Swedish battery specialist Echandia has secured new long-term funding from U.S.-based S2G Investments, raising its latest round to SEK 325 million (USD 34 million).
The capital will support scale-up of production, U.S. market growth, and R&D from its new Marysville, Washington facility.
Echandia’s LTO battery systems serve ferries, RoRo/RoPax vessels, tugs, and offshore ships, with clients including Molslinjen and WETA San Francisco.
Revenue quadrupled in 2024 and is set to triple again in 2025 amid rising demand for zero-emission marine tech.
Echandia will supply batteries for the San Francisco Bay Ferry’s REEF programme, with deliveries starting in 2026.
The RoRo ship ML FREYJA has arrived in Cagliari from Zeebrugge.
She will be renamed GRENDI STAR for a new long-term charter with Grendi Trasporti Marittimi.
Grendi, controlled by the Musso family, operates services linking mainland Italy (Marina di Carrara, Tuscany) with Sardinia (Cagliari and Olbia).
Built in 2017 by Cantiere Navale Visentini and owned by Visemar Levante (Visentini family), the ship offers:
2,700 lane metres
Length: 191m
Beam: 26m
Draught: ~8m
Speed: 22 knots
Until recently, ML FREYJA was chartered by Mann Lines (now owned by Wallenius SOL) in Northern Europe, calling at Bremerhaven, Zeebrugge, Tilbury, Cuxhaven, Paldiski, and Turku.
She has been replaced by the newly built SOUTH ENABLER, also delivered by Cantiere Navale Visentini.
