Accelleron has announced an agreement to acquire True North Marine (TNM), a Montreal-based digital technology company specializing in weather routing and voyage optimization services for the shipping industry. This acquisition is set to strengthen Accelleron’s portfolio by integrating TNM’s offerings with its own Tekomar XPERT Marine and Turbo Insights platforms, addressing critical aspects of vessel performance.
Acquisition Details
The acquisition, whose financial terms remain undisclosed, will see Accelleron take full ownership of TNM, retaining all of its approximately 50 employees upon the transaction’s completion in the coming weeks. TNM, which has a presence in the UK, India, China, and Greece, currently serves a customer base of around 800 ships. The company’s revenues for 2023 were reported to be in the low single-digit millions in Canadian dollars.
Enhancing Digital Capabilities
TNM’s products and research have garnered recognition, including the 2023 AI Innovation Award from the Quebec Association for the Development of Research and Innovation and First Place in the 2023 Practice Prize Competition of the Canadian Operational Research Society. The integration of TNM’s technology with Accelleron’s digital platforms is expected to enhance insights for turbochargers, engines, emissions, hulls, and propellers. The digital modules from TNM will interface seamlessly with existing ship automation systems, enabling ship owners and operators to collaborate effectively on voyage planning, decarbonization efforts, and achieving commercial objectives.
Strategic Synergies
Cristian Corotto, president of Accelleron’s digital division, emphasized that digitalization and data are crucial to transforming the global marine industry. He highlighted that the synergies from this acquisition would help customers optimize fleet planning, reduce fuel consumption and costs, lower emissions, and ensure compliance with evolving international regulations.
Looking Forward
Brian Hatter, president of TNM, expressed enthusiasm about joining Accelleron’s digital division, noting that the combined offerings would create a transparent data connection between the bridge and engine room. This integration will allow vessel owners and charterers to work together more efficiently, promoting sustainable operations in the shipping industry.
Did you subscribe to our daily Newsletter?
It’s Free! Click here to Subscribe!
Source: Seatrade Maritime
