Grieg Edge has added Pascal Technologies to our portfolio of Ocean Ventures.
Pascal Technologies is a fast-growing maritime technology company headquartered in Oslo. Pascal has developed a proprietary air cushion technology that dramatically increases energy efficiency for planing boats. By combining the technology with a battery electric propulsion system, the technology enables long-range zero-emission boats. The company focuses on several segments, including leisure, personnel transport, and ferries.
«Innovative solutions to reduce energy consumption will be a vital part of the green shift in the maritime industry – and we want to be active in bringing those solutions to the markets. Pascal Technologies possesses exciting technology that aligns with this perspective, and their strong team and reliable partners further bolster their position», says Head of Ocean Ventures in Grieg Edge, Kjerstin Hernes.
Pascal Technologies secured 4.5 MNOK in equity this fall through an extension fundraising round. It continues the successful investment round of 53 MNOK in equity closed earlier in Q1, led by Ocean Zero. Pascal will use the additional funds to accelerate the launch of their first commercial vessels. In addition to Grieg Edge, Katapult Ocean joined this extension round.
“We are thrilled to welcome two new strong investors to the company, bringing with them valuable competence, network, and industry experience for both boating and shipping.” Carl Rehn, CEO at Pascal Technologies.
Over the past year, Pascal has formed strategic partnerships with some of the most recognized brands in the leisure boats and workboats sectors in the Nordics. Collaborating with Frydenbø Marine on leisure boats and with Moen Marin and Nimbus Group on commercial vessels has solidified Pascal’s position as a catalyst in the sustainable maritime industry.