Decade Energy, the French logistics electrification and energy management service provider, has raised €3.6 million in Seed funding to accelerate the decarbonisation of logistics fleets.
The company is founded by the founder of Volta Trucks and the team behind its Truck-as-a-Service solution, who since 2019 have helped major European logistics companies transition to electric fleets.
Accelerating the electrification of trucks is critical if Europe is to meet its target of 24 per cent reduction in emissions by 2030.
Road transport represents 22 per cent of CO2 emissions in Europe, of which trucks and vans stand for about half, roughly 10 per cent.
While significant progress has been made in electrifying buses, zero-emission (ZE) technologies still represent only 2 per cent of the European truck fleet.
Decade Energy provides logistics companies with holistic, reliable and cost-efficient solutions that enable the electrification of commercial electric vehicle fleets.
The necessary infrastructure to operate an electrified fleet is complex and fragmented. Logistics companies need to piece together and manage these systems themselves, resulting in costly installations, poor reliability, and inefficiencies.
Decade Energy simplifies the electrification process, by integrating and managing these systems for customers enhancing both operational and environmental efficiency for logistics providers. This approach makes electric vehicles cost-competitive with diesel and will save millions of tonnes of GHG emissions.
Casper Norden, CEO, explained:
“While OEMs have invested in EV supply chains, retailers are demanding zero-emission transportation, and logistics companies have set firm decarbonisation targets, we still see too few electric trucks on the road.
Our experience from Volta Trucks is that the complexity and fragmentation of the EV ecosystem make the transition unmanageable and electric vehicles uncompetitive.
By offering a solution that integrates best-in-class partners and technologies, Decade Energy allows logistics companies to focus on their core business and realize the cost advantage that electric fleets offer."
Ananda Impact Ventures and Contrarian Ventures led the round. According to Tomas Kemtys, Partner at Contrarian Ventures:
“Decade Energy addresses the large and rapidly growing market of distribution traffic electrification, which needs innovative solutions and technology providers like Decade Energy to meet our climate targets.
The team’s focus on and experience of servicing the segment that will be the first to be disrupted is one of many strengths that influenced our decision to partner with the company.”
The company is headquartered in Paris but has a pan-European network and presence to service its international customers. Its first three core markets are France, Germany, and Sweden.
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