PSG joins Maersk and Cargill to bolster cleantech startup ZeroNorth with $50m fresh funding
Maersk Tankers’ digital solutions spinoff ZeroNorth has raised over $50m in investment during its recently concluded funding round that should enable the company to look to further accelerate decarbonisation in shipping.
Growth equity firm PSG Equity has injected cash and joined ZeroNorth’s current backers A.P. Moller Holding and Cargill, who also contributed with further investments.
ZeroNorth said the investment will help the company to ramp up operations and enable it to continue investing in product innovation, expand its customer-facing teams and pursue mergers and acquisitions to add data, products and services to its platform.
The investment will also help to enable ZeroNorth to continue to accelerate the green transition of global trade by driving down CO2 emissions in shipping in the immediate term, the company claimed.
“We have ambitious goals and PSG Equity shares our vision of enabling widescale change in how our industry operates,” said Søren Meyer, CEO of ZeroNorth, adding: “PSG Equity will provide strategic expertise honed from working with similar technology companies across our portfolio.”
ZeroNorth claimed it is on course to help cut CO2 emissions by over half a million metric tonnes in 2022, up from 218,000 tonnes in 2021.
