Fleetzero Raises $43 Million Series A from Obvious Ventures, Maersk Growth, Breakthrough Energy Ventures, 8090 Ventures and Others to Scale Shipping Electrification and Autonomy [Yahoo! Fi...
A.P MOLLER-MRS UNS/ADR (AMKBY)
NASDAQ:AMEX Investor Relations:
investor.maersk.com/investor-relations
Company Research
Source: Yahoo! Finance
announced a $43 million Series A financing and the opening of a new manufacturing and R&D facility in Houston, Texas. The capital will be used to expand manufacturing of Fleetzero's Leviathan™ hybrid and electric marine propulsion system, which is being deployed globally on commercial vessels. "Hybrid and electric propulsion systems are simply cheaper, safer, and cleaner than traditional systems, and the shift in the industry towards electrification is inevitable," said Steven Henderson, co-founder and CEO of Fleetzero. Fleetzero's new headquarters in Houston will serve as the company's hub for manufacturing and R&D. The facility includes a production line with an initial capacity of 300 MWh/year of marine ESS systems, a marine robotics and autonomy lab, and a marine propulsion R&D center. Fleetzero plans to expand its Houston production capacity up to three GWh/yr over the next five years. "Houston has the people who know how to build and operate big hardware – ships, rigs, r
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