EST-Floattech, a pioneering developer of battery systems for maritime vessels, has secured a €4 million investment, according to the company's release.
This financial boost, aimed at propelling the electrification of the shipping sector, comes from the Energy Transition Fund Rotterdam along with contributions from existing shareholders including Rotterdam Port Fund, PDENH, Ponooc, and Yard Energy.
With its innovative lithium-ion battery systems, designed for electric and hybrid propulsion of inland vessels, ferries, yachts, and more, EST-Floattech is at the forefront of reducing CO2 emissions, fuel costs, noise pollution, and improving air quality in maritime transport.
Energy Transition Fund Rotterdam leads this investment round with a €3 million contribution, making it the fund's inaugural venture into maritime battery systems. The remaining €1 million is pooled in by existing stakeholders.
EST-Floattech develops and manufactures high-quality lithium-ion battery systems for fully electric and hybrid marine applications. The new Octopus Series can be installed in virtually any vessel thanks to its modular construction and it is certified by DNV, Lloyds Register, and Bureau Veritas. The inhouse-developed battery management system ensures that the batteries operate efficiently and safely. For vessels with high energy requirements but no room for a dedicated battery room, EST-Floattech designs customized battery containers. EST-Floattech is based in Badhoevedorp and was founded in 2009.
Energietransitiefonds Rotterdam is the investment fund of the municipality of Rotterdam, with a size of €100 million. The revolving fund finances innovative companies and large sustainable projects that can contribute to Rotterdam's energy transition and circular economy. With the fund, the city aims to reduce CO2 emissions, improve air quality, and reduce the use of raw materials. InnovationQuarter acts as the fund manager for Energietransitiefonds Rotterdam.
Independent investment fund Rotterdam Port Fund invests in innovative port-related companies with attractive market potential that contribute to the sustainability, digitalization, or safety of the port sector. The fund is an initiative of the Port of Rotterdam Authority, NIBC Bank, InnovationQuarter, Koninklijke Doeksen, Rotterdam entrepreneurs Peter Goedvolk and Luc Braams, as well as several private investors.
Participatiefonds Duurzame Economie Noord-Holland (PDENH) invests in startups, established companies, and projects in the province of Noord-Holland. The focus areas are energy transition, the circular economy, and sustainable mobility. Business activities must take place in North Holland and generate both financial, economic, and social returns.
Ponooc is an independently operating investment fund focused on investments in sustainable energy and mobility. Ponooc is affiliated with the Pon Group, one of the largest family-owned companies in the Netherlands, operating in 32 countries with 80 companies and more than 12,000 employees worldwide. In addition to EST-Floattech, the current portfolio includes companies active in smart city solutions, energy services, and shared mobility.
YARD ENERGY is one of the largest private developers and investors in wind energy in the Netherlands and has realized more than 400 MW of wind-on-land projects in the Netherlands, Finland, and Poland. In addition to its own realized projects, YARD ENERGY strategically invests in companies and projects with a focus on energy transition.
InnovationQuarter is the regional development company for South Holland. InnovationQuarter invests in innovative Zuid-Holland companies with growth ambitions, assists international companies in establishing themselves in this unique delta region, and organizes (international) cooperation between innovative entrepreneurs, knowledge institutions, and the government. Thus, together with the business community, InnovationQuarter develops South Holland into one of the most innovative regions of Europe. As a lifecycle financier, InnovationQuarter provides companies with financing in different phases of growth. InnovationQuarter invests from four funds: IQCapital, UNIIQ, ENERGIIQ, and the Energietransitiefonds Rotterdam.