Janus Electric Holdings Enters FY27 with North American Orders and Fresh Funding

Janus Electric Holdings (ASX: JNS) kicks off the 2027 financial year with an expanded North American order book and additional funding after using the June quarter to address legacy obligations and build production capability.

The heavy-vehicle electrification group raised $4.5 million through a May placement before completing a further $7.68m placement after quarter end, providing about $12m to support production scale-up.

Its North American order book grew to 112 truck conversions, including conditional orders worth about $55m for 83 conversions in the US announced during July.

Janus remains on track towards its Horizon One target of having 50 to 75 trucks operating by 31 December 2026 as it shifts its focus towards execution, delivery, and customer receipts.

Delivery Pipeline Building

Janus is preparing initial North American deliveries from the fourth quarter of calendar 2026 while continuing to convert its broader commercial pipeline into binding customer orders.

Construction and permitting progressed for 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.

Californian dealer Electric Vehicle Choice is working on customer, conversion, and incentive opportunities, with Energy One Solutions International supporting planned swap and charging infrastructure along freight corridors.

The first phase of that proposed infrastructure is targeting the ports of Los Angeles and Long Beach, with Energy One Solutions International acting as the prime applicant for grant funding.

Australian Network Capacity

Janus launched its first South Australian dealer-led conversion centre with Archer Heavy Equipment, which is expected to support about 50 conversions during its first year.

The centre adds conversion and local servicing capacity without requiring Janus to fund its own facility and complements the group’s existing operation at Fountaindale in New South Wales.

Discussions are continuing with potential partners in Victoria, Queensland, and Western Australia as Janus works towards a broader national conversion and servicing network.

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.

Continued Commercial Scale-Up

Customer receipts reached $734,000 during the quarter, while net operating cash outflow was $3m after Janus settled $1.182m of legacy obligations and historical Australian Taxation Office liabilities.

Excluding $927,000 of one-off legacy payments and a $255,000 payment to the Australian Taxation Office under an agreed repayment plan, quarterly operating cash outflow would have been about $1.818m.

Janus invested $1.604m in production capability and finished June with $2.032m cash, before the post-quarter placement strengthened its funding position.

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.