been named as the preferred bidder for the UK government’s Charging Infrastructure Investment Fund (CIIF).
Zouk has previously made investments into UK EV charging companies EO Charging and Instavolt.
Paolo Martini, CEO of BE Power, said Zouk will work closely with management to develop BE Power’s growth plan and goal of becoming a leading integrated operator in Italy.
“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.”
Fabrizio Zago, CEO of Building Energy Group, said: “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.”