Sunswap has received £3m of investment from Barclays and the Clean Growth Fund, enabling it to accelerate the development of a fully electric, zero-emission alternative to diesel-powered Transport Refrigeration Units (TRUs).
Sunswap’s next generation, zero-emission Endurance TRU combines solar panels (covering the trailer roof), battery storage technology and low environmental impact refrigerants with cloud-based remote monitoring.
It promises 79-93% global warming impact savings and total cost of ownership savings of between 20-50%, compared to diesel.
The technology is already being trialled by global logistics company DFDS to deliver frozen goods across the UK and is soon to start trials with other major European logistics companies.
Sunswap’s Endurance clean refrigeration platform analyses each client’s refrigeration needs, delivery schedules and routes. This ensures that the Endurance TRU operate in the most efficient and environmentally friendly way.
Michael Lowe, co-founder and CEO of Sunswap said: “The logistics industry in the UK and globally is in the process of transitioning to using fully zero-emission technology for their transport refrigeration requirements.
“At Sunswap, we already have a working, cost-effective solution that is currently being used on UK roads to accelerate this transition. We are proud to be working alongside investors whose ideals strongly align with Sunswap’s mission. This backing is hugely significant and will allow us to fulfil our goals in the years ahead.”
Sunswap is the first logistics business to secure investment from the Clean Growth Fund.
Stephen Price, investment director at the Clean Growth Fun, said: “Cold chain owners and operators are under increasing pressure to decarbonise their operations and mitigate the rapidly increasing cost of operating highly polluting, diesel-powered refrigeration units.
“Sunswap’s technology provides a compelling and cost-effective clean solution and given the scale of the market opportunity, the environmental benefits of their refrigeration units are significant. We are therefore incredibly excited about Sunswap’s prospects for future growth, and through our investment, support their journey to commercialisation.”