Janus Electric raised $12m in placements, cleared $1.2m in legacy debt, and booked 112 North American truck conversions worth $55m. First deliveries target Q4 2026.
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Janus Electric Holdings (ASX: JNS) entered the new financial year with 112 North American truck conversions on its books and about $12 million in fresh funding after a June quarter spent clearing legacy debt and scaling production.
The heavy-vehicle electrification group raised $4.5 million through a May placement and completed a further $7.68 million placement after quarter end. The cash supports a production ramp that Janus says remains on track for its Horizon One target: 50 to 75 trucks operating by 31 December 2026.
The order book includes conditional US orders worth about $55 million for 83 conversions announced in July. Janus expects initial North American deliveries to begin in the fourth quarter of calendar 2026 as it converts the broader pipeline into binding customer orders.
Construction and permitting moved forward on a dedicated Charge & Change Station at Ability's Carson facility in California, while work with Greenlane advanced on charging infrastructure at the Colton logistics precinct. The first phase of that infrastructure targets the ports of Los Angeles and Long Beach, with Energy One Solutions International acting as the prime applicant for grant funding.
Californian dealer Electric Vehicle Choice is working on customer, conversion, and incentive opportunities, Janus said, with Energy One Solutions International supporting planned swap and charging infrastructure along freight corridors.
In Australia, Janus launched its first South Australian dealer-led conversion centre with Archer Heavy Equipment, expected to support about 50 conversions in its first year. The centre adds conversion and local servicing capacity without requiring Janus to fund its own facility. Discussions continue with potential partners in Victoria, Queensland, and Western Australia.
At the Moorebank Charge & Change Station, five trucks operated by three customers completed 82 battery swaps and received 28.4 megawatt-hours of charging during May, displacing an estimated 8,620 litres of diesel.
Customer receipts reached $734,000 during the quarter. Net operating cash outflow was $3 million after Janus settled $1.182 million of legacy obligations and historical Australian Taxation Office liabilities. Excluding $927,000 of one-off legacy payments and a $255,000 payment to the ATO under an agreed repayment plan, quarterly operating cash outflow would have been about $1.818 million.
Janus invested $1.604 million in production capability and finished June with $2.032 million cash, before the post-quarter placement strengthened its funding position.
The company's immediate priorities include scaling contracted truck conversions, deploying the next-generation Electrovaya battery platform, and making plug-in charging capability available on Gen 2 products while managing costs and working capital.
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