- Singapore-based EPS Ventures and Norwegian state-owned Nysnø Climate Investments have invested NOK 50 million in Zinus, a Norwegian maritime charging and shore power solutions company.
- Both investors gain seats on Zinus’ Board of Directors, reflecting their strategic commitment.
- Zinus plans to expand its team from 50 to 65 employees by 2025, driving growth and international expansion.
- The investment aims to advance the decarbonisation of global shipping through innovative shore power and charging solutions.
According to Clean Shipping International, Eastern Pacific Shipping Ventures (EPS Ventures), the venture capital arm of Eastern Pacific Shipping (EPS), and Nysnø Climate Investments have become shareholders in Zinus through a NOK 50 million private placement. Both entities will take seats on the company’s Board of Directors, solidifying their involvement in Zinus’ strategic direction.
Support from Existing Shareholders
Current shareholders, including LOS Gruppen, Eviny Ventures, and DSD, will maintain their ownership stakes and continue to back Zinus’ mission of reducing the maritime industry’s carbon footprint.
Importance of Shore Power Solutions
Zinus is recognized for its innovative shore power and charging solutions that allow vessels to turn off fossil fuel engines while at port, significantly reducing CO2 emissions. These technologies support the transition to hybrid and fully electric vessels for cargo and passenger transport, contributing to minimal or zero greenhouse gas emissions.
Statements from Key Leaders
- Endre Eidsvik, CEO, Zinus:
“The new co-owners bring significant strength to our company, enabling us to accelerate growth and innovation in sustainable maritime technologies. Their maritime expertise and global networks position us well for international expansion.” - Gary Ong, Investment Manager, EPS Ventures:
“Shore power solutions are critical to reducing the carbon footprint of global shipping, and Zinus has proven itself as a leader in this space. This investment aligns with our mission to drive sustainability in the maritime industry.” - Yvonne Silden Langlo, Senior Investment Manager, Nysnø:
“With innovative technology solutions, Zinus addresses the critical issue of maritime emissions, which account for 3% of worldwide emissions. Norway’s maritime strength presents a unique opportunity, and we aim to support Zinus’ global growth and decarbonisation efforts.”
Growth and Future Plans
Zinus is already established in over ten countries and aims to further its international expansion. The company plans to recruit 15 new employees in 2025 to support its growth initiatives. The investment from EPS Ventures and Nysnø is expected to drive technological innovation, enhance market reach, and solidify Zinus’ position as a global leader in sustainable maritime technologies.
A Shared Commitment to Decarbonisation
EPS Ventures, a major player in the global shipping industry, emphasizes investment in transformative technologies. Nysnø focuses on reducing greenhouse gas emissions through investments in innovative solutions. Their shared vision underscores the significance of Zinus’ role in advancing decarbonisation within the maritime sector.
Closing Remarks
Zinus CEO Endre Eidsvik concluded:
“EPS Ventures’ and Nysnø’s entry into Zinus is a resounding endorsement of our technology and mission to decarbonise global shipping. Their investment is both a strong industrial and governmental cheer for our mission: supplying the most innovative, efficient, aesthetic, and user-friendly solutions for an electrified world.”
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Source: Clean Shipping International
