New Energy Transport secures funding to accelerate electric road freight

An initial $5 million raise, led by cleantech investor Jekara Group, will put New Energy Transport’s first electric trucks on Australian roads before the end of 2026.

New Energy Transport (NET) has closed an initial $5 million equity raise to fast-track the electrification of Australian road freight. The round was backed by institutional investor Jekara Group, alongside leading family offices and high-net-worth investors, and facilitated by net-zero advisory firm Pollination.

The capital responds to a clear market signal: a surge in demand from some of Australia’s largest transport buyers for reliable, cost-effective, all-electric freight. It funds NET’s first major commercial operation, the Rapid Deployment Project which will put twenty electric prime movers and six mobile ultra-fast charging units to work on NSW freight corridors before the end of the year.

Backed by cleantech specialists

Jekara Group is a Sydney-based venture capital firm that backs clean energy companies from early stage through to Series A, with a portfolio spanning energy storage and solar technology. Founder and Managing Partner Kara Frederick said electric road freight has significant potential to lift productivity and put downward pressure on costs across the economy, adding that NET has “the right team, the right business model and the best technology solution” to deliver cheaper, faster and more resilient freight.

Pollination, which advised on the raise, said NET’s model cuts through the infrastructure and cost barriers that have slowed heavy-transport electrification. That confidence, together with strong government backing, positions the company well as it heads toward a Series A round.

From this raise to a national network

The funding accelerates NET’s broader vision: Australia’s largest planned heavy electric trucking depot at Wilton in NSW, recently named a project of national significance under the Federal Government’s Investor Front Door program, and a network of depots connecting Adelaide, Melbourne, Sydney, Canberra and Brisbane by 2031. Establishing commercial operations will give NET the performance data to inform that expansion, and the momentum to scale.

Non-diesel-based freight from Newcastle to Canberra

The RDP will enable heavy electric freight operations across the Sydney, Newcastle, Wollongong and Canberra corridors — among the most heavily trafficked freight routes in the country. By covering this network from day one, NET can demonstrate reliable, repeatable all-electric line-haul at commercial scale, rather than isolated pilot runs. These routes link the country’s largest port and population centres, making them an ideal proving ground for electric line-haul.

Proving the model on these corridors gives transport buyers the confidence to commit volume, and gives NET an operating dataset, utilisation, energy throughput and uptime, that underpins the business case for a far wider rollout.