Janus Electric Holdings Ltd (ASX:JNS) has closed the June quarter with an expanded North American order book, strengthened funding and increased production capability as it prepares to scale delivery of its heavy-vehicle electrification platform.
The quarter marked a transition from product development and early commercial deployment towards execution under the company’s Three-Horizon Growth Strategy, with Janus continuing to target 50–75 converted electric trucks on the road by December 31, 2026.
Following the end of the quarter, Janus increased its North American order book to 112 truck conversions, including about A$55 million of conditional orders covering 83 conversions in the United States.
The company also completed a A$7.68 million placement in July, taking total capital raised across its May and July placements to about A$12 million.
The additional funding would support production scale-up, order delivery and the conversion of customer commitments into receipts.
North American expansion accelerates
North America emerged as a central growth market during and immediately after the quarter, with Janus advancing customer orders, infrastructure partnerships and dealer relationships across the United States and Canada.
Construction and permitting progressed for a dedicated Janus Charge & Change Station at Ability Tri-Modal’s facility in Carson, California, while the company continued working with Greenlane on charging infrastructure at the Colton logistics precinct.
California dealer Electric Vehicle Choice is also pursuing customer, conversion and incentive opportunities for the Janus platform.
Janus signed a non-binding memorandum of understanding with Energy One (ASX:EOL) Solutions International to investigate battery swapping and charging infrastructure integrated with an autonomous virtual power plant system.
The proposed first phase would target freight corridors connected to the ports of Los Angeles and Long Beach, with Energy One expected to act as the lead applicant for available grant funding.
Initial North American truck deliveries are expected to begin from the fourth quarter of calendar 2026.
Australian conversion network expands
In Australia, Janus launched its first dealer-led conversion centre in South Australia through a partnership with Archer Heavy Equipment.
The centre is expected to support about 50 truck conversions during its first year and will complement Janus’ existing production facility at Fountaindale in New South Wales.
The dealer-led model is intended to expand conversion capacity and provide local servicing without requiring Janus to fund and operate each facility directly.
Discussions are continuing with prospective partners in Victoria, Queensland and Western Australia as the company works towards establishing a broader national conversion and servicing network.
Operational activity also continued at the company’s Moorebank Charge & Change Station, where five trucks operated by three customers completed 82 battery swaps during May.
The station delivered 28.4 megawatt-hours of charging and displaced an estimated 8,620 litres of diesel during the month.
Janus views the Moorebank facility as an operating reference point that can provide data for future battery-swap and charging infrastructure across other major freight precincts.
Investment in production and leadership
Janus invested A$1.60 million in production capability during the quarter as it prepared for higher conversion volumes.
The company appointed Simon Fitzgerald as general manager of production and engineering, bringing experience from electric bus manufacturer Custom Denning, while former Amazon executive Brooke Ditzler joined as chief operating officer.
Zorana Bull and Michael Cummings were appointed as senior advisers to the board, adding experience across transport, infrastructure, commercial strategy, capital allocation and governance.
Former chief operating officer Lex Forsyth moved into a dedicated business development role focused on expanding opportunities in Australia and North America.
The company’s near-term technology priorities include completing the deployment of its next-generation Electrovaya battery platform and adding plug-in charging capability to its Generation 2 products.
Legacy payments weigh on quarterly cash flow
Janus recorded customer receipts of A$734,000 during the quarter and a net operating cash outflow of A$3 million.
However, the result included A$927,000 in one-off payments to settle legacy obligations and A$255,000 paid to the Australian Taxation Office under a repayment plan covering historical liabilities.
Excluding those items, Janus said its underlying quarterly operating cash outflow would have been about A$1.82 million.
The company also spent A$1.39 million on investing activities, including A$803,000 on property, plant and equipment and A$801,000 on intellectual property.
Financing activities generated a net inflow of A$4.33 million, largely reflecting proceeds from the May equity placement.
Janus ended the quarter with A$2.03 million in cash and A$3.91 million in fully drawn loan facilities.
The company said it did not expect the June-quarter cash outflow to be representative of coming periods, with customer receipts expected to rise as North American orders move into production and delivery.
Focus turns to delivery
Janus enters FY27 focused on scaling production, delivering contracted truck conversions and turning its broader customer pipeline into binding orders.
The company will also continue managing costs, working capital and production investment as it moves towards commercial-scale deployment.
Its Horizon One priorities remain centred on building demand, deploying trucks and infrastructure, increasing production and commercialising the Janus platform across Australia, the United States and Canada.
