Z Energy invests in Mevo

Electric car sharing company Mevo is thrilled at Z Energy’s decision to invest $250,000 in the business.

Mevo will use the money to boost its Wellington-based fleet up to 50 vehicles, NZ Herald reports.

Mevo co-founder Erik Zydervelt, says the funding is a win for the company.

“We’re excited to have forward-thinking partners who support our mission to not only lower carbon emissions, but to increase the liveability of Wellington by reducing the number of cars on the road.

“The investment from Z Energy is a reflection of their interest in renewable energy innovation and their commitment to lowering their impact on the environment.”

Z chief executive Mike Bennetts says Mevo has plenty of potential to expand.

“We are proud to support and invest in a New Zealand company helping change how people get around.”

Bennetts says the investment is a natural progression for Z, which regards itself as a transport fuel company and has electric vehicle chargers at several of its sites.