Freight electrification company Janus Electric lists after raising $8.8m

• Janus Electric has joined the ASX under the ticker ‘JNS’
• The company offers electric truck conversion and swappable battery services
• 142 trucks under contract with 2600+ batteries swapped

Special Report: Formed from the acquisition of Janus Electric Limited by ReNu Energy, Janus Electric Holdings has listed on the ASX under the ticker ‘JNS’.

With an $8.8m capital raise in hand, Janus Electric Holdings (ASX:JNS) ) is rolling out its pioneering electric truck conversion systems and swappable battery infrastructure, with the goal of electrifying heavy road transport.

The raise, supported by Powerhouse Ventures (ASX:PVL) alongside European venture capital firm Kjøller, has furnished JNS with the funding needed to expand its infrastructure and market adoption.

“Listing on the ASX is a pivotal milestone in our journey to decarbonise heavy transport,” Janus Electric founder and chief operating officer Lex Forsyth said.

“We’ve demonstrated that our technology works with over 2,600 battery swaps and more than 428,000 zero-emission kilometres travelled, and we’re now ready to take this Australian-made solution global.

Eliminating battery downtime

Janus Electric’s technology is built to tackle one of the more difficult challenges in converting heavy freight vehicles to electric systems: vehicle downtime.

With traditional battery setups, vehicles must be taken out of active use to recharge, requiring large amounts of downtime or a secondary fleet of vehicles.

Rather than manufacturing new electric vehicles, Janus retrofits existing diesel heavy transport trucks into electric vehicles with agnostic hot-swappable batteries.

The upgrades can be made to any kind of truck type or battery chemistry, offering complete flexibility.

This swappable battery system reduces downtime to under five minutes, as trucks can be refitted with a new, charged battery on the fly, eliminating long charging delays entirely.

The company is targeting rapid deployment of its technology on domestic freight routes in the first stage of commercialisation, in areas where thousands of trucks operate daily, such as the Sydney to Melbourne and Sydney to Brisbane freight routes.

“Each Janus conversion removes the equivalent emissions of 20 cars per year, or 2,000 cars over a 10-year lifespan,” Janus Electric chair Dennis Linn said.

“This is real impact, built from real innovation and proudly manufactured in New South Wales.”

The road freight transport sector was valued at $79 billion by the ABS, projected to grow by 77% between 2020 and 2050 and accounting for 7.9% of Australia’s economic output.

This article was developed in collaboration with Janus Electric Ltd, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.