A CleanTech firm aiming to help decarbonise the logistics sector has raised 拢17.3 million investment.
Sunswap, based in Leatherhead, Surrey, will look to expand its zero-emission Transport Refrigeration Units (TRUs) across the UK and Europe. These 鈥楨ndurance鈥� units, for articulated lorries, are powered by solar and battery energy, with solar panels on the trailer roof.
It also features a cloud-based telematics system for real-time monitoring and control.
The investment was led by BGF and included Shell Ventures, Dutch VC fund Move Energy and existing backers Barclays and the Clean Growth Fund.聽
鈥淲e are thrilled to have BGF and Shell Ventures鈥� support in our mission to decarbonise cold chain logistics,鈥� said Michael Lowe, co-founder and CEO. 鈥淭heir investment, along with the continued backing of our existing investors, is a real validation of Sunswap鈥檚 journey to date.
鈥淭his 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.
鈥淭ogether, we will work towards a cleaner, greener future for cold chain logistics, helping businesses meet their sustainability targets.鈥�
The firm, founded in 2020, reported success during a recent 10-day trial with Moran Logistics, a multi-temperature logistics specialist.
Rowan Bird, investor at BGF, added: 鈥淎s the logistics industry moves towards more sustainable practices, Sunswap鈥檚 TRU technology stands out as a leading solution for fleet operators seeking to reduce their carbon footprint and operational costs.
鈥淏GF is excited to support Sunswap in continuing to develop its technology, expand manufacturing capabilities, and strengthen its portfolio as a leader in the field of climate tech. This is a groundbreaking business with significant near-term market potential, and we look forward to being part of the company鈥檚 growth journey.鈥�