Windrose, An Eco-friendly Truck Startup, Raises $110 Million

Windrose, An Eco-friendly Truck Startup, Raises $110 Million

Developer of electric heavy-duty trucks Windrose Technologies said that its Series B investment round had garnered $100 million.

Established in 2022, Windrose Technology creates intelligent, zero-emission long-haul vehicles with a focus on China, the U.S., and Europe. With a full load of 49 tons, the company’s first electric long-haul truck can go 670 km before needing to be refueled. Its 800V high-voltage fast-charging platform can do this in less than 36 minutes.

The funding coincides with a global push by governments to reduce carbon emissions from road transportation. In Europe, new regulations have been introduced that mandate a 45% reduction in emissions from heavy-duty vehicles by 2030 and a 90% reduction by 2040. In the United States, the EPA has also recently released standards for heavy-duty vehicle emissions reduction that call for a substantial transition to electric vehicles over the next few years.

According to Windrose, the money raised from the funding will go toward building a new production and supply chain hub, installing fast-charging infrastructure, and expediting the testing and international rollout of the company’s electric long-haul trucks.

In addition to leaders from international brands and logistics firms, investors in the Series B fundraising round included HSBC, HITE Hedge Asset Management, industrial real estate and digital infrastructure expert Goodman Group, and others. Bank debt, primarily from HSBC through its HSBC New Economy Fund, which was intended to finance start-ups and tech-driven enterprises, was a component of the funding.