Australian heavy truck electrification specialist Janus Electric continues to advance its operations in its three key markets, announcing this week that it has grown its North American order book of diesel-to-electric truck conversions to 45.
The NSW-based Janus Electric has developed a swappable battery technology that allows fleet operators to convert existing diesel trucks into battery electric vehicles (BEVs) with a pay-as-you-go model that avoids the need for the huge upfront capital needed to buy new electric trucks.
The company said this week that it had secured an expanded order from existing US customer Ability Tri-Modal worth $A10 million, adding 16 conversion kits and 18 swappable battery sets to the previous order of four diesel-to-electric conversion kits.
The initial four conversion kit order was supported by California state incentives that collectively provided support of approximately $US166,000 per truck.
Janus also revealed that it is also progressing “a growing pipeline of potential opportunities in the United States” with various California fleet operators and flagged a potential 50-truck conversion pilot with a “major Texas logistics developer”.
North of the 49th parallel, Janus has also begun the first commercial phase of a partnership first announced back in January with an unnamed Toronto based partner. This first phase consists of five vehicle conversions and the supply of 15 swappable batteries and 2 charging stations, with delivery targeted by November.
The first tranche of conversion kits and batteries is designed to validate the operational performance of Janus’s technology under Canadian operating systems. Subject to the successful completion of this first phase, the two parties have also agreed on a subsequent rollout of a further 20 heavy vehicle conversions, 60 swappable battery packs, and 7 charging stations.
“The United States is developing into a very substantial order book for Janus,” said Ben Hutt, Janus Electric CEO and managing director.
“California’s technology-neutral incentives make our conversion solution one of the most cost-effective pathways to zero emissions for fleet operators, and that is translating directly into firm orders.
Janus Electric also revealed that it continues to progress a “pipeline of opportunities” across Australian operators in the mining, linehaul, and quarry sectors.
While Janus was sparing with specific details, these ‘opportunities’ include a signed memorandum of understanding covering eight vehicle conversions for an unnamed mining operator as well as a letter of intent from a repeat customer for a further five conversions.
“With Canada moving into its first commercial phase and a strong pipeline building in Australia, our focus now is on scaling manufacturing and delivery to convert this order book into vehicles on the road and long-term recurring revenue,” Hutt said.
On Wednesday, Janus Electric called for a trading halt on its shares on the ASX ahead of an “anticipated announcement” that the company says “relates to a material update regarding a material contract” to which it is party.
The trading halt will remain in place until either the announcement is released or the commencement of trading on 17 July, suggesting the release of an announcement is imminent today or tomorrow.
