A truck equipped with a Revoy plug-in device travels in Indio, California. (Ethan Noah Roy/Bloomberg)
key takeaways:
- Revoy raised $27 million in a Series A round to scale a detachable electric dolly that fits between truck tractors and trailers.
- Revoy said the Dolly can move an 80,000-pound truck more than 200 miles and cut emissions by up to 85%.
- Revoy plans to deploy four dollies near Portland later this year and expand to a second-generation model with dozens in operation by next year.
Robotics startup Revoy has created a device that will allow any truck to run on electricity throughout its journey.
The San Francisco-based company has created a detachable unit with an electric motor and battery that sits between the truck’s tractor and trailer. It has raised $27 million in Series A round to scale its operations.
On a full charge, Revoy’s electric dolly can move an 80,000-pound truck more than 200 miles. The company’s dream is to eventually create a network of roadside hubs where truck drivers can swap out a new piece of equipment. Revoy estimates the unit could reduce carbon emissions by 85%.
“Our technology allows you to compete with diesel on cost, which is not yet true for other electric trucks in the US,” said Peter Reinhardt, CEO of Revoy.
According to Reinhardt, who is also CEO of carbon-removal company Charm Industrial Inc., the cost to operate Revoy’s system would be equivalent to powering a truck with diesel, based on prices before the U.S. war with Iran. The average retail price of diesel in the US is about 40% higher than the pre-war level of about $3.80 per gallon.
The Revoy will extend the life of existing diesel cargo trucks, a different proposition from the fully electric heavy-duty trucks on sale from manufacturers including Tesla Inc. and Volvo AB. Despite higher diesel prices, sales of those vehicles in the US in the first half of this year were lower than the same period last year, according to BloombergNEF. Sales could increase in the second half, with Tesla reporting a pipeline of 1,200 orders in May, the researcher said in a June report, citing data from the California voucher program.
Revoy has created a detachable unit with an electric motor and battery that sits between the truck’s tractor and trailer. (Ethan Noah Roy/Bloomberg)
Revoy was founded in 2020 and received regulatory approval from the National Highway Traffic Safety Administration in 2023. The following year, it ran a successful yearlong technology pilot with freight company Ryder Systems Inc.
For its first commercial operations, the startup’s partners have purchased second-hand diesel trucks and Revoy is training its drivers to use electric dollies. Revoy will begin using four electric dollies later this year on a 200-mile drive near Portland, Ore., that the company assembled using Chinese components.
With the new funding, Revoy plans to assemble a less expensive second-generation electric dolly with a smaller battery that offers similar range. The company hopes to have dozens of dollies in operation by the end of next year. In total, Revoy has raised $41 million. The latest funding round was led by Standard Capital, with additional investors including Doerr Capital, Time Ventures, Y Combinator, and Leap Ventures.
Revoy’s technology is an application of robotics, said chief technology officer and founder Ian Rust, who previously worked at self-driving startup Cruise, which was acquired by General Motors Co. “Instead of removing the driver, we’re using robotics to switch the fuel source,” he said.
Peter Reinhardt, CEO of Revoy. (Manuel Orbegozo/Bloomberg)
Rust took inspiration from the field of collaborative robotics, which has given rise, among other inventions, to robotic exoskeletons that can help humans lift many times more weight than their biological muscles allow.
The electric hoist follows the same principle. When the driver presses the accelerator pedal, the diesel engine accelerates and propels the truck forward. At that moment, the dolly receives a signal to turn on the batteries and an electric motor, after which the diesel engine rapidly stops running. Similarly, when the driver applies the brakes, the electric dolly starts using the reversing electric motor to charge the battery.
Revoy is currently focused on the US, but Rust hopes the technology can eventually be implemented globally.
