Range Energy and Thermo King Collaborate to Advance the Commercial Adoption of Electric Refrigerated Trailers
- None.
- None.
Insights
The strategic collaboration between Range Energy and Thermo King represents a significant step in the electrification of the commercial trucking industry. The integration of Range's electric-powered trailer platform with Thermo King's refrigeration units is a response to the increasing demand for sustainable transport solutions. This partnership could potentially disrupt the traditional trucking market by offering a cleaner and more efficient alternative.
From a market perspective, the adoption of electric refrigerated trailers could lead to a reduction in operational costs for fleet owners due to lower fuel consumption and maintenance expenses. Additionally, the collaboration aligns with global trends towards reducing carbon emissions, which may increase the companies' competitive advantage as regulations become stricter.
However, the success of this venture will depend on the outcome of the operational tests and the ability to meet manufacturing and commercialization goals. If successful, there may be a positive impact on the stock prices of both companies, as investors often reward innovation and growth in emerging markets.
The joint effort by Range and Thermo King is a proactive measure towards meeting emissions reduction goals and mandates that are becoming increasingly prevalent in the transportation sector. The integration of electric trailer technology with Thermo King's refrigeration units is poised to set a new industry standard in terms of environmental performance.
For policymakers and environmental stakeholders, this collaboration is a tangible example of how private sector innovation can contribute to public environmental goals. The focus on interoperability and architectural definition suggests that the companies are looking to create scalable solutions that could be adopted widely across the industry.
One potential drawback is the need for infrastructure to support electric trailers, such as charging stations. This requirement could pose challenges in terms of investment and implementation, especially in regions where such infrastructure is lacking. Nonetheless, if the collaboration can navigate these hurdles, it may significantly contribute to the decarbonization of the freight industry.
The collaboration between Range and Thermo King is expected to have direct implications for supply chain management, particularly in the cold chain logistics sector. The integration of electric trailers with refrigeration capabilities addresses a critical need for more sustainable and cost-effective transport of perishable goods.
Electric refrigerated trailers can potentially provide better temperature control and reduce the risk of spoilage, which is a major concern in the transport of food and pharmaceuticals. The operational testing and customer pilots scheduled for Q3 2024 will be important in determining the reliability and efficiency of these electric refrigerated trailers in real-world scenarios.
It will also be important to evaluate how the adoption of electric TRUs will affect the overall supply chain, from assembly and manufacturing to sales and servicing support. The success of this technology could lead to broader adoption and set new standards in supply chain sustainability.
The companies will jointly evaluate the integration of Range’s electric-powered trailer platform with Thermo King’s trailer refrigeration units
Range Energy and Thermo King Collaborate to Advance the Commercial Adoption of Electric Refrigerated Trailers (Photo: Business Wire)
With a shared pursuit to make commercial trucking cleaner, safer, and more efficient, this collaboration enables the companies to align on a preferred electric trailer technology architecture, including integrating Range’s electric trailer platform with Thermo King's hybrid trailer refrigeration units (TRUs) and electric TRUs. The integration process will also include extensive testing, customer pilots, and the public demonstration of an electric TRU.
“Accelerating the commercial adoption of electric trailers is essential to helping fleet owners and operators meet emerging emissions reduction goals and mandates. Working with Thermo King to advance electric refrigerated trailers marks significant progress in the electrification of commercial trucking, providing a near-term and pragmatic solution for fleets of today and tomorrow,” said Ali Javidan, CEO and founder, Range.
Through this collaboration, Range and Thermo King will focus on driving innovation across key areas:
- Architectural definition and interoperability: Aligning on the technical architecture for electric refrigerated trailers, information exchange, model energy usage, charging options, and evaluating single- and multi-temperature Thermo King TRUs.
- Operations testing: Identifying pilot customers to utilize electric TRU trailers in live operations, as well as developing and executing on an Operations Test Plan in Q3 2024.
- Manufacturing and commercialization: Evaluating assembly requirements, manufacturing capabilities, supplier introductions, and sales and servicing support; engaging third-party standards-making organizations; and collaborating on regulatory outcomes (e.g., weight allowances, emissions standards, charging support, etc.) and government incentives to streamline commercial adoption of electric TRUs.
“Thermo King’s commitment to sustainability and decarbonization is only matched by our drive to provide customers with the solutions they need. With that comes integrating innovative technologies, like Range’s electric trailer platform, that can help us deliver more efficient and reliable transportation solutions while keeping transported food and perishables safe and fresh,” said Paul Kroes, senior trailer product manager, Thermo King. “Range is an early mover in trailer electrification, and we’re confident our partnership can accelerate our industry’s decarbonization efforts.”
About Range Energy
Range Energy (Range) accelerates the electrification of commercial transportation via powered trailers for the heavy duty truck market. With a solution that can easily hook up to any tow vehicle, Range’s powered trailers offer offroad mobile power, and can rapidly ease the transition to electrification and meet its commercial partners' immediate needs and long-term ambitions. Range was founded in 2021 and is led by a team with deep EV industry expertise from Tesla, Zoox, Honda, and more. The company is backed by leading investors including Trousdale Ventures, UP Partners, R7, Yamaha Motor Ventures, and more. For more information, visit: https://range.energy/.
About Thermo King
Thermo King – by Trane Technologies (NYSE: TT), a global climate innovator – is a worldwide leader in sustainable transport climate control solutions. Thermo King has been providing transport temperature control solutions for a variety of applications, including trailers, truck bodies, buses, air, shipboard containers and railway cars since 1938. For more information, visit www.thermoking.com or www.europe.thermoking.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240409874013/en/
Range Energy Media Contact:
Kate Gundry
range@pluckpr.com
617-797-5174
Thermo King Media Contact:
Jeremy Ertl
jertl@broadheadco.com
612-623-8000
Source: Range Energy
FAQ
What companies announced a strategic collaboration to advance the commercialization of electric refrigerated trailers?
What is the ticker symbol for Trane Technologies?
What is the focus of the collaboration between Range Energy and Thermo King?
What key areas will Range and Thermo King focus on during the collaboration?
Who is the CEO and founder of Range Energy?
