News Summary

Montréal-based Seven Generation Capital (7Gen) has secured $48 million CAD in senior secured debt from UK-based Zenobē to scale its commercial electric vehicle (EV) platform across Canada. This funding, claimed to be the largest private EV debt financing in Canadian history, will be used to finance 400 to 500 new electric vans, buses, and trucks, along with the necessary charging infrastructure. 7Gen, founded in 2020, provides an EV-as-a-service platform that helps businesses electrify their vehicle fleets with services including EV leasing, infrastructure deployment, and supporting software. This investment from Zenobē marks its first venture into Canada, attracted by the country’s supportive government policies and clean energy supply. The deal is expected to significantly enhance the adoption of zero-emission vehicles in Canada.