- 01JNS secures $11m CBA funding for production and North American deliveries.
- 02$1.91m R&D refund cuts Rockford debt to $987k.
- 03Interest savings expected: ~$325k yearly.
Janus Electric Holdings (ASX: JNS) has arranged $11 million in financing facilities with Commonwealth Bank of Australia (ASX: CBA) to support production capacity and deliveries against its North American electric truck order book.
The package comprises a $10m revolving trade finance facility for working capital and a $1m asset finance facility for equipment as the heavy vehicle electrification specialist moves towards larger-scale operations.
The agreement follows the application of a $1.91m research and development tax refund against an existing loan earlier this week, reducing Janus Electric’s debt and expected interest costs.
Together, the financing measures give the business additional capacity to fulfil customer orders while reducing the cost of an existing borrowing arrangement.
Funding for Truck Deliveries
The trade finance facility is intended to fund increased production and order fulfilment, particularly in North America, where Janus Electric has an order book covering 118 truck conversions.
The first US conversions are scheduled for delivery under the company’s existing timetable, subject to applicable conditions, as it prepares to service the order book.
The revolving facility is subject to CBA’s annual review, carries customary financial covenants and lending conditions, and is backed by the company’s assets.
“Securing these facilities with CBA is an important milestone as we move into the next phase of commercial growth,” managing director Ben Hutt said.
“They give us the capacity to deliver against our North American order book and to invest in the equipment needed to scale operations, strengthening our financial position as we transition to commercial scale.”
Tax Refund Reduces Borrowings
The separate R&D refund was received by lender Rockford RDF on 19 October and applied directly against Janus Electric’s outstanding loan rather than being retained as cash.
That payment cut the Rockford balance by approximately 66%, from about $2.9m at 30 September to $987,000, with expected interest savings of roughly $27,000 a month or $325,000 annualised.
Janus Electric has lodged an Advance Overseas Finding with the Australian Taxation Office for eligible offshore R&D activities undertaken during the 2026 financial year.
Any additional refund remains subject to approval and processing, with the proceeds earmarked for further repayment of the Rockford loan if received.
“This is a welcome outcome as we continue to strengthen our financial position and prepare for increased commercial activity in Australia and North America—reducing our financing costs is particularly important as we focus on delivering our growing order book,” Mr Hutt said.
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