London, UK: Sunswap has obtained £17.3m from a funding round led by investment company, BGF.
The £17.3m invested by Shell Ventures, Dutch venture capital fund, Move Energy, and existing backers Barclays and Clean Growth Fund, will accelerate the further development and production of Sunswap’s zero-emission truck refrigeraton.
Sunswap’s “Endurance” is an electric system that eliminates tailpipe carbon emissions while providing a viable cost-effective alternative to traditional diesel units. By combining advanced battery technology, solar power, and rapid charging, Endurance enables fleet operators to transition to zero-emission refrigeration.
Solar panels on the trailer roof and a cloud-based telematics system, enable operators to monitor and control units, delivering high performance and operational savings.
Sunswap’s technology has undergone rigorous commercial trials with industry leaders such as Tesco and Muller, demonstrating superior performance and lower total cost of ownership compared to traditional diesel units.
The business has a growing customer book including equipment services provider TIP Group, DFDS, as well as UK operators. Funding will be used to expand production to meet growing customer interest, increase a nationwide service network, and further advance our technological development as the business looks to capitalise on significant market opportunities in the UK and Europe for cleaner, more sustainable transport solutions.
Michael Lowe, chief executive, Sunswap said: “This funding will be instrumental in accelerating our growth and expanding our presence in the UK and European markets. It will enable us to ramp up production, support further customer trials, and invest in the development of our zero-emission technology. Together, we will work towards a cleaner, greener future for cold chain logistics, helping businesses meet their sustainability targets.”
