Singapore-based Eastern Pacific Shipping Ventures (EPS Ventures) and Norwegian state-owned Nysnø Climate Investments have jointly invested NOK 50m in Zinus, a Norwegian innovator in maritime charging and shore power solutions.
This private placement secures EPS Ventures, the corporate venture capital arm of Eastern Pacific Shipping (EPS), and Nysnø as shareholders in Zinus. Both investors will take seats on the company’s Board of Directors, further solidifying their strategic involvement.
Zinus CEO Endre Eidsvik said: “The new co-owners bring significant strength to our company, enabling us to accelerate growth and innovation in sustainable maritime technologies.”
The current shareholders—LOS Gruppen, Eviny Ventures, and DSD—will retain their ownership stakes and continue to provide support for the company’s vision and growth journey.
Zinus develops and supplies charging and shore power solutions, which are seen as essential for reducing the maritime industry’s carbon footprint. Access to shore power allows vessels to turn off fossil fuel engines during port stays, leading to significant reductions in CO2 emissions. Expanding charging infrastructure further enables the use of hybrid and fully electric vessels for cargo and passenger transport, with minimal or zero greenhouse gas emissions.
Eidsvik added: “Our new investors bring vital capital to drive innovation and growth, alongside a shared commitment to advancing shore power solutions for the shipping industry. With their extensive maritime expertise and global networks, we are well-positioned to accelerate our international expansion. Already established with our products in over ten countries, we remain dedicated to bringing our sustainable technology to new markets worldwide. We plan to recruit 15 new employees in 2025, expanding our team from 50 to 65, to support and accelerate this growth.”
EPS, one of the world’s largest privately owned shipping companies, says it is dedicated to catalysing maritime innovation through its venture arm, EPS Ventures, which invests in transformative technologies and sustainable solutions. State-owned Nysnø invests in companies with technology for reducing GHG emissions.
Gary Ong, Investment Manager EPS Ventures, said: “Investing in Zinus aligns with our mission to support innovative solutions that drive sustainability in the maritime industry. Shore power solutions are critical to reducing the carbon footprint of global shipping, and Zinus has proven itself as a leader in this space. We are excited to partner Zinus and Nysnø to accelerate the adoption of technology that drives the decarbonisation of the maritime sector.”
Yvonne Silden Langlo, Senior Investment Manager, Nysnø said: “With innovative technology solutions, Zinus addresses the critical issue of maritime emissions, which account for 3% of worldwide emissions. Norway’s strength in the maritime sector presents a unique opportunity, and Zinus, headquartered in Bømlo, has achieved a prominent global standing. Our investment seeks to support their growth internationally and contribute to the sector’s decarbonisation efforts.”
Eidsvik concluded: “EPS Ventures’ and Nysnø’s entry into Zinus is a resounding endorsement of our technology and the vital role it plays in decarbonising global shipping. Their investment is both a strong industrial and governmental cheer for our mission: Supplying the most innovative, efficient, aesthetic and user-friendly solutions for an electrified world.”
Image: Zinus shore power has received two significant financial injections (source: Zinus)
