Janus Electric Holdings, an Australian company specializing in electric truck conversion systems and swappable battery infrastructure, has made its debut on the Australian Securities Exchange (ASX) following a successful $8.8 million capital raise. The company aims to use these funds to expand its operations and battery-swapping infrastructure, driving market adoption both locally and internationally.
Lex Forsyth, the Founder and Chief Operating Officer of Janus Electric, expressed excitement about the ASX listing, highlighting the company’s successful track record of over 2600 battery swaps and 428,000 zero-emission kilometers. This milestone marks a significant step towards their goal of decarbonizing heavy transport.
Janus Electric’s innovative battery swap technology allows for quick repowering in under five minutes, addressing a key challenge in electrifying heavy trucks – operational downtime. By retrofitting existing diesel trucks instead of manufacturing new electric ones, Janus offers a cost-effective solution that extends asset lifespans and reduces CO₂ emissions, resulting in substantial operational savings.
Despite facing challenges like the West Gate Freeway fire in 2023, Janus Electric has secured contracts with industry leaders such as Qube and Cement Australia. The company’s Managing Director, Ian Campbell, emphasized Janus’s strategic positioning to lead the decarbonization efforts in the transportation sector, with partnerships in key regions like Western Australia, South Australia, and Los Angeles.
With a focus on domestic freight routes like Sydney-Melbourne and Sydney-Brisbane, Janus Electric aims to make a significant environmental impact. Each truck conversion by Janus is equivalent to removing emissions from 20 cars annually, contributing to a cleaner environment and operational savings for businesses.
The ASX listing was supported by investments from Powerhouse Ventures Limited and European venture capital firm Kjøller. The company’s Chair, Dennis Linn, highlighted the real-world impact of Janus’s technology – reducing emissions and fostering innovation in New South Wales.
Janus Electric’s technology not only benefits the environment but also offers economic advantages to businesses operating in the freight industry. By enabling continuous operations on high-frequency routes, Janus’s solutions are poised to revolutionize the transportation sector, paving the way for a more sustainable future.
For those interested in learning more about Janus Electric Holdings, a live investor webinar is scheduled for May 23, providing insights into the company’s vision, technology, and market potential. Through its commitment to innovation and sustainability, Janus Electric is set to make a lasting impact on the transportation industry, both in Australia and beyond.
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