Thursday, June 20, 2019

Venture Capital News

Peter Granqvist (Photo: Volvo Penta)

Granqvist Joins Volvo Penta Executive Team

Peter Granqvist will take up the position of Senior Vice President for Product Development, Planning and Purchasing, replacing Johan Inden, effective September 1.Granqvist is joining Volvo Penta from DENSO Corporation where he currently is the President and Managing Director for Sweden. He brings to the role a background in industrial engineering, business management and higher education.As of July 1, Inden took up the role of President Region Europe, replacing Stefan Carlsson.

Torqeedo Acquired by DEUTZ

Independent engine manufacturer DEUTZ announced it has acquired Torqeedo, provider of electric drive systems for watercraft. As an independent subsidiary of DEUTZ AG, Torqeedo will continue product development under its established Torqeedo brand and with its current leadership. Founded 12 years ago in Starnberg, Germany, and supported by venture capital so far, DEUTZ said the acquisition marks a new phase in its development. “As part of DEUTZ, Torqeedo will realize substantial opportunities in the areas of industrialization, supply chain management, sales and service.

NAPA data analysis and fuel-saving verification leads to €3 million investment and first commercial order for a Flettner rotor Credit Norsepower

Performance Monitoring, Verification Drives Orders, Investments for Norsepower

Finnish engineering company, Norsepower today announced that it has received €3 million in investment from a syndicate led by venture capital fund Power Fund III and has installed a second rotor sail on Bore’s Ro-Ro vessel MS Estraden. Data analysis and verification by NAPA, the leading maritime data analysis, software and services provider, has been fundamental to these developments by proving the effectiveness of Norsepower’s technology. A single Norsepower Rotor Sail was installed on the 9,700 DWT Ro-Ro carrier in early 2015.

Marine Generator Market in Asia Pacific to Expand

The recovery of the ship building industry will stoke demand for marine generator sets in the Asia Pacific, with customers preferring to install multiple units of lower output generator sets in their vessels instead of a single heavy-duty generator set. The Southeast Asian and the North Asian markets are showing huge potential as they are continually involved in the export and import of raw materials. However, with competitively-priced Chinese brands flooding the Asia Pacific market, local participants will be hard pressed to make their presence felt or get a toe-hold.