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Multinational company Building Energy and investment fund Zouk Capital have concluded a transaction enabling the English fund to enter the Italian electric mobility market.

Zouk Capital, through a private capital increase, has acquired 51% of BE Power, a 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 realise one of the most and capillary public charging infrastructures for electric vehicles in Italy.

“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,” added Zago.

Charging infrastructure

Zouk Capital 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 namley Instavolt and EO Charging.

More recently the companyhas 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 £400 million ($508 million), of which £200 million ($254 million) raised from the private sector and £200 million from the UK government.

The contribution to the industrial plan of BE Power will therefore be expressed through the direct experience of Zouk Capitalin the field of electric mobility.

“We were impressed by what BE Power managed to achieve in a relatively short period in the Italian market”- said Massimo Resta, Partner at Zouk Capital.

Paolo Martini, CEO of BE Power said: “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.”

Martini continued: “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.”