Janus Electric Holdings Ltd (ASX:JNS) has signed a Memorandum of Understanding (MoU) with EVUNI Pte Ltd, centred on a proposed A$5 million investment and the rollout of Janus’ electric drivetrain technology into Africa.
Under the MoU, EVUNI will acquire up to 25 million ordinary shares at A$0.20 each, in staged tranches tied to binding agreements and delivery milestones. The investment is expected to bolster Janus’ balance sheet and support its international growth strategy.
The agreement also grants EVUNI exclusive rights to distribute and deploy Janus’ conversion technology across African markets. Janus has committed to supplying a minimum of 250 conversion modules annually for five years, with an option to extend for a further five years.
The partnership aims to fast-track the electrification of heavy transport fleets operating in Africa’s mining and logistics sectors, positioning Janus to expand its global footprint while enabling EVUNI to spearhead regional adoption of sustainable transport solutions.
“This partnership with EVUNI represents a major milestone in our international validation, alongside the demand from US fleet company Ability Tri-Modal’s two-truck order, supporting our long-term growth strategy,” Janus Electric CEO Ian Campbell said.
“By combining our technology with EVUNI’s regional expertise, we are well positioned to deliver sustainable, scalable electrification solutions for Africa’s heavy transport sector.
“We look forward to progressing this collaboration and delivering value to our shareholders.”
Strategic collaboration
The MoU establishes a strategic partnership for the deployment of Janus’ patented electric drivetrain conversion technology, battery swap infrastructure, and proprietary fleet management software across Africa. EVUNI will act as the exclusive distributor and licensee in the region, funding the rollout and building local operational capabilities.
Janus aims to scale its “Battery and Energy as a Service” model through this collaboration, leveraging EVUNI’s networks and regulatory knowledge. Under the agreement, Janus will commit to providing 250 conversion modules annually, with both parties collaborating to adapt technology to local requirements and secure government support.
The partnership offers entry into key African logistics and mining markets, with the MoU outlining a framework for binding commercial terms and service agreements to follow.
Investment and implementation pathway
EVUNI has proposed an investment of up to A$5 million in Janus Electric, structured in two tranches. The first tranche of A$3.5 million will be provided upon signing of a binding Distribution and Licence Agreement, while the second tranche of A$1.5 million will be triggered by the first delivery of Janus’ conversion modules into Africa. In return, EVUNI will acquire up to 25 million Janus ordinary shares at A$0.20 each, providing an equity injection to strengthen Janus’ balance sheet and support its international expansion strategy.
Binding agreements are expected to be finalised by the end of September 2025, after which Janus will begin adapting its technology for African conditions. EVUNI will commit to annual orders of at least 250 conversion modules, with deliveries to commence within 12 months under a five-year contract, renewable by mutual agreement. Binding commitments remain subject to the execution of final agreements, with updates to follow as milestones are achieved.
EVUNI chief executive officer Hans de Villiers said Janus’ technology would “transform the transportation industry within sub-Saharan Africa".
About EVUNI
Headquartered in Singapore, EVUNI is an investment firm focused on electro-mobility and fleet management in sub-Saharan Africa. Its projects include the International Minerals Exchange Hub, linking the Kalahari Manganese Field to the Ngqura deep-water port using electrified freight solutions.
EVUNI’s model integrates Infinite Power’s zero-carbon electricity, electro-fuel stations, and an Electro Modular Truck (EMT) conversion solution. The company also partners with Rondebult Construction on electrification of mining trucks, offering a Battery-as-a-Service approach.
EVUNI is 50% owned by Pronexus, a venture investment firm that has provided US$12 million in funding and will establish a green bond structure for project financing.