Volvo Penta acquires majority stake in marine battery systems pioneer ZEM AS.
Volvo Penta is expanding its capabilities, experience, and range by becoming the majority shareholder of Norwegian marine battery and electric driveline solutions supplier ZEM AS.
ZEM is a company with 12 years of market experience as a supplier of marine battery systems and complete electric drivelines and a strong track record in Norway, the most mature marine e-mobility market globally.
“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 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.”
These are challenging issues that require innovative problem-solving and experience. In addition, marine regulations differ from those on-road.
“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. “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 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. Together the companies will expand and accelerate Volvo Penta’s range and capabilities in marine electromobility.
Volvo Penta recently announced that it was redirecting further resources into accelerating its product development to advance the Volvo Group’s sustainability agenda. The ambition is to reach net-zero emissions through fossil-free, renewable fuels, electric, and hybrid technology while providing efficient solutions to the marine industry.
“The switch from diesel-based technology to electrification will be a key element in our transformation, alongside other new technological advancements,” says Heléne Mellquist. www.volvo.com