Janus Electric Holdings Ltd (ASX:JNS) marked its return to the Australian Securities Exchange (ASX) in May 2025 with a successful A$8.8 million capital raise and renewed strategic momentum. Strong investor support will fund truck conversions, battery manufacturing and the company's Energy-as-a-Service platform.
Forward bookings are full for Q1 FY26, with fleet conversions rising from 19 to 24 trucks. Operational upgrades, product innovation and a major battery supply deal with Electrovaya Inc. have underpinned recent progress.
The company also secured a 2025 AFR Sustainability Leaders award and continues to grow its customer pipeline, supported by scalable infrastructure and a refreshed leadership team.
“Janus Electric has been diligently fulfilling its obligations as a newly listed ASX company, working closely with suppliers and customers to ensure we are fully prepared to execute our conversion pipeline,” Janus managing director Ian Campbell said.
“Our Truck Conversion operations and Battery and Energy-as-a-Service business model are underpinned by patented swappable battery technology, purpose-built for Australia’s demanding heavy transport conditions and predominantly closed-loop routes. We retrofit fleet operators’ existing diesel prime movers with swappable batteries and electric powertrains, supported by advanced charging infrastructure and intelligent energy management."
ASX relisting and strategic reset
Janus recommenced trading under the ticker JNS on May 21, 2025, after completing a reverse takeover of ReNu Energy.
The A$8.8 million raise at A$0.20 per share attracted institutional and professional investors, with the money earmarked for scaling up production of truck conversions, battery packs and charge-and-change stations, as well as advancing its digital fleet solutions.
“This innovative approach delivers lower costs, reduced operational downtime, extended fleet lifespans, and a compelling investment payback period for our customers. With Australia primed for large-scale adoption, every kilometre travelled with Janus Electric solutions amplifies our impact and drives our revenue growth,” Campbell said.
Operational ramp-up and customer progress
By quarter-end, Janus had achieved 480,000 kilometres of commercial operation, completing 2,907 battery swaps and abating 1,279 tonnes of CO₂.
Cement Australia had nine trucks either in use or in build.
A new production site is facilitating improved throughput, with forward conversion slots fully booked for Q1 FY26, bringing the total fleet to 24. As the customer base expands, Janus is also investing in scalable power and drivetrain upgrades, with new product lines such as the Flex Janus Conversion Module.
Innovation and strategic supply partnership
The Flex JCM was introduced this quarter, reducing drivetrain weight and cost while enhancing flexibility across Class 8 trucks.
In parallel, Janus signed a Commercial Supply Agreement with North American battery maker Electrovaya to co-develop lighter, safer and higher-cycle battery packs.
The next-gen packs offer a 12% increase in usable energy, up to 14,000 cycles, and six-year warranties. This partnership also provides Janus with access to Electrovaya’s global support networks, enabling broader deployment of its battery swap infrastructure.
Business development platform and customer validation
The Janus Calculator, a proprietary digital tool, was launched to help customers model cost and sustainability benefits of converting to electric transport.
The platform incorporates real-world fleet data to demonstrate reduced CO₂ emissions, extended vehicle lifespan and improved cost efficiency.
Customer feedback has been strong, with multiple engagements progressing towards new conversions. The tool strengthens customer understanding of Janus' zero-emissions offering and supports pipeline growth.
Corporate and capital management initiatives
The quarter saw completion of Janus’ acquisition, rebranding and board refresh.
The company divested its hydrogen division, realising A$50,000 upfront and future contingent payments.
Other milestones included a 200:1 share consolidation, the appointment of Grant Thornton as auditor, and retaining A$4.0 million in cash.
As of June 30, Janus had spent A$4.8 million of the raised funds, focusing on working capital, offer costs, and early-stage product development.
Outlook and growth priorities
Looking ahead, Janus will prioritise accelerating truck conversions, forming new partnerships and strengthening capital management.
The company expects increased revenue in Q2 FY26 and is targeting an 800-truck market entry with each conversion priced around A$175,000. With environmental performance, operational scalability and customer ROI at its core, Janus aims to lead Australia’s heavy transport decarbonisation.