Effenco, a heavy-duty vehicle electrification upstart based out of Montreal, Canada, has bagged CA$10 million ($7.5 million) in equity financing from investors including the Business Development Bank of Canada, the Center of Excellence in Energy Efficiency (C3E) fund, Investissement Québec, and individual investor David Arsenault, who is Effenco’s own President. The new capital will allow Effenco to pursue its international growth plans, which includes the opening of a new office in Norway to court European customers and the hiring of 25 new employees, mainly engineers, at its head office in Canada.

Effenco develops technology that lets heavy-duty trucks get electrified in order to reduce their greenhouse gas emissions. Effenco makes use of a system that lets operators of heavy-duty trucks reduce fuel consumption and also operational costs. The company, which was founded in 2006, says it recorded high sales in the past year across the US, Canadian, and European markets. Effenco makes use of direct sales as well as a distribution network that’s currently present in 10 countries.

 Effenco’s systems are currently in use by a number of companies in New York and California, as well as in Canada, France, and Norway. The company’s electrification systems can be spotted on a variety of heavy-duty vehicles including waste collection vehicles, delivery trucks, bucket trucks, and port terminal tractors. For example, the New York Department of Sanitation currently uses 12 heavy-duty trucks fitted by Effenco for electrification and has even ordered an additional 14 of such systems, an order that’s in line with New York City’s goal of reducing its greenhouse gas emissions by 80% by 2035

Effenco touts its goal of developing the “world’s most cost-efficient heavy vehicle electrification solutions” and will use the new capital to work towards that. 

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