Truck Labs is now a portfolio of Conmet aiming manufacturing revolutionary technologies that made TruckWings.
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| ConMet's new acquisition focused on Carbon emissions technology TruckWings. Image: collected |
VANCOUVER, Washington:
ConMet company made an acquisition of technology brand TruckLabs and expressed hope of vehicle business expansion.
On Tuesday, the company announced this acquisition and said that the TruckLabs is a technology company focused on reducing carbon emissions and improving operational efficiencies for fleets.
ConMet authority stated that the acquisition is part of ConMet’s 60-plus year plan to designing, engineering, and manufacturing revolutionary technologies for heavy-duty commercial vehicles.
Previously, TruckLabs created the TruckWings, a truck-mounted aerodynamic device that automatically deploys at highway speeds to close the gap between the back of the cab and front of the trailer. TruckWings nicely reduces drag, advances stability, and increases fuel efficiency by 3%-6% — saving over 1,100 gallons of fuel and 15,000 pounds of carbon dioxide emissions for each diesel truck per year, or extending the range of electric and hydrogen vans.
This acquisition would bring impact for TruckWings in reducing emissions in the commercial vehicle industry and thrive continued 250% year-over-year growth of TruckWings
Together, the team will help OEMs and fleets save money, meet climate goals, and achieve compliance with greenhouse gas emissions standards.
“TruckLabs’ innovative solution TruckWings is an ideal addition to ConMet’s portfolio,” said John Waters, President of ConMet. “Their technology – which has been proven through 750 million logged highway miles — aligns well with our goal of providing OEMs and fleets with forward-thinking, profitable solutions to improve fuel efficiency with this strategic investment.”
TruckWings’ data shows the it has saved a total of 80 million pounds of carbon dioxide since the debut in 2015 as every mile is tracked to provide real-time reporting through it's telematics technology.
A TruckWings-equipped commercial vehicle is equivalent to removing two cars from the road. As the industry explores alternative fuels like electric and hydrogen, improved aerodynamics will address the range extension and weight reduction.
“ConMet is the perfect partner to introduce our product to a wider customer base, and adds much-needed scale to our manufacturing capabilities,” said Daniel Burrows, founder and CEO of TruckLabs. “We are excited to join with ConMet to boost our marketing efficiency on our customers’ fuel costs and climate goals.”
According to the acquisition deal, TruckLabs would become a wholly owned subsidiary of ConMet. The acquisition was completed in the first week of this month. Both companies will work closely in the coming months to confirm a cozy transition for workforce, customers, and partners as well.