Janus Electric Holdings Ltd (ASX:JNS) has secured an approximately A$10 million order from existing US customer Ability Tri-Modal, lifting its contracted North American order book to 45 diesel-to-electric truck conversions.
The repeat order covers a further 16 conversion kits and 18 swappable battery sets, alongside contracted recurring revenue, taking Ability Tri-Modal’s total commitment from four to 20 trucks.
Janus now has 20 conversions contracted in the United States and a staged 25-truck commercial program in Canada, while its Australian pipeline includes potential orders from mining and transport operators.
“The United States is developing into a very substantial order book for Janus. 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," CEO and managing director Ben Hutt said.
“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.”
Ability Tri-Modal expands US commitment
Ability Tri-Modal, Janus Electric’s first US fleet customer, is expected to begin receiving the new equipment in the second quarter of financial year 2027.
The binding order remains subject to approval of applicable California Heavy-Duty Vehicle Incentive Program vouchers for the 16 additional trucks. Production scheduling will begin once the order and incentive approvals are confirmed.
The customer will use Janus Charge & Change Station infrastructure being developed at its operations in Carson, California.
The expanded commitment follows Janus’ initial US deployment and provides repeat-customer validation for the company’s truck conversion and battery-swap platform.
California incentives support conversion economics
Government incentives are helping improve the economics of Janus’ technology for California fleet operators.
Janus and authorised dealer Electric Vehicle Choice previously secured support worth approximately US$166,000 per truck for Ability Tri-Modal’s first four conversions.
This included about US$112,000 per vehicle through California’s HVIP scheme and approximately US$54,000 per vehicle from the Port of Los Angeles “Plus” program.
The technology-neutral structure of these programs recognised diesel-to-electric conversions alongside new zero-emission vehicles, helping translate fleet demand into firm orders.
The company is also pursuing proposals with other California operators, conducting preliminary modelling for a potential 50-truck pilot with a major Texas logistics developer and working with the Harbor Trucking Association, whose members collectively operate more than 33,500 trucks.
Canadian commercial rollout to begin
Janus has also reached agreement to begin the first commercial phase of its Canadian program.
The initial deployment comprises five heavy vehicle conversions, 15 swappable battery packs and two charging stations, with delivery targeted by November 2026.
This first tranche is designed to demonstrate the performance of the Janus battery-swap ecosystem under Canadian operating conditions.
Subject to successful completion, the program is expected to progress to a further 20 vehicle conversions, 60 swappable battery packs and seven charging stations.
The rollout is aligned with battery partner Electrovaya’s in-truck testing program in Ontario.
Australian pipeline continues to advance
In Australia, Janus is progressing opportunities across the mining, linehaul and quarry sectors.
The pipeline includes a signed memorandum of understanding covering eight road-train conversions for a mining operator, with pricing agreed and the transaction subject to final due diligence.
A repeat customer has also provided a letter of intent for a further five truck conversions.
Janus noted that Australian incentive programs did not consistently recognise diesel-to-electric heavy vehicle conversions on the same basis as new zero-emission trucks. The company continues to engage with government and industry in support of a more technology-neutral approach.
Manufacturing capacity set to increase
The growing order book is providing Janus with greater certainty to scale manufacturing and strengthen its supply chain. It recently strengthened its leadership and advisory team to support the commercial rollout of its heavy vehicle electrification platform across Australia, New Zealand, the United States and Canada.
The company is increasing production capacity and working with suppliers, including Electrovaya, to meet its North American commitments. Initial deliveries are expected to begin in the fourth quarter of calendar 2026 and increase through 2027.
Customer deposits, supply-chain finance and asset financing are expected to support the production ramp-up, while Janus continues to assess additional funding options.
The expansion fits neatly into the company's continued execution of Horizon One of Janus Electric’s Three-Horizon Growth Strategy, focused on commercialising its platform in core markets and establishing the foundations for the larger-scale expansion planned under Horizon Two.