Quantron, a German company specialising in electrifying road freight transport, has launched a B-financing round to target investors in the United States and Canada. The company aims to secure an equity investment ranging from €200 to 250 million, along with growth financing of €100 million.
With a platform strategy focused on fuel cell trucks and the associated ecosystem, Quantron intends to drive the electrification of road freight transport. The Augsburg-based company reports strong interest from strategic investors and financiers in the energy sector. However, no specific completion date has been provided for the B-financing round.
Quantron recently concluded an A-financing round in September 2022, raising up to €50 million. Investors in that round included German machinery and equipment manufacturer Neuman & Esser, as well as Canadian fuel cell technology group Ballard Power Systems. Prior to that, seed rounds were completed in March 2021.
The upcoming B-round emphasises the significance of the USA and Canada in Quantron’s future business strategy. In October 2022, Quantron established a subsidiary in the USA focused on hydrogen solutions for long-haul transport. Furthermore, the company unveiled a US Class 8 H2 truck designed for the US market at the Advanced Clean Transportation Expo in Anaheim, California, in May this year.
Quantron also announced the launch of a joint venture with Goldstone Technologies. Details regarding the financial and shareholding aspects of the joint venture, named Roqit, have not been disclosed. However, Quantron states that Roqit will concentrate on the Canadian and US markets, aiming to establish an AI-supported fleet and a zero-emission platform. This joint venture represents a crucial component of Quantron’s North American Quantron-as-a-Service (QaaS) capability. The ecosystem in North America encompasses fleet management, insurance-as-a-service, hydrogen economy, greenhouse gas accounting (GHG quotas), and data insights.