Janus drives into Africa with $5m EVUNI tie-up

Janus Electric Holdings has found a new growth lane, signing a memorandum of understanding with Singapore-based EVUNI that could see up to 250 Australian-designed electric truck conversion kits deployed across Africa each year. The deal also comes with a sweetener: a potential five million dollar equity injection into Janus at twenty cents a share.

For a company that has spent years perfecting its battery swap and drivetrain conversion model on home soil, the agreement represents a meaningful leap beyond the domestic market. As Janus chief executive Ian Campbell put it, “This partnership with EVUNI represents a major milestone in our international validation… By combining our technology with EVUNI’s regional expertise, we are well positioned to deliver sustainable, scalable electrification solutions for Africa’s heavy transport sector.”

The investment component is structured in two tranches. The first, worth three and a half million dollars, kicks in once a binding distribution and licence agreement is executed. The second, a further one and a half million, will be unlocked upon the delivery of Janus conversion modules to Africa. The structure means shareholders will be watching closely for concrete progress rather than lofty promises.

EVUNI is no lightweight in the region. Backed by venture firm Pronexus, the group has already committed twelve million US dollars to electrification projects, including a minerals logistics corridor linking the manganese-rich Kalahari to the port of Ngqura. Its model is built around “electro modular trucks” and battery-as-a-service refuelling, powered by what it calls zero carbon baseload energy. As EVUNI chief Hans de Villiers put it, “Janus Electric’s technology is transformative for the heavy-duty transportation industry. With electro refuelling in under five minutes… it will transform the transportation industry within sub Saharan Africa.”

For Janus, the numbers look promising. Allocating 250 modules a year for five years would equate to 1250 conversions, with scope for an extension if the initial contract runs smoothly. The work will not only bring in direct revenue but also plant the seeds of recurring income from battery and energy-as-a-service subscriptions, a model that underpins the company’s longer term strategy.

Of course, an MOU is only a halfway house. The real test will be the binding agreements, which management expects to finalise by September. Once signed, the initial investment cheque should arrive, and engineering work will begin to adapt Janus’ systems to local conditions. That could mean tweaks for climate, road networks, and regulatory compliance, as well as training a local workforce to handle the roll-out.

The African focus adds an interesting dimension to Janus’ story. Most Australian cleantech hopefuls look first to North America or Europe for expansion, where subsidy regimes and ESG mandates help ease the path. Africa presents a more complex landscape, but one with vast transport and mining fleets ripe for modernisation. If the model works in corridors like the manganese belt, it could serve as a template for broader deployment across developing markets.

Back home, Janus is still in the early innings of commercialisation, with orders like the two-truck deal from US fleet group Ability Tri-Modal providing proof points. The EVUNI tie-up, by contrast, is a bold statement that the company sees itself as a player on the global stage.

Investors will now be weighing two things: the dilution from up to 25 million new shares issued at twenty cents, and the growth potential that five million dollars of fresh capital and a foothold in Africa might unlock. If Janus can deliver trucks on the ground and revenue in the books, the trade-off could prove worthwhile.

For now, the announcement has certainly shifted gears in the Janus narrative. What was once a domestic engineering project is now shaping into a global expansion play. Whether the road ahead is smooth or filled with potholes will depend on execution, but Janus has at least secured a ticket to the ride.