Gothenburg-based Volvo Penta has purchased a majority shareholding in the Norwegian marine battery and electric driveline solutions supplier ZEM, widely seen as one the leading battery contenders in shipping’s propulsion transition.
ZEM was founded in 2009 and has designed battery and hybrid solutions for the maritime and offshore sector. It has supplied a range of products to ferries, offshore supply vessels, high-speed passenger ships, lifeboats and the booming aquaculture sector.
Peter Granqvist, chief technology officer, Volvo Penta, said: “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.”
In order to advance the Volvo Group’s sustainability agenda, Volvo Penta recently announced that it was accelerating its product development to provide net-zero emission solutions to the marine industry.
Heléne Mellquist, president of Volvo Penta, said: “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. 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.”