Sunswap secures £17.3m investment
26th August 2024
UK: Sunswap, the UK pioneer in combined solar and battery technology for refrigerated trailers, has secured £17.3m through a funding round led by investment company BGF.
The investment will accelerate the rollout of the low carbon alternative to diesel powered refrigeration across the UK and Europe.
In addition to BGF, the investors include Shell Ventures, Dutch venture capital fund Move Energy, and existing backers Barclays and Clean Growth Fund.
Sunswap’s Endurance transport refrigeration unit is a fully electric solution that combines advanced battery technology, solar power, and rapid charging.
The technology has undergone rigorous commercial trials with industry leaders such as Tesco and Muller, with Sunswap boasting a growing order 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 technological development.
