Sunswap, a pioneering UK clean-tech startup targeted on decarbonising chilly chain logistics, has secured £17.3 million in a funding spherical led by funding firm BGF.
The funding will speed up the deployment of Sunswap’s modern zero-emission transport refrigeration know-how throughout the UK and Europe, marking a big step ahead within the effort to cut back carbon emissions within the logistics business.
Sunswap’s cutting-edge “Endurance” Transport Refrigeration Unit (TRU) is a completely electrical resolution designed to exchange conventional diesel-powered items, providing a cleaner, extra sustainable different for the transportation of chilled items. The Endurance TRU combines superior battery know-how, solar energy, and fast charging capabilities, permitting fleet operators to transition to zero-emission refrigeration with out sacrificing efficiency or cost-effectiveness.
The £17.3 million funding consists of contributions from Shell Ventures, Dutch enterprise capital agency Transfer Vitality, and present backers Barclays and the Clear Development Fund. This funding will assist the additional growth and manufacturing of Sunswap’s TRUs, which have already demonstrated superior efficiency and a decrease whole price of possession throughout business trials with main business gamers like Tesco and Müller.
Sunswap’s know-how is distinguished by its integration of photo voltaic panels on trailer roofs and a cloud-based telematics system, enabling operators to watch and management refrigeration items remotely. This not solely enhances efficiency but additionally delivers vital operational financial savings for logistics corporations.
The corporate’s rising buyer base consists of distinguished names comparable to tools companies supplier TIP Group, delivery and logistics big DFDS, and main UK fleet operators. With this new funding, Sunswap plans to develop manufacturing to satisfy rising buyer demand, broaden its nationwide service community, and proceed advancing its technological improvements.
Michael Lowe, co-founder and CEO of Sunswap, expressed his pleasure in regards to the partnership with BGF and different buyers: “We are thrilled to have BGF and Shell Ventures support in our mission to decarbonise cold chain logistics. This funding will be instrumental in accelerating our growth and expanding our presence in the UK and European markets. Together, we will work towards a cleaner, greener future for cold chain logistics, helping businesses meet their sustainability targets.”
BGF investor Rowan Chicken highlighted the importance of Sunswap’s know-how: “As the logistics industry moves towards more sustainable practices, Sunswap’s TRU technology stands out as a leading solution for fleet operators seeking to reduce their carbon footprint and operational costs. We are excited to support Sunswap in continuing to develop its technology and expand its manufacturing capabilities.”
Stephen Worth, Funding Director on the Clear Development Fund, added: “With this further investment, Sunswap is poised to accelerate the decarbonisation of cold chain logistics and rapidly transition the industry away from highly polluting legacy technology.”
James Ferrier, Director of Principal Investments at Barclays Sustainable Influence Capital, additionally emphasised the significance of Sunswap’s developments: “Sunswap’s latest acceleration towards a fully electric, zero-emission alternative to diesel-powered TRUs represents a major step forward for the logistics industry. We are proud to help scale this essential clean tech solution.”
As Sunswap continues to drive innovation in chilly chain logistics, this newest funding spherical will play a vital function in supporting the corporate’s bold plans to rework the business and contribute to a extra sustainable future.
