Range Energy, a hardware company bringing powered trailers to the commercial trucking market, has received $8 million in seed capital from UP Partners, R7 and Yamaha Motor Ventures. The company recently completed its software and hardware interface validation prototypes further accelerating the electrification of industrial transportation.
Range’s powered trailers decrease greenhouse gas emissions by 40%, reduce fuel costs for fleet owners, and are designed to eliminate operational disruptions borne from the transition to electric vehicles. To meet both immediate decarbonization needs as well as long-term fleet transformation ambitions, Range’s powered trailers are compatible with today’s diesel tow vehicles and tomorrow’s all-electric tractors.
“Range was founded on the vision that cleaner, safer and more efficient towing is attainable today. Our powered trailers seamlessly meet fleet owners’ short- and long-term decarbonization goals by easing the transition to electrification while simultaneously mitigating the risks of economic penalties associated with emerging mandates,” says Ali Javidan, CEO and founder of Range Energy. “Given our team’s extensive battery and powertrain experience, we are uniquely positioned to successfully bring powered trailers to market quickly and efficiently. We’re excited to be a first mover in this market and most significantly, to accelerate commercial transportation’s trajectory towards its zero emissions goals.”
“Regulators are moving faster than the electric truck market, creating both great opportunity and urgency. Couple that momentum with rising fuel prices – solutions are needed now to enhance vehicle efficiency and ensure fleet operators meet zero emissions commitments with little to no operational disruptions,” states Adam Grosser, chairman and managing partner at UP Partners. “Range is meeting this moment with the unique experience required to design, test, deliver, and scale rapidly to provide fleet owners a practical, sustainable solution today that removes the need to re-architect the way they do business. At UP Partners, we seek out early-stage companies that will transform the moving world by moving people and goods cleaner, faster, safer, and at lower cost.”
The Range team is leveraging mature component technology and control systems in an electric heavy duty trailer that can immediately hook up to any tow vehicle and meaningfully improve efficiency. With Range, fleet owners see up to a 40% improvement in fuel efficiency depending on drive cycle.