Seadrive and Saim announce strategic partnership

SeaDrive, a pioneering Norwegian company involved in the development of integrated electric propulsion drivelines, and SAIM, a leading supplier of marine technological equipment, are pleased to announce the successful completion of their strategic partnership through a private placement by SAIM  Spa of 6% stake in SeaDrive. This strategic move further strengthens the two companies partnership which began three years ago when SeaDrive appointed SAIM Marine, the marine division of SAIM Group, as its distributor for the Italian marine market.

SeaDrive, known for its cutting-edge advances in maritime propulsion systems and environmentally friendly technologies, has gained prominence for its significant contributions to the industry's evolution towards greater sustainability. This partnership will enable SeaDrive to access additional resources and expertise, threby accelerating the development and deployment of their groundbreaking technologies.

The shares acquisition, which was finalized on August 31st, is relevant to the purchase of a 6%  stake in SeaDrive reaffirming SAIM unwavering commitment to investing in transformation technologies and sustainable solutions within the maritime industry.

“We are thrilled to welcome this partnership," said Marco Donà, SAIM  CEO. "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”.

“This partnership is expected to bring a host of benefits to both companies”, said Ove Bratsberg, SeaDrive Managing Director. “Thanks to this partnership, SeaDrive will gain access to SAIM 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 current management team will continue to lead the company, while SAIM will have a seat in their Board of Directors.