Tire management technology provider Aperia Technologies has received a $45 million investment from Lime Rock New Energy, which Aperia stated in a press release will accelerate the development of its products and new customer delivery models.
“Aperia has earned a leadership position in the North American market thanks to great customer partnerships,” said Aperia CEO Josh Carter. “We’re thrilled to gain an operational- and impact-focused partner in Lime Rock New Energy to scale our reach into new markets and to advance our platform and value proposition to our customers.”
Aperia’s Halo Tire Management suite combines self-powered tire pressure automation hardware with a machine-learning analytics platform designed to deliver powerful operational, safety, and sustainability improvements to commercial trucking fleet owners, according to the release. The technology aims to improve the fuel economy of traditional diesel vehicles and extend the range of electric vehicles, which gained the attention of Lime Rock New Energy, which specializes in providing private equity growth capital to companies with a focus on sustainability.
“We partnered with Aperia because they offer a compelling value proposition to their customers and deliver a positive impact via multiple pathways,” said Lime Rock New Energy Director Blair Barlow. “LRNE is excited to support Josh and his team’s mission to accelerate the shift toward a more sustainable transportation sector by providing a tangible and immediate reduction in fuel usage and tire waste in the commercial trucking industry.”
With nearly one million tires under management in North America, the growth capital and partnership with Lime Rock New Energy will enable Aperia to bring its tire management solutions to commercial fleets worldwide, according to Aperia’s press release.