Highlights

  • Electrovaya committed to subscribe for 4,193,270 Janus shares at A$0.4847 each, raising about A$2.03 million.
  • A A$3.1 million repeat order lifted the North American conversion book to 124 trucks in late October.
  • Janus announced A$11 million of facilities from Commonwealth Bank of Australia on 23 October 2026.
  • A non-binding memorandum of understanding with ConGlobal covers a proposed 20-truck electric conversion pilot.

A battery supplier has become a Shareholder in Janus Electric Holdings (ASX:JNS), with Canadian battery maker Electrovaya agreeing to a strategic Placement in late October 2026 as the truck electrification company moves to procure ready-made battery packs from it and Fill a growing North American order book.

Janus, formerly ReNu Energy, converts diesel prime movers to electric using swappable battery technology. It also manufactures battery packs and charge-and-change stations and runs a software platform for monitoring and energy management, with a charging network spanning New South Wales, Victoria, South Australia, Western Australia and Queensland.

Electrovaya Placement Ties Battery Supply to Equity

Janus signed a term sheet with Electrovaya on 27 October 2026 and announced a binding commitment the next day. Electrovaya will subscribe for 4,193,270 shares at A$0.4847 each, raising about A$2.03 million before costs, and Janus is also issuing 6,289,904 warrants to Electrovaya at a nil issue price.

A cleansing prospectus dated 30 October 2026 allows the placement shares and any shares issued on exercise of the warrants to be traded freely. Following the placement, Janus will have 188,835,060 shares on issue.

North American Orders and October Funding Moves

Orders from the United States and Canada built quickly through July 2026. A A$10 million US conversion order on 13 July lifted the book to 45 trucks, and further US orders worth A$45 million announced on 16 July took it to 112. A A$3.1 million repeat order announced on 27 October then raised the North American book to 124 trucks.

Janus also announced a non-binding memorandum of understanding with ConGlobal on 26 October for a proposed 20-truck pilot. Because the agreement is non-binding, any pilot remains subject to further agreement.

On funding, Janus received firm commitments for a A$7.68 million placement in July, announced a A$1.91 million Research and Development tax refund on 20 October that it said reduced Debt and interest, and announced A$11 million of facilities from Commonwealth Bank of Australia on 23 October. Its shares also began trading on the Frankfurt Stock Exchange in July.

Scaling Deployment Remains the Focus

Janus has converted 25 trucks to date and has not yet generated a profit, operating on a negative cash operating basis. Its stated plans are to deliver the 124-truck North American order book, grow its ecosystem of battery packs and charge-and-change stations, and expand in the United States, which the company notes brings regulatory compliance requirements. Building Manufacturing capacity ahead of orders could require further funding.

The company has also strengthened its leadership. Former Tesla Australia general manager Rudi Tuisk became Head of Customer on 21 September 2026, focused on fleet and dealer enablement, while transport and infrastructure director Zorana Bull joined the board as a non-executive director.

Shares were unchanged at A$0.48 on 2 November 2026, giving the company a Market Capitalisation of A$81.77 million and a 12-month gain of 182.35%.