Constructing a unified lithium-ion battery ecosystem to switch diesel and lead-acid methods throughout forklifts, transport refrigeration, and backup energy
South African-founded lithium-ion green-tech firm maxwell+spark has efficiently closed a $15 million (R250 million) Collection B funding spherical, led by Klima, Alantra’s Power Transition Fund, with Chevron Expertise Ventures (CTV) and Idemitsu becoming a member of as new buyers.
This strategic funding will speed up maxwell+spark’s mission to electrify industrial logistics by a unified battery ecosystem that replaces diesel engines and lead-acid methods throughout forklifts, refrigerated transport, and backup energy. The corporate’s modular, round, and data-driven lithium-ion methods are backed by eight years of real-world efficiency knowledge from hundreds of deployed models, serving to operators optimise price, efficiency, and emissions discount.
World buyers again maxwell+spark’s clean-tech progress
Clinton Bemont, CEO of maxwell+spark, stated: “Closing this Collection B spherical marks a defining step for us. The backing of worldwide vitality leaders — Chevron Expertise Ventures, Idemitsu and Klima — validates each our mission and our execution. Industrial logistics is among the many hardest, most cost-driven sectors to decarbonise. This funding accelerates our dependable, clever and cost-effective vitality methods our prospects depend on day-after-day.”
Bastien Gambini, Managing Director of Klima, Alantra’s Power Transition Fund, added: “We’re delighted to welcome Chevron Expertise Ventures (U.S.) and Idemitsu (Japan) as strategic buyers in maxwell+spark. Their participation underscores the corporate’s technological power and international potential. Following Klima’s preliminary backing in September, this second closing broadens maxwell+spark’s worldwide attain and accelerates its mission to decarbonise energy-intensive industries by superior electrification.”
Jim Gable, President of Expertise Ventures at Chevron, commented: “maxwell+spark’s modular lithium-ion battery methods present a safer and lower-cost path to affect industrial transport. That is the newest funding from our Future Power Fund, which focuses on industrial decarbonisation, rising mobility, vitality decentralisation, and the round economic system. We welcome m+s to the portfolio.”
David Evans, Managing Director of Fairtree Elevant Ventures, one among maxwell+spark’s earliest backers, stated: “maxwell+spark is driving a revolution in industrial vitality options with an distinctive staff and expertise, and a enterprise that has constructed super momentum on a worldwide scale. At Fairtree Elevant Ventures, it has been a privilege to assist the corporate’s progress from its early days.”
South African innovation powering international change
Based in 2017 in Durban, South Africa, maxwell+spark continues to function manufacturing and engineering services domestically, creating jobs and supporting abilities growth. “This firm was born in Durban, and it’s extremely significant to see South African-developed expertise making a worldwide affect,” stated Bemont. “We’re fixing actual issues — from decreasing chilly chain emissions to serving to logistics operators reduce gasoline prices — and this funding helps us scale that affect even additional. We’re proud to maintain a part of our manufacturing and innovation anchored in South Africa, the place all of it started.”
The Durban facility stays the corporate’s largest manufacturing hub and actively helps youth employment by participation within the Yes4Youth programme.
Confirmed innovation and trade management
Lengthy earlier than battery-electric refrigeration grew to become a worldwide development, maxwell+spark pioneered the world’s first battery-powered transport refrigeration system — designed, constructed, and examined on South African roads. The primary fridge.li prototype entered industrial service with SPAR in 2018, and continues to function at full capability at present.
This breakthrough demonstrated that clear, quiet, and dependable cooling may stand up to the rigours of African logistics whereas reducing working prices and emissions — proving that sustainability can even drive profitability.
On the identical time, the corporate’s motive.li lithium-ion methods reworked the supplies dealing with sector by serving to warehouses and distribution centres change from lead-acid to environment friendly, maintenance-free electrical fleets. Operating commercially in South Africa since 2018, these methods have improved uptime, diminished vitality consumption, and made warehouse operations cleaner, safer, and extra productive.
With operations now spanning South Africa, america, and the European Union, maxwell+spark is demonstrating that clear, clever battery options can ship efficiency, price financial savings, and resilience at scale.
