Windrose Technology, a Hong Kong-based electric heavy-duty truck developer, raised US$110M in Series B funding.
Backers included HITE Hedge Asset Management, Goodman Group (ASX:GMG), and others. Part of the series B financing was in the form of bank debt, led by HSBC through its HSBC New Economy Fund, a USD3 billion specialist lending scheme to start-ups and tech-led businesses.
The company intends to use the funds to accelerate the testing and deployment of its electric long-haul trucks globally, to set up a new supply chain center and production facility, as well as to implement fast-charging infrastructure.
Led by CEO and Founder Wen Han, Windrose Technology is building the next generation of zero-emission and intelligent long-haul trucks that serve customers in moving consumer and industrial goods, offer cleaner and cheaper logistics around the world. The company’s first electric long-haul truck has a range of 670km under full load of 49 tons. The Windrose EV truck has an 800V high-voltage fast-charging platform and can replenish 400km of range in under 36 minutes. Further, Windrose has completed high-temperature, high-altitude and low-temperature testing. Working with customers and partners including Rokin Logistics, Kerry Logistics, BorgWarner, TUV SUD, Windrose has initiated deployment in China, with Europe, the United States, and Australia to follow.
The first installation of one of the world’s fastest mega-watt level chargers at Goodman’s Citylink property near Beijing, China will be operational in the second quarter of 2024.
FinSMEs
11/04/2024