Nesec contributes to the funding of maritime battery developer EST-Floattech
Rotterdam, April 10, 2024 – Rotterdam-based Nesec Financiering is pleased to announce its contribution to an investment program increasing maritime sustainability. By providing a strategic loan, Nesec plays a pivotal role in the total capital attracted by EST-Floattech from Energietransitiefonds Rotterdam, Rotterdam Port Fund, PDENH, Ponooc, and Yard Energy.
EST-Floattech will put the investment to use in the ongoing advancement and production of the maritime type-approved Octopus Series battery systems by various classification societies for the propulsion of hybrid and fully electric vessels. The battery system is specifically designed for the maritime industry, including inland and short-sea shipping, ferries, tugs, push-boats and yachting. EST-Floattech stands as a partner throughout the project, offering support from the beginning until the vessel is sailing successfully.
The Octopus Series battery system is modular in design, ensuring different types of vessels can easily be equipped with the right amount of energy for the tasks and a battery system that fits in the room available or is placed in a container. Accompanied by in-house-developed software that monitors (dis-)charge status, temperature, and more parameters to ensure safe and efficient use of the system. The combination of hardware and software results in a safe solution offering a significant reduction in fuel consumption, emissions, and noise pollution.
Increase sustainable shipping
In the coming years, the European Union has the ambitious plan to increase the volume of goods transported by inland waterways and short sea routes by 50% compared to 2015 levels. At the same time, the EU Emissions Trading System (ETS) is expected to be rolled out to smaller vessels, with cost implications for CO2 output in the vessels serving these routes. Both of these ambitions for the maritime industry make the electrification of vessels increasingly attractive to operators and represent opportunities for EST-Floattech.
Joost Bout, Relationship Manager of Nesec, said, “With over 75 years of experience in providing funding for the shipping sector, this loan for the advancement of EST-Floattech’s maritime battery systems represents a new arena for us. This is a clear sign of the times, and the work of EST-Floattech is playing a crucial role in supporting maritime operators in achieving their sustainability objectives. Nesec is very proud to support this important work and contribute to the sustainability of our environment and of our sector for future generations.”
Joep Gorgels, Co-director at EST-Floattech, states, “The contribution of Nesec Financiering’s to the funding round with Energietransitiefonds Rotterdam, Rotterdam Port Fund, PDENH, Ponooc, and Yard Energy is important to bring EST-Floattech and thus maritime sustainability to the next level. This investment supports our commitment to revolutionizing the maritime industry with the Octopus Series battery systems and redefining the industry’s sustainability standards, paving the way for a cleaner, greener future.”
About Nesec
Nesec was founded in 1946 to promote the export of Dutch-built ships and provide (subordinated) loans to ship owners. As a result, the company has been active as a financing institution for the shipping industry and in support of shipbuilding for more than 75 years. Even today, Nesec still focuses on providing loans for the maritime cluster. In addition, Nesec develops credit funds for the long-term financing of maritime and offshore capital assets.
About EST-Floattech
EST-Floattech (2009), based in the Netherlands, develops, delivers, and installs reliable, sustainable, and safe battery systems for maritime applications. The in-house-developed Battery Management System software is integrated to assure safe delivery and charging of power. The feasibility and reliability of EST-Floattech’s battery technology is demonstrated by the more than 200 projects involving ships that have been sailing with the batteries for more than a decade. The new Octopus Series can be installed in virtually any vessel thanks to its modular construction, and it is certified by DNV, Lloyds Register, and Bureau Veritas. For vessels with high energy requirements but no room for a dedicated battery room, EST-Floattech designs customized battery containers. EST-Floattech aims to drive positive change in the global transition to cleaner and more efficient energy sources. www.est-floattech.com
About Energietransitiefonds Rotterdam
Energietransitiefonds Rotterdam is the investment fund of the municipality of Rotterdam, with a size of €100 million. The revolving fund finances innovative companies and large sustainable projects that can contribute to Rotterdam’s energy transition and circular economy. With the fund, the city aims to reduce CO2 emissions, improve air quality, and reduce the use of raw materials. InnovationQuarter acts as the fund manager for Energietransitiefonds Rotterdam.
About Rotterdam Port Fund
Independent investment fund Rotterdam Port Fund invests in innovative port-related companies with attractive market potential that contribute to the sustainability, digitalization, or safety of the port sector. The fund is an initiative of the Port of Rotterdam Authority, NIBC Bank, InnovationQuarter, Koninklijke Doeksen, Rotterdam entrepreneurs Peter Goedvolk and Luc Braams, as well as several private investors.
About PDENH
Participatiefonds Duurzame Economie Noord-Holland (PDENH) invests in startups, established companies, and projects in the province of Noord-Holland. The focus areas are energy transition, the circular economy, and sustainable mobility. Business activities must take place in North Holland and generate both financial, economic, and social returns.
About Ponooc
Ponooc is an independently operating investment fund focused on investments in sustainable energy and mobility. Ponooc is affiliated with the Pon Group, one of the largest family-owned companies in the Netherlands, operating in 32 countries with 80 companies and more than 12,000 employees worldwide. In addition to EST-Floattech, the current portfolio includes companies active in smart city solutions, energy services, and shared mobility.
About YARD ENERGY Group B.V.
YARD ENERGY is one of the largest private developers and investors in wind energy in the Netherlands and has realized more than 400 MW of wind-on-land projects in the Netherlands, Finland, and Poland. In addition to its own realized projects, YARD ENERGY strategically invests in companies and projects with a focus on energy transition.
About InnovationQuarter
InnovationQuarter is the regional development company for South Holland. InnovationQuarter invests in innovative Zuid-Holland companies with growth ambitions, assists international companies in establishing themselves in this unique delta region, and organizes (international) cooperation between innovative entrepreneurs, knowledge institutions, and the government. Thus, together with the business community, InnovationQuarter develops South Holland into one of the most innovative regions of Europe. As a lifecycle financier, InnovationQuarter provides companies with financing in different phases of growth. InnovationQuarter invests from four funds: IQCapital, UNIIQ, ENERGIIQ, and the Energietransitiefonds Rotterdam.
