XL Fleet Corp (NYSE: XL) is excited to sign a new deal with eNow, Inc. The company happens to be one of the top performers in vehicle electrification solutions for municipal and commercial fleets. According to analysts, a battery and power electronics development and supply agreement positions the company on the path to ramp up activities and achieve significant revenues.
The company considers eNow the ideal partner
The company describes eNow, Inc as a leading solar and battery power system provider that remains crucial for the Class 8 commercial trailers. The terms and conditions of the deal are such that XL Fleet will focus on the supply of battery and power electronics systems. It is set to commence with the first 1,000 units of eNow’s most recent electrified refrigerated trailer solutions.
Analysts applaud eNow for the remarkable role it continues to play in pioneering the development of mobile solar battery charging systems. The company seems more focused on the commercial fleet market, and it has been serving the segment since 2011. Its solar systems are patented, and it is rather interesting how they successfully and efficiently capture the sun’s energy with roof-mounted solar modules. The energy storage happens in the auxiliary batteries, which happen to be somewhat helpful in the powering of the in-cab HVAC, lift gates, telematics, refrigeration, and other loads such as appliances and lighting. eNow seems to be doing quite well in positioning itself in a favorable pre-market position that makes it possible for the company to focus on delivering emission-free eTRUs for commercial trailers in the U.S.
Flath’s perspective
The President & CEO at eNow Jeff Flath opines, “This partnership will change the way the transportation industry thinks about energy and refrigerated transportation, as together we will offer the most advanced renewable power systems for reefer trailers, coupled with charging infrastructure, to eliminate a major source of diesel fuel consumption and emissions for fleets.”