About ZEM
Marine electrification since 2010
Founded in 2009 at Høvik outside Oslo. A subsidiary of Volvo Penta, part of the Volvo Group, since 2021.
From electric cars to ships
The core team started on batteries for the Think electric car in 1993. ZEM was founded in 2009, moved into the maritime sector a year later and helped DNV write its first guidelines for batteries on ships.
Two of the vessels we have electrified, Vision of the Fjords and Future of the Fjords, were named Ship of the Year. Today more than 40 people work at ZEM, and revenue has grown more than sixfold since 2020.
Timeline
- 1993The core team starts working on batteries for the Think electric car.
- 2009ZEM is founded.
- 2010ZEM enters the maritime sector and helps write battery guidelines with DNV.
- 2012Joint venture with DNV. ZEM trains DNV staff on battery systems.
- 2016Battery system for Vision of the Fjords, Ship of the Year at SMM.
- 2017Peak shaving on Viking Queen and Viking Energy, with more than 20 % fuel savings.
- 2018Future of the Fjords, Ship of the Year.
- 2021Volvo Penta acquires a majority stake in ZEM.
- 2022Norsafe E-GES electric lifeboat and Moen Marin fish-farm vessels.
- 2023Launch of the AKAZEM battery line for smaller ships, ferries and hybrids.
- 2024Gazelle company for the third year running.
Growth
A Gazelle company in 2022, 2023 and 2024, with more than 40 employees.
| Year | Revenue (MNOK) |
|---|---|
| 2020 | 40 |
| 2021 | 71 |
| 2022 | 128 |
| 2023 | 209 |
| 2024 | 298 |
Ownership
Part of Volvo Penta
Volvo Penta acquired a majority stake in ZEM in June 2021. Together we combine ZEM's marine battery expertise with Volvo Penta's driveline experience and global service network.
Management
Jonathan Sørbye
CEO
Egil Mollestad
Co-founder, special advisor
Jörgen Ohlson
CTO
Martin Andersen
CFO
Erik Skaarnæs
Sales and Business Development Director