Volvo Penta acquires majority stake in ZEM

ZEM has 12 years of market experience and a strong track record in Norway, said to be the most mature marine e-mobility market in the world.

“Marine electromobility has a unique set of requirements,” explained Peter Granqvist, chief technology officer, Volvo Penta. “There are very specific considerations of utmost importance around the installation environment, safety, the use case itself as well as the current lack of charging infrastructure,” he added.

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 and the company now serves the ferry, offshore supply vessel, high-speed passenger ship, lifeboat and aquaculture sectors.

Among the company’s 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.

ZEM will remain operating under its current brand led by long-term chief executive, Egil Mollestad. Although, ZEM will continue to grow its battery and complete driveline business, over time the two companies will create complete packages together.

“I look forward to working with Volvo Penta,” said Egil Mollestad. “This will allow us to grow, with regards to both technology and channels for sales and aftermarket support,” he added.