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EACON Mining Technology Secures $55.22M in Funding to Propel Autonomous Haulage Solutions

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: EACON Mining Technology, Richen Capital

EACON Mining Technology, a frontrunner in autonomous haulage solutions (AHS), has successfully closed its C round of equity funding, securing an impressive sum of approximately $55.22 million. Spearheaded by Richen Capital, with significant contributions from Shenyin&Wanguo Capital Management and existing investors like ESTAR Capital, this investment brings EACON’s total financing for 2023 to around $62.13 million.

The substantial backing reflects investor confidence in EACON’s capabilities for large-scale deployment of its AHS product. EACON now has 304 autonomous trucks in operation, with a total of 4.2 million kilometers driven autonomously and an impeccable safety record upheld for over five years. Alongside autonomy, EACON has developed the EACON 136, a hybrid electric + Drive-by-wire platform. A vehicle manufacturer partner produced and delivered 225 autonomous trucks, EL100, equipped with this platform, achieving up to 30% in maximum fuel savings.

Looking forward, with an office established in Perth, Australia, EACON is poised to broaden its presence in additional overseas markets. The commitment remains strong to deliver to a safe, intelligent, and sustainable future for the global mining industry.

Read more at PR Newswire