- Zparq, a DeepTech company based in Stockholm, has been awarded €5.5 million in funding from the European Union to enhance its electric drivetrain technology. This investment aims to support the development and scaling of its innovative Z10 platform, which is designed to facilitate the marine industry’s transition to sustainable, zero-emission propulsion systems.
- Founded with the vision to revolutionize marine transport, Zparq is focused on creating electric drivetrains that can be utilized across a variety of vessels, ranging from leisure boats to rescue fleets. The funding is expected to accelerate the company’s efforts in enhancing the efficiency and performance of its electric solutions, which are critical for reducing carbon emissions in maritime operations.
- The announcement underscores the growing commitment within Europe to address climate change through advancements in clean technology. Zparq’s CEO expressed gratitude for the support, stating that this funding will significantly contribute to achieving their mission of transforming marine transport into a sustainable sector. The company aims to demonstrate the viability of electric drivetrains in real-world applications, setting a new standard for the industry.
Source: Swedish Tech News
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