This investment aims to accelerate the deployment of Sunswap’s zero-emission transport refrigeration technology across the UK and Europe. Sunswap’s innovative solution, which combines solar and battery technology, is designed for use on the trailer units of articulated lorries transporting chilled goods across European roads, offering a low-carbon alternative to traditional diesel-powered refrigeration.

The £17.3 million raised from BGF, Shell Ventures, Dutch venture capital firm Move Energy, and existing investors Barclays and Clean Growth Fund, will drive further development and production of Sunswap’s zero-emission Transport Refrigeration Units (TRUs).

Sunswap’s flagship product, the “Endurance” TRU, is a fully electric solution that eliminates tailpipe carbon emissions while providing a cost-effective alternative to conventional diesel units. By integrating advanced battery technology, solar power, and rapid charging capabilities, the Endurance unit allows fleet operators to transition to zero-emission refrigeration seamlessly.

The Endurance TRU features solar panels mounted on the trailer roof and a cloud-based telematics system, enabling operators to monitor and control the units remotely. This setup not only delivers high performance but also results in significant operational savings.

Sunswap’s technology has been rigorously tested in commercial trials with major industry players such as Tesco and Muller. These trials have demonstrated the technology’s superior performance and lower total cost of ownership compared to traditional diesel units.

The company’s customer base is expanding, with notable clients including equipment services provider TIP Group, logistics giant DFDS, and leading UK operators. The newly acquired funding will be utilised to scale up production to meet increasing customer demand, expand Sunswap’s nationwide service network, and further advance its technological offerings. The business is positioned to seize significant market opportunities in the UK and Europe for cleaner, more sustainable transport solutions.

Michael Lowe, Co-Founder and CEO of Sunswap, stated: "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, an investor at BGF, commented: "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."

Stephen Price, Investment Director at Clean Growth Fund, added: "We are delighted to provide further investment to Sunswap as part of this round. The Company has made outstanding technical and commercial progress since we first invested back in March 2022 and is the leading innovator in transport refrigeration. With this further investment Sunswap is poised to accelerate the decarbonisation of cold chain logistics and rapidly transition the industry away from highly polluting legacy technology."

James Ferrier, Director of Principal Investments at Barclays Sustainable Impact Capital, remarked: "Sunswap’s latest acceleration towards a fully electric, zero-emission alternative to diesel-powered Transport Refrigeration Units demonstrates a step forward in the logistics industry. As an industry that generates annual revenues of £1.3 trillion and contributes £185 billion to the UK’s economy*, it makes both financial and environmental sense that we adopt clean tech to support its growth. Marking Barclays’ continued support for Sunswap, we are proud to help scale technology essential to decarbonisation."