Lunaz has announced its first upcycled industrial electric vehicle following the completion of a $200 million funding round.
This growth capital is funding the establishment of what Lunaz says is the UK’s largest remanufacturing and electrification facility adjacent to the company’s current HQ in Silverstone, taking the company’s total manufacturing footprint to 210,000 sq/ft.
The new HQ for Lunaz Applied Technologies (LAT) will be an engineering, design and production hub for the manufacture of upcycled electric vehicles (UEVs) for industrial applications.
Lunaz has also unveiled plans for its very first upcycled industrial electric vehicle (UEV), which it says will “address significant capacity deficits versus demand for the production of new EV industrial vehicles.”
The company will deliver a fully upcycled, re-engineered refuse truck built to a near zero-mile standard to Councils and Waste Management companies for broadly the same price as a new diesel equivalent and considerably less expensively than a new electric-powered refuse truck.
The vehicles will be remanufactured, re-engineered and electrified Mercedes-Benz Econic platform vehicles for uses including as refuse trucks, commercial hauliers and for specialist applications in off-highway settings including airports.
David Lorenz, founder of Lunaz, said: “We are proud to stand amongst some of the fastest growing companies in the UK. By upcycling and electrifying industrial vehicles at scale, millions of tonnes of embedded carbon is saved by dramatically extending the usable life of thousands of vehicles that would otherwise be scrapped. By applying this approach to public sector vehicles like refuse trucks we deliver a result that is better for the taxpayer and better for the planet.”
Frederic Wakeman, investor and board member at Lunaz, added: “In backing Lunaz I have invested in the proven potential of upcycling and electrification as an effective solution to the pressing question of how the world transitions sustainably to clean-air powertrains.
“Governments and companies need to urgently find ways to decarbonise their fleets. This approach dramatically saves money for the tax-payer and preserves millions of tonnes of embedded carbon for the planet. Lunaz has the technology, team and momentum to execute an ambitious global plan. I am proud to be part of one of the fastest growing companies in the UK.”