Funding boost for Sunswaps’ transport refrigeration solution

Earlier this year we reported on how one UK-based company is leading the charge in developing sustainable refrigeration by creating the first purpose-built fully-electric transport refrigeration unit.

That company, Sunswap have now announced they have secured £17.3 million through a funding round led by investment company, BGF, to accelerate the rollout of those units across the UK and Europe.

The investment by Shell Ventures, Dutch venture capital fund, Move Energy, and existing backers Barclays and Clean Growth Fund, will accelerate the further development and production of Sunswap’s zero-emission Transport Refrigeration Units (TRUs).

Sunswap’s combined solar and battery technology is fitted to the trailer units of articulated lorries carrying chilled consumer goods throughout the European road transport network, providing a low carbon alternative to diesel powered refrigeration.

As the company’s Ben Fielden explained: ‘While we’ve made significant strides in reducing emissions from the trucks themselves, with the adoption of cleaner Euro VI, many of these cleaner modern vehicles are still hauling around outdated, heavily polluting diesel-powered refrigeration units.’

The company’s Endurance TRU combines advanced battery technology, solar power and rapid charging to eliminate tailpipe emissions while providing a cost-effective alternative to traditional diesel units. 

With solar panels on the trailer roof and a cloud-based telematics system, Endurance allows operators to monitor and control units, delivering high performance and operational savings.

Michael Lowe, co-founder and CEO of Sunswap said: ‘We are thrilled to have BGF and Shell Ventures support in our mission to decarbonise cold chain logistics. Their investment, alongside the continued backing of our existing investors, is a real validation of Sunswap’s journey to date.

‘This funding will be instrumental in accelerating our growth and expanding our presence in the UK and European markets. It will enable us to ramp up production, support further customer trials, and invest in the development of our zero-emission technology. Together, we will work towards a cleaner, greener future for cold chain logistics, helping businesses meet their sustainability targets.’

Rowan Bird, investor at BGF, said: ‘As the logistics industry moves towards more sustainable practices, Sunswap’s TRU technology stands out as a leading solution for fleet operators seeking to reduce their carbon footprint and operational costs. BGF is excited to support Sunwap in continuing to develop its technology, expand manufacturing capabilities, and strengthen its portfolio as a leader in the field of climate tech. This is a groundbreaking business with significant near-term market potential, and we look forward to being part of the company’s growth journey.’