Janus Electric lands further $45m in US orders

• Four new US fleet customers sign conditional orders
• Lifts North American order book to 112 diesel-to-electric truck conversions
• New orders follow approximately $10 million Ability Tri-Modal repeat customer orders

Janus Electric Holdings (ASX:JNS) has landed orders from four new California fleet operators for a combined 67 US diesel- to-electric truck conversions.

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The approximately $45 million in signed US fleet orders from Golden State Express, WEHACO, Tradelink and King Fio for a combined 67 diesel-to-electric truck conversions, 77 swappable battery packs and four Janus Charge & Change Stations.

The North American order book has hit 112 conversions — comprising 87 conversions in the United States and 25 in Canada.

CEO and MD, Ben Hutt, said California incentives remain a key commercial catalyst — combined HVIP vouchers and a Port of Los Angeles “Plus” grant reduce the net cost of a Janus conversion to near zero for qualifying operators.

“Additional programs may also support eligible battery and charge station costs,” he said.

“Securing signed orders from four additional California fleet operators immediately after Ability Tri-Modal expanded its commitment demonstrates the strong commercial momentum building in our US business. In announcements this week, our US order book has grown from four to 87 truck conversions across five fleet operators, taking our North American order book to 112 conversions.

“These orders significantly broaden our US customer base and the decision of these operators to adopt the Janus conversion and battery-swap platform provides important customer validation. Our focus is now on scaling production and converting this order book into delivered vehicles and long-term recurring revenue.”

Mr Hutt said the new orders demonstrate the momentum building across Janus Electric’s US business. In announcements this week, the company has secured 83 additional conversion orders: 16 from repeat customer Ability Tri-Modal and 67 from the four new fleet operators.

The four new customers are California fleet operators serving the freight and port drayage market. Their adoption of the Janus conversion and battery-swap platform provides further commercial validation, with several of the operators already experienced in battery-electric truck operations and supporting charging infrastructure.

For qualifying operators, HVIP vouchers and Port of Los Angeles “Plus” support can provide combined incentives of approximately US$166,000 per truck, reducing the net cost of a Janus conversion.

JNS was up 90.3% to 29.5¢ with a Mkt cap of $22.66M.

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