Stockholm-based Zparq, developer of next-generation electric drivetrains, has secured €5.5 million in EU funding to advance and scale its Z10 marine platform.
The funding combines an European Innovation Council (EIC) grant with equity investment from existing backers InnoEnergy, Santander Climate Fund, and Almi Invest Greentech.
Zparq was founded in 2020 and has developed a compact, scaleable drive train with a motor design optimised for submersible use and featuring a patented passive cooling system.
The company provides electric motors and complete powertrains for leisure and commercial vessels and is one of just 40 European startups chosen for the EIC Accelerator from more than 1,000 applicants.
This milestone underscores both the technological strength of our platform and the momentum for change across the marine industry.
Jonas Genchel
“This milestone underscores both the technological strength of our platform and the momentum for change across the marine industry,” explained Jonas Genchel CEO and Co-founder of Zparq.
“With increasing regulatory pressure and clear customer demand for sustainable propulsion the time for electrification is now.”
He continued: “Our Z10 platform proves that electric propulsion can be clean, safe, and fully competitive, not only in performance, but also in cost and reliability.”
And he said the funding will allow Zparq to scale faster, build new partnerships, and drive the systemic change needed to decarbonise waterways.
Technical excellence
“Zparq is a prime example of how European DeepTech innovation can transform entire industries,” said Lowina Lundström, CEO of InnoEnergy Scandinavia.
“Their drivetrain platform addresses one of the most challenging sectors to decarbonise – marine propulsion – by combining technical excellence with industrial scalability.
“At InnoEnergy, we are proud to support Zparq in bringing this breakthrough to market, thereby accelerating Europe’s leadership in clean and competitive marine technology.”
The Z10 platform features advanced battery management, integrated safety systems, and theft-prevention technology.
