Accelerating heavy-duty fleet electrification: Sirec Energy joins forces with VEV to build out new ‘EV as a service’ model in Greece
London, 10th September 2026
Sirec Energy and VEV are joining forces to develop and finance integrated heavy-duty fleet electrification projects in Greece, with an initial focus on buses, refuse collection vehicles and private logistics fleets. The two companies have signed an exclusive Memorandum of Understanding (MoU) and are already developing their first specific investment opportunities in the Greek market.
At the heart of the partnership is the “EV as a Service” model. Rather than requiring operators to invest separately in electric vehicles, charging infrastructure, energy and fleet management systems, Sirec Energy and VEV are developing an integrated long-term solution that brings all these elements together. The objective is to convert a significant proportion of the high upfront capital requirement into a predictable long-term cost, reducing both the complexity and investment risk associated with the transition to electrification.
VEV brings extensive expertise from heavy-duty fleet electrification projects in the UK and across Europe, combining fleet strategy, charging and energy infrastructure, energy supply and operational services in a single offering. The company’s approach to fleet electrification is built around VEV IQ, an intelligent charging and energy management platform that provides fleet operators with real-time visibility and control of vehicles, chargers and on-site energy assets through a single system. The platform supports over 6,000 commercial vehicles globally, including over 5,000 in the UK where VEV is delivering electric solutions to some of the country’s largest bus and truck operators. VEV is also entering a new phase of growth following its acquisition from founder Vitol by France-based Jolt Capital and Finland’s Tesi.
For Sirec Energy, this model has already been implemented in Greece through ZAP Taxi Club, which combines an electric taxi with financing, insurance, maintenance, energy and dedicated charging infrastructure. ZAP is developing a network of 60 fast chargers across 10 locations in Attica and, just 18 months after its launch, already has 100 electric taxis as members. Together with VEV, Sirec Energy now aims to apply the same philosophy on a significantly larger scale.
Dionissis Alissandratos, Chairman and CEO of Sirec Energy, said: “The experience of ZAP Taxi Club has demonstrated that accelerating electrification requires more than simply providing an electric vehicle. It requires financing, energy, charging infrastructure and a sustainable long-term operating model. This is exactly what we now want to bring to heavy-duty fleets
together with VEV. We are not simply financing vehicles; we are financing the transition to electrification.”
Marcelo Soares, VP Customer and Partnerships of VEV, said: “Electrifying a heavy-duty fleet is a complex energy, infrastructure and operational challenge. Our partnership with Sirec Energy combines VEV’s technology and fleet electrification expertise with Sirec’s investment capabilities and knowledge of the Greek market, creating a powerful platform to accelerate the electrification of public and private fleets in Greece.”
ENDS
About Sirec Energy
Sirec Energy is a Greek investment management firm focused on the energy transition, investing across Energy EKiciency & Clean Transport, Renewable Energy Sources and Environmental Resources. Its investments include ZAP Taxi Club, an innovative “Electric Taxi as a Service” model.
Sirec Energy is also progressing towards the first closing of its second fund, EUSIF II, which has a target size of €250 million and an investment strategy spanning the three pillars outlined above. The firm has already developed an EUSIF II pipeline representing approximately €940 million in total project investment value, with Sirec Energy’s anticipated equity investment in these projects amounting to approximately €153 million.
Find out more at: https://sirecenergy.com
