Quantron launches funding round to hit the North American market
Quantron wants to become increasingly globally oriented. It now launched a B-financing round and is turning to US and Canadian investors. The company seeks an equity investment of 200 to 250 million euros and growth financing of 100 million euros.
Quantron aims to electrify road freight transport with a platform strategy utilising fuel cell trucks and the entire ecosystem around them. According to its own information, the Augsburg-based company has registered strong interest from strategic investors and financiers from the energy sector. Quantron does not specify when the B financing round will be completed.
Interestingly, the last round was not too long ago: In September 2022, Quantron closed an A-financing round of up to 50 million euros. At the time, investors included the German machinery and equipment manufacturer Neuman & Esser and the Canadian fuel cell technology group Ballard Power Systems. Previously, there had already been seed rounds with a closing date in March 2021.
In the context of the B-round that is now to follow, the systems provider emphasises the major role that the USA and Canada are to play in the future business strategy. Quantron founded a subsidiary in the USA in October 2022, which focuses on hydrogen solutions for long-haul transport. This was followed in early May this year by the presentation of a US Class 8 H2 truck for the US market at the Advanced Clean Transportation Expo in Anaheim, California.
Quantron also announced that it launched the planned joint venture with Goldstone Technologies. Financial or shareholding details of the joint venture, called Roqit, are not known. However, Quantron states that it will focus on Canada and the USA, where it aims to build an AI-supported fleet and a zero-emission platform. It says that Roqit is a key pillar of Quantron’s North American QaaS capability. For North America, the ecosystem includes fleet management, insurance-as-a-service, hydrogen economy, greenhouse gas accounting (GHG quotas) and data insights components.
Quantron describes the expansion intentions as coherent with its goal to “become a global leader in H2 vehicles and offer an OEM-independent ecosystem”. FCEV vehicles are scheduled for delivery in early 2024 in both Europe and North America.
“Quantron has been building a strong ecosystem for Quantron-as-a-Service with our US Class 8 hydrogen fuel-cell truck and FirstElement Fuel hydrogen supply and distribution alliance,” said Michael Perschke, Global CEO of Quantron AG at the Occasion of Collision Conference in Toronto. “Together, Quantron is meeting the great demand for zero-emission solutions and specifically hydrogen fuel-cell electric semi-trucks in North America. Quantron’s FCEV approach provides more range, scalability, and support infrastructure. This need will just continue to grow with recent announcements of clean air standards for heavy-duty vehicles and clean zero-emission technologies. We are excited to be meeting these needs.”