Dutch-based EST-Floattech raises €4M to develop energy storage systems for zero-emission shipping

Netherlands-based EST-Floattech, a maritime battery systems developer, announced that it has raised €4M in fresh funding from the Energy Transition Fund Rotterdam and existing investors, including Rotterdam Port Fund, PDENH, Ponooc, and Yard Energy. 

The Dutch company received €3M from the Energy Transition Fund Rotterdam, marking the fund’s inaugural foray into maritime battery systems. 

Existing investors offered an additional €1M to support the development of sustainable solutions for inland vessels, ferries, yachts, and more.

Energy storage systems for zero-emission shipping

Founded in 2009, EST-Floattech specialises in lithium-ion battery systems designed for fully electric and hybrid marine applications. 

Its new modular Octopus Series, certified by DNV, Lloyds Register, and Bureau Veritas, offers versatile installation options for various vessels. It also meets stringent standards for fire safety on ships.

EST-Floattech claims that its lithium-ion batteries are low weight and high energy density and are equipped with an advanced management system, ensuring efficient and secure operation.

For vessels with limited space, customised battery containers are tailored to accommodate high energy requirements.

Funds for international growth

EST-Floattech will use the funds to expand nationally and internationally. With a focus on market leadership in Northwest Europe and strategic ties with DuraPower for access to Asia and Oceania, the company also eyes larger vessels in its future plans.

Joep Gorgels, CFO and CBDO of EST-Floattech, says, “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.”

Brief about the investors

Energietransitiefonds Rotterdam, a €100M investment fund by the municipality, managed by InnovationQuarter, supports projects for Rotterdam’s energy transition and circular economy, aiming to reduce CO2 emissions and improve air quality.

InnovationQuarter, the regional development company for South Holland, invests in and supports the growth of innovative companies in the region. With a focus on collaboration and financing through funds like IQCapital, UNIIQ, ENERGIIQ, and the Energietransitiefonds Rotterdam, InnovationQuarter aims to develop South Holland into one of Europe’s most innovative regions.

Rotterdam Port Fund, an independent investment initiative supported by the Port of Rotterdam Authority and partners, invests in companies contributing to the sustainability, digitalisation, and safety of the port sector.

Participatiefonds Duurzame Economie Noord-Holland (PDENH) invests in startups, companies, and projects within Noord-Holland, focusing on energy transition, circular economy, and sustainable mobility. The fund seeks financial, economic, and social returns while supporting initiatives located in the region.

Ponooc, affiliated with the Pon Group, is an investment fund specialising in sustainable energy and mobility. Operating globally with over 80 companies, it includes EST-Floattech in its portfolio, along with businesses in smart city solutions, energy services, and shared mobility.

YARD ENERGY is a private developer and investor in wind energy, having achieved over 400 MW in wind-on-land projects across the Netherlands, Finland, and Poland. The company strategically invests in energy transition-focused companies and projects.