MOUNTAIN VIEW, Calif. — Electric-powered trailers could help pave the way to the decarbonization of trucking, according to Range Energy. The hardware company, which is working to bring powered trailers to the commercial trucking market, announced Feb. 28 that it has received $23.5 million in new funding led Trousdale Ventures, with participation by UP.Partners, R7 and Yamaha Motor Ventures. This additional financing brings Range’s total funding to $31.5 million, inclusive of the company’s $8 million seed financing.
According to a company statement, Range will apply the capital to customer pilot programs while, at the same time, working toward full-scale production of electric-powered trailers. Additional resources will be invested in the development of Range’s new trailer data and telematics platform.
“Commercial-led innovation is material for achieving the electrification of on-road transportation,” said Ali Javidan, CEO and founder of Range Energy. “To date, consumer EVs (electric vehicles) have captured the attention of early adopters and are making inroads towards mass adoption, yet factors such as charging infrastructure, grid instability, and cost have all contributed to slower-than-hoped adoption rates.”
Range’s Feb. 28 statement notes that fleet owners and operators are under “immense pressure” to decarbonize, adding that electric tractors are still years away from widespread use because of costs, charging infrastructure and reliability issues.
“Commercial transport is one of the most complex sectors to decarbonize and owners and operators need smart solutions to solve for emissions reductions targets in the near-term,” said Hinrich J. Woebcken, general partner at Trousdale Ventures and former president and CEO of Volkswagen Group of America. “Specifically, trucking fleets need to feel confident the investments made in new technologies are futureproof and fit into their plans for the makeup of their fleets for years — and decades — to come.”
Range offers what it describes as a practical solution — the electric-powered trailer. According to Range, the trailers are cost-effective and can be implemented in fleets with no operational disruptions. Third-party preliminary testing conducted in 2023 by Mesilla Valley Transportation Solutions (MVTS) showed that using Range trailers could enable up to 36.9% fuel efficiency gains (+3.25 mpg) for semi-trucks. Testing was conducted on a 25.5-mile urban/highway loop at approximately 59,000 pounds GVW and a top speed of 60 mph across multiple scenarios, including stop-and-go and steady-speed portions.
In addition, Range claims that its powered trailers can double the range of electric semi-trucks, proving the technology’s ability to meet both near- and long-term electrification ambitions. Since the company’s inception, it has developed and debuted a powered 53-foot dry van, the first trailer electrification platform eligible for California’s Clear Off-Road Equipment (CORE) voucher incentives. In addition, Range has launched a dealer advisory council with commercial OEM dealers.
“Range is at the forefront of broad electric equipment adoption and the overall electrification of on-road transportation. We believe in the company’s mission to make towing cleaner, safer, and more efficient and are excited to have skin in the game,” Woebcken said.
“Range is poised to ensure commercial fleets are able to adopt and transition to electric with speed and ease and our investors are committed to helping get our trailers into the hands of commercial fleet owners — and on the roads — quickly,” Javidan said.
Linda Garner-Bunch has been in publishing for more than 30 years. You name it, Linda has written about it. She has served as an editor for a group of national do-it-yourself publications and has coordinated the real estate section of Arkansas’ only statewide newspaper, in addition to working on a variety of niche publications ranging from bridal magazines to high-school sports previews and everything in between. She is also an experienced photographer and copy editor who enjoys telling the stories of the “Knights of the Highway,” as she calls our nation’s truck drivers.
