When was ZEM founded?

ZEM was founded in 1993 and raised its 1st funding round 30 years after it was founded.

Where is ZEM located?

ZEM is headquartered in Oslo, Norway.

How many employees does ZEM have?

As of Apr 30, 2026, the latest employee count at ZEM is 48.

Is ZEM a funded company?

ZEM is a funded company, having raised an undisclosed amount across 2 funding rounds to date. The company's 1st funding round was a $***** Grant (prize money) round, raised on Feb 08, 2023.

When was the latest funding round of ZEM?

ZEM's latest funding was a $***** Grant (prize money) round on Mar 17, 2023, with participation from 1 investor.

Where does ZEM rank among its competitors?

ZEM ranks 45th amongst 446 active competitors, of which 47 are funded. It stands 11th in terms of total funding among its competitors. The most recent competitor to raise funding was Corvus Energy, which secured $60M in Oct, 2025.

Who are the top competitors of ZEM?

ZEM's top competitors include A123 Systems, Corvus Energy and Pureev.in. Among them, Corvus Energy secured the most recent funding round in October, 2025.

ZEM - 2026 Company Profile, Team, Funding, Competitors & Financials

Company Details

Integrator of marine electric and hybrid drivelines for maritime applications. The company integrates marine hybrid and electric drivelines tailored to customer requirements. It specializes in zero-emission maritime solutions, focusing on climate impact reduction, safety, efficiency, and adaptability. The company offers an integrated platform with key system components and a delivery team. It provides system technology adapting to different applications.

Website: zemenergy.com
Email ID: *****@zemenergy.com

Key Metrics

Founded Year

1993

Location

Oslo, Norway

Stage

Acquired

Latest Funding Round

Grant (prize money), Mar 17, 2023, $*****

Ranked

45^th among 446 active competitors

Employee Count

48 as on Apr 30, 2026

Similar Companies

Corvus Energy & 11 more

Exit Details

Acquired by Volvo Penta (Jun 02, 2021)

View ZEM's full profile

ZEM is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
ZEM AS CIN: 994631993 , Norway, Active	Aug 26, 2009	-	11 (As on Dec 31, 2022)

ZEM got acquired by Volvo Penta on Jun 02, 2021.

Click here to take a look at ZEM's acquisition in detail

ZEM has raised funding over 2 rounds. Its first funding round was on Feb 08, 2023. Its latest funding round was a Grant (prize money) round on Mar 17, 2023 for $*****. 1 investor participated in its latest round. ZEM has 1 institutional investor.

Here is the list of recent funding rounds of ZEM:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Mar 17, 2023	7943656	Grant (prize money)	7367092	7288071	5114920	1014178
Feb 08, 2023	8845402	Grant (prize money)	4984570	2780795	1174018	SZIF Státní zemědělský intervenční fond

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View details of ZEM's funding rounds and investors

The founders of ZEM are Salman Farmanfarmaian and Jan Olaf Willums. Egil Mollestad is the CEO of ZEM.

Here are the details of ZEM's key team members:

Salman Farmanfarmaian: Co-Founder of ZEM.
Jan Olaf Willums: Co-Founder & Chairman of ZEM.
Egil Mollestad: CEO of ZEM.

View details of ZEM's Founder profiles and Board Members

ZEM's employee count trend

ZEM has 48 employees as of Apr 26. Here is ZEM's employee count trend over the years:

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Top competitors of ZEM include A123 Systems, Corvus Energy and Pureev.in. Here is the list of Top 10 competitors of ZEM, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	A123 Systems 2001, Hangzhou (China), Public	Manufacturer of automotive lithium-ion batteries	$201M	General Electric, Sequoia Capital & 19 others	76/100
2nd	Corvus Energy 2009, Nesttun (Norway), Acquired	Developer of energy storage systems (ESS) based on lithium NMC technology	$88.2M	Equinor, Shell Ventures & 10 others	66/100
3rd	Pureev.in 2019, India, Series A	Manufacturer of energy storage products and electric vehicles with lithium batteries	$21.8M	Hindustan Media Ventures, Bennett, Coleman ... & 33 others	63/100
4th	Voltfang 2020, Aachen (Germany), Series B	Provider of energy storage systems and energy management solutions for businesses	$31.8M	FORWARD.one, PT1 & 30 others	58/100
5th	nine.energy 2020, United States, Late Stage	Developer of community-scale battery energy storage systems for electric grid	$325M	Manulife Investment Management, The Carlyle Group ... & 4 others	58/100
6th	Voltabox 2014, Delbruck (Germany), Public	Provider of lithium-ion batteries for EVs	-	-	58/100
7th	Tesvolt 2014, Seevetal (Germany), Public	Provider of energy storage systems, software, services, and energy trading	-	Liechtenstein Group, Ibg Rislkokapitalfonds ... & 11 others	58/100
8th	REPLUS Engitech 2018, Pune (India), Funding Raised	Provider of lithium-ion battery and energy storage solutions	-	Bharat Investment Growth	57/100
9th	Echandia 2009, Solna (Sweden), Series B	Manufacturer of maritime battery systems engineered for heavy-duty vessel applications	$34M	Industrifonden, SEB Venture Capital & 6 others	57/100
10th	PUR Energy 2015, Hyderabad (India), Series A	Manufacturer of energy storage products and electric vehicles with lithium batteries	$6.26M	Hindustan Media Ventures, Time Cap Pharma Labs ... & 7 others	57/100
45th	ZEM 1993, Oslo (Norway), Acquired	Integrator of marine electric and hybrid drivelines for maritime applications	-	-	38/100