Sunswap continues to move forward with its zero-emission transport refrigeration unit (TRU) technology.
The UK-based cleantech engineering firm says it recently secured £500,000 ($695,000) through crowdfunding that will be used to “rapidly scale the business” and help the company deploy its tech by the end of the year.
Sunswap secured £150,000 in April 2020 for its electric transport refrigeration technology, which utilizes energy prediction, adaptive battery capacity and solar power.
“The closing of this funding round marks an important stage in Sunswap’s journey, following a significant year of growth for the firm,” said Michael Lowe, Sunswap’s CEO. “We successfully built our first prototype, secured government funding and began the expansion of our team.”
The crowdfunding campaign, launched on Crowdcube in January, saw Sunswap raise the funds in only four days. They’ll be used to finalize the development of the latest generation of the company’s sustainable TRU ahead of deployment. To achieve this, Sunswap said it will grow its team and move into larger facilities that enable faster scale-up.
TRUs play a vital part in society, being used to transport essential supplies such as vaccines and chilled food, however many currently use diesel engines to keep products cold. Diesel-powered TRUs pollute the environment, are expensive to operate and will become even more costly in 2022 following the UK government’s ban on the use of cheap red diesel, increasing costs by 47p per liter of diesel, according to the company.
Following the funding round, Sunswap is in the final stages of confirming manufacturing partnerships that will enable it to become a key provider of zero-emission TRUs. Sunswap continues to build relationships within the industry, having already announced this year that it will work with social impact start-up OX to develop solar-powered mobile chilling capability for its zero-emission trucks in Rwanda.
“It is set to be another busy year for Sunswap,” Lowe said. “We are delighted to have a host of new investors on board and are putting in place the foundations that will allow us to scale rapidly as the demand for zero-emission TRUs significantly increases. Engaging industry remains a key focus, we are in discussion with major logistics operators and looking forward to working with these partners to get Sunswap’s TRU technology on the roads this year.”
