XL Fleet Corp. announced a new agreement and investment in eNow Inc., a provider of solar and battery power systems that enable fully-electric Transport Refrigeration Units (eTRUs) for Class 8 commercial trailers. Under the terms of the agreement, XL Fleet will supply battery and power electronics systems for the first 1,000 units of eNow’s new electrified refrigerated trailer solutions.
XL Fleet and eNow say they are collaborating on the design and development of the system that will power eTRUs as a replacement for conventional diesel-powered systems. XL Fleet is developing the high-capacity integrated lithium-ion battery and power electronics technology that will be installed underfloor on the Class 8 trailer, providing approximately 12 hours or more of run time between charges.
eNow will integrate this system into its architecture, including solar panels mounted on the roof of the trailer to maintain the battery charge and extend operation. Currently available 480V 3 phase shore power will be used for charging of the batteries and powering of the eTRU when idle or during loading and unloading of the trailer. The system will be equipped with a thermal management system to enable year-round operation across North America.
XL Grid will support customers that require new charging or expanded charging infrastructure, or energy solutions. XL Fleet and eNow expect to deliver initial eTRUs beginning in the first half of 2022 to customers in industries including food, retail, manufacturing and distribution.
Concurrent with the agreement, XL Fleet invested $3 million in convertible notes in eNow. Additionally, XL Fleet has the right to acquire eNow at a pre-determined valuation.