Developer of maritime battery systems EST-Floattech receives an investment of 4 million euros from Energy Transition Fund Rotterdam and existing shareholders Rotterdam Port Fund, PDENH, Ponooc, and Yard Energy. This was announced by Chantal Zeegers, the Alderman for Climate, Building, and Housing in Rotterdam. The ‘Energietransitiefonds Rotterdam’ is the investment fund of the municipality of Rotterdam.
EST-Floattech develops and produces high-quality lithium-ion battery systems for electric and hybrid propulsion of inland vessels, ferries, yachts, and more. Combined with in-house-developed software, the systems provide significant improvements when it comes to CO2 emissions, fuel costs, noise pollution, and air quality. Energy Transition Fund Rotterdamis investing 3 million euros, the fund’s first investment in maritime battery systems. The existing shareholders are jointly investing 1 million euros.
An example of cooperation in the maritime ecosystem
As fund manager of Energy Transition Fund Rotterdamand investor in Rotterdam Port Fund, InnovationQuarter is closely involved in the investment. Rotterdam Port Fund is a private investment fund focused on innovation in the port sector. The fund played an important role in the realization of the transaction, which exemplifies the close cooperation within the South Holland maritime cluster. EST-Floattech contributes to this ecosystem through their many Rotterdam customers, including Damen and KOTUG. Innovation in electrification aligns with both the Regional Maritime Agenda 2030 and the Regional Energy Strategy for Rotterdam/ The Hague.
Great societal importance
The electrification of shipping has great social importance. Inland and maritime shipping together account for 16.5% of the Netherlands’ CO2 emissions. Moreover, goods transported by water will increase significantly in the coming years. The EU is aiming for a 50% increase in transport via inland waterways and shorter sea routes by 2050 compared to 2015. For international shipping, volume growth of over 200% is even expected between 2023 and 2050. Currently, only 1% of the global fleet is electrified, and the sector needs to catch up tremendously to achieve net zero by 2050.
Since January 1st, 2024, the European CO2 emissions trading system EU-ETS has been in place for larger ships, with smaller ships expected to follow in 2026. The increasing costs associated with CO2 emissions make electrification increasingly interesting within a rapidly growing market. As the second-largest player, there is a great opportunity here for EST-Floattech.
International growth
Lithium-ion batteries combine low weight with high energy density, low self-discharge, and long life. EST-Floattech’s battery management system monitors charge status, discharge status, temperature, and other parameters to ensure efficient and safe battery operation. Fire safety is critical on ships. At EST-Floattech, safety is the highest priority, and the new Octopus Series battery system has been certified by classification bureaus DNV, Lloyd’s Register, and Bureau Veritas.
For the aluminum housing, insulation material, electronic components, and the racks in which the battery cells are installed, EST-Floattech is working with Dutch partners. The investment will allow EST-Floattech to continue to grow nationally and internationally. The company is focusing on market leadership in Northwest Europe and is working with battery manufacturer DuraPower for access to Asia and Oceania. EST-Floattech also plans to focus on larger vessels in the future.
“The investment of Energietransitiefonds Rotterdam and the current shareholders in EST-Floattech not only brings new capital, which helps us take the next step towards growth, it also shows that the Netherlands believes in the power of innovation and sustainable energy. With InnovationQuarter, we have added a new partner, and together with Ponooc, Yard Energy, Rotterdam Port Fund, and PDENH, we continue to build a future in which we contribute to making the maritime industry more sustainable.”
Joep Gorgels, CFO and CBDO of EST-Floattech
“Rotterdam attracts companies that dare to invest in the energy transition. We are seeing this with EST-Floattech. Their innovative battery technology for ships contributes to the reduction of CO2 emissions in a sector where there is much to be gained. It is incredibly nice that through the Energietransitiefonds Rotterdam we can support companies like this.”
Chantal Zeegers, the Alderman for Climate, Building, and Housing in Rotterdam
About EST-Floattech
EST-Floattech develops and manufactures high-quality lithium-ion battery systems for fully electric and hybrid marine applications. The new Octopus Series can be installed in virtually any vessel thanks to its modular construction and it is certified by DNV, Lloyds Register, and Bureau Veritas. The inhouse-developed battery management system ensures that the batteries operate efficiently and safely. For vessels with high energy requirements but no room for a dedicated battery room, EST-Floattech designs customized battery containers. EST-Floattech is based in Badhoevedorp and was founded in 2009.
About Energietransitiefonds Rotterdam
Energietransitiefonds Rotterdam is the investment fund of the municipality of Rotterdam, with a size of €100 million. The revolving fund finances innovative companies and large sustainable projects that can contribute to Rotterdam’s energy transition and circular economy. With the fund, the city aims to reduce CO2 emissions, improve air quality, and reduce the use of raw materials. InnovationQuarter acts as the fund manager for Energietransitiefonds Rotterdam.
About Rotterdam Port Fund
Independent investment fund Rotterdam Port Fund invests in innovative port-related companies with attractive market potential that contribute to the sustainability, digitalization, or safety of the port sector. The fund is an initiative of the Port of Rotterdam Authority, NIBC Bank, InnovationQuarter, Koninklijke Doeksen, Rotterdam entrepreneurs Peter Goedvolk and Luc Braams, as well as several private investors.
About PDENH
Participatiefonds Duurzame Economie Noord-Holland (PDENH) invests in startups, established companies, and projects in the province of Noord-Holland. The focus areas are energy transition, the circular economy, and sustainable mobility. Business activities must take place in North Holland and generate both financial, economic, and social returns.
About Ponooc
Ponooc is an independently operating investment fund focused on investments in sustainable energy and mobility. Ponooc is affiliated with the Pon Group, one of the largest family-owned companies in the Netherlands, operating in 32 countries with 80 companies and more than 12,000 employees worldwide. In addition to EST-Floattech, the current portfolio includes companies active in smart city solutions, energy services, and shared mobility.
About YARD ENERGY Group B.V.
YARD ENERGY is one of the largest private developers and investors in wind energy in the Netherlands and has realized more than 400 MW of wind-on-land projects in the Netherlands, Finland, and Poland. In addition to its own realized projects, YARD ENERGY strategically invests in companies and projects with a focus on energy transition.
About InnovationQuarter
InnovationQuarter is the regional development company for South Holland. InnovationQuarter invests in innovative Zuid-Holland companies with growth ambitions, assists international companies in establishing themselves in this unique delta region, and organizes (international) cooperation between innovative entrepreneurs, knowledge institutions, and the government. Thus, together with the business community, InnovationQuarter develops South Holland into one of the most innovative regions of Europe. As a lifecycle financier, InnovationQuarter provides companies with financing in different phases of growth. InnovationQuarter invests from four funds: IQCapital, UNIIQ, ENERGIIQ, and the Energietransitiefonds Rotterdam.
