- Frydenbø Maritime Industries has acquired Elmarin, a Norwegian leader in electric and hybrid maritime propulsion systems.
- Elmarin will be renamed Frydenbø Elmarin AS and operate as a sister company to Frydenbø Forward and Frydenbø Yards.
- Elmarin’s founders will remain on board as co-owners and key contributors, ensuring continuity and expertise.
Moving towards green maritime innovation, Frydenbø Maritime Industries has announced the acquisition of Elmarin, a leading provider of electric and hybrid propulsion systems. This strategic acquisition supports Frydenbø’s long-term growth strategy by integrating Elmarin’s advanced technologies, expanding product offerings, and enhancing the group’s ability to meet evolving customer demands.
Frydenbø Leaders About Elmarin Acquisition
Jarle Røyrvik, CEO of Frydenbø Maritime Industries, said the acquisition brings valuable expertise, advanced technology, and a broader product range, which will help the company strengthen its market presence and better meet changing customer needs.
Åsmund B. Heen, Chairman of Frydenbø Maritime Industries, expressed confidence in the partnership with Elmarin, highlighting that both companies went through a careful and constructive process. He emphasized that the acquisition reflects Frydenbø’s commitment to innovation, sustainability, and growth. He also noted the strong potential in electric propulsion systems and said the move positions Frydenbø as a leader in the maritime industry’s shift toward greener solutions.
Elmarin and Frydenbø Unite for Strategic Growth
Founders Jan Ove Knudsen and Geir Gustad have developed Elmarin into a leading force in vessel electrification for the aquaculture industry. With Experience in complete hybrid propulsion systems, maritime electronics, and automation solutions, the company has become a key supplier in the Norwegian maritime sector.
Frydenbø Forward, having long served the aquaculture market with traditional diesel propulsion systems, will now, through this acquisition, be able to offer a full range of IMO-approved low-emission and electric solutions for the aquaculture segment and beyond.
Founders Jan Ove Knudsen and Geir Gustad noted that the market has seen significant changes, including growing consolidation among customers and suppliers. They explained that partnering with Frydenbø Maritime Industries fulfills their long-standing goal of finding a strong and reliable partner. They added that both companies share similar values, complement each other well, and that this move will benefit customers, employees, and partners alike.
Frydenbø Maritime Industries has confirmed that the Elmarin founders will remain actively engaged as co-owners and key employees, ensuring valuable continuity and support for the company’s future growth. The acquisition remains subject to approval by the Norwegian Competition Authority. Until then, both companies will continue normal operations. A final decision is anticipated by May 2025.
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Source: Frydenbø
