Janus Electric Adds to North American Order Book with $10m Conversion Contract

Janus Electric Holdings (ASX: JNS) has received an expanded $10 million order from existing US fleet customer Ability Tri-Modal, lifting its North American order book to 45 diesel-to-electric truck conversions.

The order involves 16 Janus diesel-to-electric conversion kits (comprising motor, drivetrain, charge stations and battery mounts) and 18 swappable battery sets for delivery before mid-2027, building on four vehicle conversions already ordered by Ability Tri-Modal.

It is subject to approval of Heavy-Duty Vehicle Incentive Program (HVIP) vouchers issued by the California government, with production scheduling expected to commence on receipt of the signed order and voucher confirmation.

Janus and its authorised California dealer and conversion partner Electric Vehicle Choice have previously secured incentive approvals for Ability Tri-Modal’s first four conversion kits to the value of US$112,000 per truck, along with Port of Los Angeles “Plus” support of US$54,000 per truck.

The technology-neutral incentives recognise these conversions alongside new zero-emission vehicles, materially improving the economics of converting existing Class 8 diesel trucks to battery-electric operation.

Pipeline of Opportunities

Beyond its contracted US order book, Janus is progressing a growing pipeline of opportunities in the US, submitting proposals to additional California fleet operators and completing preliminary modelling for a 50-truck pilot program with a major Texas logistics developer.

The company is also engaged with California’s Harbor Trucking Association, which has a membership base of more than 33,500 trucks and could enable broader access to fleet operators across the US shipping container transport market.

Janus is increasing production capacity and working with key suppliers such as battery partner Electrovaya to fulfil its North American commitments.

Deliveries are expected to commence in the 4Q26 and build through 2027.

To support this ramp-up, the company is progressing a range of funding initiatives, including supply-chain and asset finance, while continuing to assess additional ways to support its growth strategy and scale operations.

Circular Energy Program

Janus is set to commence the first commercial phase of a program initiated earlier this year to integrate its heavy-duty EV technology into a series of captive, circular energy projects in Canada.

The company has partnered with a consortium of private Canadian companies specialising in transport logistics, alternative energy infrastructure, and asset finance to unite its swappable battery platform with a developer of waste-to-energy infrastructure, creating a first-of-its-kind “closed-loop logistics hub”.

The program will address range and charging infrastructure—the primary barriers to long-haul electrification—utilising the modular battery-swapping system to “refuel” trucks in minutes with packs charged directly by an on-site low-carbon power supply.

The first phase will comprise five vehicle conversions, 15 swappable battery packs and two charging stations for delivery by November followed by a further staged rollout of 20 vehicle conversions, 60 swappable battery packs, and seven charging stations.

Improved Demand Certainty

Janus managing director Ben Hutt said the company’s expanding North American order book would provide the demand certainty to scale its manufacturing and supply chain.

“The US is developing into a very substantial order book for Janus,” he said.

“California’s technology-neutral incentives make our conversion solution one of the most cost-effective pathways to zero emissions for fleet operators, which translates directly into firm orders.”

“With Canada moving into its first commercial phase, our focus now is on scaling manufacturing and delivery to convert our order book into vehicles on the road and long-term recurring revenue.”