Swedish deeptech company Zparq has received €5.5 million ($6.38 million) in EU funding, supporting the development and scaling of its advanced Z10 electric drivetrain platform.
Selected as one of only 40 European start-ups in the prestigious EIC Accelerator programme, Zparq is spearheading the marine sector’s shift towards sustainable, zero-emission propulsion.
The €5.5 million funding package combines a grant with equity investment, enabling Zparq to complete the commercialisation of its core technology and expand its global market reach.
Existing investors—including InnoEnergy, Santander Climate Fund, and Almi Invest Greentech—have reaffirmed their commitment, backing Zparq’s ongoing innovation and growth ambitions.
Jonas Genchel, CEO and Co-founder of Zparq, commented: “This milestone underscores both the technological strength of our platform and the momentum for change across the marine industry.
“With increasing regulatory pressure and clear customer demand for sustainable propulsion, the time for electrification is now. Our Z10 platform proves that electric propulsion can be clean, safe, and fully competitive, not only in performance, but also in cost and reliability.”
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At its core, the patented Z10 platform delivers ultra-compact, scalable electric drivetrains suitable for both recreational and commercial vessels, including rescue craft. It features integrated safety systems, advanced battery management, and theft prevention measures.
Lowina Lundström, CEO of InnoEnergy Scandinavia, added: “Zparq is a prime example of how European deeptech innovation can transform entire industries. Their drivetrain platform addresses one of the most challenging sectors to decarbonise – marine propulsion – by combining technical excellence with industrial scalability.”
The EIC Accelerator is the EU’s flagship programme supporting high-impact deeptech start-ups with transformative potential. Nearly €230 million ($266.7 million) was allocated in this round to 40 companies, with Zparq among a select group focused on driving the energy transition in transportation.
