EST-Floattech has secured a €4 million investment to advance its innovative maritime battery systems, furthering the electrification of the shipping industry in response to rising environmental and regulatory demands.

Information on the Target

EST-Floattech, a developer of maritime battery systems, has secured a €4 million investment from Energietransitiefonds Rotterdam along with support from existing shareholders including Rotterdam Port Fund, Ponooc, Yard Energy, and PDENH. The company focuses on the development and production of high-quality lithium-ion battery systems intended for electric and hybrid propulsion across various vessels, including inland ships, ferries, and yachts. Combining these systems with proprietary software significantly reduces CO2 emissions, fuel expenses, noise pollution, and improves air quality.

Industry Overview in the Target’s Specific Country

The electrification of maritime transport holds tremendous social importance, particularly in the Netherlands, where both inland and maritime shipping accounts for 16.5% of the national CO2 emissions. As the demand for goods transportation over water is projected to rise significantly in the coming years, the European Union aims for a 50% increase in cargo transport via inland waterways and shorter sea routes by 2050 compared to 2015. Specifically, international shipping is expected to see over 200% growth in volume from 2023 to 2050. Currently, only 1% of the global fleet is electrified, highlighting the urgency for the sector to meet net-zero goals by 2050.

Moreover, the EU's CO2 emissions trading system (EU-ETS) for larger ships has been in effect since January 1, 2024. It serves as a vital mechanism to cost-effectively reduce greenhouse gas emissions, with expectations that smaller vessels will be included by 2026