Zenobe Energy acquires California fleet charger Revolv, eyes Illinois, New York and Massachusetts expansion

Zenobe Energy, backed by KKR, Infracapital and Mubadala, has purchased San Francisco based Revolv, which operates 13 fleet charging facilities in California. The company, which has raised over 3 billion dollars in equity and debt since 2017, is seeking further acquisition opportunities in Illinois, New York and Massachusetts to scale its truck electrification operations. The move comes as US electric truck sales decline amid federal policy rollbacks.

Why it matters: A major infrastructure investor is committing capital to heavy duty charging despite market headwinds, signalling long term confidence in fleet electrification and potential procurement opportunities in target states. Zenobe's acquisition strategy may reshape the competitive landscape for CPOs serving commercial fleets in California and the Northeast.