SeaDrive, a Norwegian company involved in the development of integrated electric propulsion drivelines, and SAIM, a supplier of marine technological equipment, announced the completion of their strategic partnership through a private placement by SAIM Spa of 6% stake in SeaDrive.
This 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 maritime propulsion systems and environmentally friendly technologies, has been committed into the industry’s evolution towards sustainability.
This partnership will enable SeaDrive to access additional resources and expertise, thereby accelerating the development and deployment of their technologies.
The shares acquisition, which was finalized on August 31st, is relevant to the purchase of a 6% stake in SeaDrive, reaffirming SAIM commitment to investing in transformation technologies and sustainable solutions within the maritime industry.
Statements of the companies
SeaDrive current management team will continue to lead the company, while SAIM will have a seatin their Board of Directors.