What Janus Electric does

Janus Electric Holdings Ltd (ASX: JNS) is an Australian clean-tech micro-cap founded in 2021 that converts existing heavy diesel trucks into electric vehicles using a proprietary battery-swap platform. The company's core offering is a diesel-to-electric conversion service priced at approximately AUD 175,000 per truck, targeting fleet operators who can electrify existing vehicles during normal engine replacement cycles rather than purchasing new electric trucks. The platform integrates a proprietary conversion system (Janus 2.0) with a swappable battery architecture that enables rapid battery exchange instead of fixed-location charging, eliminating operational downtime. As of April 2026, the company has completed 28-30 truck conversions and over 3,600 battery swaps, supplying primarily port-drayage operators, logistics fleets, and road freight companies in Australia and California.

The business model is hardware-sales-led: revenue is generated primarily through one-time conversion fees, supplemented by government incentive facilitation (California HVIP vouchers worth up to ~USD 112,500 per truck and Port of Los Angeles grants of USD 54,000 per truck) that materially reduce effective customer cost. Distribution is hybrid — a dealer-led network in Australia anchored by Archer Heavy Equipment and targeting 250+ conversions per year, alongside direct enterprise sales in the US through Electric Vehicle Choice (California) and partnerships with fleet operators such as Ability Tri-Modal. The company also collaborates with infrastructure partners (Greenlane at Colton, Energy One Solutions International via a non-binding MOU for North America) and Canadian battery supplier Electrovaya to deploy charge-and-change stations.

Q2 FY26 operational income reached AUD 896,000, representing 190% year-over-year growth, and the company holds 100+ binding conversion orders providing forward revenue visibility alongside AUD 1.558 million in deferred revenue. Despite this growth, the company remains pre-profitable with a market capitalization of AUD 17.55 million as of March 2026, an 11-50 employee headcount, and operations spanning Australia, California, and broader North America. CEO Ben Hutt leads the company.

Name

Janus Electric

Legal name

Janus Electric Holdings Ltd

Website

https://januselectric.com.au

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Janus Electric Holdings Ltd (ASX: JNS) is an Australian clean-tech company that converts existing heavy diesel trucks to electric using a proprietary swappable-battery platform, serving fleet operators in Australia, California, and broader North America through a dealer-led and direct enterprise sales model at approximately AUD 175,000 per conversion.

Ownership category

akta.pro rank

Headquarters

HQ city

Central Coast

HQ country

Australia

HQ region

Oceania

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Truck Conversion Sales: One-time conversion fees charged to fleet operators for converting diesel trucks to electric. Conversions priced at approximately AUD 175,000 per truck with government incentives reducing effective customer cost. Revenue recognized upon delivery of converted vehicles.
2. Government Incentive Facilitation: Company helps customers access government funding (California HVIP vouchers of $112,000+ per truck, Port of Los Angeles grants of $54,000 per truck) which subsidizes conversion costs

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels3 records

Core offering

Janus Electric retrofits existing heavy diesel trucks with electric powertrains and swappable battery platforms, enabling fleet operators to transition to zero-emission operations without purchasing new vehicles. The company delivers full-service truck conversions at approximately AUD 175,000 per truck and deploys dedicated charge-and-change infrastructure at logistics precincts to support continuous operations via battery swapping.

Product overview

Janus Electric offers a unified diesel-to-electric conversion platform for heavy transport, consisting of a proprietary conversion system that retrofits existing diesel trucks with electric powertrains and swappable battery platforms, complemented by conversion services. The company charges approximately AUD 175,000 per truck conversion and operates a dealer-led network for vehicle conversions, while deploying charge-and-change infrastructure at logistics precincts.

Differentiator

Problem solved

Functional benefit

Products and services

• Diesel-to-Electric Conversion Platform A conversion system that retrofits existing heavy diesel trucks with electric powertrains and swappable battery platforms, enabling fleet operators to transition to zero-emission operations without purchasing new vehicles.
• Swappable Battery Platform
• Truck Conversion Service

Quantifiable outcome

• 60%+ share price increase following ARENA funding announcement
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered major and core.

• GreenlanemajorStrategic or Co-development Partner · 1 June 2026Infrastructure partnership at Colton logistics precinct in California. Advancing infrastructure development for electric truck operations.
• ElectrovayamajorTechnology or Integration · 1 June 2026Canadian battery partner working on scheduled deployment of swappable battery platforms for Janus conversion trucks. Electrovaya is a Canadian lithium-ion battery manufacturer with proprietary Infinity Battery Technology platform.
• Ability Tri-ModalmajorChannel Partner/ Reseller/ Distributor · 1 June 2026US logistics company that increased commitment to four conversion kits for operations at the Port of Los Angeles. Construction of dedicated charge-and-change station underway.
• Archer Heavy EquipmentcoreChannel Partner/ Reseller/ Distributor · 1 April 2026First South Australian dealer partner for conversion centre operations in Fountaindale, NSW. Facility handles about 50 truck conversions per year initially, scaling to 150-200 annually. Part of Australia-wide dealer-led rollout.
• Electric Vehicle ChoicecoreChannel Partner/ Reseller/ Distributor · 1 April 2026Authorized dealer for California market enabling Janus to access HVIP vouchers for truck conversions. Facilitated first US vouchers worth $112,500 each under California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project.
• Energy One Solutions InternationalmajorTechnology or Integration · 1 April 2026Non-binding MOU to explore rollout of electrification infrastructure across North America, focusing on battery swap and charging systems integrated with smart grid technology along freight corridors.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• SEA Electric: SEA Electric specializes in diesel-to-electric powertrain conversions for commercial vehicles, including heavy trucks, vans and buses. It is the most direct competitor to Janus Electric's retrofit-and-battery-swap offering in the fleet electrification market.
• Lightning eMotors: Lightning eMotors converts commercial vehicles (vans, trucks, shuttle buses) to electric powertrains for fleet operators, directly overlapping with Janus' conversion-driven approach to electrifying existing diesel assets.
• Xos Trucks: Xos Trucks manufactures Class 5-8 electric trucks and chassis for fleet customers, including last-mile delivery and vocational applications. It competes for the same fleet electrification budgets and decarbonization mandates Janus targets.
• Workhorse Group: Workhorse develops electric delivery vans and medium-duty trucks for last-mile fleet operators. It competes with Janus for fleet electrification spend, though it offers purpose-built EVs rather than retrofits.
• Volta Trucks: Volta Trucks designs and manufactures purpose-built electric heavy trucks for urban logistics and freight distribution, directly competing for the same fleet-operator customers and zero-emission mandates Janus addresses.

Broad incumbents

• Daimler Truck: Daimler Truck produces the eActros line of heavy-duty electric trucks and has supplied vehicles for Centurion's Perth Airport operations that Janus services. As the largest incumbent OEM going electric, it competes across the full heavy-duty EV spectrum.
• Volvo Trucks: Volvo Trucks offers the FH Electric and other heavy-duty electric truck platforms globally and is a major incumbent for fleet procurement. It represents the alternative OEM path that competes with Janus' retrofit model for the same fleet decarbonization budgets.

Emerging players

• NFI Group: NFI Group, through its New Flyer and Alexander Dennis subsidiaries, manufactures zero-emission buses and coaches. It represents an adjacent electrified heavy-vehicle platform competing for similar public and private fleet electrification funds.

Others

• Greenlane: Greenlane is building commercial EV charging infrastructure for medium- and heavy-duty trucks at logistics hubs including Colton, California — an ecosystem enabler and existing Janus partner. It is comparable as an infrastructure peer serving the same charging/corridor opportunity.
• Electrovaya: Electrovaya is a lithium-ion battery manufacturer supplying swappable battery platforms to Janus. As an enabling battery supplier with proprietary Infinity Battery technology, it is a relevant ecosystem peer and partner in the heavy-duty EV space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/JanusElectric
• Facebookfacebook.com/januselectric
• LinkedInlinkedin.com/company/januselectric

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Janus Electric