The National Reconstruction Fund Corporation (NRFC) has invested $30.7 million in Applied Electric Vehicles (AEV), marking the Australian government fund’s first investment in its Transport priority area. The Melbourne-based manufacturer develops autonomous electric vehicles for industrial and logistics applications.
Highlights
- NRFC commits $30.7 million in equity funding to Applied Electric Vehicles, representing more than 50% of the company’s USD $40 million Series B round
- AEV’s Generation 6 Blanc Robots feature a cab-less, flat-chassis design enabling deployment across mining, logistics, and manufacturing sectors
- Proprietary digital control system combines software and electronics to meet global autonomous vehicle safety standards
- Investment supports Australian manufacturing, with electronic components and software produced domestically while Suzuki Motor Corporation supplies chassis
Funding Structure and Investors
NRFC’s $30.7 million contribution constitutes more than half of AEV’s USD $40 million Series B funding round. Additional investors in the current round include Barrenjoey and Japan Post Capital. Previous investors include Suzuki Motor Corporation and St Baker.
The capital will fund manufacturing, commercialization, and scaled deployment of AEV’s Blanc Robot autonomous vehicle fleet for industrial, logistics, and commercial applications.
Blanc Robot Technology and Applications
AEV’s Generation 6 Blanc Robots represent a purpose-built autonomous logistics vehicle class. The cab-less design and flat chassis configuration allow operators to adapt the platform for multiple use cases.
Current deployments include:
- Dust suppression operations for mining customers
- Inter-factory logistics for manufacturing facilities
- Last-mile delivery in industrial environments
The vehicles target operating conditions characterized as remote, hazardous, or difficult to access. AEV positions the technology as a solution to global driver shortages in environments that may be unsuitable for human operators.
Proprietary Control System
AEV’s digital control system integrates software and electronic components to enable full autonomous vehicle operation. The company states the system meets the highest global safety standards for autonomous deployment.
Under current manufacturing arrangements, Suzuki Motor Corporation provides the vehicle chassis. AEV manufactures and installs proprietary electronic components and software at its Australian facilities.
Company Background and Employment Impact
Founded in 2015, AEV currently employs 113 people. NRFC’s investment will support existing positions and create up to 25 new skilled trade, technical, and commercial roles in Melbourne.
NRFC CEO David Gall noted AEV’s proprietary control system enables autonomous vehicles to operate safely in remote and hazardous conditions. He cited the company’s product pipeline, commercial contracts, and industry partnerships as factors supporting scalable growth.
AEV CEO and Co-Founder Julian Broadbent stated the investment accelerates the company’s efforts to scale Blanc Robot deployment and autonomous mobility solutions globally.
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