Weirton, WV – August 12, 2026 – Form Energy, Inc., an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems, announced today a $750 million Series G financing round led by T. Rowe Price, which also led the company’s prior Series F round. This round brings Form Energy’s total […]

Superlight secures US$21m for middle-mile EV featuring fully digital powertrain. By Zahra Awan June 25, 2026 3 Mins Read Superlight has raised an oversubscribed US$21m series A round, co-led by Engine Ventures and 2150, that brings the company's total capital raised to US$33m. Superlight plans to use the proceeds to complete its UK manufacturing facility, support initial sales in the UK and EU, and develop homologated vehicles for customer testing and entry into the US market. Demand for middle-mile logistics, the movement of goods between regional distribution centers and local sorting facilities, is growing rapidly with the global market projected to reach US$137.97bn by 2026. Rising consumer expectations for overnight delivery are pushing distribution networks closer to urban areas, increasing the need for efficient freight transportation. As a result, maximizing cargo capacity, cost efficiency and delivery performance has become increasingly important. Despite this growth, innovation in the middle-mile segment has lagged behind other areas of commercial transportation - and Superlight is addressing this by developing an electric commercial vehicle specifically designed for middle-mile logistics. Its OV-1 vehicle features a modular, customizable platform built on a clean-sheet architecture, with a fully digital powertrain and aerospace-inspired engineering principles. According to the company, the vehicle delivers 50% more cargo capacity while using 50% less energy than comparable 7.5-metric ton trucks. Superlight also states that the OV-1 can reduce energy costs per pallet-kilometer by 73% and requires only one-tenth of the capital investment typically associated with conventional truck manufacturing. "By harnessing the inherent advantages of electric propulsion and software-centric manufacturing, we're flipping the economics of commercial EVs, unlocking massive cost savings that also happen to provide significant environmental benefits," said Noamaan Siddiqi, co-founder and CEO of Superlight. "Our purpose-built EV platform enables transformative performance and safety advantages that can't be duplicated by retrofitting electric into legacy trucks. And unlike many manufacturers, Superlight owns the entire chain of designing, building and delivering its EVs, which allows us to provide unique vehicle features to continually optimize for innovation and efficiency." Superlight has accumilated 500,000km of powertrain mileage, including with commercial pilots of OV-1 in the UK by major e-commerce and ground handling providers. Superlight's production system is designed to be digital-first and AI-native, built around two core capabilities. The first, SuperVisor, is a digital twin of the company's factory that uses real-time production data to monitor shop-floor operations, support continuous improvement, and identify potential quality issues before they occur. The second, Autonomous Logistics & Integrated Service, is a predictive maintenance and fleet management platform that uses data from sensors installed on OV-1 vehicles to optimize vehicle performance, improve maintenance planning and support more efficient driver operations. "Superlight is on a mission to modernize commercial trucks, a crucial component of modern society that has experienced surprisingly little innovation in nearly a century," said Israel Ruiz, president and general partner at Engine Ventures. "By replacing legacy manufacturing and driving mechanics with a new architecture, the company has an opportunity to deliver massive performance, safety, efficiency and cost improvements to brands, fleet owners and transportation companies, while at the same time wiping out particulate matter emissions."