Norwegian electric propulsion specialist SeaDrive has partnered with marine technological equipment supplier Saim, through a private placement of shares.

Saim’s shares acquisition represents the purchase of a 6% stake in SeaDrive. This strategic move further strengthens the two companies’ partnership, which began three years ago when SeaDrive appointed Saim Marine as its distributor for the Italian marine market. Saim Marine is the marine division of Saim Group.

SeaDrive, which develops integrated drivelines, is known for its work in maritime propulsion systems and environmentally friendly technologies. SeaDrive says the new partnership will enable it to access additional resources and expertise, thereby accelerating the development and deployment of its technologies.

We are thrilled to welcome this partnership,” says Marco Donà, Saim’s CFO. “This strategic investment aligns seamlessly with our vision of promoting sustainable innovation in the maritime sector. SeaDrive unparalleled expertise and proven track record in developing eco-friendly propulsion systems and other maritime solutions make SeaDrive an ideal partner in our mission to drive positive change within the industry.”

Ove Bratsberg, SeaDrive’s managing director, adds: “This partnership is expected to bring a host of benefits to both companies. Thanks to this partnership, SeaDrive will gain access to Saim’s commercial know-how and financial support, which will facilitate the diffusion of our technology and support our strong strategy. Meanwhile, Saim will benefit from SeaDrive technical expertise and innovative solutions to address the growing demand for environmentally responsible maritime technologies.”

SeaDrive’s current management team will continue to lead the company, while Saim will have a seat on its board of directors.

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