#Sweden #Stockholm #S2G Investments #Echandia #Maritime Battery

Echandia's New Funding Round

Echandia, recognized as a forerunner in the supply of maritime battery systems in Sweden, has recently announced a major financial milestone. The company secured new long-term financing from S2G Investments, raising its funding round to a substantial SEK 325 million (approximately USD $34 million). This investment marks a pivotal moment for Echandia, enabling them to propel their goal of advancing maritime electrification on a global scale.

Investment Purpose and Goals

This injection of funds, which comes as part of Echandia's latest funding announced earlier in March 2025, signals S2G's commitment as the first U.S.-based investor in Echandia. The financing will empower the company to enhance its production capabilities and increase its footprint in the North American market, particularly highlighting a new production facility being set up in Marysville, Washington. It will also support ongoing research and development efforts to improve the performance and endurance of their innovative battery technology.

Torbjörn Bäck, CEO of Echandia, expressed enthusiasm about this partnership, stating, "This is a significant achievement for Echandia. We are thrilled to accelerate our global expansion with S2G on board. Their deep expertise in maritime and energy system transitions aligns perfectly with our objectives. With North America as a critical growth region, we are poised to assist operators in cutting emissions, mitigating fuel price volatility, and improving vessel performance."

Revolutionary Battery Technology

Echandia is known for its cutting-edge Lithium Titanate Oxide (LTO) battery systems which are specifically designed to meet the rigorous requirements of maritime operations. These batteries not only promise enhanced safety but also boast a long lifespan and low maintenance needs, making them ideal for demanding marine environments. Echandia's technology caters to various vessel types including ferries, tugboats, RoRo/RoPax ships, and offshore workboats, supporting options for both fully electric and hybrid propulsion.

Notable clients include prominent system integrators such as Siemens and ABB, alongside operators like Molslinjen from Denmark and WETA San Francisco. This broad clientele reflects the growing market acceptance of their advanced solutions.

Strong Market Growth

Echandia's performance in 2024 was remarkable, with revenues quadrupling compared to the previous year, and projections show a potential tripling in 2025. This growth is attributed to rising demand and a robust order pipeline amid increasing pressures from global regulations. International mandates, including the IMO's carbon intensity targets and initiatives like the EU Emissions Trading System, highlight the urgent need for sustainable marine operations, making Echandia's battery solutions essential for businesses seeking compliance and improved operational efficiency.

The company's initiatives in North America are already in motion. In a noteworthy development, Echandia was chosen to provide battery systems for San Francisco Bay Ferry’s REEF (Rapid Electric Emission Free) Program, which will introduce the first high-speed, zero-emission ferries into U.S. waters, with deliveries scheduled to commence in 2026.

Kate Danaher, Managing Director of S2G's oceans strategy, believes in the potential of electrification to spearhead the decarbonization of the global maritime fleet, remarking, "Electrification is one of the most immediate and scalable pathways to significantly reduce emissions from over 100,000 vessels around the world. We’re proud to partner with Echandia, whose technology is already proving effective in real operations."

Upcoming Events

The announcement of this significant investment aligns with the kickoff of the Electric Hybrid Marine Expo Europe, where Echandia is set to showcase its innovations at Hall 8, Stand 5020. This event presents an excellent opportunity for attendees to interact with Echandia's team and delve into their next-generation marine battery systems.

About Echandia

Founded in 2018, Echandia has rapidly established itself as a global leader in marine battery systems, having delivered over 90 systems for electrification projects globally. The organization is committed to optimizing energy efficiency while reducing environmental impacts and driving the maritime sector toward sustainable operations. Headquartered in Stockholm, Echandia continues to push boundaries within the industry.

For more details, visit Echandia's official website.

About S2G Investments

S2G is a multi-stage investment firm actively focusing on venture and growth-stage opportunities across diverse sectors including food, agriculture, oceans, and energy. Committed to fostering long-term, measurable outcomes, S2G offers flexible capital solutions from venture funding to growth equity and infrastructure financing. Learn more at S2G's website.