Financing for operational growth can be hard to find. Nefco fills this gap with its Fast-track loan which has received strong interest among Nordic companies since the launch two years ago. Nefco’s Fast-track loan financing helped Elonroad to expand its automatic charging technology into new international markets after being proved in the Swedish market. Elonroad was one of the presenting companies at Sweden Sustaintech Venture Day in 2022.
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The Swedish deep-tech electric road company Elonroad develops road-based charging solutions for electric vehicles. The car will be charged via rails in the road while driving, or when parked without cords, a future solution for reducing CO2 from traffic. The Elonroad solution can speed up not just the electrification of transportation but also the construction of zero-emission roads. Nefco’s financing will help Elonroad to deliver the piloting track for a project in Europe, and scale up its business internationally, aiming to deploy its solutions mainly in Europe within the next couple of years.
“We will be able to take another important step in our internationalisation and scale up of
production as well as trying out a new business model with the loan provided by Nefco” comments Anna Wieslander, COO, Elonroad.
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Electric roads have the potential to answer the challenges faced in the electrification of logistics and urban transportation, and is an important part of reducing CO2.
“The tipping point for electric vehicles has passed. Now, it is a question of how to implement and keep operational times and payloads,” says Wieslander.
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Elonroad has successfully delivered their flagship project, Electrical Road Systems, in the city of Lund where the vehicles are charged while driving and leaving the road with more energy in the battery than before. With ongoing pilot projects in identified markets such as harbours, mines and distribution hubs Elonroad offers solutions to transport fleets to lower CO2 emissions in an efficient way.
Road transport is the second largest source of greenhouse gas emissions in Europe so accelerating the green transition in the transport sector is one of our key strategic priorities. We want to ensure that crucial environmental technologies are being deployed where they can have the biggest impact,” says Fredrik Larsson, Nefco’s Senior Investment
Adviser in Sweden.
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