New Energy Transport raises A$5M to electrify Australian road freight
What's the deal? New Energy Transport (NET) has raised A$5M in early-stage venture capital to start replacing diesel trucks with electric prime movers on some of Australia's busiest freight corridors. The round was led by cleantech VC firm Jekara GroupDealroom has a profile for this one. Try Dealroom →, with participation from family offices and high-net-worth individuals.
The funding will finance NET's Rapid Deployment Project — 20 electric prime movers operating between Sydney, Newcastle, Wollongong, and Canberra before the end of 2026. Advisory firm Pollination facilitated the raise.
Why now? NET says it is responding to a sharp increase in demand from major transport buyers for sustainable, cost-effective logistics. The company is also deploying six mobile ultra-fast charging units that can be installed in weeks — a workaround for Australia's slow buildout of fixed charging infrastructure.
That mobile approach is central to the pitch. NET co-chief executive Daniel Bleakley said the units can be redeployed to open new corridors as the network grows, extending electric freight beyond metro areas into regional and agricultural hubs.
What could go wrong? Heavy transport electrification has stumbled before. Charging infrastructure remains the primary bottleneck, and while mobile chargers offer flexibility, they're a stopgap — not a permanent grid solution. Scaling from 20 trucks on NSW routes to a national network connecting Adelaide, Melbourne, Sydney, and Brisbane by 2031 is a massive leap that will require far more capital.
The commercial viability of all-electric line-haul transport at scale is still unproven in Australia, and NET will need strong performance data on energy throughput, vehicle uptime, and operational efficiency to unlock future investment.
The signal: This raise reflects growing momentum behind freight decarbonisation, a sector that has lagged behind passenger transport in the shift to electric. Jekara Group managing partner Kara Frederick said she has confidence in NET's ability to deliver cheaper, more resilient freight services — framing electrification not just as a climate play but as a cost advantage.
NET's planned hub at Wilton, NSW, has already been recognised as a project of national significance. If the Rapid Deployment Project delivers results, it could provide the commercial blueprint that tips Australia's logistics industry toward a broader transition away from diesel.
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