Janus Electric Holdings Limited (ASX: JNS), an Australian innovator in heavy vehicle electrification, has announced it has secured A$11 million in financing facilities with the Commonwealth Bank of Australia (CBA). The company offers a turnkey solution through its patented battery swap platform, truck conversion kits, charging infrastructure, and integrated fleet management software, delivering a zero-emissions model for the freight and logistics sector. These new facilities are set to support Janus Electric’s commercial expansion, particularly its North American order book and growing production requirements.
The financing package comprises a A$10 million revolving trade finance facility and a A$1 million asset finance facility. The trade finance component is designed to provide working capital, enabling Janus Electric to scale up production and facilitate the delivery of its orders, especially those destined for North America. Complementing this, the asset finance facility will fund the necessary equipment required to expand the company’s production capacity and meet increasing customer demand. The secured funding is crucial for the delivery of the initial US truck conversions from its 118-truck order book, which are anticipated for dispatch in the second quarter of the current financial year.
Ben Hutt, CEO and Managing Director of Janus Electric, highlighted the significance of the agreement, stating, “Securing these facilities with CBA is an important milestone as we move into the next phase of commercial growth. They give us the capacity to deliver against our North American order book and to invest in the equipment needed to scale operations, strengthening our financial position as we transition to commercial scale.” The trade finance facility is a revolving arrangement, subject to CBA’s annual review and customary lending conditions, and is secured against the company’s assets. Drawdowns from both facilities will align with the company’s operational requirements.
