Revoy, a California-based startup developing a hybrid solution for heavy-duty trucks, has completed a $27 million funding round as it advances a detachable battery-powered module designed to provide electric assistance for diesel semi trucks. The company aims to improve fuel efficiency and reduce emissions without requiring fleets to replace their existing vehicles.
Hybrid Module Designed for Existing Semi Trucks
Unlike fully electric semi trucks that require large battery packs to achieve long driving ranges while hauling heavy loads, Revoy has developed a module containing a battery pack and electric motor that fits between a tractor and trailer. The system temporarily converts a conventional diesel truck into a hybrid vehicle.
Founded in 2020, Revoy says its current battery booster provides up to 200 miles of electric assist for an 80,000-pound truck. Rather than powering the truck entirely on electricity, the system is designed to reduce the workload on the diesel engine, helping improve fuel economy.
Electric Assistance and Battery Swapping
The automated module delivers additional power in coordination with the truck’s diesel engine as engine speed increases. It also features regenerative braking, allowing the battery to recover energy during deceleration.
Because regenerative braking alone cannot fully recharge the battery, Revoy plans to establish a network of battery-swapping “hubs” where drivers can exchange depleted modules for fully charged ones.
Emission Reduction Goals and Commercial Launch Plans
According to Revoy, the detachable module can reduce carbon emissions by as much as 85%. CEO Peter Reinhardt told Bloomberg that operating costs should remain comparable to those of conventional diesel-powered trucks, even when based on lower fuel prices from before the U.S. war with Iran.
The company also positions its technology as a way to extend the service life of existing diesel trucks as emissions regulations potentially become more stringent.
Revoy received approval from the National Highway Traffic Safety Administration (NHTSA) to operate its equipment on public roads in 2023 and launched a pilot program with Ryder the following year.
The startup plans to begin commercial operations later this year on a 200-mile route near Portland, Oregon, using modules assembled from Chinese components and operated by specially trained drivers.
Funding to Support Future Development
The newly completed funding round will help Revoy develop a lower-cost version of its hybrid module featuring a smaller battery while maintaining similar driving range between recharges.
Despite using existing diesel trucks, the system still requires specialized infrastructure to support battery swapping, potentially adding cost and operational complexity. The current version also relies on imported Chinese components at a time when the political climate in Washington is less favorable toward such imports.
The $27 million investment represents more than half of the approximately $41 million Revoy has raised to date, though the company still faces the expense of engineering a replacement using domestic production.
At the same time, fully electric semi trucks are expected to benefit from a California rebate program, a development that could challenge the business case for Revoy’s hybrid approach as the company prepares for its commercial rollout.
