Janus Electric expands North American truck conversion order book
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- Janus Electric secured an order with a gross contract value of approximately $10 million to expand its North American diesel-to-electric truck conversions.
- Following the announcement, the company's share price was up 17.24% at $0.17.
- The expansion forms part of the business execution of its Three-Horizon Growth Strategy announced in April.
Janus Electric (ASX:JNS) executed an agreement with existing United States customer Ability Tri-Modal to expand its order book to 45 diesel-to-electric truck conversions across North America.
The updated order book contrasts with previous periods by moving the company's United States order book from four to 20 vehicle conversions following this repeat contract.
There were no executive quotes provided within the formal market update.
The secondary details of the agreement outline that the project involves 16 additional diesel-to-electric conversions and 18 battery sets, alongside a separate commercial phase in Canada targeting delivery of five vehicles by November.
Following the announcement, the Janus Electric share price was up at $0.17.
The broader business strategy of Janus Electric relies on leveraging regional infrastructure incentives, such as local vouchers and port grants that reduce the net conversion cost for operators down to near zero.
To support this model, the company stated that it is executing its Three-Horizon growth strategy while advancing an Australian commercial pipeline that includes a signed memorandum of understanding for eight mining road-train conversions.
