Janus Electric Secures A$10 Million US Order, Expands North American Truck Conversion Book to 45

US Order Boosts Janus Electric’s Conversion Pipeline

Janus Electric Holdings (ASX:JNS) has secured a substantial A$10 million order from Ability Tri-Modal, its first US fleet customer, expanding the latter’s commitment from four to 20 diesel-to-electric truck conversions. This binding order, subject only to approval of California’s Heavy-Duty Vehicle Incentive Program (HVIP) vouchers, includes 16 additional conversion kits and 18 swappable battery sets. Delivery is expected to commence in the second quarter of FY27, with Ability Tri-Modal utilising Janus’s Charge & Change Station infrastructure at its California operations.

The deal underscores the growing traction of Janus’s modular battery swap and conversion platform in the US market, where technology-neutral incentives have materially improved the economics of retrofitting Class 8 diesel trucks. Combined HVIP vouchers and Port of Los Angeles grants provide approximately US$166,000 in support per truck, effectively reducing net conversion costs to near zero for qualifying operators.

North American Order Book Hits 45 Conversions

Janus’s North American footprint now comprises 45 contracted vehicle conversions; 20 in the US and 25 in Canada. The Canadian program has entered its first commercial phase, with an initial rollout of five vehicle conversions, 15 swappable battery packs, and two charging stations targeted for delivery by November 2026. A subsequent staged rollout plans to add 20 more conversions, 60 battery packs, and seven charging stations, aligning with battery partner Electrovaya’s in-truck testing in Ontario.

This phased approach aims to validate Janus’s swappable battery ecosystem in Canadian operating conditions before broader deployment. Meanwhile, the US pipeline is expanding beyond the current order book, with proposals submitted to additional California fleets and preliminary modelling underway for a potential 50-truck pilot with a major Texas logistics developer. Engagement with the Harbor Trucking Association, whose members operate over 33,500 trucks, opens further access to the US port drayage market.

Australian Commercial Pipeline Advances Amid Incentive Challenges

Janus is also progressing its Australian commercial pipeline, securing a Memorandum of Understanding for eight mining road-train conversions with pricing agreed and a letter of intent from a repeat customer for five additional trucks. However, the Australian market’s development faces headwinds due to less consistent recognition of diesel-to-electric conversions within government incentive programs compared to new zero-emission vehicles.

Janus continues to advocate for a more technology-neutral framework in Australia to accelerate fleet electrification and expand market opportunities. The company’s CEO, Ben Hutt, emphasised the contrast with California’s incentives, which have been pivotal in converting demand into binding orders in the US.

Scaling Manufacturing and Funding Initiatives

To meet the growing demand, Janus is scaling its manufacturing capacity and supply chain, collaborating closely with key suppliers including Electrovaya. First deliveries under the North American orders are expected to begin in the fourth quarter of calendar 2026 and ramp through 2027. The company is also advancing funding initiatives such as supply-chain and asset finance, supported by deposits from customers, to underpin its growth strategy.

These developments align with Janus’s Three-Horizon Growth Strategy, focused initially on commercialising its platform across core markets and laying the groundwork for scaling operations in subsequent phases.