Windrose Technology, an emerging electric heavy-duty truck developer, recently concluded its Series B financing round, securing a significant $110 million in investments. Key backers include major institutions such as HSBC and HITE Hedge Asset Management, alongside prominent industrial figures from global brands and logistics sectors. This funding marks a pivotal step in Windrose’s expansion and operational goals aimed at revolutionizing the logistics industry with zero-emission solutions.
Key Highlights:
- Total Series B funding reached $110 million
- Investments from HSBC, HITE Hedge Asset Management, and Goodman Group
- Funding earmarked for global testing and deployment of electric trucks
- Plans to establish a new supply chain center and production facilities
- Installation of a mega-watt level fast charger in Beijing slated for Q2 2024
Windrose Technology is at the forefront of creating innovative, zero-emission long-haul trucks designed for efficient and eco-friendly logistics. The company’s flagship electric truck boasts a range of 670km per full charge and features an 800V high-voltage fast-charging system capable of recharging 400km of range in just 36 minutes. These advancements are complemented by rigorous performance testing under various environmental conditions.
“Our vision is to bring zero-emission long-haul trucks to major global markets,” stated Wen Han, Windrose’s Founder and CEO. “Supported by world-class investors and partners, we are well on our way to achieving this ambitious goal.”
Among the supporters, HITE Hedge Asset Management views Windrose as a trailblazer in the electrification of commercial fleets. “Windrose is pioneering the way forward for the commercial trucking industry,” commented David A. Levine, Portfolio Manager at HITE Hedge.
Similarly, Kristoffer Harvey of the Goodman Group emphasized the strategic installation of new charging infrastructure as a step towards sustainable logistics: “We’re supporting Windrose’s battery electric autonomous-ready heavy-duty truck solutions.”
HSBC’s involvement through its HSBC New Economy Fund highlights a broader trend of financial backing for innovative tech-led enterprises. “Electric vehicle companies are reshaping transportation and logistics, reducing emissions and optimizing energy efficiency,” noted Ray Liang from HSBC.
About Windrose Technology:
Based out of Stanford University’s innovative ecosystem, Windrose Technology aims to lead the charge in zero-emission and intelligent long-haul trucking solutions. With a team boasting over 100 R&D professionals and more than 200 patents, Windrose is geared towards a sustainable transformation of road freight across various international markets.
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