Range Energy Announces $23.5 Million in New Financing to Accelerate On-Road Decarbonization with Electric Powered Commercial Trailers
Range Energy (Range), the hardware company bringing powered trailers to the commercial trucking market, today announced $23.5 million in new funding led by Phillip Sarofim’s Trousdale Ventures , with participation from UP.Partners , R7 , and Yamaha Motor Ventures .
- Range Energy (Range), the hardware company bringing powered trailers to the commercial trucking market, today announced $23.5 million in new funding led by Phillip Sarofim’s Trousdale Ventures , with participation from UP.Partners , R7 , and Yamaha Motor Ventures .
- Range will use this fresh capital to accelerate its work on customer pilot programs in parallel with advancing towards full-scale production of its electric powered trailers, which are essential to the decarbonization of commercial fleets under pressure to meet emerging emissions reduction targets.
- Today’s additional financing brings Range’s total funding to $31.5M inclusive of the company’s $8M seed financing .
- View the full release here: https://www.businesswire.com/news/home/20240228744525/en/
Range Energy's electric powered commercial trailer (Photo: Business Wire)
“Commercial-led innovation is material for achieving the electrification of on-road transportation.