Janus Electric (ASX: JNS) secured $45 million in conditional contracts to convert 67 diesel trucks to electric for four California fleet operators near the Port of LA.
Janus Electric (ASX: JNS) announced conditional contracts worth $45 million to convert 67 heavy-duty diesel trucks to electric for four fleet operators in California, the company said. The deal also includes the supply of 77 swappable battery packs and four heavy vehicle Charge and Change stations.
The contracts are with operators based near the Port of Los Angeles and the Port of Long Beach, two of the busiest freight hubs in the U.S. The company's shares doubled last week on the news, according to Small Caps, which first reported the details.
The heavy-duty electric vehicle market has been slow to gain traction, with fleet operators hesitant to replace existing diesel fleets. Janus Electric's approach uses a swappable battery architecture that allows trucks to exchange packs in minutes rather than waiting for a charge, the company said. That model lets operators keep existing chassis and avoid the cost of new prime movers.
California's aggressive emissions rules and incentive programs for zero-emission trucks reduce the net cost of conversion, making the economics more attractive for fleet owners. The contracts are conditional on finalising financing and regulatory approvals, Janus Electric said.
Separately, BHP Group (ASX: BHP) is backing two junior explorers through its Xplor accelerator program. Litchfield Minerals (ASX: LMS) and Mammoth Minerals (ASX: M79) were selected for the program, which provides technical and financial support for early-stage exploration. BHP carries an Alpha Score of 64, labeled Moderate, in the Basic Materials sector. The two companies are scheduled to present at the Noosa Mining Conference this week, where BHP Xplor representatives will conduct interviews.
The Noosa Mining Conference runs through Friday at Peppers Resort. The conference is a key networking event for Australian junior resources, drawing executives, institutional investors, and high-net-worth individuals. Small Caps and Republic IR are hosting a networking event Tuesday evening at the Elysium Resort on Hastings Street.
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