Janus Electric Raises $8.8m, Books Full Q1 FY26 Conversion Pipeline

Relisting and Capital Raise

Janus Electric Holdings Limited marked a pivotal moment in its evolution by relisting on the ASX under the ticker 'JNS' in May 2025, following a successful capital raise of $8.8 million. This fresh injection of funds is earmarked to reboot and scale Janus’s truck conversion and battery operations, alongside expanding its innovative Energy-as-a-Service business model. The strong institutional and professional investor support underscores confidence in Janus’s vision to electrify Australia's heavy transport sector.

Operational Progress and Market Traction

Operationally, Janus has converted 19 customer trucks, with an average of nine in heavy cycle use as of June 30, 2025. The company’s production pipeline is robust, with Q1 FY26 conversion slots fully booked, targeting 24 total customer conversions by the end of that period. This momentum is supported by a recent move to larger premises, enabling more rapid conversion throughput and efficient infrastructure production.

Strategic Battery Partnership

A cornerstone of Janus’s growth strategy is its newly inked commercial supply agreement with Electrovaya Inc., a North American leader in lithium-ion battery technology. This partnership will see the co-development of customised battery packs tailored to Janus’s patented swappable battery platform. The next-generation packs promise significant operational advantages, including a 12% increase in usable energy, a potential 20-year asset life, enhanced safety records, and a lighter battery weight that boosts payload capacity. This alliance not only strengthens Janus’s technology stack but also opens access to Electrovaya’s dealer and service networks across Australia and North America, accelerating commercial deployment and aftersales support.

Innovation and Customer Engagement

Janus continues to innovate with the launch of the Janus Calculator digital platform, which allows customers to input operational data and transparently assess the economic benefits of converting to electric trucks. Early customer feedback has been positive, validating the product’s value proposition in reducing CO2 emissions, lowering maintenance costs, and extending asset life. Additionally, the introduction of the Flex Janus Conversion Module has improved drivetrain efficiency and reduced manufacturing costs, enhancing scalability across a broader range of heavy vehicles.

Corporate Restructuring and Focus

In a strategic move to sharpen its focus, Janus divested its hydrogen business division earlier in 2025, streamlining resources towards its core electrification operations. The company also completed a capital consolidation and changed its name from ReNu Energy Limited to Janus Electric Holdings Limited, reflecting its renewed mission. Leadership changes accompanied these shifts, with a new board and management team appointed to drive the company’s ambitious growth agenda.

Outlook and Market Potential

Janus Electric is targeting an initial 1% market share of Australia’s heavy transport sector by converting approximately 800 trucks, a market with over 124,000 articulated vehicles traveling some 20 billion kilometers annually. The company’s swappable battery technology offers a compelling alternative to diesel, promising reduced operational costs, extended fleet lifespans, and significant emissions reductions. With a clear roadmap to accelerate deliveries, secure strategic partnerships, and build sustainable growth, Janus is positioning itself as a leader in the transition to zero-emission heavy transport.