Volvo said its Volvo Penta unit has bought a majority stake in 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.
Financial details of the deal were not diclosed.
“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,” explains Peter Granqvist, Chief Technology Officer, Volvo Penta. “There are very specific considerations of utmost importance around the installation environment, safety, the use case itself as well as 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,” he continues.
In 2009, ZEM was founded 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. ZEM will remain operating under its current brand, and under the leadership of Egil Mollestad, the long-term CEO of ZEM and a recognized pioneer in the maritime sector.