Powering the energy transition: Fairtree-backed maxwell+spark secures US$15 Million Series B Investment

This milestone marks a significant step forward in maxwell+spark’s mission to decarbonise industrial logistics through advanced electrification – a journey that Fairtree has supported from its early stages.

Founded in South Africa in 2017 and now headquartered in the Netherlands, maxwell+spark designs and manufactures modular, data-driven lithium-ion battery systems that replace traditional diesel and lead-acid power across forklifts, refrigerated transport, and backup energy solutions. The company’s technology connects isolated industrial machines into an integrated, low-carbon energy ecosystem, improving performance, reliability, and cost efficiency for operators worldwide.

“Fairtree’s early backing has played a pivotal role in maxwell+spark’s evolution from a South African start-up to a recognised global player in green industrial energy systems,” said Clinton Bemont, CEO of maxwell+spark. “We’re thrilled to have the continued support of Fairtree alongside new strategic investors who share our vision for electrified logistics.”

The Series B investment, led by Klima, brings in Chevron Technology Ventures and Idemitsu as new strategic partners, expanding maxwell+spark’s reach and reinforcing its role as a pioneer in electrifying energy-intensive industries.

For Fairtree, the success of maxwell+spark reflects our ongoing commitment to backing businesses that drive innovation, sustainability, and long-term value creation. Our private equity investments aim to partner with exceptional founders and management teams who are reshaping industries, both locally and globally.

As maxwell+spark accelerates its international expansion and product innovation, we are proud to continue supporting its mission to make industrial power cleaner, smarter, and more sustainable.

David Evans, Managing Director of Fairtree Elevant Ventures, commented:

“maxwell+spark is driving a revolution in industrial energy solutions with an exceptional team and technology, and a business that has built tremendous momentum on a global scale. At Fairtree Elevant Ventures, it has been a privilege to support the company’s growth from its early days.”

About maxwell+spark

maxwell+spark is a global leader in lithium-ion battery systems for industrial logistics. With operations in the EU, South Africa, and the USA, the company partners with OEMs, dealers, and fleet operators to deliver modular, safe, and intelligent energy solutions that replace fossil fuel power across multiple applications.

About Fairtree Elevant Ventures | Venture Capital

Fairtree Elevant Ventures is a European investment fund, focused on accelerating ambitious, growth-orientated companies preparing to scale. With a focus on Seed to Series A investment in Europe, we find and back trailblazing companies that harness innovation to redefine the future. Fairtree Elevant Ventures is a Netherlands-domiciled fund and part of the Fairtree group of companies.