Toyota Material Handling North America, which is made up of the Raymond Corp. and Toyota Material Handling brands, last week said it is making a strategic investment in Advanced Charging Technologies Inc., or ACT.
ACT has long provided charging systems to both Raymond and Toyota. The company develops advanced battery charging technologies for the material handling industry. Through this investment, ACT will continue to serve Toyota Material Handling North America’s (TMHNA) distribution network and expand its reach as a provider of energy systems.
“This partnership with TMHNA is an important step in our future,” said Bob Istwan, CEO of ACT. “Partnering with the global leader in electric material handling equipment opens a significant channel for growth and allows us to combine our world-class product offerings to bring solutions to market faster.”
Toyota Material Handling to join board of directors
As part of the investment, Toyota Material Handling will gain representation on ACT’s board of directors. Brett Wood, president and CEO of TMHNA, will serve on the board to help guide strategic direction and accelerate shared growth opportunities.
Toyota Material Handling and The Raymond Corp. fully merged in April 2025. With the merger, the companies said TMHNA plans to invest more in its people to accelerate growth. Currently, one in three forklifts sold in North America is either a Toyota or a Raymond product, Toyota said.
Toyota Material Handling‘s product offerings include forklifts, reach trucks, order pickers, pallet jacks, container handlers, automated guided vehicles (AGVs), and tow tractors. The Columbus, Ind.-based company acquired Raymond in 2001.
ACT brings over 15 years of battery experience
Founded in 2009, ACT develops forklift battery and charging systems. The company said it has shipped more than 60,000 chargers worldwide.
“ACT has been a trusted partner for many years, providing proven, reliable technologies that support our vision of advancing sustainable, electric-powered solutions in the material handling industry,” Wood said. “Through this investment, we are strengthening that relationship while opening new opportunities to serve our customers with innovative, integrated energy solutions.”
In February 2025, ACT integrated Resonant Link’s advanced wireless charging for material handling equipment (MHE) and ground support equipment (GSE) into its portfolio. Founded in 2017, Resonant Link’s proprietary technology achieves near-wired charging speed for material handling equipment and industrial electric vehicles.
Last year, it unveiled the Quantum 3 charger, a fleet charging system for electric MHE or eMHE operations. The Fountain Valley, Calif.-based company said Quantum 3 delivers peak efficiencies of 96.4% and full-cycle efficiencies exceeding 96%.
ACT said the charger empowers eMHE fleet managers to maximize uptime, reduce costs, and streamline operations, while addressing demands for sustainability and performance.
