Zouk Capital Invest in Italian e-Mobility Firm BE Power

UK-based infrastructure and private equity investor, Zouk Capital, recently announced that it had invested in BE Power, a subsidiary of Building Energy (BE), marking the entry of the UK fund 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.

“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.”

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 landowners looking to benefit from the rapidly growing EV market.

“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.”

In February, Zouk Capital was 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.