Skip to main content

VOLVO PENTA TAKES MAJORITY STAKE IN MARINE BATTERY COMPANY

VOLVO PENTA TAKES MAJORITY STAKE IN MARINE BATTERY COMPANY

Thursday, June 3, 2021 

Volvo Penta has announced an exciting new acquisition of ZEM a company with 12 years of market experience as a supplier of both marine battery systems and complete electric drivelines, and a strong track record in Norway, the most mature marine e-mobility market in the world.

Peter Granqvist, CTO Volvo Penta, said: “As a part of the Volvo Group’s great electromobility initiatives, Volvo Penta has a solid technology foundation to leverage. Marine electromobility, however, has a unique set of requirements. There are very specific considerations that are of the utmost importance around the installation environment, safety, as well as the use case itself plus the current lack of charging infrastructure. We believe that bringing different perspectives and experiences together is key when it comes to developing, and progressing, within the field of marine electromobility. The ambition of this fantastic acquisition is to take another step forward in our electromobility development, thanks to the specialised marine competence and offer that ZEM has today.”

ZEM was founded in 2009 as an advisor to the maritime and offshore sector to design battery and hybrid solutions. Today, the company has delivered battery solutions to many different applications, ranging from ferries, offshore supply vessels, and high-speed passenger ships, to lifeboats and the booming aquaculture sector. Among its pioneering solutions are the battery systems to the SMM 2016 Ship of the Year Vision of the Fjords as well as the fastest battery-driven catamaran Ryger Elektra and the electric free-fall Viking Norsafe lifeboats.

Both companies will contribute knowledge, experience, and expertise. Volvo Penta will support ZEM’s growth through its established network, while ZEM’s experience will help Volvo Penta accelerate development projects. Together the companies will expand and accelerate Volvo Penta’s range and capabilities in marine electromobility.

Jan-Olaf Willums, founder of ZEM, said: “Joining forces with Volvo Penta marks the start of an exciting new phase for ZEM. Our two companies are aligned on such core values as safety and environmental protection and we both have that Scandinavian pioneering spirit! Volvo Penta’s name and market reach will help propel us into new electromobility markets supporting our growth.” 

Volvo Penta is redirecting further resources into accelerating product development, aiming to reach net-zero emissions through fossil-free, renewable fuels, electric, and hybrid technology while continuing to provide efficient solutions.

“Volvo Penta’s vision is to become a leader in sustainable power solutions, where we are driving transformation on land and at sea towards a more sustainable society,” said Heléne Mellquist, President, Volvo Penta. “With this acquisition, we are now able to offer driveline solutions for marine customers through ZEM and also contribute to the broader marine electromobility footprint through battery supply. It is a step forward in our transformation and will also allow Volvo Penta to capture new opportunities.”

Reader Comments (0)

There are currently no comments on this article. Why not be the first and leave your thoughts below.

Leave Your Comment

Please keep your comment on topic, any inappropriate comments may be removed.

Return to index