Volvo Penta Takes Majority Stake in Marine Battery Systems Pioneer ZEM
Volvo Penta has announced an exciting new acquisition of 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.
ZEM’s core team has a background in electromobility that dates back to 1993. 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. Among the pioneering solutions are the battery systems to the SMM 2016 Ship of the Year “Vision of the Fjords” as well as the world’s fastest battery-driven catamaran “Ryger Elektra” and the first electric free-fall lifeboats “Viking Norsafe.”
In order to advance the Volvo Group’s sustainability agenda, Volvo Penta recently announced that it was redirecting further resources into accelerating its product development. The ambition is to reach net-zero emissions through fossil-free, renewable fuels, electric, and hybrid technology while continuing to provide efficient solutions to the marine industry.
“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,” said Heléne Mellquist, President of Volvo Penta. “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.”