TOYOTA MATERIAL HANDLING NORTH AMERICA ANNOUNCES STRATEGIC INVESTMENT IN ADVANCED CHARGING TECHNOLOGIES

COLUMBUS, Ind., Oct. 23, 2025 /PRNewswire/ -- Toyota Material Handling North America (TMHNA), comprised of the Raymond Corporation and Toyota Material Handling brands, is making a strategic investment in Advanced Charging Technologies (ACT).

ACT, a long-standing provider of charging solutions to both Raymond and Toyota, develops advanced battery charging technologies for the material handling industry. Through this investment, ACT will continue to serve TMHNA's distribution network and expand its reach as a preferred provider of next-generation energy solutions.

"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."

As part of the investment, TMHNA 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.

"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."

The investment marks another step in TMHNA's long-term strategy to lead the industry in electrification, sustainability and innovation, building on its commitment to delivering cutting-edge technologies and energy storage solutions to our customers globally.

For more information on TMHNA and its brands' commitments to providing innovative energy solutions, visit Toyota Material Handling at toyotaforklift.com or The Raymond Corporation at raymondcorp.com.

About Toyota Material Handling North America
Toyota Material Handling North America (TMHNA), the industry leader in forklift sales, is comprised of two main brands: The Raymond Corporation and Toyota Material Handling. One in three forklifts sold in North America is either a Toyota or Raymond product. With nearly 2.5 million square feet of manufacturing space, TMHNA is composed of four primary manufacturing locations: Columbus, Indiana; Greene, New York; Muscatine, Iowa; and East Chicago, Indiana, that produce more than 1,900 forklifts per week. With an annual revenue of more than $7 billion, TMHNA has more than 16,000 associates and nearly 300 dealership locations, and solutions and support centers to keep Toyota and Raymond customers operating productively throughout North America.

SOURCE Toyota Material Handling North America (TMHNA)