Zparq, a DeepTech firm creating next-generation electrical drivetrains out of Stockholm, has been awarded €5.5 million in EU funding to finish the event and scaling of its Z10 platform and to drive the marine business’s transition in direction of sustainable, zero-emission propulsion.
This funding is a mix of an EIC grant and an fairness funding by means of Zparq’s present buyers InnoEnergy, Santander Local weather Fund and Almi Make investments Greentech.
“This milestone underscores each the technological power of our platform and the momentum for change throughout the marine business,” says Jonas Genchel, CEO and Co-founder of Zparq. “With growing regulatory stress and clear buyer demand for sustainable propulsion, the time for electrification is now. Our Z10 platform proves that electrical propulsion could be clear, secure, and totally aggressive, not solely in efficiency, but in addition in value and reliability.”
The funding awarded to Zparq for its Z10 marine drivetrain platform suits inside a broader 2025 development of European startups advancing electrified propulsion and clear mobility applied sciences.
This consists of Finland’s Donut Lab, which raised €25 million to develop a modular EV platform for land, sea and air automobiles, and the Netherlands’ Deftpower, which secured €12.5 million to develop its AI-driven EV charging community throughout Europe.
Whereas Zparq is the one Swedish firm on this group, the exercise throughout the Nordic area – significantly Donut Lab’s Finnish elevate – illustrates the area’s robust momentum in sustainable propulsion and deep-tech innovation.
Zparq’s mixture of grant and fairness financing beneath the EIC Accelerator additionally displays how public devices proceed to play a pivotal position in scaling European clean-transport applied sciences.
“Zparq is a chief instance of how European DeepTech innovation can rework complete industries,” says Lowina Lundström, CEO of InnoEnergy Scandinavia. “Their drivetrain platform addresses probably the most difficult sectors to decarbonise – marine propulsion – by combining technical excellence with industrial scalability. At InnoEnergy, we’re proud to help Zparq in bringing this breakthrough to market, thereby accelerating Europe’s management in clear and aggressive marine know-how.”
Based in 2020, Zparq seems to supply probably the most compact and scalable direct-drive system for propeller-driven watercrafts available on the market. Zparq gives electrical motors and full powertrains for the total vary of leisure boats in addition to business vessels, enabling an environmentally pleasant, environment friendly, and quiet propulsion with minimal upkeep.
Zparq is one in all solely 40 European start-ups to be chosen for the EIC Accelerator programme, chosen from over 1,000 candidates. On this spherical, almost €230 million was allotted to solely 40 chosen corporations, with the bulk offered as blended finance.
“We’re extremely blissful and proud to have been chosen for the EIC Accelerator in such powerful competitors. It’s a robust validation that our know-how comes on the proper time and has the potential to make an actual distinction,” provides Genchel. “This recognition and funding will enable us to scale sooner, construct new partnerships, and drive the systemic change wanted to decarbonize waterways.”
In response to the corporate, the marine sector has lengthy relied on inside combustion engines, however their environmental affect, greater upkeep prices, and regulatory hurdles are accelerating the shift towards electrification. Zparq goals to handle these challenges head-on with its ultra-compact, scalable, and totally built-in electrical drivetrains.
Its Z10 platform is designed not just for leisure boats but in addition for demanding business and rescue purposes, with built-in security methods, superior battery administration, and theft-prevention know-how redefining the requirements for marine mobility.
With this financing, Zparq will be capable of:
- Full the event of the whole Z10 platform, the corporate’s core know-how for electrical drivetrains.
- Scale up the know-how for wider market adoption and industrial manufacturing.
- Proceed attracting worldwide companions and prospects within the transport sector