Singapore-based Yinson Green Technologies (YGT), part of Malaysia’s Yinson Group, has made a strategic investment in Zeabuz, a Norwegian startup specialising in autonomous shipping services.
YGT said the investment will allow it to work with Zeabuz in the development of autonomous solutions for its future fleet of electric vessels.
Founded in 2019, Zeabuz has developed a proprietary autonomy platform that it says is scalable, certifiable, and suitable for both new designs and retrofitting on existing vessels.
Although YGT did not disclose the size of the investment made through its subsidiary, Yinson Venture Capital, the Trondheim-based spin-off of the Norwegian University of Science and Technology’s progressive research center for autonomous marine operations and systems, said that YGT and Statkraft Ventures added a total of NOK20m ($2m).
Commenting on the investment, Eirik Barclay, chief executive of YGT, said: “We recognise the enormous potential of autonomous vessels and see Zeabuz as being well placed to become a leader in this segment. Following this investment, we look forward to collaborating closely with Zeabuz to bring highly innovative autonomous vessel solutions to the Singapore market.”
