£17.3m investment in Sunswap to drive decarbonisation in cold chain logistics
London, August 27, 2024, (Oilandgaspress) –– Sunswap, a UK clean-tech startup decarbonising cold chain logistics, has secured £17.3 million through a funding round led by investment company, BGF, to accelerate the rollout of its zero-emission transport refrigeration technology across the UK and Europe. Sunswap’s pioneering combined solar and battery technology is fitted to the trailer units of articulated lorries carrying chilled consumer goods throughout the European road transport network, providing a low carbon alternative to diesel powered refrigeration.
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 Transport Refrigeration Units (TRUs).
Sunswap’s “Endurance” TRU is a breakthrough fully electric solution 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 seamlessly transition to zero-emission refrigeration without compromise.
Featuring solar panels on the trailer roof and a cloud-based telematics system, it enables operators to monitor and control units, delivering high performance and significant 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, shipping and logistics giant DFDS, as well as leading 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.
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