Janus Electric Holdings Ltd (ASX:JNS) earlier this week updated investors on its progress during the first quarter since listing on the ASX. Managing director Ian Campbell discussed the highlights.
Highlights
- Janus Electric completed its ASX listing and relocated to new premises to support scaling.
- Secured $8.8 million in new capital during the quarter.
- Completed an additional EV truck conversion and secured three new orders.
- A new “Charge and Change” station is in final testing before market launch.
- Innovation efforts focused on reducing kit weight, streamlining processes, and enabling rapid scaling.
- Entered a commercial supply agreement with Electrovaya to provide advanced lithium-ion battery packs.
- Partnership aims to reduce conversion risks, extend vehicle range, and improve warranty terms.
- Recorded 100,000km of EV truck use, 500 battery swaps, and 8 megawatts of power consumed since prospectus.
- Priority for the coming months is securing build slots for the remainder of the year.
Capital secured and relocation completed
Janus has secured A$8.80 million in new capital, completed a factory relocation, and advanced several operational milestones. Campbell told investors that the move to new premises will enable scaling and that the manufacturing facility is now ready to meet increased demand.
During the quarter, Janus Electric also completed one additional truck conversion, secured three new orders, and prepared a new “Charge and Change” station for launch. Campbell said the company is focused on innovation, particularly in reducing the weight of its conversion kits and improving production efficiency.
Electrovaya partnership to boost scalability
A key development was the commercial supply agreement with North American battery manufacturer Electrovaya. The company said the partnership will allow it to receive pre-assembled battery packs that can be fitted directly to trucks, removing the need for in-house assembly. It added that this would reduce manufacturing risk, improve scalability, and enable direct shipment to customers in overseas markets such as the United States.
Technology advantages and US opportunities
Janus Electric's Electrovaya technology reduces battery weight, extends range and warranty, and has had no recorded thermal incidents. While the company remains focused on the Australian market, it has two orders in the US pipeline.
Operational data since the company’s prospectus showed more than 100,000 kilometres travelled on its electric trucks, about 500 battery swaps, and 8 megawatts of power used. Campbell said maintaining cost competitiveness against diesel is a priority, noting that steady fuel prices have supported the economic case for conversion.
Focus on securing future build slots
The company told investors that securing build slots for the remainder of the year is a key focus. Negotiations with customers are ongoing, with the aim of locking in a sustainable order book for the next 12 months.
Janus Electric said these developments strengthen its commercial readiness and position it for continued growth in the heavy transport electrification sector.