The BRUDELI Powerhybrid transmission module provides truck owners fuel and range flexibility, and a decisive cost advantage compared to both all electric (BEV) and all diesel (ICE) powered trucks.
BRUDELI’s goal is to bring its patented electrified truck transmissions to the market, starting serial deliveries in 2026. The world leading development and industrialization team is located in Hokksund, Norway.
The major new investors in this capital round are LEAX Group AB, a renowned international vehicle component manufacturer, and DSD Investering AS, a Stavanger based family office and industrial investor.
The proceeds of the 10.6 MNOK capital increase will be used for further
development and testing of products, as well as business development in
cooperation with key customers towards the first electrified pilot truck.
- Representing world class engineering and manufacturing and financial excellence, the new investors provide a big step forward for BRUDELI. The greatly strengthened ownership structure is a key step towards growth, success with customers, and towards financing the complete product industrialization, says Lasse Bjørkhaug, CEO at BRUDELI.
Truck electrification – internationally and in Norway
Globally, long-haul trucking is mainly powered by diesel combustion as the energy carrier. In Europe, truck transportation represents 6% of the total energy used. To accelerate and optimize electrification, BRUDELI will work with truck fleet owners in Norway to simulate and specify the optimal electrification for each long-haul truck operation.
- There is a hugh potential for increasing the energy efficiency by simple and flexible solutions. The patented BRUDELI Powerhybrid will let the truck drive all electric in zero emission zones and reduce diesel consumption in total by 80%. We achieve this by using a 400 kWh battery pack, which is half the battery size of a fully electric long-haul truck. says Geir Brudeli, CTO at BRUDELI.
Use of proceeds
BRUDELI will continue to develop their products and secure patent positions for fully electric trucks as well as for hybrids with plug-in charging. The Powerhybrid will be product no. 1, and testing beyond Proof of Concept is continuing through 2022. Investor capital and a setup created in cooperation with Innovation Norway, will be used for developing the first pilot vehicle in close cooperation with truck manufacturers.
LEAX Group AB
LEAX is a recognized world class engineering and manufacturing group based out of Köping, Sweden. Since their inception in the early 1980’s, Leax have grown to 1200 employees in 6 countries and SEK 2 B in annual revenues. With a strong history of embracing innovation, LEAX have become a market leader in manufacturing of advanced transmission components.
- We are excited by the opportunity to invest in BRUDELI as we see a clear strategic fit with LEAX’s ambition to develop fully integrated systems with a high degree of innovation. There is also a strong cultural fit with the highly experienced and motivated BRUDELI team and we look forward to helping them develop their groundbreaking technology, says Tony Nicol, CEO of Leax.
DSD Investering AS
Once established as a shipping company in 1855, DSD has grown into a financial and industrial conglomerate across industries such as shipping, mobility, tourism, and health care.
- BRUDELI is a technology leading and innovative company that fits well into our strategy of investing in sustainable companies with growth potential. We believe our long history and significant insight within bus transportation and shipping is a good match with BRUDELI’s technology. This investment supports our long-term commitment for green mobility, and we look forward to following the next steps in BRUDELI’s development, says Kjartan Melberg, CIO of DSD.
New private investors
New private investors add vast automotive, industrial and growth competence; Hans Peter Havdal, former CEO of Kongsberg Automotive, now Division Manager at Semcon International providing engineering services worldwide; and Asle Tandberg, former CEO, leading Noratel to become one of Europe's leading manufacturers of high-quality transformers.
- Together with existing and new owners, we look forward to taking the next step for BRUDELI, says Bjørkhaug.
Further capital need
BRUDELI plan to raise further investor capital in 2023, to continue product development, complete the pilot vehicles and to further scale the organization, preparing for full industrialization and serial verification from 2024 and onwards.
Following the successful closure of serial production contracts, to finance for the industrialization and validation, a combination of investor capital and loans is planned.
About BRUDELI Green Mobility AS
BRUDELI Green Mobility was founded in 2019. The company is developing a product portfolio within hybrid and electric transmissions. The BRUDELI team now counts 14 persons and is based in Hokksund. Kongsberg Innovation is on the ownership side, and through the innovation company, BRUDELI is closely connected to the world leading technology cluster in Kongsberg. The development plan contains a first serial contract in 2023 with serial production starting in 2026. The company has received financial support from Innovation Norway, the Research Council of Norway, and Regional Research Funds Viken.